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A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day

 
Green Man
User ID: 108824
United States
01/29/2007 10:11 PM
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A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
As of last year, this was the world's second-largest oil field in terms of daily production. Not sure where it stands today, might have slipped to number three.

[link to www.rigzone.com]

Daily output at Mexico's biggest oil field tumbled by half a million barrels last year, according to figures released Friday by the Mexican government. ... The virtual collapse at Cantarell -- the world's second-biggest oil field in terms of output at the start of last year -- is unfolding much faster than projections from Mexico's state-run oil giant Petroleos Mexicanos, or Pemex. Cantarell's daily output fell to 1.5 million barrels in December compared to 1.99 million barrels in January, according to figures from the Mexican Energy Ministry. ... Mexico's troubles at Cantarell mirror the larger problems in the global oil market. Many of the world's biggest fields are old and face decline, which can be sharp and sudden. ... The field's decline is expected to continue, if not worsen, this year, according to most estimates. ... "This is bad news for Mexico. The field is declining faster than even the government's pessimistic scenarios," says David Shields, an oil industry consultant in Mexico City who has been warning about Cantarell's collapse for the past two years. ... A year ago, The Wall Street Journal published an internal Pemex study that reviewed possible scenarios at Cantarell. The study's best-case scenario forecast Cantarell's production would fall to 1.54 million barrels a day by the end of last year -- almost exactly what happened. At the time, top Pemex officials disputed the report and said the study's scenario represented a "do-nothing" or "worst-case" approach that didn't take into account maintenance at the field. Pemex predicted that Cantarell production would only drop to 1.87 million barrels a day by December ... Based on the state company's track record so far at Cantarell, including its current rates of recovering the oil that remains in the field, Mr. Shields expects the field's output to drop another 600,000 barrels a day by the end of this year. He says that Pemex will likely increase output by 200,000 barrels a day at other fields -- leaving the country with a net decline of 400,000 barrels a day by year's end.
Anonymous Coward
User ID: 175983
United States
01/29/2007 10:31 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
hahahahahahah nobody on this board responds to real doom,
only imaginary, half-baked and unproven doom!

I, for one, have been reading up on peak oil for the last tear and its some serious ass doom.


We get quite a bit of our oil from Mexico too.
Anonymous Coward
User ID: 188675
Switzerland
01/29/2007 10:32 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
Despite a declining global output since Spetember 2005, the illuminati brought the price from $80 to $49.90, at least for a few minutes.

But now the end of the tricks used to do it is near.

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Faaip de oaid

User ID: 134216
United States
01/29/2007 10:38 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
mexican invasion in full throttle anyone?

There is a huge oil reserve that hasn't even been tapped in the middle of Nevada. Eventually humanity will resort to "free" or "zero point" energy. This may happen after the doom fallout. i dun know
think for yourself, question authority.. - Dr. Timothy Leary ... Life!.. it's just a ride! - Bill Hicks
The possession of anything begins in the mind - Bruce Lee

The most beautiful thing we can experience is the mysterious.... - ALBERT EINSTEIN
~ * ~
opposing zealousness at roots ultimately suffer
Though our 'creators'(..'in our image' - Genesis) may have given us life. Bighting the hand that feeds you has never been such a wise phrase.
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Green Man (OP)
User ID: 108824
United States
01/29/2007 10:49 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
hahahahahahah nobody on this board responds to real doom,
only imaginary, half-baked and unproven doom!

I, for one, have been reading up on peak oil for the last tear and its some serious ass doom.


We get quite a bit of our oil from Mexico too.
 Quoting: Anonymous Coward 175983


Real doom is too scary, AC. It also doesn't come with a specific date so that when it has passed people can go "phew, no doom after all". It just keeps getting worse.

Mexico is our second largest supplier after Canada.
Anonymous Coward
User ID: 149186
United States
01/29/2007 10:55 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
Wonder if Mexico is interested in selling its oil for Euros instead of dollars....
THE DOOM

User ID: 87027
Australia
01/29/2007 10:56 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
hahahahahahah nobody on this board responds to real doom,
only imaginary, half-baked and unproven doom!

I, for one, have been reading up on peak oil for the last tear and its some serious ass doom.


We get quite a bit of our oil from Mexico too.
 Quoting: Anonymous Coward 175983


Really??

NO one??

I take it ya havent read any of my posts then?


I been saying this shit for years now..

SO DOOOOOMED!!!!
Anonymous Coward
User ID: 183707
Australia
01/29/2007 11:00 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
THE DOOM headbang
Isaac Brock died for us

User ID: 83547
Canada
01/29/2007 11:20 PM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
Are you living in Mexico, Green Man?
Because where I sit, I have the Pembina basin to the west, the Leduc fields to the south, the tar sands to the north, and my friend is opening a bio-diesel plant to harvest canola waste byproducts.
I don't feel very doomed by your post.
owner of an extensive collection of curios from the exotic orient
Anonymous Coward
User ID: 216993
United States
03/31/2007 11:20 AM
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Re: A Little Monday Night Doom - Cantarell in Mexico down Half Million Barrels per Day
bump

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