Oil 101 - A Free Introduction to Oil and Gas
Introduction to Oil and Gas Exploration
This brief overview of exploration includes segments on exploration processes, some historical perspective including an explanation of hydrocarbons, and finally we’ll discuss the ‘basin-play concept’.
There are 4 key steps to summarize the oil and gas exploration process:
First is understanding and evaluating the geologic setting, called a play,
Next is obtaining access to the potential reserves usually in the form of a lease.
The third step is determining where to drill and completing a successful discovery or “wildcat” well.
Finally, additional hydrocarbon reserves can be added to the portfolio of an oil company using guidelines set by the Society of Petroleum Engineers (SPE) and the US Securities and Exchange Commission (SEC).
Oil and gas is composed of compressed hydrocarbons. It was formed millions of years ago in a process that began when plant and animal remains were covered by very deep layers of sediment – minute particles of rock and minerals. With time, extreme pressure and high temperatures, these particles became a mix of both solid (coal) and liquid hydrocarbons. Even diamonds are a form of hydrocarbons.
Early oil discoveries were traced from natural hydrocarbon seeps at the surface. Many major fields of California, Oklahoma, Mexico, Iran, Iraq and Indonesia were related to surface hydrocarbon seeps.
WHY IS A RESERVES DEFINITION NEEDED?;
Classification Framework; Proven Reserves; Unproven reserves; Resources; RESERVES UNCERTAINTY CATEGORIES; PROJECT MATURITY SUB-CLASSES; PETROLEUM RESOURCES CLASSIFICATION BASED ON PROJECT STAGESOIL AND GAS PROJECT EVALUATION STAGES; OIL AND GAS PROJECT EVALUATION; PROJECT EVALUATION ; PROBABILITY OF SUCCESS (POSG)
Introduction to oil and gas exploration and processingJohn Kingsley
This is a comprehensive presentation designed to give an overview and to introduce oil & gas operations.
Following are the contents of the presentation :
a) How Oil & Gas were formed ?
b) How are Oil and Gas deposits located ?
c) Economics of Exploration operations.
d) Definition of Oil Reserves.
e) Drilling & Production Process - How are they safely and efficiently extracted for onward processing without creating detrimental environmental impacts ?
f) History of “Off-shore Oil & Gas Exploration”.
g) Different types of “Off-shore Production facilities”.
h) Characteristics of Crude oil.
i) Oil & Gas Industry – Overall Block diagram.
j) Separation of Oil, Gas and Water.
k) Gas treatment and Export.
l) Oil treatment and Export.
m) Water treatment and disposal.
n) Pipeline transportation basics.
Know more about iFluids Engineering --> visit www.iFluids.com
Introduction-Alpha….. Betical PRINCIPLES of Petroleum Geology; Classification of fossil fuels as hydrocarbon resources and hydrocarbon producing resources; Oil/Gas Generation and Diagenesis; Types of Oil & Natural Gas Plays; Occurrence of Oil and Gas; umbrella terms given to petroleum: Conventional oil and Unconventional oil; Associated Gas and Non-associated Gas; In Situ Oil and Gas Resources versus Supply; Natural Gas Resource and Quality Types; Natural GAS; Oil and Gas Process; Oil/Gas Field Life Cycle; Oil Field Pyramid ; Giant Oil Field
It is a power point presentation on Gas Hydrates.
It consist of Energy Scenario, Basic Definition, methodology,
Methane Hydrate formation condition.
Future Scope
Oil 101: Introduction to Oil and Gas - UpstreamEKT Interactive
Oil 101: Introduction to Oil and Gas - Upstream
What is Upstream? This Midstream content is derived from our Oil 101 Upstream ebook and can be found in our oil and gas learning community.
This Upstream module includes the following sections (use the links below for quick access):
-Introduction to Upstream
-Upstream Business Characteristics
-Oilfield Services
-Reserves – Formation and Importance
-Production – The First Step in Adding Value
-The Unconventional Future of Upstream
Upstream
What is Upstream? Most oil and gas companies’ business structures are segmented and organized according to business segment, assets, or function.
The upstream segment of the business is also known as the exploration and production (E&P) sector because it encompasses activities related to searching for, recovering and producing crude oil and natural gas.
