<Oil execs speak to the Senate today The Oil Drum Conference open thread>

9 comments on Given the shortage of oil rigs . . . .

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peakearl on November 9, 2005 - 2:33am Permalink | Subthread | Comments top
First, I seriously doubt a combination of new, smller fields will come close to replacing Cantarell production even in 2006. We will see.

Regarding Exxon, It was just last Feb or March when they capped off their most expensive, deep exploratory well, a $100 million well in the Caspian. It came up completely dry - no commercial hydrocarbons at all. So much for their wonderful computer models that will solve all our problems.

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peakearl on November 9, 2005 - 2:40am Permalink | Subthread | Parent | Comments top
Actually, I guess it was last October 2004 when Exxon had the above failure (how time flies). See the link if curious:
http://www.greencarcongress.com/2004/10/a_very_disappoi.html
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Dave Cohen on November 9, 2005 - 3:06am Permalink | Subthread | Parent | Comments top
Re: ExxonMobil, so now you see that computer modelling of what is supposed to be there really is not in many cases (here, the Caspian Sea). As far as Canterell goes, it is in decline, that is irreversible and that's all there is to it. Case closed.
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9 comments on Given the shortage of oil rigs . . . .

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