Newsletter dated 2-20-2018
Posted: Tue Feb 20, 2018 10:19 am
Comment emailed to me from one of our smart members with decades of industry experience:
"On your myth number 5, let me add a thought. This comes from TPH in a presentation to FEI about a year ago. When oil was at or over $100, did any new production come on in OPEC or Russia? The only area that saw an increase was North America. No other geologic province increased production. That tells you that if it were there, it would have been brought on to produce during a period of $100 + oil. It is the belief of TPH that any production outside of North America and big offshore projects requiring years to develop do not exist".
Please share your thoughts on the newsletter here.
"On your myth number 5, let me add a thought. This comes from TPH in a presentation to FEI about a year ago. When oil was at or over $100, did any new production come on in OPEC or Russia? The only area that saw an increase was North America. No other geologic province increased production. That tells you that if it were there, it would have been brought on to produce during a period of $100 + oil. It is the belief of TPH that any production outside of North America and big offshore projects requiring years to develop do not exist".
Please share your thoughts on the newsletter here.