First Friday Q&A on Oil & Gas This Week – OGTW156

Welcome back to another episode! This week’s episode is our First Friday Q&A for October. You ask the questions and we answer them. Big thanks to everyone who wrote in. If you want to get a question answered for next month’s FFQA, click the link below. Enjoy!

Have a question? Click here to ask.

 

Show Notes & Links:

Hey Jake,

Are you still looking for crowdfunding for Wellhub?

If so what is the website again?

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First off great podcast very informative. I’m hooked. Keep it coming.

I’ve been in O&G 20yrs In Maintenance with texaco, chevron and valero in the UK but now in Qatar. Question I’m in the GTL business our primary business is high quality Diesel with a few other side streams.

Where do you guys see the diesel market in next 5-10+yrs with anti-diesel sentiment in the U.K. and the EU? I’m not sure US future plans.

When I was in Refinery operations we never heard that diesel was a poor product to produce. Yet in qatar the word is the requirement is in decline and more so the last 12 months?

Any thoughts? Scaremongering or reality?

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Love the show! My question is about data. My company generates a lot of it and, as an engineer, I’m always trying to think of ways to sift through that data to pull out meaningful trends that will help us run our business more efficiently. Trouble is, the data is often being gathered and stored by discrete databases used by different work groups instead of one central database. Do you have any advice on how to good data mining software that can pull from different databases simultaneously?

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I’ve been investing for the last 2 years now and the desire of owning a oil/gas service business usually occurs to me on a regular basis, along with mining. The business would hopefully allow me to leverage my time and use the proceeds towards my investments. Would you be able to give me insight into what I could do with a a small-medium investment? Thank you!

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I have pretty extensive experience using data to bring insights to life within the oil and gas realm. One thing I think most outsiders miss (referring to Silicon Valley) is that our animal isn’t standard. What I mean is, manufacturing, app development, retail, etc. can all be measured easily. The industries have standard definitions and less changing pieces. Using data to gain insight in oil is much harder than most other industries because of that. Due to innovative competition, we lack a lot of standardization across our data.

Part 1) Do you ever see data definitions becoming more standard? PPDM is trying, but not really succeeding. Or do you think the nature of oil and gas will always limit the collaboration and standard definitions required for big data to be as beneficial as it could be?

Part 2) There seems to be a huge disconnect in most companies between the IT departments and the needs of the operations teams. Do you see the same disconnect? And if so, what are some recommendations on how to bridge that gap?

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First, let me say thank you for doing an amazing job with this podcast. I’m new to the world of podcast, and this show is the first one I have listened to. I am hooked.

My question is this, with all the talk about the big oil plays ; The Permian, Bakken, STACK, Eagleford, what do you feel is the future for the small “stripper” fields? My family homesteaded in the Texas Panhandle during the oil boom of 1928, and we have been a producer ever since, but it seems that all the big players are moving out and seeking to find the next big thing.

This is not only a concern to me from a producer standpoint, but from a service company as well. As we expanded into Acidizing in the late 80’s. Thanks in advance.

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I have been hearing quite a bit of news about block chain recently, and how it may affect the landman profession (there was even a recent article about this in the Landman Magazine). How do you believe block chain will affect landmen going forward, and what are some good resources to stay ahead of the coming changes?

So first off – Let me tackle this head on and clear up anything –

Landmen seem to get really defensive anytime Blockchain is mentioned being applied here.

Let’s talk about what Blockchain won’t necessarily do:

It won’t

I think Blockchain is perfect for replacing county records with an immutable ledger – Then smart contracts can be generated around this. It won’t completely “distrupt” the space necessarily but it will make the entire process way more efficient.

But the challenges become the immutable nature of blockchain and standardization across country

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I’m trying to understand the relationship between liquid LPG and vapor LPG in closed containers under different temperatures and pressures and is it negligible compared to the volume of the tank and the gas inside it? Is it possible to find tabulation that showing the different levels of liquid LPG and vapor LPG at different temperatures and pressures in closed tanks?

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Love the podcast, guys. I’m currently applying for law schools, looking to do something in oil and gas law. Do you know of any publications or literature that focus on this legal field? I’m from Boston, so I’m not really around the industry, so I often have trouble finding resources. Thanks!

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Weekly Rig Count

As of 10/22/2018 – The American Rig count is 1149 active rigs.

 

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Monthly Happy Hour

We will be hosting a happy hour on October 30th. We will be having a spotlight on Creating Visuals for Your Business, brought to you by visCo. This month it will be held at The Cannon from 6-9 PM. RSVP here.

This month’s happy hour is brought to you by Globalquimica, ReactWell, HEB and Karbach Brewery.

Globalquimica –Our mission is to seek and develop applications for our environmentally friendly and safe oilfield chemical technologies that provide economic benefit through their use.

ReactWell provides advanced technology services and products for organizations in the energy, chemical, O&G, and petrochemical industry doing business inside and out of the United States of America. We achieve material quality results for our clients by blending creative solutions, constrained by the laws of hard science and scarce resources.

Karbach– OGGN’s official drink sponsor. Bringing you Texas-brewed beer!

H-E-B– OGGN’s official food sponsor.

Want to sponsor a Happy Hour? Email our project coordinator, Julie McLelland, by e-mail for more information.

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Calgary Data Management Symposium, Tradeshow & AGM 
What: Two-day event featuring plenary presentations, a keynote speaker, interactive discussions, breakout sessions and networking opportunities. This annual event is attended by a variety of organizations and attendees from Analysts to CEOs. The agenda is now available! Travel thanks to IBM!
When: October 22-24, 2018
Where: Calgary, Alberta

EVONIK Oil & Gas Symposium
What: This Symposium will feature industry experts and networking opportunities to discuss the latest innovations, trends, and challenges facing the oil and gas industry. Experts from leading corporations will include: Halliburton, Polyflow, Baker Hughes GE, Spears & Associates, Texas A&M University, Hoerbiger Corporation, Kosta Tech, Western Falcon, Fritz Industries, Inc., Linde Engineering, United Pipeline Systems, Inc., Innospec, Flotek, AirBorne, BYK USA, Inc., And more! Register here.
When: October 30-31, 2018
Where: Houston, TX

Well Site Automation 2018
What: The key focus for this year’s conference will be to “achieve efficient, cost-effective, and safer operations”, and the objective will be to bring shale operators and service companies together with leading industry experts to collaborate and examine new opportunities in well site automation, and to address the key challenges in well site operations across North America.
When: October 30-31, 2018
Where: Houston, TX

Time Machine – November 6-7 | Austin, TX: 
What: Time Machine is your passport to the future. SparkCognition’s annual summit brings together world-leading creative minds in technology, government, industry, and academia to debate the most pressing issue of our time: artificial intelligence. Register here.
When: November 6-7, 2018
Where: Austin, TX

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Jake Corley   | Facebook | LinkedIn | Email | www.wellhub.co
Mark LaCour | Facebook | Twitter | LinkedIn | Email | modalpoint.com