What percentage of subsurface is being cut? Hard to estimate as spread over multiple organisations (CNE, Exploration, Offshore, Subsurface etc..) Anyone have an estimate?
9 replies (most recent on top)
@qy because the model is still incorrect, they narrow the p10 and p90 ranges because their egos. Come next reserves cycle they increase the range and forecast again and act like nothing ever happened.
@c1
Well, if you want us to use first pass sh---y data for everything, rather than updating the model to account for the additional data we get, I suppose we can do that.
Of course, we could go all the way and return to thinking of only four elements, using medicine based on humors, and believing the sun goes around the Earth. Would you like that? No? Then why are you so opposed to updating the model when new data comes in?
Reservoir engineers “seldom in doubt, always wrong”
The overall target will be around 15%. Not too bad since there are always some EOIs and a couple slackers around.
Wave 1 for the 26 and up was practically 0 minus the few EOIs, what with them protecting their pets, so wave 2 is going to be 30-35% at least to make up for it. Nice accountability model.
Who does a subsurface function exist? Process engineers rarely get it wrong but it seems like the subsurface folk are always changing their minds and hypotheses and “updating the model”
20%
ABU Petrotech is supposedly around 10%. Quite a few EOI so pretty smooth sailing here 🚢
In round 1, it seemed much higher than the 15-20% than we were told. Just in my area, it appeared to be ~35%