The upstream segment is all about wells: where to locate them; how deep and how far to drill them; and how to design, construct, operate and manage them to deliver the greatest possible return on investment with the lightest, safest and smallest operational footprint.
Exploration
The exploration sector involves obtaining a lease and permission to drill from the owners of onshore or offshore acreage thought to contain oil or gas, and conducting necessary geological and geophysical (G&G) surveys required to explore for (and hopefully find) economic accumulations of oil or gas.
Drilling
There is always uncertainty in the geological and geophysical survey results. The only way to be sure that a prospect is favorable is to drill an exploratory well. Drilling is physically creating the “borehole” in the ground that will eventually become an oil or gas well. This work is done by rig contractors and service companies in the Oilfield Services business sector.
Production
The production sector of the upstream segment maximizes recovery of petroleum from subsurface reservoirs.
WHY IS A RESERVES DEFINITION NEEDED?;
Classification Framework; Proven Reserves; Unproven reserves; Resources; RESERVES UNCERTAINTY CATEGORIES; PROJECT MATURITY SUB-CLASSES; PETROLEUM RESOURCES CLASSIFICATION BASED ON PROJECT STAGESOIL AND GAS PROJECT EVALUATION STAGES; OIL AND GAS PROJECT EVALUATION; PROJECT EVALUATION ; PROBABILITY OF SUCCESS (POSG)
Introduction to oil and gas exploration and processingJohn Kingsley
This is a comprehensive presentation designed to give an overview and to introduce oil & gas operations.
Following are the contents of the presentation :
a) How Oil & Gas were formed ?
b) How are Oil and Gas deposits located ?
c) Economics of Exploration operations.
d) Definition of Oil Reserves.
e) Drilling & Production Process - How are they safely and efficiently extracted for onward processing without creating detrimental environmental impacts ?
f) History of “Off-shore Oil & Gas Exploration”.
g) Different types of “Off-shore Production facilities”.
h) Characteristics of Crude oil.
i) Oil & Gas Industry – Overall Block diagram.
j) Separation of Oil, Gas and Water.
k) Gas treatment and Export.
l) Oil treatment and Export.
m) Water treatment and disposal.
n) Pipeline transportation basics.
Know more about iFluids Engineering --> visit www.iFluids.com
Introduction-Alpha….. Betical PRINCIPLES of Petroleum Geology; Classification of fossil fuels as hydrocarbon resources and hydrocarbon producing resources; Oil/Gas Generation and Diagenesis; Types of Oil & Natural Gas Plays; Occurrence of Oil and Gas; umbrella terms given to petroleum: Conventional oil and Unconventional oil; Associated Gas and Non-associated Gas; In Situ Oil and Gas Resources versus Supply; Natural Gas Resource and Quality Types; Natural GAS; Oil and Gas Process; Oil/Gas Field Life Cycle; Oil Field Pyramid ; Giant Oil Field
It is a power point presentation on Gas Hydrates.
It consist of Energy Scenario, Basic Definition, methodology,
Methane Hydrate formation condition.
Future Scope
Oil 101: Introduction to Oil and Gas - UpstreamEKT Interactive
Oil 101: Introduction to Oil and Gas - Upstream
What is Upstream? This Midstream content is derived from our Oil 101 Upstream ebook and can be found in our oil and gas learning community.
This Upstream module includes the following sections (use the links below for quick access):
-Introduction to Upstream
-Upstream Business Characteristics
-Oilfield Services
-Reserves – Formation and Importance
-Production – The First Step in Adding Value
-The Unconventional Future of Upstream
Upstream
What is Upstream? Most oil and gas companies’ business structures are segmented and organized according to business segment, assets, or function.
The upstream segment of the business is also known as the exploration and production (E&P) sector because it encompasses activities related to searching for, recovering and producing crude oil and natural gas.
The upstream segment is all about wells: where to locate them; how deep and how far to drill them; and how to design, construct, operate and manage them to deliver the greatest possible return on investment with the lightest, safest and smallest operational footprint.
