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Title : Chevron Posts Strongest Year Of Crude Oil Discoveries Since 2011 -- February 2, 2018
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Chevron Posts Strongest Year Of Crude Oil Discoveries Since 2011 -- February 2, 2018

I have a fairly long post with updates regarding all the hand-wringing about "decreased conventional discoveries" and how that will lead to a scarcity of oil in the "near future." Some refer to this as "peak oil."

Two graphs at that link:

Today, Don sends me the link to this article from Bloomberg: Chevron posts strongest year of crude discoveries since 2011.

Chevron found enough untapped fields to replace 155 percent of the crude and gas it pumped last year, the highest reserves replacement since 2011. The biggest additions were in the U.S. Permian Basin and Australia, the company said in a statement on Friday.

Yes, much of that is shale, but oil is oil.

http://ift.tt/2dZyQXu

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