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As technical people working in the Montney, most of our focus has been on drilling performance, completion improvements, and overall cost reduction in all aspects. But what other trends are occurring that need to be on our radar screens? Our opening panel will be bringing many perspectives, including the funding side, the importance of ESG, consulting trends and an overview of the North American market as a whole. Exploitation design is a product of interlinked decisions on well design, completion design, well spacing and cost structure. How are Montney operators pursuing the right balance of resource recovery and profitability?
Decisions in E&P ventures are affected by Bias, Blindness, and Illusions (BBI) which permeate our analyses, interpretations and decisions. This one-day course examines the influence of these cognitive pitfalls and presents techniques that can be used to mitigate their impact. Bias refers to errors in thinking whereby interpretations and judgments are drawn in an illogical fashion. Blindness is the condition where we fail to see an unexpected event in plain sight. Illusions refer to misleading beliefs based on a false impression of reality. All three can lead to poor decisions regarding which work to undertake, what issues to focus on, and whether to forge ahead or walk away from a project. Strategic thinking and planning are key elements in an organisation’s journey to maximise value to shareholders, customers, and employees. Through this workshop, attendees will go through the different processes involved in strategic planning including the elements of organisational SWOT, business scenario and options development, elaboration of strategic options and communication to stakeholders. Examples are provided including corporate, business unit and department case studies. This seminar will teach participants how to identify, evaluate, and quantify risk and uncertainty in everyday oil and gas economic situations. It reviews the development of pragmatic tools, methods, and understandings for professionals that are applicable to companies of all sizes. The seminar also briefly reviews statistics, the relationship between risk and return, and hedging and future markets.
SPE, through its Energy4me programme, will present a free one-day energy education workshop for science teachers (grades 8–12). A variety of free instructional materials will be available to take back to the classroom. Educators will receive comprehensive, objective information about the scientific concepts of energy and its importance while discovering the world of oil and natural gas exploration and production. Energy4me is an energy educational public outreach programme that highlights how energy works in our everyday lives and promote information about career opportunities in petroleum engineering and the upstream professions. SPE’s Energy4me programme values the role teachers and energy professionals play in educating young people about the importance of energy.
Learn more about training courses being offered. Learn more about training courses being offered. This course covers the fundamental principles concerning how hydraulic fracturing treatments can be used to stimulate oil and gas wells. It includes discussions on how to select wells for stimulation, what controls fracture propagation, fracture width, etc., how to develop data sets, and how to calculate fracture dimensions. The course also covers information concerning fracturing fluids, propping agents, and how to design and pump successful fracturing treatments. Learn more about training courses being offered. Current and future SPE Section and Student Chapter leaders are invited to engage and share.
The Petroleum Resources Management System (PRMS) is a system developed for consistent and reliable definition, classification, and estimation of hydrocarbon resources. The Oil and Gas Reserves Committee has completed the revision of the Petroleum Resources Management System (PRMS) and the SPE Board approved it in June 2018. The updated PRMS is a consensus of input collected from consulting and financial firms, government agencies, and E&P companies. The process included a 90-day public comment period, and required input and approval by six sponsoring societies: the World Petroleum Council, the American Association of Petroleum Geologists, the Society of Petroleum Evaluation Engineers, the Society of Exploration Geophysicists, the European Association of Geoscientists and Engineers, and the Society of Petrophysicists and Well Log Analysts. The 2018 PRMS update maintains the foundation principles contained in the PRMS 2007 and addresses many of the points in need of clarification that have been collected over the years.
The committee is responsible for programs dealing with oil and gas reserves and resources matters, including reserves and resources definitions, terms, recommended practices, and standards. The committee disseminates reserves and resources information to other organizations, agencies, and companies involved in reserves matters, including cooperation with other committees and organizations in development and delivery of relevant training courses. The Oil and Gas Reserve Committee (OGRC) typically includes twelve to sixteen SPE members (or more when deemed necessary for special projects or special skill sets) who are degreed engineers and geoscientists with 10-plus years of experience in reserves and resources estimation. In addition to the Society of Petroleum Engineers, other organizations may provide OGRC observers. These observers serve as liaisons between the OGRC and the respective organization on reserves and resources matters.
Thank you for attending the SPE Workshop. It has been a long-term goal for the industry to continue pushing the boundaries to enable a continuous expansion of production, increasing reserves, and capital efficiency. With the decline of the world’s conventional reserves, E&P companies are required to relook into other opportunities to boost production and sustain the business through technological advancements. The SPE Workshop: Asia Pacific Digital Week returned to discuss the digital movement that will eventually reshape how the oil and gas industry operate. Innovations through digitalisation will allow the industry to stimulate value creation at a significant rate to their businesses.
Thank you for attending the SPE Workshop. Disruption in oil and gas production is extremely costly and a time-consuming HSE affair. Assuring flow is a multidiscipline approach to identify flow stoppage risks and devise systematic workflows and protocols can guarantee an uninterrupted flow of hydrocarbons from the reservoir to surface facilities, through pipeline to terminals and, ultimately, to refineries. This workshop centred on an integrated approach to prevent flow disruption by encompassing the industry supply chain. The aim of the workshop was to discuss how a robust strategy and building block can influence the field development plan.