All-time low for discovered resources in 2017: Around 7 billion barrels of oil equivalent was discovered.

Rystad Energy concluded this week that 2017 was yet another record low year for discovered conventional volumes globally. Less than seven billion barrels of oil equivalent has been discovered YTD. “We haven’t seen anything like this since the 1940s,” says Sonia Mladá Passos, Senior Analyst at Rystad Energy. “The discovered volumes averaged at ~550 million barrels of oil equivalent per […]

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Shale reality check, J.D.Hughes, 2018

« Shale gas and tight oil from low permeability reservoirs have provided a new lease on life for U.S. oil and gas production. Tight oil has allowed U.S. oil production to double from its 2005 lows, and shale gas has similarly allowed a major increase in U.S. gas production. However, the nature of these reservoirs is that they decline quickly, such […]