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Business and Economics

Explorer Director’s Corner

If you’ve ever picked up a book on business – how to start a business, how to run a business, how to save a business – you typically don’t have to page too far before you run into a popular term: “value proposition.” The pandemic is causing us to reassess AAPG’s value proposition for our members and our customers. We must consider that what has worked in the past may not work in the future and that our members’ and the industry’s needs are experiencing fundamental change.

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American Association of Petroleum Geologists (AAPG)
Explorer Article

AAPG’s Latin America and Caribbean Region started 2020 with a strong lineup of technical and business events. The year 2020 was the year of promise. The Hedberg Conference went well in February, but one of the participants from China canceled travel plans because of a coronavirus outbreak in the country. One month later, the world turned upside down. Countries closed their borders, companies sent workers home, and sponsors canceled support. In-person conferences were not just risky but prohibited in most cases. It was time to go back to the drawing board.

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American Association of Petroleum Geologists (AAPG)
Explorer Article

If recent events in the oil and gas sector, especially as it relates to the fallout and contraction from COVID-19, illustrate anything, it is the need for companies to create resilient businesses and business models. “That means having a business plan that anticipates and can adapt to changing conditions due to evolving environment, societal, and governmental pressures.” That’s Joseph R. Davis, independent direct at BKV Corp, an investment E&P firm. “You can’t separate ESG from sustainability,” he said, “for ESG is how business addresses sustainability.”

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American Association of Petroleum Geologists (AAPG)
Explorer Article

Exact predictions of the future have always been close to impossible. For the oil industry today, they might be even harder than that. Some oil companies are taking a wait- and-watch approach to planning, as multiple unknowns face the industry in a period of extreme uncertainty. Trying to predict a precise outlook right now isn’t just foolish, said Mark Finley. It could be dangerous.

American Association of Petroleum Geologists (AAPG)
Explorer Article

What is “brand”? The London-based Design Council notes that: “Brand is a set of associations that a person (or a group of people) makes with a company, product, service, individual or organization. These associations may be intentional – that is, they may be actively promoted by marketing and/or corporate identity – or they may be outside the control of the business.” For example, the growing belief among younger demographics that the fossil fuel industry represents the fuels of their parents.

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American Association of Petroleum Geologists (AAPG)
Explorer President’s Column

“The only certainty in geology is the unexpected will happen” is a bit of wisdom my friend and mentor John Shelton likes to quote. If anything, in this environment, it’s an understatement. AAPG, our members and industry were hit with the perfect storm: —COVID-19, geopolitics and commodity prices. Of course, I don’t need to tell you about it. We have all adjusted to a new world, which includes quarantines, masks, eating in, ordering out, Zoom, MS Teams, etc. The dogs love it, the cats hate it. It’s been tough on all of us and my thoughts and prayers are with you and your families, especially those who have lost loved ones. So … how does all this impact your society?

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American Association of Petroleum Geologists (AAPG)
Explorer Director’s Corner

I know I’m not alone. Each day, as part of my morning routine, just as reliably as I brush my teeth and brew strong coffee, I check the price that oil is trading for on global markets. How do I know I’m not alone? Because my first calls of the day – usually with AAPG leaders – usually begin or end with a reference to oil prices. We all know that watching the price of oil does nothing to boost demand, but still we watch, ever hopeful that today will be a good day in the markets.

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American Association of Petroleum Geologists (AAPG)
Explorer Historical Highlights

The German oil industry did not employ geologists until the 1920s. Instead, they relied on geological surveys and other resources from universities, predominantly from Jakob Stoller of the Prussian Geological Survey. After World War I, with the beginning of private motorization and the interest of the military, demand for oil began to increase. This led to the establishment of a separate department of petroleum geology and the employment of a young geologist, Alfred Bentz, as assistant to Stoller.

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American Association of Petroleum Geologists (AAPG)
Explorer Article

Super basins around the world offer plentiful opportunities for exploration and development, even with the temporarily reduced financial outlook of the oil industry. Ask explorationists to pick a favorite in today’s environment and the popular choice is almost a cheat. The Gulf of Mexico isn’t just a super basin. It’s a huge expanse of prospects and possibilities, of proven resources and potential reserves. An onshore, near-shore, offshore and deepwater exploration province that is really a vast collection of basins and geological features.

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American Association of Petroleum Geologists (AAPG)
Explorer Article

Helium rose back into the news recently, in part because of drilling exploration programs planned for an area along the Alberta-Saskatchewan border in southern Canada. North American Helium Inc. of Calgary announced it had arranged additional equity financing of about $29 million to purchase and construct its second helium purification plant at the Battle Creek field in southwest Saskatchewan and to fund an active drilling program. A number of other companies are reportedly involved in North American helium exploration projects, including Desert Mountain Energy Corp. and Royal Helium Ltd. of Vancouver, Weil Group Resources LLC in Richmond, Va., and Australian explorer Blue Star Energy.

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American Association of Petroleum Geologists (AAPG)
Workshop
Paramaribo, Suriname
Wednesday, 17 January Thursday, 18 January 2024, 8:00 a.m.–5:00 p.m.

Plan now to attend an interactive in-person workshop with industry leaders, government representatives and technical experts working in the Guyana-Suriname Basin.

