The Oil Drum

26 comments on CIBC in more detail, and the first Chevron debate

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Dave Cohen on January 13, 2006 - 5:02pm

I see that HO has already answered your question.

If you need any other anecdotal evidence, let me know. It's the only kind of ever use.

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Stuart Staniford on January 14, 2006 - 1:14am

I have to say, with all due respect to my fellow OD'ers, I'm rather with JD here. While it's certainly true that decline rates have increased a great deal, the industry also believes recovery rates have increased somewhat. I've not seen any good evidence for Matt Simmons' position that there's zero improvement in recovery rates, and it seems implausible - how can visualizing left behind pockets of oil with 4d seismic not improve recovery?

Here's a discussion of Valhall in the North Sea.

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peakearl on January 14, 2006 - 4:01am

In Simmons' book, he states that recovery has been increased but only in certain cases. I'll have to dig through it again to provide his specific instances. I suppose I should do that when I have more energy. My recollection is that he doesn't feel that the technology will make a significant difference in the overall picture, that in some cases it may result in reduced total recovery, and that the temporary boost in production has led to complacency in the past, which was shattered when the fields hit sudden sharp declines.