Oil Rises 1 Percent as OPEC= Focus on Supply Cuts Outweighs Recession Concerns - 23 November, 2022 07:30 AM
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Recent Discoveries, Exploration Opportunities and Sustainable Development Strategies in Caribbean Basins CFA
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In the first part of this series, we showed the energy transition will follow an “all of the above” trajectory, irrespective of aspirational messages. Our conclusions are based on the inherent limitations of wind and solar low-density energy machines for generating base-load power: low-density energy machines would cover hundreds of millions of acres. Also in part 1, we discussed Princeton University’s Net Zero America report, an outstanding, 18-author study of five models to de-carbonize the United States by 2050. The report does not mention environmental impact of LDEMs.
While it is evident that the world will rely on oil and gas for years to come, some industry geoscientists are paving a path toward a future in alternative energy and other geoscience-related careers. Geoscientists are needed for research and development in areas of geothermal science, minerals and mining, and carbon and energy storage. They also are needed for projects that require knowledge of geology, subsurface imaging, reservoir development, satellite mapping, geotraining, multiphysics and smart data solutions.
These days, more uncertain than the price of gas, especially with the announcement last month from
the administration to ban the import of Russian oil and gas, combined with the European Union’s decision to cut imports by 80 percent, is the question of whether the world will get the energy it needs – and who will provide it.
To that end, it’s worth considering what conventional oil and gas reservoirs here in America can be drilled and placed online quickly to help fill that need.
When the International Petroleum Technology Conference comes to Saudi Arabia in February, the technical program will include a significant look at both unconventional oil and gas and conventional tight oil in the Middle East. Those are two different concepts in the region and the distinctions are important. The Middle East holds a large conventional tight oil resource, now emerging as a serious focus for development. With so much recent attention devoted to unconventional resources, conventional tight oil could be considered an overlooked sibling.
Before unconventional resources became prevalent in the global petroleum supply, deepwater exploration and development was a significant focus for many larger companies. For deepwater activities to succeed, the petroleum industry was forced to merge its above-ground concerns with the below-ground geoscience and engineering disciplines.
What is “unconventional wisdom?” It’s the wisdom obtained from half a century of important conferences organized by the AAPG Eastern Section, founded in 1971, which recently celebrated at its 50th annual conference in Pittsburgh. The Pittsburgh Geological Society, founded in 1945, co-hosted the conference with the Pittsburgh Association of Petroleum Geologists, created in 1984. “The theme ‘Unconventional Wisdom’ is intended to reflect not only the unconventional resources and reservoirs that have brought life to the Appalachian basin, but also to appreciate the broad heritage of our science and vocation,” said conference General Chair John Corbett.
Natural gas was first commercially discovered in the San Juan Basin of New Mexico in 1921, making this year the Basin’s centennial. The first San Juan Basin natural gas strike occurred one mile south of Aztec, N.M., when the Aztec Oil Syndicate completed their No. 1 State. Production was found at a depth of about 1,000 feet. The gas discovered south of Aztec was piped into town and used domestically throughout most of the 1920s. This was the first commercial use of natural gas in New Mexico or the San Juan Basin. Located in northwest New Mexico and southwest Colorado, the San Juan is one of the largest gas basins in the United States, along with the Marcellus in the Appalachian Basin and the greater Hugoton Field of Texas, Oklahoma and Kansas.
“The beauty of the unconventionals is, while they’re expensive, we know where they are.” That’s Carlos Torres-Verdin, Brian James Jennings memorial endowed chair and Zarrow centennial professor of petroleum engineering at the University of Texas at Austin, talking about the promise of unconventional energy production in the United States, both from an industry standpoint and with a view to its position in the country’s future energy mix. According to a study by the Harvard University Business School, by 2030, 3.8 million jobs, half of which would be accessible to middle-skilled workers, could potentially be supported by the development of unconventional resources.
Increasing global concern about climate change and its impact on the environment and society has led to a variety of strategies to reduce carbon dioxide emissions and to remove CO₂ from the atmosphere and find places to store it. Many companies are hard at work to perfect methods of carbon capture, use, and storage. Franek Hasiuk, associate scientist at Kansas Geological Survey, said CCUS is the best technology available to reduce emissions produced by the global economy. Hasiuk is part of a team of scientists working on the Integrated Midcontinent Stacked Carbon Storage Hub, a project to investigate subsurface geology in southwest Kansas and southwest Nebraska and demonstrate the viability of injecting CO₂ into underground rock layers.
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.
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.
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.
Unger Field, discovered in1955, has produced 8.6 million barrels of oil from a thinly (several ft) bedded, locally cherty dolomite containing vuggy and intercrystalline porosity.
This presentation will show where there are cases of missing sections, but none of them can be attributed to normal faulting.
Wind Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for wind energy.
The presentation will focus on hydraulic fracture geometry in shales, the materials used in the fracturing process, and treatment monitoring via microseismic.
This course introduces the learner to the fundamentals of shale gas, including current theories that explain its origin, and how to determine which reservoirs are commercially viable.
Geothermal Energy Basics is an online course that enables participants to review, analyze, and evaluate opportunities in the rapidly expanding market for geothermal energy.
Effective hydraulic fracture stimulation is critical for shale development, and microseismic is the only technology able to map the growth of these hydraulic fracture networks.
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.
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