Friday, December 23, 2016

Pemex Oil and Gas Production Continues Its Slow Collapse in November

Mexico seems to have accepted the terminal decline curve of its developed oil and gas resources, as liquids output fell for the 5th month, this time by 31,000 barrels per day, to a new low of 2.072 MMBOEPD.  Output fell for every type of crude, and in every region.  

Natural gas output was also down as expected, from the previous month.  Production declined by 68 Million, from 5.583 BCF to 5.515 BCF, a new low.  This coincides with increased pipeline imports from the US, which have increased about 1 BCFD over the last year.  

Here are the graphs for liquids and gas production by region, and by type: