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Dry hole. Two of the worst words in offshore exploration. When per-well costs offshore can reach into the hundreds of millions of dollars, no one wants to drill a duster. So are dry holes nothing but failures? “Not if they provide information that sets up the next discovery,” said AAPG member John Snedden.

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The U.S. Gulf of Mexico’s crude oil production is estimated to increase to record high levels in 2017, despite record low price.

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In a time of low energy prices and market volatility, it is more important than ever for energy professionals to develop the tools to stay competitive and efficient. The Offshore Technology Conference (OTC), set for May 2-5 in Houston, provides the perfect opportunity.

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Oil companies and environmentalists are popularly – albeit inaccurately – perceived as natural enemies by the general public. But, the marine life dwelling offshore California and other oil-producing locales knows nothing of this supposed antagonism. All they know are the drilling rigs where they thrive.

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Oil and gas companies usually need loans to operate and survive, so these lending determinations can be crucial. If banks cut back on lending to the industry, drilling can grind to a halt, companies can fail, jobs will be lost. Now there are signs that banks might be ready to do just that.

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Everywhere I go and in every conversation I have with AAPG members, sooner or later – and it’s usually sooner– I’m asked what I’m hearing about the duration of this low price cycle. We’ve all heard the old saying that prediction is difficult, especially of the future.

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For the oil industry, the most worrisome news coming out of the Middle East doesn’t involve geopolitics. It’s well known by now that Iran wants to increase production by at least 500,000 barrels of oil per day as the lifting of international sanctions allows it to resume crude exports. But Iran isn’t alone.

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With Shell abandoning its exploration plans in the Chukchi Sea in September and Statoil following suit in November, many might believe that the North Slope Basin off the northern coast of Alaska has been condemned. Yet those who have put decades into studying the geology of Alaska’s North Slope and Outer Continental Shelf believe the opposite.

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In December 2015, the Committee on Offshore Science and Assessment held its inaugural meeting at the National Academy of Sciences (NAS). The committee, which was established by NAS’s Ocean Studies and Earth Sciences Boards, is sponsored by The Department of Interior’s Bureau of Ocean Energy Management (BOEM). The primary purpose of this new committee is for NAS to assist BOEM by providing ongoing scientific feedback to most effectively manage the nation’s offshore energy resources in a way that is both environmentally and economically sound.

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The long-term projections have changed little in the year since this column last reported on the annual International Energy Agency (IEA) “World Energy Outlook,” but the tone is much different. Last year’s report was concerned about finding the investments to meet demand; now the world has surpluses of oil and gas and a booming renewables industry.  
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In-Person Training
Buenos Aires Argentina 11 May, 2015 12 May, 2015 14137 Desktop /Portals/0/PackFlashItemImages/WebReady/extending-mature-fields-life-cycles-hero.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true Structure, Structural Analysis (Other), Geomechanics and Fracture Analysis, Compressional Systems, Fold and Thrust Belts, Extensional Systems, Sedimentology and Stratigraphy, Sequence Stratigraphy, Clastics, Conventional Sandstones, Eolian Sandstones, Lacustrine Deposits, Carbonates, (Carbonate) Shelf Sand Deposits, Petrophysics and Well Logs, Geophysics, Seismic, Magnetic, Gravity, Direct Hydrocarbon Indicators, Geochemistry and Basin Modeling, Basin Modeling, Maturation, Oil and Gas Analysis, Source Rock, Petroleum Systems, Environmental, Ground Water, Remote Sensing, Reservoir Characterization, Engineering, Seismic Attributes, Geochemical Fingerprinting, 3D Seismic, Production, Tertiary Recovery, Secondary Recovery, Primary Recovery, Drive Mechanisms, Development and Operations, Conventional Drilling, Coring, Business and Economics, Risk Analysis, Reserve Estimation, Resource Estimates, Economics, Deep Sea / Deepwater, Deepwater Turbidites, Marine, Shelf Sand Deposits, Slope, Carbonate Reefs, Carbonate Platforms, Hydraulic Fracturing
 
Buenos Aires, Argentina
11-12 May 2015

Join leading scientists and industry practitioners at Extending Mature Fields’ Life Cycles: the Role of New Technologies & Integrated Strategies, a Geoscience Technology Workshop (GTW) organized by the AAPG Latin America Region and the Asociación Argentina de Geólogos y Geofísicos Petroleros (AAGGP).

