DeGolyer and MacNaughton’s Post

Many engineers and professionals in the oil and gas industry often find it challenging to distinguish between production forecasting, reserve and resource assessment and reporting, and hydrocarbon maturation. #Production_Forecasting: Typically conducted by reservoir engineers, this involves using various engineering tools, such as decline curve analysis or reservoir simulation, to predict future production under different development scenarios and assumptions. #Reserve_and_Resource_Reporting: This is managed by exploration, engineering, or specialized teams. They categorize hydrocarbons based on their technical and economic maturity, incorporating uncertainty analysis into their estimates according to established guidelines such as SEC or PRMS. #Hydrocarbon_Maturation: Managed by integrated teams, this structured process involves identifying, screening, and defining new opportunities to ensure they are well-developed and matured.

Economic Impact of Oil and Gas Exploration: Case Studies in Job Creation

Join us at the Reservoir & Production Management Conference 2024! Eirik Dirdal, RESMAN’s Vice President, Norwegian Continental Shelf and Digital, will present on "Waterflooding Management through Tracer Data Visualization" at the upcoming Reservoir & Production Management Conference held from 26-27 November in Stavanger, Norway. This two-day conference hosted by The Norwegian Petroleum Society is a key arena for collaboration and knowledge sharing across the oil and gas industry. Attendees will gain valuable insights on recent developments on the Norwegian Continental Shelf. Sharing best practices across critical disciplines is essential to maximize the value of remaining resources. When: 14:30 pm, Tuesday, 26 November Where: Clarion Hotel Air, Sky Tower (10th Floor), Sola – Stavanger Our presentation will showcase how clients can engage with RESMAN's Client Portal RESTRACK to increase recovery factors of their assets. We will highlight the key benefits of tracer technology analysis, including how it helps operators: -Steer injection water to the most efficient injectors -Improve oil recovery by isolating injection zones -Identify optimal locations for infill drilling Platforms like RESTRACK are designed to handle increased data volumes without compromising performance, making reservoir monitoring more accessible and secure than ever before. In the energy industry increasingly defined by cutting-edge innovation, transparent, intuitive, and data-driven digital platforms are essential for smarter decision-making, enhanced operational efficiency, and a more sustainable energy future. We look forward to connecting with industry professionals and exploring how digital solutions can drive better outcomes for our sector. See you there! For more details about the conference, please visit: https://lnkd.in/dyJHhajz To learn more about RESMAN Energy Technology, please visit: www.resmanenergy.com #ReservoirManagement, #ProductionManagement, #EnergyTransition, #EnergyInnovation, #DigitalTransformation

Celebrating scholarly impact in the oil and gas industry 🌐 At Molyneux Advisors, we take pride in the contributions our team makes to the oil and gas sector. A standout example is the work by our consultant, Nick Bahrami, whose paper "Well test, rate transient analysis and reservoir simulation for characterising multi-fractured unconventional oil and gas reservoirs" offers critical insights for the industry. Published in the Journal of Petroleum Exploration and Production Technology, this open-access article has become a cornerstone for professionals dealing with unconventional reservoirs, assisting in everything from reservoir characterisation to reserve estimation. Its clarity and practical approach have garnered over 11,000 accesses and 21 citations, underscoring its relevance and impact. Nick’s dedication to advancing our understanding of complex industry challenges exemplifies the expertise and value Molyneux Advisors brings to our clients and partners. 🔗 Read the publication: https://lnkd.in/gqWgm539 #PetroleumTechnology #EngineeringExcellence #MolyneuxAdvisors #UnconventionalOilAndGas #ScholarlyImpact

Back to basics, the old fashioned way, and ROI approaching 40, with 30 drill ready prospects ready this year.

A drill-ready portfolio offers several advantages. It signifies that the prospects have passed extensive geological and feasibility assessments, reducing the risk and time to market. This readiness can demonstrate a lower risk profile and a clearer path to potential returns. We are making a compelling case to investors, knowing these prospects are drill-ready and within proven Gulf Coast US petroleum systems. Proven petroleum systems are crucial for reducing exploration risk and guiding investment decisions. They provide a historical record of successful hydrocarbon generation and accumulation, indicating a higher likelihood of finding oil or gas in similar conditions. This knowledge is essential for planning and optimizing exploration and production strategies. Onshore prospects offer several benefits, such as improved project economics and easier access to infrastructure. The introduction of new tax credits has made these projects more attractive. Onshore prospects within proven petroleum systems leverage existing infrastructure, potentially reducing operational costs and time to market.

new projects for the next year

Algeria Offers Six New Onshore Blocks for Global Investors: Algeria's National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) has announced six new onshore licensing opportunities for conventional hydrocarbon exploration, open for competitive bidding. These opportunities offer a blend of exploration, development, and export potential, forming part of a strategic five-year licensing plan aimed at attracting global upstream investors and leveraging Algeria's rich hydrocarbon resources, with over 20 opportunities on the horizon. Key Dates and Process: Licensing Round Launch: October 14 Tender Documents & Data Access Start: November 26, 2024 Bid Submission Deadline: April 15, 2025 Data Access Period Ends: April 1, 2025 Spanning a total perimeter of 152,000 km², these six opportunities are supported by extensive seismic data, including over 102,000 line km of 2D seismic data and 45,000 km² of 3D seismic data. Bidders will have access to Perimeter Conditioned Data Packages and Evergreened Data Packages during the data access period. #OilAndGas #Energy #UpstreamOpportunities #Algeria #Exploration #EnergySector #ALNAFT #BusinessGrowth #InvestmentOpportunities #samaconsultation #onshore #bidrounds #investors

Here is a TOP priority in quality e-wireline services option. What if Saudi Aramco's or Any Global Oil & Gas Exploration Organization's technical Authorities' ask, name or share an EXISTING TOOL enabling us to flow a sand producing natural gas reservoirs safely as desired (flow choke size), without any surface sand management resources? How can it be scientifically or technically possible? .................. Where there is a will, there is a WAY. ... Comment, let it be discussed. Universe is wide open to share miraculous solutions, if we research.

PETROLEUM RESOURCES MANAGEMENT SYSTEM: PUBLIC COMMENTS PERIOD OPEN The SPE Oil and Gas Reserves Committee has opened a period for public comments and feedback on the current 2018 PRMS. The Society of Petroleum Engineers International (SPE) chartered the Oil and Gas Reserves Committee (OGRC) to maintain and update the Petroleum Resources Management System (PRMS). The PRMS is a system developed for consistent and reliable classification and categorization of hydrocarbon resources according to technical uncertainty and project maturity and commerciality. The development of the current 2018 PRMS received the support from the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), the Society of Petroleum Evaluation Engineers (SPEE), the The Society of Exploration Geophysicists (SEG), the EAGE (European Association of Geoscientists and Engineers) , Society of Petrophysicists and Well Log Analysts (SPWLA) . The current 2018 PRMS version can be obtained at  https://lnkd.in/djDXDg8B, along with other related documents. The OGRC is committed to continue to provide a relevant resources framework to the industry as technology and business drivers change. As part of this process, the OGRC has opened a period for public comments and feedback on the current 2018 PRMS. Please email to Ogr@spe.org your recommendations on what should be added or edited in the existing version. The comments and feedback must be submitted by 30 June 2024 for consideration by the committee. #SPE #PRMS #petroleum #resources #management #system #oilandgas #energy