Table of Contents

 

Oil and gas companies usually need loans to operate and survive, so these lending determinations can be crucial. If banks cut back on lending to the industry, drilling can grind to a halt, companies can fail, jobs will be lost. Now there are signs that banks might be ready to do just that.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/explorer-hero-2016-04april.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28444 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/explorer-hero-2016-04april.jpg
 

Ongoing drought conditions in the Pacific Section affect everybody, especially the oil industry.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/alleviating-impacts-from-drought-in-california-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28446 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/alleviating-impacts-from-drought-in-california-hero.jpg

Emphasis: Offshore Developments

 

Oil companies and environmentalists are popularly – albeit inaccurately – perceived as natural enemies by the general public. But, the marine life dwelling offshore California and other oil-producing locales knows nothing of this supposed antagonism. All they know are the drilling rigs where they thrive.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/oil-rigs-become-haven-for-sea-life-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28447 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/oil-rigs-become-haven-for-sea-life-hero.jpg
 

In a time of low energy prices and market volatility, it is more important than ever for energy professionals to develop the tools to stay competitive and efficient. The Offshore Technology Conference (OTC), set for May 2-5 in Houston, provides the perfect opportunity.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/otc-houston-promotes-efficiency-resiliency-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28463 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/otc-houston-promotes-efficiency-resiliency-hero.jpg
 

The U.S. Gulf of Mexico’s crude oil production is estimated to increase to record high levels in 2017, despite record low price.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/production-on-the-rise-in-gom-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28465 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/production-on-the-rise-in-gom-hero.jpg
 

Dry hole. Two of the worst words in offshore exploration. When per-well costs offshore can reach into the hundreds of millions of dollars, no one wants to drill a duster. So are dry holes nothing but failures? “Not if they provide information that sets up the next discovery,” said AAPG member John Snedden.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/how-to-turn-a-dry-hole-into-a-success-story-hero.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28466 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/how-to-turn-a-dry-hole-into-a-success-story-hero.jpg
 

A positive aspect to price downturns is that they provide the gift of time to develop new, more efficient technologies to enhance anticipated upswings. To this end, improvements in the realm of already existing technologies, such as enhanced oil recovery applications, are underway given the anticipation for higher demand and prices in the future.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/mcconnell-charles--2016-04apr.jpg?width=100&h=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true 28467 http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/mcconnell-charles--2016-04apr.jpg

Standing Columns

This has been a difficult year for all of the scientific associations with whom we closely work. AAPG has, like them, made a difficult choice to further reduce our staff size, for the second time this fiscal year, and once again great folks who have been with us for many years are now looking for new employment.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/hogg-john-2016-04apr.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/hogg-john-2016-04apr.jpg 28469 Explorer President’s Column

We are busily restructuring the way AAPG conducts business here in Tulsa and around the globe. It’s a project forced upon us by the extended downturn in oil and natural gas prices and the impact the decline is having on our members and on the petroleum industry. Like you, we feel this impact directly, as the Association has had to reduce its staff levels in response to lower revenues.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/curtiss-david-2016-04apr.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/curtiss-david-2016-04apr.jpg 28470 Explorer Director’s Corner

In the past eight months, our industry has continued to be challenged by low commodity prices resulting in difficult times for many geoscientists in our industry. To everyone who has been affected and to those of you who are concerned that you will be, remember to stay focused and be optimistic about your future.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/canich-michael-2016-04apr.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/canich-michael-2016-04apr.jpg 28471 Explorer Division Column DPA

Over the last few years, several articles on multicomponent seismic data have appeared in Geophysical Corner describing various aspects of processing and interpretation of such data. In this article, we address an important question about correlation of synthetic seismograms with converted wave PS seismic data.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/synthetic-seismograms-for-ps-seismic-data-hero.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/synthetic-seismograms-for-ps-seismic-data-hero.jpg 28472 Explorer Geophysical Corner

When one of us joined Royal Dutch Shell in 1980, seven out of 27 young professionals in the basic training course were Swiss – a remarkable number of students from a tiny country that does not produce oil or gas. The term “Swiss mafia” was coined by our Dutch colleagues, and it wasn’t meant in a complimentary sense.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/the-rise-of-the-swiss-mafia-hero.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/the-rise-of-the-swiss-mafia-hero.jpg 28474 Explorer Historical Highlights

In late February, the first liquefied natural gas (LNG) shipment left the United States. It sailed into an economically difficult global market with excess supplies of LNG, sluggish growth in energy demand, and exceptionally low oil prices against which global LNG prices are often set. However, many analysts and policymakers see reasons to expect growing demand for U.S. LNG.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/allison-eddie-2016-04apr.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/allison-eddie-2016-04apr.jpg 28476 Explorer Policy Watch

William E. Gipson, longtime supporter of the AAPG Foundation and former chair of the AAPG Foundation Trustees, has been named recipient of this year’s L. Austin Weeks Memorial Medal.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/foundations-highest-honor-goes-to-william-e-gipson-hero.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/foundations-highest-honor-goes-to-william-e-gipson-hero.jpg 28477 Explorer Foundation Update

The Canada Region Young Professional (YP) Committee has been making great strides to increase awareness and activities for YP members in the Region. Our current initiatives include improving the student-to-YP transition, collaborating with other societies and expanding knowledge of the YP program beyond Calgary, Canada’s central oil patch.

American Association of Petroleum Geologists (AAPG)
Desktop /Portals/0/PackFlashItemImages/WebReady/canada-region-yps-prepare-for-ace-2016-ramp-up-activities-hero.jpg?width=50&h=50&mode=crop&anchor=middlecenter&quality=90amp;encoder=freeimage&progressive=true http://img.aapg.org/Portals/0/PackFlashItemImages/WebReady/canada-region-yps-prepare-for-ace-2016-ramp-up-activities-hero.jpg 28478 Explorer ProTracks

News & Features