Exploration
The exploration sector involves obtaining a lease and permission to drill from the owners of onshore or offshore acreage thought to contain oil or gas, and conducting necessary geological and geophysical (G&G) surveys required to explore for (and hopefully find) economic accumulations of oil or gas.
Drilling
There is always uncertainty in the geological and geophysical survey results. The only way to be sure that a prospect is favorable is to drill an exploratory well. Drilling is physically creating the “borehole” in the ground that will eventually become an oil or gas well. This work is done by rig contractors and service companies in the Oilfield Services business sector.
Production
The production sector of the upstream segment maximizes recovery of petroleum from subsurface reservoirs.
What’s shale gas ?
Finding the sweet spot?
How is shale gas formed?
How to produce the shale gas ?
Why We Fracture Shale Gas Wells…!
Shale Gas; Shale Gas Revolution; Main Shale Gas Reservoir Characterization; produce the shale gas; Shale Gas Play; Roadmap to Shale Gas; EVALUATION SHALE GAS; Shale Gas Production Cost Curve
What is tight reservoir?
To Understanding Tight Oil
Principle Types of Tight Reservoir; CHARACTERISTIC OF TIGHT RESERVOIR; FACTORS TO CONSIDER FOR TIGHT RESERVOIR; LOGGING IN TIGHT RESERVOIR;TECHNIQUES TO PRODUCE FROM TIGHT RESERVOIR; Light Tight Oil (LTO) Recovery; TIGHT OIL CHALLENGES; TIGHT OIL SOLUTIONS; WORLD ESTIMATE of TIGHT OIL
What is a Typical Unconventional Gas Reservoir?
Compare between Conventional vs. Unconventional Reservoir
What are Unconventional Resources…!
Why Do We Need Unconventional Reservoirs ?
Unconventional Gas Reservoir; Unconventional Resources; Worldwide Unconventional Gas Production; Types of Natural Gas Resource; The Resource Triangle
Oil 101: Introduction to Oil and Gas - DownstreamEKT Interactive
Oil 101: Introduction to Oil and Gas
What is Downstream?
This Downstream module includes the following sections:
-Downstream Business Characteristics
-Refining – Products and Participants
-Consumption – The Final Step in Adding Value
-Marketing and Retail
Downstream
Processing, transporting and selling refined products made from crude oil is the business of the downstream segment of the oil and gas industry.
Key downstream business sectors include:
-Oil Refining
-Supply and Trading
-Product Marketing and Retail
The downstream industry provides thousands of products to end-user customers around the globe.
Many products are familiar such as gasoline, diesel, jet fuel, heating oil and asphalt for roads. Others are not as familiar such as lubricants, synthetic rubber, plastics, fertilizers and pesticides.
The downstream segment is a margin business. Margin is defined as the difference between the price realized for the products produced from the crude oil and the cost of the crude delivered to the refinery.
Although the price of crude sets the absolute level of product prices, it may or may not affect refining or marketing margins. Downstream margins tend to be reduced, or squeezed, when crude price increases often cannot be recovered in the marketplace. On the other hand, margins tend to hold, or even increase, when crude prices drop and the marketplace more slowly adjusts to these lower crude prices.
The downstream segment includes complex and diverse activities including manufacturing, petrochemical refining, distribution, and retail.
A global perspective is important because of the global nature of the energy supply chain as well as the impact of supply and demand on both feedstock and product prices.
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Oil and Gas Production
Today we’re going to talk about the production function of Upstream. If you missed the previous podcasts on Upstream Fundamentals, Exploration and Drilling, be sure to go check those out. We’ll put the relevant links in the program notes.
The Production and Offshore Construction Module provides a high level overview of production operations. It introduces the offshore contractors and production service providers that assist E&P companies in efficiently producing oil and gas.
We’ll also cover well completions and key measures and drivers that influence production business operations.
We’ll also give some historical perspective on this part of upstream oil and gas operations.
Production
Once oil or gas is found with a wildcat or discovery well, the next step in adding value to reserves is to get the reservoir fluids brought to the surface, or “produce” them. After all, upstream is also called E&P!
What’s shale gas ?
Finding the sweet spot?
How is shale gas formed?
How to produce the shale gas ?
