How Peak is determined

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timelyconcepts's picture
timelyconcepts
Status: Member (Offline)
Joined: Feb 28 2011
Posts: 2
How Peak is determined

Hi,

First, I'm very grateful that a friend suggested I take a look at this site.  I plan on going thru it more than once. 

I worked on oil rigs for 15 years starting out in West Texas in 1968.  I think it’s important to note that I’ve been on rigs at TD (total depth); I saw the test results as being high grade crude and the well wanted to flow.  I was also there when we were told to plug it.  No cheaper way of storing it until prices went up than leaving it right in the ground.  When the time was right, as decided by the oil company, a rig would come in and drill out the cement plug and begin producing.  This was back in the 70’s.  I’m not saying we have not reached peak, I just don’t think production information is necessarily a good gage.  And, quite frankly, I have no idea what would give us that information.

Travlin's picture
Travlin
Status: Diamond Member (Offline)
Joined: Apr 15 2010
Posts: 1322
timelyconcepts wrote: I’m
timelyconcepts wrote:

I’m not saying we have not reached peak, I just don’t think production information is necessarily a good gage.  And, quite frankly, I have no idea what would give us that information.

Timelyconcepts

Welcome to the site.  There is a lot of good information and interesting people here.  You made an interesting point in your post, but since US production peaked in the early 70s do you think oil companies would be leaving profits in the ground 40 years later?  I don't know, but with your background I'd be curious what you think.

Travlin 

 

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