[AdamB]

$this->bbcode_second_pass_quote('rockdoc123', '')$this->bbcode_second_pass_quote('', 'A')lso, it is true that I didn’t ‘venture to guess’ how recovery factors might be raised to 35% in an op-ed article in a newspaper, but it’s hard to believe anyone with experience in the industry would challenge that.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', 's')pike, you must know by now that reserve and resource numbers are meaningless, ginned every which way to benefit oil traders, industry flacks, and crappy analysts.

So for instance trillions of barrels oil-equivalent Green River shale and Orinoco super heavy will never be produced . . . at any p
Peak oil is even now obvious to the bankers. HSBC isn't reluctant to remind us that 80% of all fields are in decline ("Will mature field declines drive the next supply crunch") So while there is a supply glut . . . a decade of ridiculously high oil prices destroyed economies . . . there's now a greater demand dearth.

[Tanada]

Adam stop going out of your way to annoy Pstarr with ad hom arguments. Attack his data not his family. Consider this a warning, we have been over this already. Play nice.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'H')ow about using the recovery factor distribution based on the USGS studying reserve growth in the US? It is argued that even this estimate is a bit pessimistic, particularly without accounting for changes in technology dependent upon price.

[ROCKMAN]

Doc - "...unless all you are after is a wild ass guess." But isn't that what many armchair quarterbacks do? IOW make some undocumented WAG that can only be shown wrong by doing an huge amount of work to document their statement was complete BS? They love to toss the "averasge" of this or that without actually doing the real math. IOW "If you won't spend countless hours researching to prove me wrong then I might be correct."

[AdamB]

$this->bbcode_second_pass_quote('rockdoc123', '')$this->bbcode_second_pass_quote('', 'H')ow about using the recovery factor distribution based on the USGS studying reserve growth in the US? It is argued that even this estimate is a bit pessimistic, particularly without accounting for changes in technology dependent upon price.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', 'C')an someone explain what AdamB is talking about?

[ralfy]

Reserves <> production. That's why production costs keep rising even with a "flood" of numbers.

Also, it's a waste of time warning members as new accounts can be created.

Given that, it's best to use the ignore function.

[spike]

I have seen various estimates of the global recovery factor but never good documentation for the calculation. There are clearly some fields that go above 60% (light untight oil), but it depends in part of whether you are talking 'theoretically' recoverable or 'recoverable with equipment in place.' In some countries, like Iraq, the recovery factor is probably still low in some old fields, but new investment is raising it. Saudis are referring to what they expect to achieve in the future, I think, not what they can do now.

[rockdoc123]

$this->bbcode_second_pass_quote('', 'S')audis are referring to what they expect to achieve in the future, I think, not what they can do now.

[ralfy]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('ralfy', 'R')eserves <> production. That's why production costs keep rising even with a "flood" of numbers.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('AdamB', '')$this->bbcode_second_pass_quote('pstarr', 'C')an someone explain what AdamB is talking about?

[AdamB]

$this->bbcode_second_pass_quote('ralfy', 'R')eserves <> production. That's why production costs keep rising even with a "flood" of numbers.

Also, it's a waste of time warning members as new accounts can be created.

Given that, it's best to use the ignore function.

[AdamB]

$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('ralfy', 'R')eserves <> production. That's why production costs keep rising even with a "flood" of numbers.

[AdamB]

$this->bbcode_second_pass_quote('ralfy', '')$this->bbcode_second_pass_quote('pstarr', '')$this->bbcode_second_pass_quote('ralfy', 'R')eserves <> production. That's why production costs keep rising even with a "flood" of numbers.