Oil Rally to Continue in 2022 as Demand Outstrips Supply, Analysts Say - 13 January, 2022 07:35 AM
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Experts Say Investing in Oil and Gas Helps the World Go Green. Here’s Why. - 13 January, 2022 07:33 AM
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Hydrocarbon Potential in Namibia - Call for Abstracts
Expires in 109 days
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.
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.
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.”
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.
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.
“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?
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.
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.
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.
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.
Save the date! Join us for the upcoming AAPG Exploration in Mature Basins GTW to be held from 30 May – 1 June 2022 in Muscat, Oman. More information to follow soon.
Learn to critically evaluate current issues that can impact growth and sustainability of oil and gas ventures.
Recent interest in unconventional gas resources has attracted several oil and gas explorers to sedimentary basins in Southern Quebec.
Presented by Kevin C. Hill, Associate Professor, University of Melbourne
Gravity modelling of Australia's southern margin reveals that the initial rift with Antarctica was beneath the current Ceduna Delta. A regional, high-quality seismic traverse from the coast to oceanic crust across the Bight Basin has been assembled and interpreted in detail, then balanced, restored, decompacted, and replaced at paleo-water depths. The Late Cretaceous Ceduna Delta developed above a Late Jurassic-Early Cretaceous rift basin in three stages punctuated by significant pulses of uplift and erosion across areas >100 km wide and with up to 1 km of erosion. The Cenomanian White Pointer delta prograded into deepening water and hence underwent gravitational collapse. This was terminated in the Santonian when the Antarctic margin was pulled out from below, thus supplying heat to a remnant thicker outer margin crust, causing doming and erosion. Importantly, this established the saucer-shaped geometry of the Ceduna Delta that persisted throughout its development, so that any hydrocarbons generated in the southern half of the basin would have migrated towards this outer margin high. The Tiger Formation was deposited in shallow water in a full rift basin prior to breakup, which was followed by regional thermal subsidence. The Hammerhead delta developed on the newly formed passive margin but was terminated by another pulse of uplift and erosion, perhaps associated with a change in plate motion at the end of the Cretaceous. The finite element modelling of this proposed tectonic evolution will test its validity and predict hydrocarbon generation and migration through time.
Hear panelists’ views on how COVID-19 has affected the legal, financial and technological sectors of the energy industry and what they expect for the future. Topics include energy markets, public policy, infrastructure, transportation, corporate culture, digitalization and the energy transition.
Send questions and comments for speakers, then make your voice heard in virtual roundtables opening 10 minutes after the panel discussion. Forum registration is free of charge thanks to support from our sponsors.
This e-symposium presents techniques for predicting pore pressure in seals by examining case studies from the Gulf of Mexico and incorporating the relationship between rocks, fluids, stress, and pressure.
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.
In a world moving to net-zero emissions during the COVID-driven oil price collapse, there remain important scientific and business opportunities for geoscientists, particularly those with expertise in stratigraphy, sedimentology, reservoir geology and hydrocarbon production. In this webinar, Dr. Julio Friedmann, senior research scholar, Center on Global Energy Policy, Columbia University discusses the challenges this community faces which are not scientific or technical, but rather involve shifts in business model, policy and global market trends.
Webinar presented via Zoom on 11 December 2020 at 11:30 am CST (UTC-6).
The goal of this e-symposium is to provide an overview of the latest trends and technologies for water management for oil and gas drilling, completions, and production.
The presentation will focus on hydraulic fracture geometry in shales, the materials used in the fracturing process, and treatment monitoring via microseismic.
Join us for 'Sustainability-Focused Opportunities'. A webinar to explore investment trends, new opportunities, and strategies for pivoting for new revenue and diversification in today's times. Webinar will be presented via Zoom 7:00pm - 8:30pm CDT 17 June 2020.
This is a less-technical education topic. It can be condensed to an hour or given as 2 two-hour sessions. It stresses selected controversial aspects of fracking that touch some combination of environment and economics and includes a short video of how fracking is done.
Request a visit from David Weinberg!
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