Oil Falls 3 Percent on OPEC Production Cut - 04 June, 2024 07:30 AM
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Unconventional resource development has a remarkable history, combining breakthroughs and advances in both technology and geoscience. The pace of progress might have slowed in recent years, but that history is still being written.
A ransomware cyberattack on the Colonial Pipeline in May brought a short-term disruption of gasoline supplies to the East Coast of the United States. Experts warned the assault has longer-term implications for the oil and gas industry, and for the nation’s critical infrastructure. Following the attack, government agencies quickly vowed to strengthen the nation’s cybersecurity efforts. But the great majority of U.S. energy supply – more than three-quarters, by many estimates – is in the hands of private industry. The Colonial incident “reflects a historically lax cybersecurity culture in the oil and gas industry.”
You might not know her name, but you definitely know her work. When you imagine the ocean floor, it is probably the Marie Tharp map that you see. As a major key to understanding plate tectonics, her work led to many important developments in identifying offshore drilling targets. The maps were displayed at the 100th anniversary of the Library of Congress in the Jefferson Building, along with treasures that included a rough draft of the Declaration of Independence, the Emancipation Proclamation and Lewis and Clark’s journals.
Throughout the past decade, Brazil’s pre-salt basins and giant deepwater oil discoveries have brought significant attention to the country and to the offshore South Atlantic. Though operating in the Brazilian pre-salt play promises billions of barrels of oil, it also requires billions of dollars in investment and technology, something just a handful of companies can bring to the table. While Petrobras and international companies focus their attention on the Brazilian offshore, a handful of Brazilian companies and foreign investors have focused inland, where they are quietly starting Brazil’s onshore revolution.
In North America’s history of building pipelines to transport oil, natural gas and petroleum products, somewhere along the way, the process became political. By pulling the presidential permit on the Keystone XL pipeline, President Joe Biden sent a powerful message: Even if a pipeline benefits citizens and trade relations with important allies, and even if it has met or exceeded design and regulatory requirements and secured community support, its fate can ultimately be determined by a whim.
Steve Brachman, HoD chair, examines the House of Delegates with regard to its expenditures, revenue generated, as well as its functions and benefits to AAPG.
Like many of my age cohort, I often listen to podcasts on my daily commute to work. One of my favorites is Motley Fool’s “Rule Breakers,” a stock market-oriented podcast by David Gardner. One of the common refrains he uses to describe his stock-selecting philosophy is that he looks for “dark clouds I can see through.” The premise is simple: if a company has been beaten down for a good reason, but you have line of sight on that issue being resolved, there exists an opportunity to acquire at a good value and profit from the recovery. Can we see through the dark clouds that hang over the industry today, to a brighter future?
AAPG has a long history as a proactive organization focused on advancing geology, especially as it relates to petroleum, natural gas, other subsurface fluids and mineral resources. As part of this focus, AAPG supports the vital role that AAPG geoscientists play in improving the human condition while minimizing environmental impacts as our members tackle the energy transition’s immense challenges. To this end, future issues of the Environmental Geosciences journal are becoming part of the AAPG Bulletin.
What motivates you? How do you keep going? I have been thinking about how we have been keeping motivated over the past year while most of us have been coping with working from home, juggling office space and taking care of children, along with job losses, health crises, and few (if any) interactions or in-person networking opportunities. I know that many of you have been experiencing all or some of those situations and, unfortunately, it is not over yet!
How are you doing? I was telling a friend recently that I feel like Sylvester Stallone’s Rocky Balboa in the boxing ring. We’ve reached the final round, and I’m battered and bruised, my sharp jabs and uppercuts replaced by exhausted flailing. The big question – the only question – is whether this is the first fight of the film where I end up face down on the canvas, or whether it’s the second with the referee lifting my gloved hand into the air as Bill Conti’s film score soars. How about you? As the months of this pandemic drag on, how are you doing? It turns out there’s a name for what many of us are feeling these days.
For the first time, the American Association of Petroleum Geologists and Geothermal Rising are bringing together geothermal, critical minerals and gases to explore the connections between them, either in the formation of the reservoirs or reserves, or in exploring for, evaluating, and producing them. Specifically, the conference will bring together geothermal, lithium, geologic hydrogen, helium, iodine, and more in the form of technical presentations, probing panel discussions, poster sessions, and more.
Around 170 million years ago, the Gulf of Mexico basin flooded catastrophically, and the pre-existing landscape, which had been a very rugged, arid, semi-desert world, was drowned beneath an inland sea of salt water. The drowned landscape was then buried under kilometers of salt, perfectly preserving the older topography. Now, with high-quality 3D seismic data, the salt appears as a transparent layer, and the details of the drowned world can be seen in exquisite detail, providing a unique snapshot of the world on the eve of the flooding event. We can map out hills and valleys, and a system of river gullies and a large, meandering river system. These rivers in turn fed into a deep central lake, whose surface was about 750m below global sea level. This new knowledge also reveals how the Louann Salt was deposited. In contrast to published models, the salt was deposited in a deep water, hypersaline sea. We can estimate the rate of deposition, and it was very fast; we believe that the entire thickness of several kilometers of salt was laid down in a few tens of thousands of years, making it possibly the fastest sustained deposition seen so far in the geological record.