Why We Fracture Shale Gas Wells…!
Shale Gas; Shale Gas Revolution; Main Shale Gas Reservoir Characterization; produce the shale gas; Shale Gas Play; Roadmap to Shale Gas; EVALUATION SHALE GAS; Shale Gas Production Cost Curve
What is tight reservoir?
To Understanding Tight Oil
Principle Types of Tight Reservoir; CHARACTERISTIC OF TIGHT RESERVOIR; FACTORS TO CONSIDER FOR TIGHT RESERVOIR; LOGGING IN TIGHT RESERVOIR;TECHNIQUES TO PRODUCE FROM TIGHT RESERVOIR; Light Tight Oil (LTO) Recovery; TIGHT OIL CHALLENGES; TIGHT OIL SOLUTIONS; WORLD ESTIMATE of TIGHT OIL
What is a Typical Unconventional Gas Reservoir?
Compare between Conventional vs. Unconventional Reservoir
What are Unconventional Resources…!
Why Do We Need Unconventional Reservoirs ?
Unconventional Gas Reservoir; Unconventional Resources; Worldwide Unconventional Gas Production; Types of Natural Gas Resource; The Resource Triangle
Oil 101: Introduction to Oil and Gas - DownstreamEKT Interactive
Oil 101: Introduction to Oil and Gas
What is Downstream?
This Downstream module includes the following sections:
-Downstream Business Characteristics
-Refining – Products and Participants
-Consumption – The Final Step in Adding Value
-Marketing and Retail
Downstream
Processing, transporting and selling refined products made from crude oil is the business of the downstream segment of the oil and gas industry.
Key downstream business sectors include:
-Oil Refining
-Supply and Trading
-Product Marketing and Retail
The downstream industry provides thousands of products to end-user customers around the globe.
Many products are familiar such as gasoline, diesel, jet fuel, heating oil and asphalt for roads. Others are not as familiar such as lubricants, synthetic rubber, plastics, fertilizers and pesticides.
The downstream segment is a margin business. Margin is defined as the difference between the price realized for the products produced from the crude oil and the cost of the crude delivered to the refinery.
Although the price of crude sets the absolute level of product prices, it may or may not affect refining or marketing margins. Downstream margins tend to be reduced, or squeezed, when crude price increases often cannot be recovered in the marketplace. On the other hand, margins tend to hold, or even increase, when crude prices drop and the marketplace more slowly adjusts to these lower crude prices.
The downstream segment includes complex and diverse activities including manufacturing, petrochemical refining, distribution, and retail.
A global perspective is important because of the global nature of the energy supply chain as well as the impact of supply and demand on both feedstock and product prices.
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Oil and Gas Production
Today we’re going to talk about the production function of Upstream. If you missed the previous podcasts on Upstream Fundamentals, Exploration and Drilling, be sure to go check those out. We’ll put the relevant links in the program notes.
The Production and Offshore Construction Module provides a high level overview of production operations. It introduces the offshore contractors and production service providers that assist E&P companies in efficiently producing oil and gas.
We’ll also cover well completions and key measures and drivers that influence production business operations.
We’ll also give some historical perspective on this part of upstream oil and gas operations.
Production
Once oil or gas is found with a wildcat or discovery well, the next step in adding value to reserves is to get the reservoir fluids brought to the surface, or “produce” them. After all, upstream is also called E&P!
Oil 101 - A Free Introduction to Oil and Gas
What is Midstream Oil and Gas?
As its name implies, the midstream oil and gas segment encompasses facilities and processes that sit between the upstream and downstream segments. Activities can include processing, storage and transportation of crude oil and natural gas.
In most cases, oil and gas reserves are not located in the same geographic location as refining assets and major consumption regions.
Transportation is a big part of midstream activities and can include using pipelines, trucking fleets, tanker ships, and rail cars.
Oil 101 - A Free Introduction to Oil and Gas
What is Downstream Oil and Gas?
Processing, transporting and selling refined products made from crude oil is the business of the downstream segment of the oil and gas industry.
Key downstream business sectors include:
Oil Refining
Supply and Trading
Product Marketing and Retail
The downstream industry provides thousands of products to end-user customers around the globe.
