A year ago, we argued that the Bakken oil play would not peak by 2017, as some were predicting. In July, evidence came in that we were right when the USGS upped its reserve estimates. Now it looks like initial daily production for Bakken wells is increasing: e.g., new finds are more productive than older ones.
Some of the improvement is technical, some is geological, and both augur well for future growth. Add to that the massive potential in the Permian and the Monterey shale, and it is all upside.
For a skeptical discussion of this data, however, visit here. Worth reading, although they are probably wrong. But the Peak Oil Barrel site is a useful tonic; it is worth thinking through why you disagree.
Yeah, I saw that growth at Eagle Ford, and I was like, whuh? Interesting that the peak oil blog thought so as well, when I followed the link. Everything I've ever read about Eagle Ford indicated that were restraints on profitable exploitation, especially compared to the Bakken formations. If I judged the graphs accurately, looks like they were mildly successful in finding exploitable wells in the two years prior to 2013, and found a gusher or two in 2013. Now gunna read the comments, which looks technical.
Posted by: shah8 | December 27, 2013 at 04:38 PM