Watts Up With That? by David Middleton 8/12/2021
A Peak Oiler would look at this pie chart and declare that 93% of the oil and gas under the US Federal waters of the Gulf of Mexico has already been produced and that the Gulf will be produced out in about 5 years. An Abiotic Oil Aficionado would be even wronger…
Figure 1. 2018 end of year Gulf of Mexico cumulative production and remaining proved reserves. BOEM 2020-028, page 1
A Peak Oiler would declare that the following two graphs must be fake; while an Abiotic Aficionado would declare that they prove something even more ridiculous.
Figure 2. Gulf of Mexico Federal Offshore (Central & Eastern) Crude Oil Estimated Production from Reserves (Million Barrels). EIA.
Figure 3. Gulf of Mexico Federal Offshore (Central & Eastern) Crude Oil Estimated Production from Reserves (Million Barrels) EIA.
This will really torque off the Peak Oilers (and totally mislead the Abiotic Oil Aficionados):
Figure 4 Figure 3 divided by Figure 2.
How can production from reserves and reserves both continue to rise? Let’s take a trip to Mars!
There’s an old saying in the oil industry, “big fields get bigger.”
Gulf of Mexico: Where Big Fields Are Getting Bigger
January 2018 Barry Friedman, Explorer Correspondent
“When you combine the U.S. and Mexico, onshore and offshore, the Gulf of Mexico basin is one of the world’s most prolific hydrocarbon super basins. Over 250 billion barrels of oil equivalent have been discovered to date, and almost 20 percent (currently 18 percent) of U.S. oil production comes from the Gulf of Mexico.
That’s Cindy Yeilding, Senior Vice President, BP America, speaking about the petroleum power and potential of the Gulf as a preview to her upcoming presentation at the AAPG Global Super Basins Leadership Conference in Houston, which will include discussion of the region’s production history and the geologic trends, innovation, and, yes – even failures associated with the region.
The realm of the Gulf of Mexico is not just important to the United States.
“We will also highlight the Gulf of Mexico … and the promise it holds for Mexico,” she said.
Life from the ‘Dead Sea’
Industry has been exploring offshore possibilities in the U.S. Gulf of Mexico since the 1930s, when the first wells were drilled in a few feet of water. It was an exciting time, especially in the late ‘40s.
More:
https://wattsupwiththat.com/2021/08/12/a-peak-oiler-and-an-abiotic-oil-aficionado-walked-into-a-bar-on-the-gulf-of-mexico/
