Sunday, July 7, 2013

Drilling Faster Just To Stay Still: A Proposal To Use ‘Production Per Unit Effort’ (PPUE) As An Indicator Of Peak Oil

Click here to access article by Andrew McKay from The Oil Drum

The author provides an excellent way of assessing peak oil, and the results do not look good.
We can hypothesise that when peak oil occurs we would expect to see PPUE [production per unit effort] decline for all these factors. As rig numbers increased the amount of production would decrease, as footage drilled increased the amount of production would decrease and as the money invested increased the amount of production would decrease.