Many products are familiar such as gasoline, diesel, jet fuel, heating oil and asphalt for roads. Others are not as familiar such as lubricants, synthetic rubber, plastics, fertilizers and pesticides.
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Refining
This refining overview includes segments on: Why we refine crude oil, a basic summary of the refining distillation process, and some historical perspective on the evolution of refining.
The complete Refining Module includes lessons on crude oil and products, refinery processes, key business drivers that impact refining profitability, and more.
Why Do We Refine Crude Oil?
Crude oil cannot be used as it occurs in nature, other than burning for fuel, which is wasteful, It must be refined to manufacture finished products such as gasoline and heating oil.
In the refinery, crude oil components can first be split by carefully applying heat to capture various parts, called fractions, within certain boiling ranges. This is called distillation. The quality of these initial fractions produced is not sufficient to be sold directly as petroleum products without further treatment.
Moreover, the yield of products from straight distillation of crude oil is not the same as the “demand barrel” needed for the marketplace. Crude oil must therefore be further processed using both heat and pressure to improve qualities and meet market demand.
A large part of refinery processing is concerned with converting unwanted heavy fuel oil into marketable gasoline and diesel, using various processing methods.
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Supply, Trading, Transportation
This Supply, Trading, and Transportation (S&T) overview includes discussions on What is S&T, what are some of the major risks associated with trading, and some historical perspective on the evolution of S&T.
The complete S&T Module includes lessons on crude oil and products supply fundamentals, derivative contracts and exchanges, as well as key business drivers in physical trading and financial hedging. Natural gas trading is beyond our scope though it has a similar commercial function, closely tied to the utility and power consumer market.
What is Supply and Trading?
To help answer that question, let’s look briefly at how Chevron defines S&T on their website.
“Chevron Supply and Trading (S&T) provides a critical link between the market and Chevron's upstream, downstream and chemicals companies. S&T provides commercial support to Chevron's crude oil and natural gas production operations as well as to the company's refining and marketing network.”
Oil 101 - Introduction to Petroleum Product MarketingEKT Interactive
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Marketing - Retail and Wholesale
This petroleum product marketing overview includes discussions on What is Marketing, the structure and key functions of oil company marketing departments, and some historical perspective on how demand for transportation fuels, including service stations came, to dominate US landscape.
The complete Petroleum Product Marketing Module includes lessons on marketing fundamentals, retail vs wholesale marketing, and key business drivers and processes in petroleum product marketing.
What is Petroleum Product Marketing?
As we stated earlier, Marketing is the final step in the ‘Microbes to Markets’ chain that delivers useful petroleum products to end-user customers. The main business drivers of this segment are volume, market share and margin.
Worldwide, transportation fuels including gasoline, diesel, jet fuel and marine fuel oil account the largest percentage of global demand, and it is the fastest growing portion of refinery products.
In the United States, passenger cars still consume more petroleum products than any other sector. Today, the US accounts for about 44% of the world’s gasoline consumption, and transportation fuels are 65% of the US demand.
Since the US has one of the most competitive retail markets in the world, it has been a leading indicator in development of new service station formats. Many of these retail formats are adopted around the world – with some customization to accommodate local legislation and consumer preferences.
Oil 101 - A Free Introduction to Oil and Gas
Introduction to Drilling
Today we’re going to talk about the Drilling function of Upstream. If you missed our previous podcasts on Upstream Fundamentals and Exploration, be sure to go check them out. We’ll put the relevant links in the program notes.
In this drilling overview we touch on the wildcat well and current drilling capabilities, offer more insight into the role of oilfield services, and give some historical perspective on this segment of upstream oil and gas.
Drilling Details
As we discussed in the Exploration podcast, the first step in adding value is to locating the oil and gas reservoirs that are often far below the surface, and in deeper offshore prospects.
Even with the latest seismic technology and computer modeling, many characteristics of a prospect remain unknown until an exploratory or “wildcat” well is drilled. Repeating from that podcast, “you can’t find oil if you don’t drill wells.”
Oil 101: Introduction to Oil and Gas - MidstreamEKT Interactive
Oil 101: Introduction to Oil and Gas - Midstream
What is Midstream? This Midstream content is derived from our Oil 101 Midstream ebook and can be found in our oil and gas learning community.
