Welcome back to another episode! This week’s episode is our First Friday Q&A for March. 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:
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Questions:
Good morning. Love the show and am beyond grateful for the information and insights you provide as I’m new to the industry. I’ll leave a rave review on the podcast but first wanted to ask if you have any plans to come out to the Bay Area this year for a happy hour. Please let me know if so, and how I could help coordinate.
I know someone in charge of P&A of a very small asset group in the Asia Pacific. He has over 900 wells that need P&A but it always gets pushed back to due industry climate.
Worldwide, the amount of wells that need P&A would be astronomical & I assume they have the same problem regarding being pushed back.
My question is eventually could this part of the industry be due for a huge boom for jobs?
And a secondary question is that shale wells have majority of their production in their first 2 years. So how many years on average until a. shale well is not economical and needs abandoning? The amount of wells in the permian alone that would need abandoning at some point is huge.
I recently had an opportunity to attend a flaring workshop hosted by Shell going into issues facing the industry. Shell claims they reduced 80% of flaring and are pushing other industry leaders to pursue that route. Where do you see flaring going into the future?
You mention various attempts that activists use to indirectly halt the oil industry – from blocking pipelines to regulating water use to probably many other things. Is there an identifiable playbook that activists are running with that people outside the industry don’t understand?
How much have these types of rules actually cut down on potential production/investment to date? It seems to me that CA will keep being CA and anti-oil & gas while Texas will keep being Texas and pro-development.. Where do you see the political risks coming from? Is it more that there is a risk that some harsh regulations could be applied at the federal level?
Given my petroleum engineering degree/background, what advice would you give to me in my search to find a solid engineering position for an E&P? Or even a service company?
Also, what kind of role do you believe will be the most useful down the line?
How I could get involved with the OGGN street team?
I was wondering if you guys would be interested in wanting to do a podcast with CEO of a PE-backed E&P. Would love to get them some additional media coverage and give you guys an interesting discussion around the Powder River Basin. Please share your thoughts and look forward to your reply.
Love all the shows guys, Startups, Onshore, Industry Leaders, Legal Risk and the HSE. Although somebody needs to rework the intros on the HSE show now that Russell is the new host 😉
I’ve worked for a large oilfield service company for 18 years and am now ready to start my own thing. Both of you seem to be experienced starting a new business from scratch, what are the 2 or 3 things you would tell me to watch out for or to make sure I do?
You two are awesome! A perfect blend of genuine energy experience, forward thinking, humor and ability to admit when you make mistakes. We just love “Oil and Gas This Week”!
Here is my question. Do you really expect the ‘gig economy’ to come to the oil and gas industry? If so when and where?
Weekly Rig Count
As of 3/31/2019 – The American Rig count is 1047 active rigs.
Monthly Happy Hour
Oil & Gas Global Network is hosting a happy hour on April 30th, from 6-9 PM.
Come out and enjoy a cold beer, food will be provided, and network with other professionals in oil & gas! This month’s happy hour will be held at The Cannon.
This month’s happy hour is brought to you by Cresa, HEB and Karbach Brewery.
Cresa’s Oil & Gas Practice Group provides occupier-only corporate real estate consulting to companies associated with the oil and gas industry, providing superior service and unique insight throughout the world’s exploration areas. With a collective team experience of over 150 years and more than 10 million square feet of completed assignments, Cresa’s agile team can help guide companies ranging from start-ups to super majors in all of their real estate needs, advising clients from site selection and acquisition through workplace strategy, construction and logistics analysis. Learn more at www.cresa.com.
Karbach– OGGN’s official drink sponsor. Bringing you Texas-brewed beer! Find out about their beer here.
H-E-B– OGGN’s official food sponsor. Find out more here.
Want to sponsor a Happy Hour? Email our project coordinator, Julie McLelland, by e-mail for more information.
IBM Giveaway
Sign-up for your chance to win a T-shirt with a unique serial number. This means each shirt is different making it an awesome collector’s item! Plus it comes inside an official OGGN insulated tumbler.
At the end of the year we will have a drawing to win our grand prize! This will be a pool of all of the serial numbers on the t-shirts! The grand prize will be announced a bit later in the year!
OGGN Announcements
We are excited to announce we are launching a brand new podcast, Permian Perspective sponsored by BHGE. Join us for a launch party and kick-off to the Permian Basin Happy Hours! The launch party will be on April 23rd, 6 PM at Midland Beer Gardens. RSVP here!
Upcoming Events
2019 SPE-GCS Annual Golf Tournament
When: April 8th, 2019
Where: Houston, TX
Dress: Casual
The annual SPE-GCS Golf Tournament is in its 46th year, and is one of the SPE Gulf Coast Section’s most important fundraisers. Come out to the beautiful courses of Kingwood and Deerwood Country Clubs and enjoy a great day of golf in support of scholarships for young engineers embarking on the adventure of an oilfield career – not to mention the wonderful food provided out on the course by our fabulous oilfield cook teams!
Houston Professional Petroleum Data Expo
When: April 9-10th, 2019
Where: Houston, TX
Dress: Business to business casual
Join us for two days of learning, engaging and connecting with others in our industry. Attend presentations, interactive activities, discussions and more on our five stages and learn from our Sponsors and Exhibitors about the latest in Petroleum Data.
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Mark LaCour | Facebook | Twitter | LinkedIn | Email | modalpoint.com