The key to effective strategic planning is that at some point you have to ask yourself three questions: Does our strategic process produce a plan that’s “real?” Does our plan really work for the organization? Is anybody doing anything? Your AAPG Executive Committee has focused on strategic planning and now we are answering those questions, especially No. 3. Change is critical to taking advantage of new opportunities. One of my favorite quotes on change is from Albert Einstein, “The world as we have created it is a process of our thinking. It cannot be changed without changing our thinking.”
The first semester of 2020 brought challenges to organizations and industries across the world. While COVID-19 and the subsequent economic downturn led many companies to shut their doors, the twin crises inspired others to innovate and explore. For operators working offshore Mexico, activities and strategies developed during 2019 and 2020 have positioned them for success in 2021.
Add the offshore sector to the much-improved outlook for oil and gas. If current projections are correct, offshore activity should be getting a major boost, starting later this year. This expected rebound has more to do with sharply lower drilling and production costs than with higher oil prices.
Desperate to ship crude oil from the oil-rich province of Alberta to the Irving Oil Refinery on Canada’s east coast, Cenovus Energy took the path of least resistance last summer. It sent oil 710 miles through the Trans Mountain Pipeline to its west coast terminal in British Columbia, loaded it on a tanker, and began a 7,500-mile journey – through the Panama Canal – and up the eastern seaboard to New Brunswick. To an outsider, that statement might seem absurd, when the distance between Alberta’s prolific oil sands and the refinery is 2,600 miles – less than a third of the distance traveled by Cenovus. Yet, it was considered a successful transaction, given the fact that there is no pipeline connecting Alberta, the location of the world’s third largest oil reserves, to Canada’s east coast, the location of the country’s largest refinery.
New upgraded access from the AAPG Bulletin. AAPG Member access to the online AAPG Bulletin is moving to a new platform hosted by GeoScienceWorld. You will still be able to read and download all Bulletin articles, from 1917 to the current issue.
In the best of times, AAPG’s Director of Innovation and Emerging Science/ Technology Susan Nash has to weigh the costs and benefits of “the next big thing” out there for the industry, separating the helpful from the hyperbolic, to see which new advancements will have the greatest impact on how the industry moves forward. But undertaking all that in the middle of a pandemic is a whole new ballgame, for it makes an industry – especially one like the oil and gas industry – to take stock of exactly what the possibilities and ramifications will be when the future landscape has been so transfigured by recent events that it is almost unrecognizable from anything that preceded it
Later this month here in the Northern Hemisphere, we’ll enjoy the spring equinox and with it the passing of winter to spring. For those of us here in North America, particularly our members in Texas who recently experienced a polar vortex accompanied by snow, ice and freezing temperatures, this transition is welcome. With spring comes new beginnings and that, too, is welcome. The concerns of COVID have not vanished, but as vaccinations roll out across the globe, we glimpse the possibility of recovery. I am hopeful.
“Every success story is a tale of constant adaption, revision and change,” said Sir Richard Branson, CEO of Virgin Galactic. This is true of many scientific and business ventures buffeted by 2020's economic chaos. “Survive and thrive” describes the efforts of all the AAPG sections and affiliated societies. Our AAPG sections include the nation's most vital and historic geological societies. As the new AAPG vice president of sections, it is an honor to host a monthly virtual teleconference meeting with the section presidents, presidents-elect and society leaders.
Management with the Dynamic Group of Houston are convinced after four years of study that they have identified significant new play potential deep on the west Louisiana shelf, a province largely regarded by industry as mature for exploration. “Most of our industry thinks the U.S. shelf is in late life, and the only remaining opportunities are for low-risk, low volume exploitation targets,” said Rob Pascoe, managing director and chief geologist. “We believe that may not be the whole story. Our studies describe a large-scale new play, with the potential to be liquids rich and high value.” He said new technology and geological insights are the key.
I was watching some old movies during a recent snowstorm in Tulsa. One of them was “Back to the Future.” In this case, “the future” was 2015. The movie “Rollerball” was set in 2018, and “Terminator” was supposed to be from 2020-30. Have you ever noticed that the future is not that far away? As you could see from my last column, I’ve had “the future” on my mind. So, in thinking again about the future, I want to discuss governance. This will not be my most exciting column, but it is important.
Executive summary of the AAPG 2022 Member/Customer Planning Survey
Courtesy of AAPG and AAPG Datapages, two Discovery Series data sets have been donated free of charge for use as online teaching materials. Discovery Series 10 – Sandstone Petrology: A Tutorial Petrographic Image Atlas 2nd Edition and Discovery Series 15 – Carbonate Petrology: Interactive Petrography Tutorial, both authored by Kitty Milliken, have been posted online for easy accessibility.
Claudia J. Hackbarth, a Houston-based geologist who has held a variety of management and leadership positions for the Royal Dutch Shell Group, assumed the presidency of AAPG on July 1.
Results of the 2022 AAPG Member/Customer Planning Survey.
AAPG publications are widely read by geologists, geophysicists and reservoir engineers. Are they your target audience? Then take advantage of the many advertising opportunities available in AAPG’s news and journal magazines.
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