06 Jul '12, 10am

Maugeri numbers demolished by SPRU and UCL experts here Take note @georgemonbiot @marklynas @lionelbadal #oil #peakoil

Decline rates and depletion rates The rate of oil production from an oilfield normally rises to a peak or plateau and then declines. The term decline rate refers to the percentage annual reduction in the rate of production (in barrels/day) from an individual field or a group of fields. When measuring the average decline rate for a group of fields, it is important to distinguish between the overall decline rate which refers to all currently producing fields, including those that have yet to pass their peak, and the post-peak decline rate which refers to the subset of fields that are in decline. Some analysts also estimate the natural decline rate, which indicates the rate at which production would decline in the absence of any additional capital investment. When estimating the average decline rate for a group of fields, it is common to weight the decline rate of each field ...

Full article: http://www.odac-info.org/newsletter/2012/07/06

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