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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: dave9 who wrote (89142)	8/12/2007 9:03:08 AM
From: CommanderCricket	Read Replies (1) \| Respond to of 206325

"Cantarell. Panic or production fixing?" Neither - good ole fashion accelerating depletion. Doesn't help PEMEX is starved for capital.

To: dave9 who wrote (89142)	8/28/2007 7:07:45 AM
From: Dennis Roth	Respond to of 206325

July oil output drops at Mexico's Cantarell field 27 Aug, 2007, 2340 hrs IST, REUTERS economictimes.indiatimes.com MEXICO CITY: Crude oil output dropped in July at Mexico's aging Cantarell offshore field, according to data published on the energy ministry's Web site on Monday. Cantarell, closely watched by the oil industry after sharp dips in output in recent months, produced an average of 1.526 million barrels per day versus 1.570 million bpd in June. The figure meant Cantarell accounted for just 48.2 per cent of Mexico's overall crude oil output last month, continuing a steady decline over the past year at the field, which once produced around 60 per cent of the country's oil. Analysts worry that state oil monopoly Pemex will struggle to ramp up yields at younger oil fields like Ku Maloob Zaap and Chicontepec fast enough to make up for Cantarell's decline. Pemex is drilling horizontal wells that twist around to reach into narrow oil seams as Cantarell grows drier. It forecasts the field will produce an average of 1.526 million bpd over 2007, down 15 per cent from the 2006 level. The oil company -- which had to temporarily halt offshore production last week as Hurricane Dean tore through the Gulf of Mexico -- recently signed a technology sharing deal with BP that included a study of an air-injection technique to extract more crude from aging oil fields. Mexico is the world's No 5 oil producer by volume and a top-three supplier to the United States.