Is There a Need for a Reserves Confidence Metric?
Critical to the integrity of our industry is confidence in publicly disclosed reserves. The Reserves Confidence Metric is a simple tool to identify reserves estimates that should be assessed with caution or require further information.
Management: Chemical EOR—A Multidisciplinary Effort To Maximize Value
The implementation of chemical EOR has proven successful but the method faces significant technical and financial challenges.
Sustainability: A Business Imperative, Not a Moral Sacrifice
In recent years, sustainability has emerged as perhaps the most critical imperative of this century.
Technology Development in Upstream Division of Gazprom Neft
Russian giant Gazprom Neft has embarked on a new upstream technology strategy that emphasizes partnerships with other firms.
Succeeding in the Shale Business With a Lean Well Manufacturing Management System
The current oil and gas commodity prices have posed several challenges to oil and gas companies operating in shale plays trying to generate revenue or even becoming cash neutral.
Tapping the Value From Big Data Analytics
In a recent GE/Accenture report, surveys show that 81% of senior executives believe that big data analytics is one of the top three corporate priorities for the oil and gas industry through 2018. A striking finding was the sense of urgency felt about implementing data analytics solutions.
The Reason to Expect Prolonged USD 30–60/bbl Oil
A fairly stable set of conditions coalesce to make a strong reason to expect the oil price to range between USD 30/bbl to USD 60/bbl for the foreseeable future.
Mergers in a Low Oil-Price Environment: Proceed With Caution
Merger and acquisition activity has been limited since prices started to fall in 2014. But there are signs that M&A activity may be building, and oil company management teams should think about which deal strategies they should pursue.
Solving the Casing-Wear Puzzle Using Stiff-String Model
Precise casing-wear prediction is important for improving well integrity and longevity, while simultaneously making casing designs more cost-effective. There are no industry guidelines for casing-wear prediction. This article presents a validated predictive model.
Management: Energizing Worldwide Oil and Gas Deepwater Developments
A panel discussion at the 2016 OTC in Houston focused on the factors that influence deepwater developments, the scenario for the future, and the opportunities available within the industry. One key question asked was: What oil price is required to keep deepwater viable over the long term?
Transforming the Upstream Service Industry To Increase Operator Margins
The upstream industry is undergoing a transformation. Operators and service providers alike are not just tweaking or fine-tuning, they are completely rethinking the way they work.
Management: The Power of Cognitive Technology
It has been over a year since Repsol and IBM announced their plans to jointly develop cognitive technologies that would allow human decision makers operating in the oil and gas industry to interact with computers more effectively.
Management: Managing Project Uncertainty: The Delphi Method
Decision making in uncertain environments is key to the successful delivery of oil and gas projects. By definition, however, uncertainty is ambiguous and unpredictable.
Subsea Condition Monitoring: Does Effective Diagnosis Increase Availability?
The challenges encountered in deepwater development have led to the use of increasingly complex subsea systems. Consequently, operators have become more reliant on subsea monitoring equipment and instrumentation to provide field information for understanding production and equipment conditions.
Management: Using Composite Modeling as a Means to Maximize Profitability
Many companies too often focus solely on maximizing current production when they should really be focusing on maximizing profitability. A holistic, total asset modeling process is needed to reorient the focus of digital oilfield systems to focus on the net present value (NPV) of every project.
Management: Using Big Data Analysis Tools To Understand Bad Hole Sections on the UK Continental Shelf
The big data approach will allow new types of data-driven models to bypass traditional bottlenecks. It is also expected to lead to different views of standard models, thus providing new and valuable insights in the process.
Sustaining Economic Operations With Low-Price Oil
What does USD 60/bbl crude mean to the oil industry? We all know that oil prices are volatile and that we have seen oil in the USD 60/bbl price range before, but not since 2008.
Refracturing: Technology and Reservoir Understanding are Giving New Life to Depleted Unconventional Assets
The unconventional boom that has swept across North America over the past decade is a testament to how game-changing technology combined with expanded knowledge and understanding has transformed the paradigm of hydrocarbon production.
How Ready Is Your Project for Delivering Production?
In recent years, projects in upstream oil and gas have become more complex, remotely located, and, therefore, costly and difficult to deliver.
Management: Getting to Grips with Human Factors in Drilling Operations
Looking after the human factors in daily operations is good business because it increases employee safety and improves work performance.
Navigating in Deep Water: Greater Rewards Through Narrower Focus
The deepwater oil sector is at a crossroads. Deepwater production (defined as oil produced in water depths of greater than 450 m) has had a spectacular run over the past decade as major oil companies broadened their portfolios worldwide.
Industry Needs Re-Education in Uncertainty Assessment
It is clear the oil and gas industry recognizes the large uncertainty in which it operates. A search in the OnePetro technical paper database using the keywords “uncertainty” or “risk” returns more than 53,000 conference and journal papers.
Management: Industry Challenges Drive the Need for New Business Models
The increasing diversity of oil and gas resources presents technical challenges for customers and, at the same time, opportunities for oilfield services companies.
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07 August 2018
07 August 2018