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4th Annual Utica & Marcellus Infrastructure Development Summit

Tuesday, April 22, 2014 until Thursday, April 24, 2014  |   Posted by Infocast Inc.

6th China Unconventional Oil&Gas Summit and Exhibition 2014This event has a discount code!

Wednesday, April 23, 2014 until Friday, April 25, 2014  |   Posted by gicc china

LatAm Supply Chain & Logistics Strategy Summit

Monday, April 28, 2014 until Tuesday, April 29, 2014  |   Posted by Fleming Gulf

M2M for Oil and Gas

Monday, April 28, 2014 until Tuesday, April 29, 2014  |   Posted by SMi Group

5th Eastern Africa Oil, Gas/LNG & Energy Conference 2014This event has a discount code!

Monday, April 28, 2014 until Wednesday, April 30, 2014  |   Posted by Glopac Pacific & Partners

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H2S Alive

Wednesday, April 16, 2014 until Wednesday, April 16, 2014  |   Posted by Allstar Enviro Safety

Exploration and Production Accounting - Level 3

Sunday, April 20, 2014 until Thursday, April 24, 2014  |   Posted by MDT International

Geostatistics for Geophysicists

Monday, April 21, 2014 until Friday, April 25, 2014  |   Posted by Geovariances

The Mini MBA in Oil and Gas in Erbil

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Gas & LNG Contracts

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Opinion & Commentary

Insight: How can companies develop and retain Petro-technical professionals?

Wednesday, April 16, 2014

What should oil & gas companies do to develop, train, motivate and thereby retain Petro-technical Professionals? How can they turn 'raw material', recent recruits whether graduates or folk with a few years experience in an oil field service company, into exploration, reservoir and operations leaders? Once I had got past being a humble geophysical researcher at BP, I had various jobs, firstly Chief Geophysicist in Aberdeen, Houston and then London (1986 -1995), and then later Head of Exploration (from 2000, until I retired in 2003) in which I had to help figure out and/or figure out for myself how you motivate, re... Read more

Canadian oil & gas companies endure a tough 2013

Tuesday, April 15, 2014

2013 was a difficult year for Canada’s biggest oil and gas companies, according to a new analysis of the annual results over the last 5 years for 99 TSX-listed oil and gas companies by CanOils (note 1). Capital expenditures reached record highs for recent periods, but so did the average well costs and the amount of capital spending financed by long term debt. Many companies followed up a net loss in 2012 with further - and often increasing - losses in 2013. Continuing Losses The 99 companies’ (hereafter: “the group”) total combined net income continued last year’s downslide by dropping 5.7% ... Read more

Oil limits and climate change - how they fit together

Tuesday, April 15, 2014

We hear a lot about climate change, especially now that the Intergovernmental Panel on Climate Change (IPCC) has recently published another report. At the same time, oil is reaching limits, and this has an effect as well. How do the two issues fit together? In simplest terms, what the situation means to me is that the “low scenario,” which the IPCC calls “RCP2.6,” is closest to what we can expect in terms of man-made carbon emissions. Thus, the most reasonable scenario, based on their modeling, would seem to be the purple bar that continues to rise for the next twenty years or so and then is close ... Read more

Did crude oil production actually peak in 2005?

Monday, April 14, 2014

"Wait a minute," you must be saying. "Haven't we been hearing from the oil industry and from government and international agencies that worldwide oil production has been increasing in the last several years?" The answer, of course, is yes. But, the deeper question is whether this assertion is actually correct. Here is a key fact that casts doubt on the official reporting: When the industry and the government talk about the price of oil sold on world markets and traded on futures exchanges, they mean one thing. But, when they talk about the total production of oil, they actually mean something quite... Read more

