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Title : T+58 -- January 3, 2019
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T+58 -- January 3, 2019

Nonsense: it's either nonsense, or I'm missing something.

In the process of trying to sort out some Bakken data, I went to "oil reserves in Saudi Arabia." The site obviously has not been meaningfully updated in quite some time. It appears most recent data stretches back to George Bush II. On top of that, I can't even make sense of the math. "Cut and paste" from the site:

The proven oil reserves in Saudi Arabia are the 2nd largest in the world, estimated to be 268 billion barrels including 2.5 billion bbls in the Saudi–Kuwaiti neutral zone.

Diplomatic cables leaked during the United States diplomatic cables leak in 2011 revealed that Sadad Ibrahim Al Husseini, former vice president of Saudi Arabia's oil monopoly Saudi Aramco, warned the US that the oil reserves in Saudi Arabia might in fact be 40% (300 billion barrels) lower than claimed.

Note: a "Gbbl" is one billion bbls.

So, in the very first statement at the wiki site, we're told that Saudi's reserves are estimated to be 268 billion bbls. Near the end of the site, we are told that reserves might be 40% (300 billion barrels) lower than claimed. What?

Sidebar poll: the current poll at the sidebar, which has been up for weeks, asked what was the most important data point in the December, 2018, director's cut which posted October, 2018, data. No one was able to provide the correct answer. LOL. Here it is:

Yes, the most important data point in the December, 2018, director's cut was the level of permitting in October, 2018. Getting ready for spring drilling with 183 permits issued in October, 2018. Permitting drives the level of activity in any US oil patch, and one needs to remember that the Bakken (in some people's minds) is maturing, that all the "good" sites have been drilled. The data certainly suggests otherwise. Oil companies don't drill wells to lose money. And they don't drill wells in the Bakken without permits. The "Director's Cuts" are archived here.

http://bit.ly/2dZyQXu

Thus Article T+58 -- January 3, 2019

That's an article T+58 -- January 3, 2019 This time, hopefully can give benefits to all of you. well, see you in posting other articles.

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