Basin and play exploration are inherently governed by the management of risk and uncertainty at the portfolio level. Exploration investment decisions biased by risk-averse teams are susceptible to first-order basin statistics which may reflect a historical “poor” exploration history and exhaustion of existing play concepts. New concepts, new models, new thinking, and consideration of alternatives often result in a paradigm shift despite previous negative results.
As a consequence of COVID-19, most trade shows and events planned during 2020-2021 will be virtual, which places new demands on the exhibitors. To differentiate the company or the opportunities available for sale, and to draw the attention of the event visitors, new digital offerings are required.
José Lázaro Jefe Ejecutivo de eMan para Norteamérica, explica cómo PetroXP puede ayudar desde el punto de vista tecnológico y de innovación a las compañías y cuáles oportunidades tecnológicas pudieran implementarse en la industria de Petróleo y Gas para optimizar costos, mejorar la eficiencia en operaciones, crear una mejor conectividad de los procesos y optimizar las comunicaciones?
The purpose of the survey is to collect information across different companies and geographies and help the industry in recovery after the crisis. There are many publications about how lost we became and the recognition that people want to return to a "new normal." There is an understanding that this "new normal" should reflect not only our new hygiene practices but also help us to reconnect with our lives, families, and friends, make our work more meaningful, and help us to focus on things that are important in our lives.
6X is a fully-featured, multi-component numerical reservoir simulator. The model incorporates the physics required to capture the hydraulic fracturing and production periods. Engineers can determine how fractures are created, induced, and close evaluating their impact on a well’s production and the production of neighboring wells.
These reports analyze USL48 basin oil & gas assets, operating companies, production, capex, rigs deployed, and the number of new wells brought online, looking back at the past four quarters and looking forward to the next four quarters.
The playbook for fiscal responsibility has an accepted approach in the low-price environment: cut cost. But what gets cut first, and do we cut an opportunity to grow in the future? If you could find Guyana basin today - would you? We continue to explore these questions in private conversations with C-Level Executives testing different perceptions shared behind closed doors. We hope these insights are considered to help the industry to emerge from the crisis in a better state.
Интервью во время карантина: Современные и экономически выгодные компьютерные системы включающие в себя программы, хранилище данных и способы работы с ними, разработанные и оптимизированные в 21м веке, позволяют компаниям быстро перейти на полный удаленный метод работы с максимальным экономическим успехом.
For a short course based on a module on Play-based Exploration taught for a University of Leeds (UK) MSc programme, I wanted to include a section on cognitive bias, a topic Alexei Milkov has covered extensively (Milkov, 2015; Milkov, 2017). The second paper, examining one particular corporate exploration effort, provides an opportunity to analyze one aspect of Milkov’s work (the use of “Base Rate” statistics for prognosis) and ask one or two questions, both around the use of Base Rate, and Cognitive Bias.
An example of the difference between U3 Explore and LinkedIn approach to professional networking. I use LinkedIn regularly myself following the posts of the people whose opinion I value and from whom I learn. Today on LinkedIn, I came across a simple explanation of why building a Value Network that is assembled and promoted not by paid campaigns but by our personal experiences will save us from trouble. The bottom line is that paid advertisements do not guarantee the quality of advice or service. Reference-based relationships do.
Technical expertise and business acumen have differentiated sustainable performance among E&P competitors. 2020 First Quarter earnings results evidence the pressures that face the future direction of the global E&P industry. Capital discipline strategies have reshaped the forward outlook of companies and for industry professionals uncertainty will be foremost in their thoughts. What will emerge from this period?
Most professionals in oil & gas agree that the current industry crisis is going to be deeper than any of the previous ones and that it is going to last through 2020, without any significant improvements. Industry leaders have to make bold yet calculated moves in this new business landscape. In private conversations, different perceptions are shared behind closed doors, while the public industry gatherings offer mainly promotional information. It is unlikely that this industry is going to be able to emerge from this down-cycle without having honest conversations about its current state.
The success of oil and gas production from shale plays in the U.S in the last decade has also drawn attention to the most prolific source rock of the Neuquen Basin in Argentina, which is called Vaca Muerta Formation. Today, with approximately 110 MBls/d of oil and 1 Bcf of gas production from 1400 wells, it represents 5% and 23% of the total production of oil and gas of Argentina respectively.
A sponsored project aimed at creating an accurate and reliable digital knowledge repository with information on Venezuela's oil & gas resources, validated by highly qualified Subject Matter Experts (SME's) with local and regional knowledge.
It appears that statistical models today are substituting factual business analysis in decision making. People are trying to predict all possible outcomes of their models with little control and/or understanding of the parameters that are impacting the quality and reliability of the result. Over the last four years, oil and gas companies were focused on hiring data scientists, and Geoanalytics is often called to help. Yet, mathematical modeling of the physical processes is not a new concept.
