Barclay's - Cantarell No Longer #1 Field Even Within Mexico - FT

[hatrack]

Mexico’s declining oil output has been evident for some time now - and it suffered a symbolic setback when its massive Cantarell field fell so sharply that it lost its place as the country’s number one field.

Analysts at Barclays Capital point out that this year’s decline will actually be slightly less bad than last year’s:

For the year to date, Mexican oil output is down 6.3%. While this represents a deceleration compared to the 8.9% fall recorded in 2008, it is still a much faster pace of decline than that averaged since the start of the Mexican oil production downtrend in 2005.

EDIT

http://blogs.ft.com/energy-source/2009/12/02/mexican-oil-production-from-bad-to-worse/

[pscot]

1. Gee. That didn't take long at all

Our modern, more efficient techniques for extracting oil have resulted in significant reductions in depletion times. Nowdays, when a field runs dry, it's really dry.

[NickB79]

2. Weeee!

Wait, that isn't a depiction of a new roller coaster opening at Disney?