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Posted Thu Aug 27 2009: from SeekingAlpha, via DesdemonaDespair:
Mexico's Super-giant Cantarell Oilfield Production Falling Off a Cliff http://apocadocs.com/s.pl?1251390861
The eighth largest oil field in the world will be dead by the end of next year. Shall I repeat that, or did you get it the first time?... The result is that Cantarell was pumped out effectively and hard, especially after the technique to re-pressurize the field was adopted. This allowed for a spike high of daily production to be captured for several years, late in its life when a field would otherwise go into gentle decline. The result? Quicker monetization of the oil for the benefit of the Mexican state. But then the price: a catastrophic, fast crash.
[Read more stories about: peak oil, technical cleverness]

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