Tag: Peak Oil

Jean Laherrere on Proven Reserves

Ron Patterson 87 Comments

Jean Laherrere has posted the following charts and comments on Bakken and World oil reserves.

EIA proved reserves on Bakken (ND +Montana) plus  cumulative production have changed at end :

-2012   3754 Mb
-2013   5701 Mb
-2014   7203 Mb
-2015   6671 Mb

As shown in this graph in red squares, together with HL ultimates, USGS estimates and cumulative production.

jean-1

ThisEIA CP+RR value (which is assumed to trend towards the oil ultimate) has increased sharply from 2012 to 2014 and has decreased in 2015 (this decrease may continue towards which value?).

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Texas Update- November 2016

D Coyne 122 Comments

Edit 12/2/2016, 8:30 AM EST. A corrected chart for correction factors below and a new chart added.

Texaschart/

The railroad commission of Texas released September output data a few weeks ago and Dean Fantazzini made an estimate of the “corrected” data for crude plus condensate (C+C) and natural gas. Last month he found there had been a structural change in the data in March and provided a new estimate using only the most recent 3 months of data, I chose to use the most recent 6 months of data instead.

This month I will present the old estimate (labelled “all”) using all vintage data (dating back to April 2014) as well as the 6 month and 3 month estimate, which use the most recent 6 months and 3 months of data respectively. Read More