Peak Oil Barrel – Page 187 – The Reported Death of Peak Oil Has Been Greatly Exaggerated

Jean Laherrere’s Bakken Update

08/24/201508/24/2015 Ron Patterson 936 Comments

Jean Laherrere sent me the below charts the other day. I had planned on posting them with more Bakken data. But my schedule has been busy so I am posting them alone.

Jean’s interpretation for ND is as follows

Bakken ultimate = 3 Gb

Non Bakken ultimate = 2.2 Gb

ND ultimate 5.2 Gb

Detail

Quite symmetrical like the EIA drilling productivity data, but in contrary to EIA/AEO2015 with a peak in 2020

It will be interesting to see the evolution in the next few months

The Hubbert Linearization puts the Bakken about half way to the end.

Read More

Texas RRC June Production Data

08/19/201508/19/2015 Ron Patterson 710 Comments

The Texas RRC Oil & Gas Production Estimates are in. By now everyone should know that the Texas oil and gas data is incomplete and the drooping data lines will eventually look more like the EIA lines as the more and more data comes. The EIA data is only through May but all Texas Railroad Commission data is through June.

It appears that Texas C+C was flat to slightly up in June.

Read More

Bakken Production Data and STEO Predictions

08/14/201508/14/2015 Ron Patterson 554 Comments

The Bakken Production Statistics and the ND Production Statistics with June production numbers has been published.

Bakken production was up by 10,887 barrels per day to 1,152,455 BPD while all North Dakota production was up by 8,565 barrels per day to 1,211,180 BPD. Bakken production is still 11,068 bpd below their December high while all North Dakota production is still 17,240 bpd below their December high.

Read More

US Shale Declining and OPEC Still Climbing

08/11/201508/11/2015 Ron Patterson 481 Comments

There is new data out today. The EIA published their International Petroleum Statistics yesterday. The EIA also published their Drilling Productivity Report which gave their expected shale oil and gas production through September. Then this morning OPEC published their Monthly Oil Marketing Report with OPEC crude only production numbers through July.

First the Drilling Productivity Report. Of course most of the Drilling Productivity Report is projection, not history. And that projection goes through September 2015.

The EIA has the Bakken peaking in December and declining 107 thousand barrels per day since that point. A secondary peak was reached in April and declining steadily since then.

Read More

International Rig Count Still Falling

08/07/201508/07/2015 Ron Patterson 434 Comments

The Baker Hughes International Rig Count is out. I have decided to try something new with the charts. That is to compare the current year’s rig count with the previous two years count and to insert, within the charts, the percent change for this year as compared to last year. Also, this is the total rig count, Oil and Gas. Also the charts are not zero based. I do this in order to better emphasize the monthly change.

July usually sees a big jump in rig counts. This year there was a very tiny July increase, only a fraction of the increase we usually see for July.

*The Total International rig counts does not include the USA, Canada or the FSU. The Total International rig count was down 28 in July to 1118. Last July it was up3 to 1344.

Read More