This Midstream module includes the following sections (use the links below for quick access):
Midstream Business Characteristics
Midstream Participants
Processing – The Next Step in Adding Value
Transportation
Storage
Midstream - As its name implies, the midstream segment encompasses facilities and processes that sit between the upstream and downstream segments. Activities can include processing, storage and transportation of crude oil and natural gas.
In most cases, oil and gas reserves are not located in the same geographic location as refining assets and major consumption regions.
Transportation is a big part of midstream activities and can include using pipelines, trucking fleets, tanker ships, and rail cars.
The midstream segment is separated from upstream and downstream in most oil companies because it is considered a low risk, regulated type of business. It does not fit the risk profile or asset complexity of the other segments of the oil and gas industry.
Success in the midstream segment depends on many external forces including:
-Upstream operations continuous delivery of reserves
-Refinery margins that encourage refined product production
-Health of the downstream, natural gas, and petrochemical industry markets.
-Natural gas price levels that impact the attractiveness of NGL’s as feedstock
-Political sentiment for pipeline expansion and “not in my backyard” hurdles
While the midstream gathering and processing sector is relatively free of commercial regulation, the movement of gas by interstate pipelines and subsequent state level distribution activities are highly regulated in the US by the Federal Energy Regulatory Commission (FERC).
Understanding the Geology of Oil and Shale Gas Deposits.pdfbobby Lee
In recent years, oil and shale gas deposits have been the source of much debate, and for good reason. There are environmental concerns and the potential economic impact of extracting these resources to consider.
Directional drilling has become a very important tool in
the development of oil and gas deposits. Current
expenditures for hydrocarbon production have dictated
the necessity of controlled directional drilling to a much
larger extent than previously.
Petroleum Principles: definitions, chemistry, how oil & gas formed throughout history, formation, accumulation, traps, reservoir types, petroleum industry, Total E & P in two words
Oil and Gas are natural resources of enormous economic importance. Together they provide about 60% of all the energy used by society today. They provide fuel for transport and are vital for heating, lighting and cooking. In addition they are used in the manufacture of synthetic fabrics, plastics, fertilizers, detergent as well as for many other purposes. In short, it is hard to imagine how our society could function without oil and gas.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
7. EKTINTERACTIVE.COM
Recognizing Reserves
Step 4:
Add additional hydrocarbon reserves to
the oil company portfolio using
guidelines set by the Society of
Petroleum Engineers (SPE) and the US
Securities and Exchange Commission
(SEC).
8. EKTINTERACTIVE.COM
What are Fossil Fuels?
Oil and gas are composed of hydrocarbons, a
mixture of hydrogen and carbon atoms, formed
millions of years ago.
10. EKTINTERACTIVE.COM
Developments in the science of seismology added
necessary tools and analytics to improve success in oil
and gas exploration.
Introduction of Seismology
11. EKTINTERACTIVE.COM
The introduction of refraction technology to find salt
domes with oil and gas potential in the US Gulf Coast
began in the 1920’s.
Refraction
12. EKTINTERACTIVE.COM
Seismic advances during World War II continued the innovation
that aided the search for oil.
Advances in computing power since the 1980’s allowed for
development of 3-D seismic surveys.
3-D technology increased the use of seismic datafor
oil and gas production as well as exploration.
Seismic Goes 3-D
13. EKTINTERACTIVE.COM
Join now for access to free eBooks,
members only forums, and a growing
body of digital learning content.
Free eBooks include:
History of Oil
Upstream Fundamentals
Midstream Fundamentals
Downstream Fundamentals
Business Processes/Risk Management
Industry Trends
Learn More!
16. EKTINTERACTIVE.COM
What is a Basin?
A basin is a very large geographic area containing
sediments formed in a similar geological age like the
Permian Basin in West Texas.
17. EKTINTERACTIVE.COM
What is a Play?
A play is a location, or group of locations, with oil
and/or gas potential within a basin.
19. EKTINTERACTIVE.COM
Before the Play Concept
Prior to the play concept, exploration risk analysis concentrated
on a single prospect often without technically considering its
relationship to other similar prospects.
