Peak Oil? What Peak Oil? ExxonMobil Reports Another Successful Off-Shore Guyana Well -- February 28, 2018

On February 23, 2018, this from the blog:

Peak oil? What peak oil? During the past two years there have been numerous articles on lack of investment in offshore projects which some suggest are desperately needed to forestall a shortage of oil in the out year (think, "Peak Oil"). Today, from a GlobalData press release: investment of $97 billion on top ten offshore oil projects will add 1.6 million bopd by 2025. Looks like we have a successful project

Looks like we have a success project. ExxonMobil projects 500,000 bopd from the Guyana play. Data points: 

• ExxonMobil has made a seventh oil discovery off-shore Guyana's deepwater Stabroek blck; this play will eventually expand to 500,000 bopd
• reservoir: 65 feet of high-quality, oil-bearing sandstone
• ExxonMobil's first discovery in this area was back in May, 2015: discovered more than 1 billion bbls of oil equivalent; API 32 crude (heavy oil)
• estimated recoverable resources from Stabroek exceed 3.2 billioin of boe

Much more at the link.

But look at that: the GlobalData article suggested an additional 1.6 million bopd by 2025. ExxonMobil added one-half million after one successful well. This suggests to me that the "1.6 million bopd" figure is on the low side. By a lot.