Arthur75 wrote:world oil outlook, they need their nice report too !
As to U XH 500 Gb, that's ultimate recovery for extra heavy (tar sands and orinoco)
Pops wrote:Interesting thing in this paper is how much time he spends on the different measurements and definitions/redefinitions of "oil" from various sources over the last few years and how those produce different estimates of production. But even more interesting is the observation that over the last 5-6 years of the plateau there is more difference between the different sources' estimates than there is production fluctuations within each version.
Arthur75 wrote:No, Laherrère is indeed a geologist and an engineer Plant, and one who has discovered several major fields.
John_A wrote:Arthur75 wrote:No, Laherrère is indeed a geologist and an engineer Plant, and one who has discovered several major fields.
Says here engineer.
http://en.wikipedia.org/wiki/Jean_Laherr%C3%A8re
This one says petroleum geophysicist.
http://www.thenation.com/video/159001/j ... bad-thing#
Geophysicists being more mathematicians than geologists, but still, it could be either. Usually isn't both though.Arthur75 wrote:As to if the Bakken tight oil should be called conventional or unvonventional, a matter of words primarily, but he certainly knows what he is talking about.
Plantagenet wrote:Dr. Laherrere is an engineer---not a geologist. I'm not sure he has a real grasp on geology. For instance, Dr Laherrere doesn't think the Bakken is an "unconventional" oil field---he says the "trapping" there is "conventional" when it clearly isn't. In reality the production in the Bakken isn't at all dependent on any kind of conventional structural trap. There are good spots and bad spots, but these seem to be related to the original sedimentology of the shale rather than the presence or absence of "conventional" structural traps.
The Bakken Formation comprises three distinct members. The upper and lower members are black, organic-rich shales and are widely recognized as world-class source rocks. These members also serve as very effective seals owing to their very low permeability. Permeability ranges from 0.01 mD to 20 mD. The middle member is the primary oil-producing member and predominantly composed of siltstones and sandstones but also has low porosity (1% - 15%) and permeability (0 - 20 millidarcies),2 particularly for a reservoir rock.
Providing that no new cycle of discoveries [first surface exploration, then seismic, then deepwater] happens, the extrapolated values are the ultimate reserves. Geological expertise is needed to foresee if a new cycle is possible. For oil, the only new possible cycle could be shale oil (called now tight oil). It is only significant in the US, not yet in the rest of the world. There is not enough historical production to reliably estimate world shale oil reserves, but it seems that the amount is much less than the accuracy of the world crude less XH oil reserves. So, the shale oil boom can be hype and it would be wrong to put it as a fourth global cycle. Only time will tell. It is the same for natural gas and shale gas
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