[OregonRancher]

One problem with this report; Its done by the USGS office which historically over inflates the figures by huge margins. It has never been close to the actual recovered resources established by the actually drillers and producers. Plus, show me a well that delievers much over 50%. With water intrusion and gas caps, that's about the limit of economically recoverable crude, and
that's sweet, light crude.

[Who is John Galt?]

One problem with this report; Its done by the USGS office which historically over inflates the figures by huge margins. It has never been close to the actual recovered resources established by the actually drillers and producers.

Actually, at one time I worked for the U.S.G.S., with a group that produced estimates of oil & gas reserves. In my experience, U.S.G.S./M.M.S. estimates are quite conservative. When Pt. Arguello Field was discovered offshore California, for example, the U.S.G.S. estimated recoverable oil reserves at several hundred million barrels. Industry, on the other hand, was publishing reports (in the Oil & Gas Journal and elsewhere) indicating several billion barrels in reserves. Guess who was right?

;>)

Plus, show me a well that delievers much over 50%. With water intrusion and gas caps, that's about the limit of economically recoverable crude, and that's sweet, light crude.

Check out the source: the numbers quoted are for recoverable resources, not oil-in-place...

;>)

[thackney]

Its done by the USGS office which historically over inflates the figures by huge margins.

The USGS figures are typically below the amount of oil produced in most areas.