Insight: Current demographics, and the current issue, in the oil & gas industry

Monday, April 14, 2014

What impact has almost 30 years of RIF-ing had on our industry? What can we say about the current demographics? What is the current big issue? By far the most authoritative insight into oil & gas industry demographics is that produced by Schlumberger Business Consulting’s annual review of HR benchmark data gathered from 40 E&P companies (at least that was the 2012 number). SBC sometimes present this data at conferences, the most recent presentation being accessible here. Their data covers Petro-technical Professionals (PTPs): geoscientists (geologists, geophysicists, petrophysicists) and petroleum engineers (reser... Read more

Insight: A brief history of RIF-ing

Friday, April 11, 2014

Once again, there is a lot of excited chatter about cost cutting in our industry. Oftentimes in the past, this has meant cutting great swathes of people (also known in better times as ‘our most valuable resource’) out of the team. Now I see it’s happening again – RIFs are in progress at, for example, BG and Weatherford to highlight just two. Here’s something to think about: perhaps the only person you can trust to manage your career to your expectations is yourself, unless companies change their behaviour significantly! So what is a RIF? Please note I am not talking about a riff which I und... Read more

From financial subprime to global energy subprime

Friday, April 11, 2014

Russian Sanctions and the Energy Subprime The U.S. subprime crisis of 2008, although it was cast in stone by 2006-2007, was a dreadful surprise for political deciders. It sprang at them from the murky world of Wall Street's frenzied brewing of incomprehensible financial instruments with names like algos, swaps and derivatives. The crisis surged at them from outside, forcing deciders to make a panic recourse to more government debt and massive new borrowing, to shore up the financial economy and then the real economy. We live with the enduring results, today. The 'mature postindustrial democracies', symbolized... Read more

Is drilling in the Gulf safer? Regulators beg for an answer

Wednesday, April 9, 2014

Federal regulators have a new approach for improving safety in the Gulf of Mexico: beg the industry to cooperate. Maybe even say “pretty please.” The Bureau of Safety and Environmental Enforcement unveiled a plan this week in which it will set up a series of meetings with offshore operators and pitch them on the idea of providing the regulator with data on “near-miss” incidents. BSEE wants to use the information to build a database that could show patterns for potential safety problems. In other words, it wants to track telltale signs of another Macondo disaster so companies can avert the next cat... Read more

Iraq: Second largest oil reserves, one of the largest security problems

Monday, April 7, 2014

With the highly dangerous situation in Eastern Ukraine dominating the headlines, even relegating the retirement of Sir Bruce Forsyth from Strictly Come Something or Other to the inside pages – it would be easy to overlook the political chaos and security collapse in the country with the world's second largest proven oil reserves. Iraq. On 30 April 2014, the country goes to the polls to select a new Prime Minister (PM) and government. The consensus is that the current incumbent, Nuri Kamal al-Maliki, a Shi’a who leads the State of Law Party, will seek a third term in power, a prospect that has filled Kurd... Read more

Ukrainian death spiral

Monday, April 7, 2014

Russia has raised natural gas prices to Ukraine twice this week. The total rise is 80% bringing the price for gas in Ukraine to $485 per 1000 cubic meters [1]* which is well above the European average of $380 in 2013 [2]. Prior to the recent geopolitical crisis Ukraine was in a mess. With a population of 45 million, per capita GDP of $2100 is on a par with Egypt (Figure 1) and the country had crippling and mounting debts. Since the dissolution of the Soviet Union in 1991, Ukraine has been in reverse gear. Energy rich Russia has seen relative prosperity on the back of a recovery in its energy industries and rising energ... Read more

Oil exports: The rhetoric and the reality

Monday, April 7, 2014

If not natural gas, then oil. That seems to be the latest reaction to breaking Russia’s energy grip on Europe. Harold Hamm, the chief executive of Continental Resources, reciting a new meme in the energy industry, told members of Congress this week to forget all the breathless banter about natural gas exports to counter Russian aggression in the Ukraine. If we really want to help wean Europe off its dependency on Russian energy, we should immediately begin exporting oil. The first export terminal for liquefied natural gas won’t begin shipments until next year. It will simply take too long for LNG exports to he... Read more

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The absurdity of US natural gas exports

by Gail Tverberg

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