<The Oil Drum - At ASPO-USA Sacramento The Oil Drum DrumBeat: October 6, 2008>

67 comments on ASPO-USA Sacramento - a Comment

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AlanfromBigEasy on October 5, 2008 - 8:41am Permalink | Subthread | Comments top

I submitted a written question to Mr. Wells, "What impact (and when) will North Ghawar watering out have ?"

He responded that they were already getting high water cuts and shutting in some wells, it is not a sudden oil > water (I knew this, besides Ghawar is too large to water out uniformly).

And then, in a quiet voice, he said that North Ghawar should "mostly" water out within the next two years or so.

He did not address the impact of this development.

Alan

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Gail the Actuary on October 5, 2008 - 8:55am Permalink | Subthread | Parent | Comments top

That sounds scary! I don't remember hearing him say that, but it would have been easy to miss.

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AlanfromBigEasy on October 5, 2008 - 9:00am Permalink | Subthread | Parent | Comments top

I do remember a change in tone and volume when he said that. And, yes, for someone with claimed special knowledge, it is scary.

I believe that statement more than offset every positive about KSA that he touted.

Alan

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aangel on October 5, 2008 - 10:44am Permalink | Subthread | Parent | Comments top

I caught that, too, as did Jeffrey, but then his slide shows no reduction in SA's production (in addition to a tripling of Iraq's production in about fifteen years).

Wells-OPEC Forecast

Something doesn't add up.

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AlanfromBigEasy on October 5, 2008 - 10:55am Permalink | Subthread | Parent | Comments top

Something doesn't add up

Aramco claims for future production capacity ?

Alan

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Aniya on October 5, 2008 - 8:39pm Permalink | Subthread | Parent | Comments top

Hi Gail and Alan,

Did anyone take audio or video of Peter Wells' presentation?

I suppose it's also possible to ask him for confirmation.

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AlanfromBigEasy on October 5, 2008 - 8:47pm Permalink | Subthread | Parent | Comments top

Westexas, AAngel and I all remember him saying this (I had a conversation with Jeffrey about it). There is some value in getting the exact wording, but really not that much.

I think it is clear that it is not a message that he wants to shout from the rooftops.

Alan

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Heading Out on October 5, 2008 - 9:19pm Permalink | Subthread | Parent | Comments top

Now that I am reminded I also seem to recollect hearing this, and may have noted it at the time.

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aangel on October 6, 2008 - 11:02am Permalink | Subthread | Parent | Comments top

It was likely videod by Terrachord, the conference production company.

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67 comments on ASPO-USA Sacramento - a Comment

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