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83 comments on DrumBeat: June 18, 2006

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AlanfromBigEasy on June 18, 2006 - 12:50pm Permalink | Subthread | Parent | Comments top
My guess is that most of that extra 4 million barrels/day comes from lease condensate that was previously flared (I think some OPEC members began making capture or reinjection mandatory.  Common sense told them that massive 24 hour/day flares were a waste that they would want one day).

Perhaps 1 million from tar sands (1995-2005), a few hundred thousand for "improved asphalt" from Venezula and ethanol.  The rest just better lease condensate recovery IMHO.

How much more lease condensate can be captured ?  And how long before oil recovery slows to such a low point in a field as recovery drops off and production shifts to NG and condensate that was reinjected years ago.  The condensate may actually jump the "All Liquids" recovery for a while.

I suspect that, as Peak NG approaches, many oil fields will shift to reinjected NG, further dropping oil recovery.

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Oil CEO on June 18, 2006 - 12:56pm Permalink | Subthread | Parent | Comments top
Actually the lease condensate is included in the lower series,  so it doesn't account for the 4 mmbpd change. It is all an increase in the percentage of tar sands, NGPL, RPG, and "other liquids."
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