The Rising Influence of Rising Affluence

[DewDiligence]

Re: Iraq production

CLB’s CEO, David Demshur, thinks the lofty production forecasts for Iraq that have gained some currency are total BS. Demshur should know insofar as CLB is a major player in the Iraqi projects to rejuvenate the major oilfields in the southern part of the country.

Demshur says Iraq will be doing Ok if it merely gets back to the 3.6M boe/d level it enjoyed in the 1970s, which is barely one-third of the 10M figure cited by the WSJ in #msg-52402695.

Source: CLB's 2Q10 CC today