Rio de Janeiro Brazil 18 May, 2016 19 May, 2016 24695 Desktop /Portals/0/PackFlashItemImages/WebReady/exploration-production-challenges-hero.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true Business and Economics, Economics, Reserve Estimation, Resource Estimates, Risk Analysis, Development and Operations, Engineering, Conventional Drilling, Geophysics, Seismic, Carbonates, Sedimentology and Stratigraphy, (Carbonate) Shelf Sand Deposits, Carbonate Platforms, Clastics, Conventional Sandstones, Deep Sea / Deepwater, Deepwater Turbidites, Marine, Reservoir Characterization, Structural Traps, Subsalt Traps, Stratigraphic Traps
 
Rio de Janeiro, Brazil
18-19 May 2016

A Geosciences technology workshop hosted by the Associação Brasileira de Geólogos de Petróleo  (ABGP) and the American Association of Petroleum Geologists (AAPG)

Online Training
21 August, 2014 21 August, 2099 10831 Desktop /Portals/0/PackFlashItemImages/WebReady/esymp-mexicos-oil-and-gas-history-new-discoveries-opportunities-and-energy-reform-hero.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
21 August 2014 - 21 August 2099
The goal of this e-symposium is to review the status of the Mexican upstream sector, and to provide a review of the most prolific and prospective areas in Mexico, with a focus on opportunities for international participation, given the upcoming energy reform in Mexico. 
02 October, 2014 02 October, 2014 10593 Desktop /Portals/0/PackFlashItemImages/WebReady/esymp-concepts-of-scale-horizontal-development-of-wolfcamp-shale-oil-of-the-southern-midland-basin-hero.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
2 October 2014
This course is ideal for individuals involved in Midland Basin exploration and development. Successful development of Wolfcamp shale oil relies on complex inter-relationships (ultimately interdependencies) within and between a wide variety of scientific disciplines, financial entities, and company partnerships. 
01 January, 2014 01 January, 9999 3160 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-toc-strategic-decision-making.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2014 - 1 January 9999

Learn to critically evaluate current issues that can impact growth and sustainability of oil and gas ventures.

16 February, 2012 16 February, 2012 1483 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-seismically-driven-characterization-of-unconventional-shale-plays.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
16 February 2012

This presentation describes a proven workflow that uses a standard narrow azimuth 3D seismic, conventional logs, image logs and core data to build five key reservoir properties required for an optimal development of shale plays.

28 July, 2011 28 July, 2011 1476 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-marcellus-shale-integrating-information-to-optimize.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
28 July 2011

This presentation discusses one operator’s approach to fully integrate data captured in the Marcellus Shale in order to optimize horizontal well performance.

14 December, 2010 14 December, 2010 1467 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-sale-gas-in-quebecs-sedimentary-basins.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
14 December 2010

Recent interest in unconventional gas resources has attracted several oil and gas explorers to sedimentary basins in Southern Quebec.

01 January, 2013 31 December, 2016 1449 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-cc-biomass-energy-basics.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2013 - 31 December 2016

Biomass Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for biopower and biofuel.

01 January, 2013 01 January, 9999 1450 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-cc-renewable-non-renewable-resources.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2013 - 1 January 9999

Renewable & Non-Renewable Resources is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for renewable energy.

01 January, 2013 01 January, 9999 1448 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-cc-solar-energy-basics.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2013 - 1 January 9999

Solar Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for solar energy.

01 January, 2013 31 December, 2016 1447 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-cc-wind-energy-basics.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2013 - 31 December 2016

Wind Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for wind energy.

01 January, 2013 01 January, 9999 433 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-cc-geothermal-energy-basics.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
1 January 2013 - 1 January 9999

Geothermal Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for geothermal energy.

14 February, 3000 14 February, 3000 7817 Desktop /Portals/0/PackFlashItemImages/WebReady/oc-es-generic-hero.jpg?width=100&height=100&mode=crop&anchor=middlecenter&quality=75amp;encoder=freeimage&progressive=true
 
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