Author: D Coyne

Overview of the Northern Deepwater Gulf of Mexico

D Coyne 231 Comments

by SouthLaGeo

The post that follows is a guest post by SouthLaGeo, a geologist with over 30 years of oil industry experience.

SouthLageo/

In this post, I will address 3 topics relating to the Northern Deepwater Gulf of Mexico –
1. Historical oil production
2. One view of the future of exploration
3. EUR ranges

I will limit my comments to oil production (not gas production). All production data is from BSEE/BOEM. The play outlines on the map are my best estimates. I will be using the BSEE definition of deepwater which includes water depths greater than 1000’. And, I will be assuming a Business As Usual future – by that I mean that fossil fuels will continue to be an important an energy source, and the world will continue to be able to afford them. Read More

Has China reached Peak Oil?

D Coyne 345 Comments

Ron Patterson sends me the occasional e-mail when he sees something of interest.  Portions of his email are below.

Chinachart/
Dennis, I thought you might find this interesting.

http://www.wsj.com/articles/chinas-decline-in-oil-production-echoes-globally-1472122393
China’s Decline in Oil Production Echoes Globally

Aug. 25, 2016 6:53 a.m. ET
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BEIJING—China’s struggling oil sector has entered a challenging new phase: long-term decline of its domestic production.

Oil production in China likely peaked last year at around 4.3 million barrels a day, according to new data and interviews with industry executives. The development has significant implications globally, including the potential for higher crude prices over time as China steps up imports to meet rising demand at home.
“The turning point that we’ve been searching for, for years, is happening now,” said Kang Wu, vice chairman for Asia at energy consultancy FGE. As an oil producer, he said, “China is entering long-term stagnation and decline.” Read More