Oil Prices Steady as Russia Eases Fuel Export Ban - 25 September, 2023 07:30 AM
Harold Hamm Calls for Consistency In U.S. Oil and Gas Regulation - 25 September, 2023 07:30 AM
Biden Handed Major Legal Defeat in Attempt to Restrict Oil, Gas Drilling in Gulf of Mexico - 25 September, 2023 07:30 AM
New Oil and Gas Rule Would Provide Pathway for CO2 Utilization - 25 September, 2023 07:30 AM
Macron Says France to Ask Oil Industry to Sell Fuels at Cost - 25 September, 2023 07:30 AM
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As vaccinations roll-out globally and governments inject massive stimuli to fuel economic growth, we’re left wondering and hoping that we’re turning a corner. “This recovery is happening more rapidly than expected,” is how a senior oil and gas executive put it recently as she and I discussed the rebound in oil prices and its impact on our industry. Yet, the uncertainty that has dominated our world for more than a year persists, and the convulsions our industry experienced – that many of our members experienced – leave us looking for guidance, for insight to what the future holds.
Along with the rest of the world, the AAPG-YP London Chapter did not escape the repercussions of the gloomy pandemic; adapting to the virtual world was necessary. In the “normal” world, attending a career fair has always been a top priority for any graduating geoscientist, especially in these challenging times for the industry when many jobs have been cut off. On the other hand, many new jobs have sprung up with the energy transition. What are the transferable skills? Is it still worthwhile to get a master’s degree in an oil and gas-related field? Is it still possible to have a career in oil and gas? These were just some of the vital and timely questions raised at the virtual career fair organized in December by the YP London Chapter members.
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.
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.
Plan now to attend an interactive in-person workshop with industry leaders, government representatives and technical experts working in the Guyana-Suriname Basin.
The presentation will focus on hydraulic fracture geometry in shales, the materials used in the fracturing process, and treatment monitoring via microseismic.
This presentation will focus on the seismic stratigraphic and seismic geomorphologic expression of deep-water deposits, including both reservoir and non-reservoir facies.
This study will focus in the combination of λρ – μρ inversion with clustering analysis techniques in order to discriminate brittle zones in the Barnett Shale.
The Mississippian-Devonian Bakken Petroleum System of the Williston Basin is characterized by low-porosity and permeability reservoirs, organic-rich source rocks, and regional hydrocarbon charge.
Climate change is not only happening in the atmosphere but also in the anthroposphere; in some ways the former could drive or exacerbate the latter, with extreme weather excursions and extreme excursions from societal norms occurring all over the earth. Accomplishing geoscience for a common goal – whether that is for successful business activities, resource assessment for public planning, mitigating the impacts of geological hazards, or for the sheer love of furthering knowledge and understanding – can and should be done by a workforce that is equitably developed and supported. Difficulty arises when the value of institutional programs to increase equity and diversity is not realized.
Request a visit from Sherilyn Williams-Stroud!
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