Ron Patterson – Page 37 – Peak Oil Barrel

Worldwide Rig Count Dropping Again

11/08/201511/08/2015 Ron Patterson 370 Comments

Baker Hughes has published its International Rig Count with production numbers for October. This is a monthly rig count and breaks out the international rigs by oil, gas and miscellaneous. Baker Hughes does not include the Former Soviet Union countries in their count or totals. Baker Hughes also includes the US and Canada in their monthly count but they do not break US and Canada monthly totals out by oil and gas.

All rigs were down 85 rigs in October to 2,086 rigs. October 14 to October 15 total world rigs were down 1,571 rigs of 43%.

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Peak Oil Open Thread

11/04/201511/04/2015 Ron Patterson 418 Comments

North Dakota Spuds hit 5 year low. Not since January of 2010 have spuds been below 77, the point they hit in September.

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US Oil Production by State

10/30/201510/30/2015 Ron Patterson 324 Comments

The EIA’s Petroleum Supply Monthly is just out with production numbers, through August, for each state and offshore territories. The EIA’s Monthly Energy Review is also out. This publication has US production data through September but not for individual states.

The Petroleum Supply Monthly June 15 production numbers were revised down considerably this month. And you can see they had a drop of 169,000 bpd in September. I think there will likely be an even larger drop in October. At any rate US production is finally starting to drop significantly.

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Looking Back 10 Years After Peak Oil

10/26/201510/27/2015 Ron Patterson 379 Comments

This is a guest post by Verwimp Bruno.

All views expressed here are those of Verwimp Bruno and do not necessarily represent those of Ron Patterson.

1. INTRODUCTION

Peak Oil is the moment in time when, on a global scale, the maximum rate of oil production is reached. The moment after which oil production, by nature, must decline forever. Since Earth is a closed system, next to this production (supply) event, there must be an equal demand event: Peak Oil Consumption. Since there are no substantial above ground deposits, Peak Oil Production and Peak Oil Consumption must coincide. The world consists of a lot of different countries, some of which are already far beyond peak oil production That leads to the assumption the world as a whole reaches peak oil production. On the demand side, it is worth looking, because different countries have different economies, different degrees of development, and so on, if, while some countries still experience significant growth in oil consumption, some countries are already well beyond Peak Oil Consumption by now. Read More

Texas Oil and Gas Decline in August

10/21/201510/21/2015 Ron Patterson 466 Comments

The Texas RRC Oil and Gas Production Data with production data for August is out.

The RRC data is always incomplete but if this month’s incomplete data is less than last month’s incomplete data then that’s a pretty good indicator that production this month is down.

The EIA data here is only through July. They have Texas production peaking in March at 3,644,000 barrels per day and declining by 197,000 bpd to 3,447,000 bpd in July.

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