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seek the light

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seek the light

Re: None

Thursday, 01/19/2017 9:17:52 AM

Thursday, January 19, 2017 9:17:52 AM

Post# of 18778
2016 OFFSHORE DISCOVERED LIQUIDS RESOURCES WERE 90% LOWER THAN IN 2010
January 18, 2017

CORRECTION - 19 Jan 2017

Rystad Energy concludes that the 2016 total offshore discovered liquids resources reached only slightly below 2.3 billion bbl, 90% lower than in 2010. This drop is most significant to the overall decline in discovered volumes; in fact, total global discovered volumes (oil & gas combined) are at an all-time low since the 1940s.

In 2016, the average liquid content in the discovered resources was merely ~40%. Even more tellingly, the replacement ratio* for liquids in 2016 was below 10%. For comparison, the replacement ratio for liquids in 2013 was as high as ~30%.


https://www.rystadenergy.com/NewsEvents/PressReleases/2016-offshore-discovered-liquids-resources-lower-than-in-2010
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