This analysis uses the data collected over March 25th- April 5th. By the digital nature of our survey, the responses are biased towards technically enabled companies and individuals that were set up for occasional remote work. We analyze 1- the overall level of the system preparedness for such an extraordinary situation when the majority of the workforce is working from home, where the entire family is streaming homeworks, videos, and videoconferencing; 2- social aspects of the remote working; 3- feedback on the support provided for remote workers and ideas on post-crisis recovery
How do we prepare ourselves for the post-coronavirus world? Will the small businesses survive this? Will the dramatic cost-cutting exercises of corporations help them re-tool for the new future or will they just return to “business as usual”?
4Q 2019 Earnings - MRO, AR, NBL, PDS, DO, NOV, AM, NBLX, DCP, E&P Super Model 2.0, MRO Case Study, Valaris fleet status report and more
Understanding origin and distribution of natural fault- and fracture patterns in unconventional reservoirs is critical for successful exploration and production. In order to validate tectonic versus non-tectonic origin, influence of pre-existing deformation and fracture distribution, we use cumulative strain as a modeling proxy in a pilot study from the Niobrara FM., DJ Basin, CO.
We all agree that an accurate and viable geologic interpretation is critical for all exploration workflows. Nevertheless, validation through balancing and restoration techniques is undervalued with often significant consequences for project outcomes. Here is why we should balance and how.
4Q 2019 Earnings - COP, NOV, PTEN, HP, CLB, PAA, MR 2020 guidance, COG update and NE Fleet Status Report
4Q 2019 Earnings - CVX, XOM, HES, CNX, HCR, CLB, RES, MMP, CNXM, EPD, Company updates - CNXM, OMP, HES, CHK, OVV and OAS
PE Update, E&P STM, 4Q2019 Earnings - OIS, BKR, HAL, SLB, Initiating coverage of Williams Companies
This report contains an exploration review of Colorado Basin, located in southeastern Argentina, it has onshore and most extensive offshore sections with more than 125000 Km2 of total extension. The basin has more than 70 years of exploration history, with a few wells drilled, one of them recovered 39º API Oil from Early Cretaceous Syn-rift sandstone. Three main plays were identified, with high exploration potential: Rift Margin Play, Continental Slope Play, and Thrust belt play.
This presentation discusses the economic and technical aspects of developing conventional versus unconventional projects. Why oil firms should take on some conventional projects rather than only unconventional opportunities. In Senegal -SNE project we use as an example to explain capital efficiencies and resource assessment approach that allowed co-ventures to proceed to FID. Permian basin development approach to identify sweet spots and enabling technologies to reduce overall development cost. This material was originally presented for Actus Veritas Geoscience in a mini-conference 2017.
Welcome to the 2020's, 4Q19 OFS Earnings Preview, SLB Earnings, Floater day-rate momentum may stall, ENLK 2020 guidance, EPD update and more
This course describes how to model overburden, fracture and pore pressures, and related in-situ stress field. Mechanisms of geo-pressure generation will be discussed, and how they impact hydrocarbon generation, and more importantly, how to define a safe well planning to mitigate the occurrence of adverse drilling events.
After five years of inactivity, cost management, and budget reduction, companies are now looking for growth opportunities in exploration and production during the low oil price environment. These Opportunities are to be found in a highly volatile business environment. In this presentation, we will discuss our proposal on how to address opportunities, data, risks, uncertainties, and dependencies to be managed during the selection of the best decision. This material was originally presented for Actus Veritas Geoscience in annual mini-conference 2017
Located in southwestern Argentina, it covers around 15000 Km2, with more than 10.000 ft. thickness in the depocenters. The basin has more than 100 years of exploration history started with the exploitation of 10 barrels a day from 4 wells in “Arroyo de La Mina” oil seepage. This report summarizes the new exploration ideas, based on geochemical data and outcrops description that allows the existence of a hypothetical new petroleum system. This idea generates high exploration potential in undrilled deep sections of big structures.
In 2019 Oil and Gas corporations were still focused on optimization of the individual processes often without shared value across the organizations. The digital era continues to generate large volumes of data which consists of both- noise and valid information. I think the key question for 2020 is-"How one can separate the information from the noise and make valid decisions?" and therefore, the question of the proper balance between digital and human capabilities in the decision-making process is still open in 2020
Definitions and keywords for Competency, Skills, Artificial intelligence, Machine learning, and Employability Skills. Here are links to two references for applications and practical use of artificial intelligence (AI) and machine learning (ML). Examples (2), quite important for sport-liking people, are shown like the skills, the technologies, and results on MLB games, where the key to success is human passion. This work was presented at VAPA Venezuelan American Petroleum Association, November 2019.