Every oil and gas operation faces periods of economic uncertainty at some point, and cost-cutting strategies become top priorities to allow business to continue. Often, decisions regarding trimming expenses are difficult, particularly in the...
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Risk Analysis: Economic Evaluations of Oil and Gas Investment
The growth potential for oil and gas investments is substantial, provided that companies perform proper risk analysis first. The industry is still the primary source for the world’s power even as exploration into alternative sources continues....
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Working with an Upstream Oil & Gas Consulting Firm
The dynamic oil and gas industry is continually shifting, and keeping pace with regulations, competition, and industry growth throughout the chain is no easy feat.
Startups and established companies alike may find themselves at a crossroads and...
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Digital Technologies Offer Great Value to the Global Oil and Gas Industry
Only a couple of years ago, while the world reeled from the economic effects of the global recession, the oil and gas industry benefited from high consumer demand and rising crude valuation. OPEC crude oil prices went up as high as US$109.45 per...
Seismic Interpretation: The Importance of Data to the Oil Industry
Demand for commodities such as gasoline, diesel, and petrochemical products increases each year, and it is imperative for oil companies to supply that demand at a profit. Although drilling oil wells cost millions of dollars (depending on the size...
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Reservoir Characterization: A Crucial Step in the Upstream Industry
The world won’t see a shortage of petroleum in the next few decades, says the Massachusetts Institute of Technology (MIT) Technology Review. The challenge, however, lies in making up for the dwindling easy-to-extract oil supplies.
From 2010 to...
Mud Logging: A Key to Successful Wells
A report from the US Energy Information Administration predicts that global energy consumption will grow by 28% in the next few decades. Fortunately, with the right tools, data, and technology, well producers and owners can learn more about the...
Oil and Gas Investing: Avoid Being Taken for a Ride
It’s both exciting and nerve-wracking to stand in a pasture in South Texas watching roughnecks rig up the head on a nodding-donkey so we can start producing from our first well in a new field (well, new for Sierra Pine but an established field...
Secondary Recovery Method: Waterflooding
It is not enough to recover every last hydrocarbon from a geological reservoir. The recovery method has to make economic sense for the business. Secondary recovery methods are used once the primary production pressure has declined to a level...
Exploring the Potential of Natural Gas Condensates
Certain temperature and pressure conditions in reservoirs and gas fields allow natural gas to condense to a liquid form. The condensation doesn’t happen just in reservoirs; with the correct temperature and pressure, the phenomenon can also be...