Sorry I didn't see this until now, I rarely visit this section.
Since I stopped my catalog a couple years ago now, I don't really have anything to say. Wouldn't be surprised if discoveries fell off, with the price of oil crashing lately.
PeakOil is You
Oilfinder, Help! (oil discoveries fall to 20 yr low)
Re: Oilfinder, Help! (oil discoveries fall to 20 yr low)
by copious.abundance » Tue 14 Apr 2015, 15:43:21
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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copious.abundance - Fission
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Re: Oilfinder, Help! (oil discoveries fall to 20 yr low)
by Pops » Tue 14 Apr 2015, 17:54:55
$this->bbcode_second_pass_quote('copious.abundance', 'S')orry I didn't see this until now, I rarely visit this section.
Since I stopped my catalog a couple years ago now, I don't really have anything to say. Wouldn't be surprised if discoveries fell off, with the price of oil crashing lately.
Since I stopped my catalog a couple years ago now, I don't really have anything to say. Wouldn't be surprised if discoveries fell off, with the price of oil crashing lately.
Yeah, I think I wrote 4 or 5 posts on the previous page regarding the decline in discoveries over the previous 4 years (while oil was at the highest price ever) was not just down, but in '13 the lowest ever, that according to the head corn - IHS:
$this->bbcode_second_pass_quote('', 'F')irst of all, since 2008, every year since then, we've seen a declining number of fields that have been found. In addition, since 2010, we've also seen declining volumes that have been found. 2013, it turns out, was among the lowest volumes found on record since the early days of oil and gas exploration. We found about 13 billion barrels of oil equivalent that year. In addition, 2013 was the first year since the very earliest days of oil and gas exploration that we didn't find at least one billion barrel oil field.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Re: Oilfinder, Help! (oil discoveries fall to 20 yr low)
by ROCKMAN » Tue 14 Apr 2015, 18:06:26
"We found about 13 billion barrels of oil equivalent that year". That's OK Pops. But how much oil did we find...not equivalent bbls of oil. Didn't we make fun of a public company a few years ago that stated the reserves of their new field discovery as X bbls of oil equivalent? And the reason we mocked them was because the field actually contained no liquid hydrocarbon...it was 100% dry NG.
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ROCKMAN - Expert
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Re: Oilfinder, Help! (oil discoveries fall to 20 yr low)
by Pops » Tue 14 Apr 2015, 18:53:54
LOL, True ROCK.
But we're talking press releases here (OF stock in trade) so at least it wasn't 13 billion of 100% dry oil.
But we're talking press releases here (OF stock in trade) so at least it wasn't 13 billion of 100% dry oil.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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Pops - Elite
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Re: Oilfinder, Help! (oil discoveries fall to 20 yr low)
by copious.abundance » Tue 14 Apr 2015, 21:41:17
FWIW, the last 4 years of my catalog showed no real drop-off or trend. Obviously myself and IHS have/had different methodologies, but without knowing exactly what theirs is, I can't really comment on it.
$this->bbcode_second_pass_quote('copious.abundance', '[')b]2013
Recoverable total: 7.716 billion barrels minimum to 11.867 billion barrels maximum
OIP total: 1 billion barrels minimum to 1 billion barrels maximum
2012
Recoverable Total: 22.596 billion barrels minimum to 26.876 billion barrels maximum
OIP Total: 9.3 billion barrels minimum to 9.7 billion barrels maximum
2011
Total discoveries listed as recoverable: 11.581 billion barrels minimum to 14.281 billion barrels maximum
Total discoveries listed as Oil-In-Place: 300 million barrels minimum to 300 million barrels maximum
2010
Total discoveries listed as recoverable: 41.577 billion barrels minimum to 44.873 billion barrels maximum
Total discoveries listed as Oil-In-Place: 91.26 billion barrels minimum to 92.8 billion barrels maximum
2009
Total discoveries listed as recoverable: 12.009 billion barrels minimum - 18.731 billion barrels maximum
Total discoveries listed as Oil-In-Place: 13.514 billion barrels minimum - 15.069 billion barrels maximum
-----------------------------------
2008: 24.009 billion - 27.758 billion barrels
2007: 32.32 billion - 36.85 billion barrels
2006: 10.65 - 25.9 billion barrels
$this->bbcode_second_pass_quote('copious.abundance', '[')b]2013
Recoverable total: 7.716 billion barrels minimum to 11.867 billion barrels maximum
OIP total: 1 billion barrels minimum to 1 billion barrels maximum
2012
Recoverable Total: 22.596 billion barrels minimum to 26.876 billion barrels maximum
OIP Total: 9.3 billion barrels minimum to 9.7 billion barrels maximum
2011
Total discoveries listed as recoverable: 11.581 billion barrels minimum to 14.281 billion barrels maximum
Total discoveries listed as Oil-In-Place: 300 million barrels minimum to 300 million barrels maximum
2010
Total discoveries listed as recoverable: 41.577 billion barrels minimum to 44.873 billion barrels maximum
Total discoveries listed as Oil-In-Place: 91.26 billion barrels minimum to 92.8 billion barrels maximum
2009
Total discoveries listed as recoverable: 12.009 billion barrels minimum - 18.731 billion barrels maximum
Total discoveries listed as Oil-In-Place: 13.514 billion barrels minimum - 15.069 billion barrels maximum
-----------------------------------
2008: 24.009 billion - 27.758 billion barrels
2007: 32.32 billion - 36.85 billion barrels
2006: 10.65 - 25.9 billion barrels
Stuff for doomers to contemplate:
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
http://peakoil.com/forums/post1190117.html#p1190117
http://peakoil.com/forums/post1193930.html#p1193930
http://peakoil.com/forums/post1206767.html#p1206767
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copious.abundance - Fission
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- Joined: Wed 26 Mar 2008, 03:00:00
- Location: Cornucopia
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