20. EKTINTERACTIVE.COM
Play Concept - Reducing Risk
Today, the play concept gives explorationists the ability
to leverage successes and reduce risk across numerous
wells, reservoirs, and fields as they explore for new
hydrocarbons and enhance existing oil and gas
accumulations.
22. EKTINTERACTIVE.COM
Reservoir Delineation
Data from both positive and negative wildcat wells
helps delineate the discovered reservoir and every
additional well and downhole measurement improves
the understanding of the field.
Hi, and welcome to Oil 101, the podcast.
My name is Doug Stetzer and I’m content and community manager for EKT Interactive.
As we continue our Oil 101 - ‘Microbes to Market’ coverage, we will be discussing the Exploration function of upstream.
This content is taken from our Upstream e-learning modules which were developed by industry experts with decades of experience.
More content on this topic is available in the free member’s content library at www.ektinteractive.com. And we’ll be sure to put relevant links to our Upstream, Midstream, and Downstream overviews in the program notes.
This brief overview of exploration includes segments on
exploration processes
some historical perspective including an explanation of hydrocarbons, and finally
we’ll discuss the ‘basin-play concept’.
There are 4 key steps to summarize the oil and gas exploration process:
First is understanding and evaluating the geologic setting, called a play,
Next is obtaining access to the potential reserves usually in the form of a lease,
The third step is determining where to drill and completing a successful discovery or “wildcat well.”
Additional hydrocarbon reserves can finally be added to the portfolio of an oil company using guidelines set by the Society of Petroleum Engineers (SPE) and the US Securities and Exchange Commission (SEC).
So what exactly are fossil fuels and how did they form?
Oil and gas are composed of hydrocarbons, a mixture of hydrogen and carbon atoms, formed millions of years ago.
Early hydrocarbon discoveries were usually traced from natural seeps at the earth’s surface.
When searching beyond obvious seeps, developments in the science of seismology added necessary tools and analytics to improve success in oil and gas exploration.
The introduction of refraction technology to find salt domes with oil and gas potential in the US Gulf Coast began in the 1920’s.
Seismic advances during World War II continued the innovation that aided the search for oil.
Advances in computing power since the 1980’s allowed for development of 3-D seismic surveys leading to more accurate and realistic imaging of the sub surface.
3-D technology increased the use of seismic data for oil and gas production as well as exploration.
This podcast episode is brought to you by EKT Interactive’s Oil 101 - a free Introduction to oil and gas.
Within this free, members-only content area you’ll find eBooks on oil and gas industry fundamentals, relevant articles on key oil and gas topics, and a growing body of digital learning content.
Claim your free membership and join the Oil 101 learning community at www.ektinteractive.com today.
As you know, the primary purpose of exploration is to discover new accumulations of hydrocarbons, called reserves.
An important development in exploration progress was more conceptual than technological.
The basin-play concept was developed in Canada in the early 1970s and is still used today.
A basin is a very large geographic area containing sediments formed in a similar geological age. An example would be the Permian Basin in West Texas.
A play is a location, or group of locations, with oil and/or gas potential within a basin.
Within a play, the indication of potential for faults or traps become drilling targets, called a drilling prospect.
Prior to the play concept, exploration risk analysis concentrated on a single prospect often without technically considering its relationship to other similar prospects.
Today, the play concept gives explorationists the ability to leverage successes and reduce risk across numerous wells, reservoirs, and fields as they explore for new hydrocarbons and enhance existing oil and gas accumulations.
Exploration is very iterative.
Every lease investment in a play and well drilled to define the size of the reservoir improves exploration success.
Data from both positive and negative wildcat wells helps delineate the discovered reservoir and every additional well and downhole measurement improves the understanding of the field.
Thanks for listening, and we hope you’ve learned a few things about the Exploration function of upstream in the oil and gas industry.
Be sure to share this as you see fit, and review us on itunes if you have a chance. Your feedback really helps us improve as we move forward.
If you want more information about our Oil 101 “Microbes to Markets” course content go to www.ektinteractive.com and register to access our free content library.
Thanks, and we’ll see you next time.