PRO ALLY’s Post

It's fascinating to see how Torxen and Schlumberger Production Management (SPM) joined forces in a JV. By leveraging SPM’s reservoir knowledge, oilfield services technology, and project management expertise, they've successfully lowered development costs and maximized the value of the asset. This is particularly significant in a market where the traditional business model was struggling to deliver the required financial returns. One of the things this JV did was buy the Palliser block from Cenovus Energy, which consisted of oil and gas wells, surface facilities, a pipeline network, and about 800,000 acres of development rights. At the time, production was 54,000 boe/d, 77% of which was natural gas. I bring this up because it emphasizes the importance of reservoir knowledge, oilfield services technology, and project management. Many times, larger companies sell off non-core assets to pay down their debt, and smaller companies utilize their smaller size, high BOE per employee ratio, and ability to operate the asset at lower costs to make the asset profitable where it was marginal for the bigger company. I worked for Vastar Resources, which worked the lower 48 for ARCO for these reasons. We utilized AVO technology developed in ARCO to be profitable. I always bragged about our 75% success rate because of it. Companies like Noble hired Vastar people to improve their results. It's this kind of innovative thinking that can truly transform a company's performance. We need to consider how a single change, such as the introduction of horizontal drilling in tight reservoirs, can lead to industry-wide transformation. With my strong background in AVO, inversion, and rock properties, I am maneuvering Tesseral AI to look at how to use modeled data to do reservoir analysis and understand seismic interpretation. We believe modeled data can help interpreters and reservoir engineers understand their assets and the issues with seismicity. Understanding the reservoir can lead to lowering the costs of development.

#Global #Oilfield #Equipment #Market Size, Status, Growth | Industry Analysis Report 2029 𝐆𝐞𝐭 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬..!!https://lnkd.in/d_gAiKCy Market Dynamics: Oilfield equipment comprises a #diverse array of machinery essential for oilfield development, from drilling to well completion. The market dynamics underscore the #increasing demand for customized drilling equipment to navigate the complexities of well #requirements and boost production efficiency. Regional Insights: While North America currently #dominates the market, experiencing increased exploration activities, regions like Asia Pacific are poised for significant #growth. Steady expansion is anticipated in countries like China and Brazil, driven by rising energy #consumption and major discoveries. Challenges and Opportunities: Challenges such as high capital #investment and the complexity of drilling underscore the need for innovative solutions in the Oilfield Equipment Market. #However, technological advancements and strategic alliances present opportunities for market #players to overcome these obstacles and drive industry growth. Segment Analysis: The market is segmented #based on equipment, type, and application, with drilling equipment and pressure & flow control emerging as key segments. In-depth #analysis reveals the dominance of the equipment segment, accounting for a significant market share globally. Key Players: GE Oil & Gas Weatherford SLB Superior Essex Pioneer Energy Services #OilfieldEquipment #OilExploration #EnergyIndustry #MarketForecast #GlobalMarket #IndustryInsights #Innovation #Technology #Drilling

🌐 Enhancing Drilling Efficiency with Weibull Distribution Analysis at Benel Energy Resources   🌐Hello LinkedIn community! Today, I'm excited to introduce a groundbreaking initiative from our data science team at Benelenergy Resources.   🚀 Introducing Weibull Distribution Analysis We're at the forefront of utilizing advanced statistical methods in drilling operations. Our latest endeavor involves leveraging Weibull distribution analysis, a powerful tool in reliability engineering and risk assessment, to optimize drilling performance and mitigate operational challenges.   📊 Weibull Distribution in Action Weibull distribution analysis provides valuable insights into the failure rates and lifetimes of drilling equipment and components. By modeling failure probabilities and distribution functions, we can anticipate potential failures, optimize maintenance schedules, and enhance equipment reliability, ultimately leading to improved drilling efficiency.   🔍 Why This Matters In the dynamic and demanding environment of drilling operations, equipment reliability and performance are paramount. By harnessing the predictive power of Weibull distribution analysis, we empower our team to proactively address equipment failures, minimize downtime, and maximize operational uptime, ensuring safer and more efficient drilling practices.   🌍 Towards a More Reliable Drilling Future At Benelenergy Resources, our commitment extends beyond conventional drilling practices. We strive to pioneer innovative approaches that prioritize reliability, safety, and sustainability in energy extraction. Weibull distribution analysis represents a significant step forward in this journey, heralding a future where data-driven insights drive excellence in drilling operations.   💡 Your Perspectives I'm keen to hear your thoughts – how do you perceive the role of Weibull distribution analysis in shaping the future of drilling and energy extraction? What potential challenges and opportunities do you envision in its application?   🔗 Join Us on This Transformative Path Follow our journey at Benelenergy Resources as we continue to harness the power of data science to revolutionize drilling practices. Let's collaborate, share insights, and collectively drive towards a more reliable and sustainable energy future!   #DataAnalytics #WeibullDistribution #DrillingOptimization #EnergyExtraction #BenelenergyResources

DURING my career in Shell, the Company devoted considerable energy and resources to develop OPPORTUNITIES. It's a complicated process. We carried out extensive geophysical surveys, followed by exploratory wells to confirm the presence of oil. That's not enough. We then drilled appraisal wells to determine the size and viability of the reservoir. All these must be carried out before field development, production and abandonment. Drilling is expensive, and you cannot afford to spend $18 million (then, could be up to $100 million now) drilling a well only to find a dry hole! Yet lots of businesses are doing the exact opposite of what Shell did! Drilling dry holes, exerting resources on opportunities (markets) that don't exist. YOU can never force a hen to urinate. It your business is not focused on a Level 10 opportunity, your operational efforts would be frustrated. JOIN THE FINANCIAL FITNESS CHALLENGE TODAY. #ogboawokeogbo #financialfitnesschallenge

