LifeItself

I've been receiving recurring requests for the links to our publications on shales.  Thus, I have decided to put our shale story together, and update it in the future as the new papers are published. So far, this story consists of 29 papers and one patent published, and eight papers are pending.  Our goal is to describe the well-by-well histories and possible futures of all major US shale plays, starting from the earliest one, the Barnett. To achieve this goal, we have been using a physics-based scaling of individual well production and the generalized extreme value (GEV) statistics for spatio-temporal cohorts of wells.   As an aside, out of 15 or so, only  three of our paper submissions to the Society of Petroleum Engineers (SPE) conferences have been accepted since 2017, and we have given up on the SPE, of which I am a Distinguished Member with 38 years in the Society under my belt.  It is quite sad for me personally, but SPE has been in disarray for sev...

My dear old friends from McKinsey & Company have come up with their view of the world's top technologies .  As a historical note, beginning in the mid 1980's and through the 1990's, McKinsey was instrumental in irreversibly damaging the U.S. oil and gas industry.  McKinsey was hired by the scared oil & gas managers to do a hatchet job on the researchers and operations staffs across the U.S. and - for a lot of money - did a awesomely devastating job. Suffices it to say that the oil and gas industry in the U.S. will never again have the same breadth and depth, ever.  This statement of fact has some interesting connotations when it comes to operating in the ultra-difficult, super-inhospitable environments, which seem to enter into our future.  In fairness to McKinsey and several other consulting outfits, they acted as expensive mercenaries used by management to execute (no pun intended) the already agreed upon plans, as in: "What do you want me to conclude, bo...

Yesterday I gave a presentation to a group of distinguished business leaders.  In my presentation, I tried to show that the global rate of production of petroleum and the associated lease condensate is at an all-time high or a "peak" that at a greatly expanded scale looks like a "plateau."  I used my published, peer-reviewed extensions of King Hubbert's approach to support my arguments. Figure 22 in King Hubbert's report "Nuclear Energy and Fossil Fuels," Publication No. 95, Shell Development Company, Exploration and Production Research, Houston, TX, June 1956. I received a significant push back from several members of the audience.  Their arguments were as follows: King Hubbert tried to address the question of finite resources and today we know he was wrong. Even though Hubbert cycles emerge for individual oil provinces, they cannot emerge for the world.  We have been predicting the peak of global oil production for a long time and it ne...

JPMorgan forecasts oil supply to fall short of demand by 600,000 barrels a day during the third quarter, even with the assumption that the Organization of Petroleum Exporting Countries increases output by 1.2 million barrels a day in coming months. The gap could narrow to 300,000 barrels a day by the fourth quarter, assuming  Saudi Arabia increases production to 9.5 million barrels a day,  Angola  to 1.7 million and  Iraq  to 3 million, though “that may prove a stretch,” the bank said. Output from those three OPEC countries in March was 8.66 million, 1.56 million and 2.69 million barrels a day, respectively, it said. As I pointed out in the April 30 blog , the runaway Global Casino speculates on everything on the Earth and distorts all prices everywhere.  Mr. Casino is totally divorced from Ms. Reality, and his current bets on a lower oil price are as imaginary as his bets to the contrary. Earthlings beware! These speculative bets and brazen market mani...

On January 10, 2011 - 11:49am, the Oildrum posted an article by  Luis de Sousa  Peak Coal: the Olduvai perspective . It is an interesting article and we appreciate the author's arguments against the peak of global rate of coal production.  However, here are a few facts on the ground recorded by Greg Croft and me: Last year, China imported 150/690=22% of all seaborne steam coal traded worldwide in 2010, and projections are that China will try to import more this year.  China also has firm plans of of limiting energy use and shutting down 2,000 coal-intensive industrial facilities.  In short, it seems that China's coal production has peaked.  China produces roughly 1/2 of world's coal. The Oildrum article does not seem to address the ever-increasing mine depths that will ultimately curtail and stop coal production from these mines. Mozambique is going to become the second biggest exporter of metallurgical coal, which is not the same as the second ...