Saudi Arabia
Posted: Wed Jun 20, 2018 8:48 am
https://www.investorvillage.com/groups. ... d=18392769
Most of the Wall Street Gang believes that Saudi Arabia has almost unlimited oil production capacity. That is NOT TRUE.
Go to the link above and then go to the Matt Simmons 2004 presentation.
My SWAG is that Saudi Arabia might be able to take production up to 12 million barrels per day for a very short time (less than a year) before risking serious damage to their major oilfields that are all in secondary recovery. If the producing wells in a waterflood are pulled too hard, it causes "coning" and future oil production can be lost.
Most of the Wall Street Gang believes that Saudi Arabia has almost unlimited oil production capacity. That is NOT TRUE.
Go to the link above and then go to the Matt Simmons 2004 presentation.
My SWAG is that Saudi Arabia might be able to take production up to 12 million barrels per day for a very short time (less than a year) before risking serious damage to their major oilfields that are all in secondary recovery. If the producing wells in a waterflood are pulled too hard, it causes "coning" and future oil production can be lost.