Deal Approved! The deal between Chord Energy and Enerplus officially closed on the 31st of May. Chord President & CEO, Danny Brown "We are excited to complete the combination with Enerplus, creating a premier Williston Basin operator with enhanced scale, significant low-cost inventory, financial strength, and peer-leading shareholder returns,". Given that Chord closed its Denver office not too long ago, the question is - how soon will they wrap up that Denver Enerplus office? Follow me by clicking the "FOLLOW" button on my LinkedIn Profile to keep updated with industry news and new job openings. "SHARE" this post to help expand my reach and my ability to help bring value to your network. Hiring Managers and Executives - We can help identify candidates in Engineering, Geoscience, Land, EHS, Accounting/Finance, and other positions. Please reach out and we can set up a time to talk. https://lnkd.in/dP8mtS3F?

“You must have been one of those annoying children that always asked….WHY?” I recall being told by a Drilling Supervisor I worked for when I was a young bp Drilling Engineer. I didn’t know if it was a compliment or a criticism at the time, but I grew to believe it was very much a positive as we developed a great relationship during our work together (at least I thought as much!). I’ll forever be grateful for my first class education I got at bp in the wells team and in particular for the opportunity to be a curious individual, having the freedom to ask “WHY?” things were being done in certain ways. Whilst our industry no doubt has faced its headwinds over recent years politically, commercially and reputationally, I feel the opportunity to grow positively into the future is as a strong as ever, so long as we continue to be curious and question “WHY?”. I’m incredibly proud to see the technologies that my team and I helped develop over the years spring globally onto the worldwide stage now as an Expro team we deploy Cure Technology operations concurrently from the Americas in the West throughout Europe and West Africa to the Asia Pacific market in the East. Cure Technologies has been a nice example of many engineers asking “WHY?” do we need to expose certain risks when running and cementing casings, or drill out shoetracks, or wait on cement that long, and arriving at a technology solution that has asked them to break the status quo and help advance our industry to put new technologies into the mainstream tool box of standard working practices. Let’s keep asking “WHY?” and help make tomorrow’s industry better than yesterday’s... #UltimateCementPlacement #WellConstructionTechnology #SeaCure #QuikCure

🌟 Exciting Collaboration Announcement! 🌟 I am thrilled to share the news about a recent productive and insightful meeting with the esteemed Yogashri Pradhan, M.S., P.E. , an analytical and problem-solving petroleum engineer with a wealth of experience in production, completions, and reservoir engineering. Her expertise spans across oil and gas operations, consulting, and academia, particularly focusing on the development and improvement of production from unconventional reservoirs in the Permian Basin of West Texas. During our engaging Zoom session, We delved deep into the intricacies of reservoir engineering. Her profound knowledge in both unconventional and conventional reservoir analysis, workover operations, hydraulic-fracturing jobs, production operations, and regulatory compliance was truly inspiring. It became evident that her organizational capabilities and passion for mentoring and professional volunteerism make her a remarkable leader in the field. In light of our discussion, we identified a growing need for specialized training in unconventional reservoir engineering. To address this, we have decided to organize a comprehensive 2-day short online training session scheduled for September. This training will focus on: 🔹 Advanced techniques in unconventional reservoir analysis. 🔹 Best practices in hydraulic-fracturing and workover operations. 🔹 Integrating data analytics into oil and gas projects to drive efficiency and innovation. This training is designed for professionals looking to enhance their technical skills and stay ahead in the rapidly evolving oil and gas industry. With Yogashri Pradhan, M.S., P.E. depth of knowledge and our commitment to delivering high-quality training, we are confident that this program will be incredibly valuable. As the Founder and CEO of Petroleum Engineers Association, I am committed to providing exceptional learning opportunities that empower industry professionals. Stay tuned for more details on the upcoming training session. We look forward to your participation and to fostering a community of continuous learning and excellence. Let's innovate and excel together! #ReservoirEngineering #OilAndGas #UnconventionalReservoirs #Training #ProfessionalDevelopment #DataAnalytics #HydraulicFracturing #OilAndGasIndustry #ContinuousLearning

The Vital Role of Reservoir Management 🛢️🔍 _“Did you know that efficient reservoir management can increase oil recovery rates by up to 20%? 🛢️ That’s why it’s one of the most critical components in petroleum engineering. Reservoir engineers are tasked with not only maximizing production but also ensuring long-term sustainability of resources. 🔬 Advanced simulation models are helping us predict future production scenarios with incredible accuracy. 📊 Data-driven decisions are becoming the norm, allowing us to optimize production and minimize costs. 🌱 And let’s not forget about the role of environmental responsibility. Proper management ensures we’re extracting responsibly while minimizing ecological impact. How are you leveraging reservoir management to improve your results? Let’s share insights on the best practices that are driving success in this field.”_ #ReservoirManagement #OilOptimization #DataInPetroleum #SustainableExtraction #PetroleumEngineering

In collaboration with RGE Solutions, here's my first cut on analyzing 20 Canadian E&Ps for their FY24 production and capital spend. When cross-referenced to CAPP's historical national-level data (FY20), these 20 Canadian E&Ps account for ~60% of production & Capex. Forecasting out through this year, my national-level outlook estimates include: (1) FY24 Capex of ~$43B CAD, a 7% increase from FY23 (~$40B). This includes ~$13B for oil sands/SAGD related spend, and infrastructure/land/seismic spend of ~$6.5B (2) FY24 Production of ~8.8mboepd, a 2% increase from FY23 (~8.7mboepd) (3) Well completions of 6,012 a 7.5% increase from FY23 (5,594)