Cantarell stabilizes
on Sep 28 in Oil Exploration tagged by Trevor HicksPemex reports that Cantarell production stayed essentially flat in August, ending many, many months of substantial consecutive declines. This is excellent news, Reuters reports:
The Cantarell unit, which includes the giant field along with several nearby satellite reservoirs, produced 650,154 bpd in August, up from 646,557 bpd in July, according to the energy ministry. Output at Cantarell was 34 percent below what it yielded in August 2008.
Mexican President Felipe Calderon fired Pemex’s chief executive earlier this month in part due to frustration over the company’s repeated failure to meet production goals.
This coincidental timing initially set my cynicism-receptors into overdrive, but then I thought, why would the new guy massage the numbers from the old guy’s final month? Let’s hope Pemex can sustain this new production level.
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