Talking Point:
Brian Maxted estimated a slightly lower total resource of 2.5 tbo vs. McCabe’s 3.1 tbo and shows that 90% of future volumes will be discovered outside of North America. As we have seen, the discovery rate peaked worldwide in the 1960s – before most of us entered the industry – and that strat traps, always difficult to image, are up to 40% of recent discoveries from only 10% back in the 1950s.
Discoveries are down, most of the remaining oil is outside of N Amer, and what is left is hard to image. Where in the world are these remaining hydrocarbon resources located?
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