I’ll believe it when I see it. But, the hotels in Tehran are stuffed with corporate CEOs drooling for the chance to rape another country. Problem is, China and Russia got there first, and the KSA and Israel are not happy about it. So…I’ll wait and see what happens.
TWILIGHT IN THE DESERT
Matt Simmons—copyright July 2005, almost exactly 10 years ago. Was Matt
wrong? To date, it sure looks like it. About 35 to 40 billion barrels have
been pumped out of Saudi fields since he researched the book. With Saudi’s
now drilling more than 500 new wells each year and the rig count about 200
versus only about 600 drilling for oil in the US now, the effort to
produce is certainly rising. No reports of any new giant fields found, so
all this is coming from field discovered at least 30 years ago(shayba) or
more likely 50 to 60 years ago. What are the recovery rates? High, for sure.
Waterfloods all–with massive seawater purification and injection (16 to
20 million b/d. Can they produce more than the 10.6 million b/d they reportedly are doing now? For how long? What is the decline rate as wells water-out? All secrets! Seemingly the supply is endless, but is it?
Thoughts for Today. And here’s to Matt, he got us all thinking.
Makati1 on Sat, 18th Jul 2015 9:12 am
I’ll believe it when I see it. But, the hotels in Tehran are stuffed with corporate CEOs drooling for the chance to rape another country. Problem is, China and Russia got there first, and the KSA and Israel are not happy about it. So…I’ll wait and see what happens.
BobInget on Sat, 18th Jul 2015 12:33 pm
Cut and pasted from IV
TWILIGHT IN THE DESERT
Matt Simmons—copyright July 2005, almost exactly 10 years ago. Was Matt
wrong? To date, it sure looks like it. About 35 to 40 billion barrels have
been pumped out of Saudi fields since he researched the book. With Saudi’s
now drilling more than 500 new wells each year and the rig count about 200
versus only about 600 drilling for oil in the US now, the effort to
produce is certainly rising. No reports of any new giant fields found, so
all this is coming from field discovered at least 30 years ago(shayba) or
more likely 50 to 60 years ago. What are the recovery rates? High, for sure.
Waterfloods all–with massive seawater purification and injection (16 to
20 million b/d. Can they produce more than the 10.6 million b/d they reportedly are doing now? For how long? What is the decline rate as wells water-out? All secrets! Seemingly the supply is endless, but is it?
Thoughts for Today. And here’s to Matt, he got us all thinking.