Brent

[captainjamestkirk]

I don't know if those of you that have worked in the industry, shared in the success of Brent. A few probably did as investors.
You may be interested in this article:
http://www.telegraph.co.uk/business/201 ... -stalwart/

[dspp]

It is a pretty good recovery factor given those reservoirs. It doesn't appear to be hardware issues.

[Nimrod103]

It is a pretty good recovery factor given those reservoirs. It doesn't appear to be hardware issues.

Agreed, but perhaps Shell have decided to pull the plug now a bit early, before age and maintenance issues raise the risk of it falling down. Reputational damage and all that.

[dspp]

Surely the reservoir is fully depressurised now ? Surely they're mostly just sucking water these days.

[PeterGray]

I remember Simmons arguing in Twilight in the Desert that Brent, and the UKNS, had been overproduced in the 80s and that ultimate recoverability was lower as a result than comparable fields in the Norwegian NS where they had taken a longer term view. I don't know if history bears that out or not.

Peter

[Nimrod103]

Surely the reservoir is fully depressurised now ? Surely they're mostly just sucking water these days.

It seems that oil production from the original Jurassic reservoir ended in about 2011-2 (https://rbnenergy.com/crazy-little-crud ... ing-market), and since then the field has only been producing gas and condensate from the underlying Triassic reservoir. I'm not sure whether production is now stopping because of uneconomic reservoir pressure, or whether wells have watered out. Either way, it has reached an economic limit.