American Association of Petroleum Geologists (AAPG)
DL Abstract

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.

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Request a visit from Jacob Covault!

American Association of Petroleum Geologists (AAPG)
DL Abstract

While there are many habitats that are associated with the deposition of organic-rich marine and lacustrine source rocks, one important pathway is linked to the onset of increased basin subsidence associated with major tectonic events. A key aspect is that this subsidence is spatially variable, with the uplift of basin flanks contemporaneous with the foundering of the basin center, resulting in a steeper basin profile.

Request a visit from Kurt W. Rudolph!

American Association of Petroleum Geologists (AAPG)
VG Abstract

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.

Request a visit from Juan I. Soto!

American Association of Petroleum Geologists (AAPG)
DL Abstract

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.

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Request a visit from Tao Sun!

American Association of Petroleum Geologists (AAPG)
DL Abstract

President Biden has laid out a bold and ambitious goal of achieving net-zero carbon emissions in the United States by 2050.  The pathway to that target includes cutting total greenhouse gas emissions in half by 2030 and eliminating them entirely from the nation’s electricity sector by 2035. The Office of Fossil Energy and Carbon Management will play an important role in the transition to net-zero carbon emissions by reducing the environmental impacts of fossil energy production and use – and helping decarbonize other hard-to abate sectors.

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Request a visit from Jennifer Wilcox!

American Association of Petroleum Geologists (AAPG)
VG Abstract

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!

American Association of Petroleum Geologists (AAPG)
DL Abstract

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.

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Request a visit from Frank Peel!

American Association of Petroleum Geologists (AAPG)
DL Abstract

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.

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Request a visit from Kurt W. Rudolph!

American Association of Petroleum Geologists (AAPG)
VG Abstract

Production from unconventional petroleum reservoirs includes petroleum from shale, coal, tight-sand and oil-sand. These reservoirs contain enormous quantities of oil and natural gas but pose a technology challenge to both geoscientists and engineers to produce economically on a commercial scale. These reservoirs store large volumes and are widely distributed at different stratigraphic levels and basin types, offering long-term potential for energy supply. Most of these reservoirs are low permeability and porosity that need enhancement with hydraulic fracture stimulation to maximize fluid drainage. Production from these reservoirs is increasing with continued advancement in geological characterization techniques and technology for well drilling, logging, and completion with drainage enhancement. Currently, Australia, Argentina, Canada, Egypt, USA, and Venezuela are producing natural gas from low permeability reservoirs: tight-sand, shale, and coal (CBM). Canada, Russia, USA, and Venezuela are producing heavy oil from oilsand. USA is leading the development of techniques for exploring, and technology for exploiting unconventional gas resources, which can help to develop potential gas-bearing shales of Thailand. The main focus is on source-reservoir-seal shale petroleum plays. In these tight rocks petroleum resides in the micro-pores as well as adsorbed on and in the organics. Shale has very low matrix permeability (nano-darcies) and has highly layered formations with differences in vertical and horizontal properties, vertically non-homogeneous and horizontally anisotropic with complicate natural fractures. Understanding the rocks is critical in selecting fluid drainage enhancement mechanisms; rock properties such as where shale is clay or silica rich, clay types and maturation , kerogen type and maturation, permeability, porosity, and saturation. Most of these plays require horizontal development with large numbers of wells that require an understanding of formation structure, setting and reservoir character and its lateral extension. The quality of shale-gas resources depend on thickness of net pay (>100 m), adequate porosity (>2%), high reservoir pressure (ideally overpressure), high thermal maturity (>1.5% Ro), high organic richness (>2% TOC), low in clay (<50%), high in brittle minerals (quartz, carbonates, feldspars), and favourable in-situ stress. During the past decade, unconventional shale and tight-sand gas plays have become an important supply of natural gas in the US, and now in shale oil as well. As a consequence, interest to assess and explore these plays is rapidly spreading worldwide. The high production potential of shale petroleum resources has contributed to a comparably favourable outlook for increased future petroleum supplies globally. Application of 2D and 3D seismic for defining reservoirs and micro seismic for monitoring fracturing, measuring rock properties downhole (borehole imaging) and in laboratory (mineralogy, porosity, permeability), horizontal drilling (downhole GPS), and hydraulic fracture stimulation (cross-linked gel, slick-water, nitrogen or nitrogen foam) is key in improving production from these huge resources with low productivity factors.

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Request a visit from Ameed Ghori!

American Association of Petroleum Geologists (AAPG)
DL Abstract

For well over a century there have been conflicting indications of the strength of the crust and of faults and what controls them.  Much of our ignorance comes quite naturally from the general inaccessibility of the crust to measurement--in contrast with our understanding of the atmosphere, which is much more accessible to observation as well as more rapidly changing.  Crustal strength is best understood in deforming sedimentary basins where the petroleum industry has made great contributions, particularly in deforming petroleum basins because of the practical need to predict. In this talk we take a broad look at key issues in crustal strength and deformation and what we can learn from boreholes, earthquakes, active fault systems, and toy models.

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Request a visit from John Suppe!

American Association of Petroleum Geologists (AAPG)

Related Interests

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