What’s New in Exploration: Does “She” Make Money?

What’s New in Exploration: Does “She” Make Money?

Answer: Well, not if taxes take all of their advantages. New anti-inflation legislation in the United States appears to be a victim of epidemic stupidity among governments. It’s clear to me that the world is on the wrong track when it asks to restrict, tax, or stop exploration. Stopping the exploration of conventional energy (the energy common to our devices over the past 160 years) is the same as saying stopping growing food. In fact, one will lead directly to the other. It is not a good end for those who are forced to follow this path.

Figure 1. SEG and AAPG collaborated in August in a new joint annual meeting called Image ’22. https://www.imageevent.org/

However, are the regulators or their bosses really that naive? When I worked at the Department of Energy under a research contract, I initially thought that the leaders appointed by former President Obama were gullible hobbyists. Two years later, I can no longer believe they were naive. Why then do we create a deliberately subversive policy? One does not need much guesswork for the answer. However, we may have found a flower among the herbs. a world oil On the web, July 22, titled “Redrawing the global oil map as the industry embraces renewables,” he said, “Big oil companies that want to reduce their carbon emissions must shift their activities to energy pools where drilling rigs can be powered by Renewable energy sources and that have enough room to sequester carbon, a report notes.

I smile. Green government drilling in CO2-friendly oil basins2 Syringe – really? Mother. do not stop! Stop! Please don’t throw me in that spot! This might be the best news we’ve heard in a long time. It is also good to have plans to identify abandoned orphan gas wells that may also qualify as green insulation candidates. However, an excessive green focus can invite an army near your border. Germany right? After 20 years of go-green policies, how much does Saxony-Juniper’s electricity cost compared to 2002 levels? By the way – if sea level rise is going to be a problem, why would the collectives want Soloviev’s seaside property near the Black Sea? just ask’.

Daily notices this summer from WO and professional societies were announcing new exploration commitments near the fossil-energy-hungry countries around the planet. There is not enough room here to list them all. Surprising me are the plans and discoveries about the southern Horn of Africa. I can’t remember anyone describing geographically favorable conditions for oil formation and migration near South Africa, except for people in little booths along the back wall at SEG/SPE/AAPG agreements. New data always brings new light.

Big Blue expects exploration expansion for the next several years. Expenditure on exploration is increasing, and is said to be about 20% more than last year. Well, last year was terrible, and at almost $100 oil, what were we expecting? However, my running cost of $14 per barrel does not attract anyone to recomplete or further dig, due to the uncertainty of future regulations, not the price discrepancy. Well, everyone also wants big reserves. But a big risk requires a lot of money. This will not change. What has been changing for a while, however, is the increased focus on reservoir knowledge, as part of early drilling decisions.

Science: the more we know, the more we know we don’t know. Understanding the reservoir has always been at the forefront of risk analysis, in both science and business, for production development. Simple questions about the amount and duration of its production have evolved into the hydrodynamic properties of the parent rock, the interactions that occur with fluids, and whether we can measure any of these parameters indirectly from the surface or the well. Certainly, over the decades, semi-calibrated borehole tool analogs and acoustic inferences have given us larger evaluation methods. However, nothing – I repeat, nothing – even in the laboratory is 100%.

Current technical papers attempt to push us towards an 80% realistic answer. (Today, all technologies are around 60%, even with hydrocarbons influx. None, so far, have been able to recover about 8-13%, even with physical horizontal methods.) 29 in ‘Image ’22, the new SEG and AAPG annual meeting (graph 1) in Houston, examples of the intense reservoir discussion now underway in our industry:

“Using Multidimensional Measurement to Estimate the Effect of Shale Volume, Fault Seal, and Fluid Transmission Modes on 3D Petroleum Saturation,” Norwegian Viking Graben, Anatoly Aseev, Taban Mukherjee, and Allegra Husford Scherer, Stanford University (INT. AUD:4). Speaker: Anatoly Aseev.

“Oil and Gas Compete for Trap Space and Seal Capacity,” Martin Neumeyer, ArianeLogix; Jan de Geiger, JdJ Geological Consultancy; and Ben Kortenbach, ArianeLogiX (internal AUD: 4) Speaker: Jan de Jager.

STEM education has never been more important to our future, as the numbers of our experienced explorers continue to decline. Technical program summaries will be available from either organization.

About the authors

William (Bill) Chief

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William (Bill) President is Project Manager for RPSEA’s Ultra-Deepwater Program. As a senior technician, he has worked for more than 38 years in exploration, exploitation and production in the United States and globally. Mr. Head has been instrumental in several new international ventures, coordinating local and global operations, and managing one of the largest computer facilities in the industry.

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