Request a visit from Frank Peel!
In comparison with the known boundary conditions that promote salt deformation and flow in sedimentary basins, the processes involved with the mobilization of clay-rich detrital sediments are far less well established. This talk will use seismic examples in different tectonic settings to document the variety of shale geometries that can be formed under brittle and ductile deformations.
Request a visit from Juan I. Soto!
Local sea-level changes are not simply a function of global ocean volumes but also the interactions between the solid Earth, the Earth’s gravitational field and the loading and unloading of ice sheets. Contrasting behaviors between Antarctica and Scotland highlight how important the geologic structure beneath the former ice sheets is in determining the interactions between ice sheets and relative sea levels.
Request a visit from Alex Simms!
This presentation is a survey of subsurface machine learning concepts that have been formulated for unconventional asset development, described in the literature, and subsequently patented. Operators that utilize similar subsurface machine learning workflows and other data modelling techniques enjoy a competitive advantage at optimizing the development of unconventional plays.
Request a visit from Shane Prochnow!
Why H₂ is generated in subsurface? Which are the reactions and the promising geological setting? Example in countries where H₂ have already been found: Australia, Brazil. Kinetic reactions: i.e., Is the natural H₂ renewable? What we don't know yet about this resource and about the H₂ systems (generation/transport/accumulation). Overview of the current landscape (subsurface law, permitting, E&P activity)
Request a visit from Isabelle Moretti!
Three-dimensional (3D) seismic-reflection surveys provide one of the most important data types for understanding subsurface depositional systems. Quantitative analysis is commonly restricted to geophysical interpretation of elastic properties of rocks in the subsurface. Wide availability of 3D seismic-reflection data and integration provide opportunities for quantitative analysis of subsurface stratigraphic sequences. Here, we integrate traditional seismic-stratigraphic interpretation with quantitative geomorphologic analysis and numerical modeling to explore new insights into submarine-channel evolution.
Request a visit from Jacob Covault!
The carbonate sequences that were deposited in the now exhumed Tethyan Ocean influence many aspects of our lives today, either by supplying the energy that warms our homes and the fuel that powers our cars or providing the stunning landscapes for both winter and summer vacations. They also represent some of the most intensely studied rock formations in the world and have provided geoscientists with a fascinating insight into the turbulent nature of 250 Million years of Earth’s history. By combining studies from the full range of geoscience disciplines this presentation will trace the development of these carbonate sequences from their initial formation on the margins of large ancient continental masses to their present day locations in and around the Greater Mediterranean and Near East region. The first order control on growth patterns and carbonate platform development by the regional plate-tectonic setting, underlying basin architecture and fluctuations in sea level will be illustrated. The organisms that contribute to sequence development will be revealed to be treasure troves of forensic information. Finally, these rock sequences will be shown to contain all the ingredients necessary to form and retain hydrocarbons and the manner in which major post-depositional tectonic events led to the formation of some of the largest hydrocarbon accumulations in the world will be demonstrated.
Request a visit from Keith Gerdes!
As oil and gas exploration and production occur in deeper basins and more complex geologic settings, accurate characterization and modeling of reservoirs to improve estimated ultimate recovery (EUR) prediction, optimize well placement and maximize recovery become paramount. Existing technologies for reservoir characterization and modeling have proven inadequate for delivering detailed 3D predictions of reservoir architecture, connectivity and rock quality at scales that impact subsurface flow patterns and reservoir performance. Because of the gap between the geophysical and geologic data available (seismic, well logs, cores) and the data needed to model rock heterogeneities at the reservoir scale, constraints from external analog systems are needed. Existing stratigraphic concepts and deposition models are mostly empirical and seldom provide quantitative constraints on fine-scale reservoir heterogeneity. Current reservoir modeling tools are challenged to accurately replicate complex, nonstationary, rock heterogeneity patterns that control connectivity, such as shale layers that serve as flow baffles and barriers.
Request a visit from Tao Sun!
The Betic hinterland, in the westernmost Mediterranean, constitutes a unique example of a stack of metamorphic units. Using a three-dimensional model for the crustal structure of the Betics-Rif area this talk will address the role of crustal flow simultaneously to upper-crustal low-angle faulting in the origin and evolution of the topography.
Paleozoic North America has experienced multiple mountain building events, from Ordovician to Permian, on all margins of the continent. These have had a profound effect on the resulting complex basins and their associated petroleum systems. Subsequent uplift, erosion and overprinting of these ancient systems impedes the direct observation of their tectonic history. However, the basin sedimentary records are more complete, and provide additional insights into the timing and style of the mountain building events. In this study, we employ ~90 1D basin models, ~30 inverse flexural models, isopachs, and paleogeographic maps to better understand the Paleozoic history of North America.
Request a visit from Kurt W. Rudolph!