Yeah, I’m still new to this effort of watching the energy field. One of the things that still amazes me is the frequency with which the geology wizards find another billion or so barrels of recoverable oil that ‘we’ didn’t know about and a decade ago couldn’t get out of the ground profitably even if the wizards had known for sure it was there.
3/9/17 – E&P – Repsol, Armstrong Strike Big Oil Find in Alaska’s North Slope – The two companies announced a find in the Nanushuk Play with 1.2 billion barrels of recoverable oil. Two wells confirm the find.
First production is expected in 2021, four years from now. Production level expected to hit 120,000 bopd, or 43.8M barrels a year.
Oh, what Peak Oil?
By the way, I’m having a hard time keeping track of all these massive new finds of oil which either nobody knew about a decade ago or it would have been technically impossible to ever get any of it out of the ground.