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Chair's Corner - February 2021

February 1st, 2021

Chair's Corner - February 2021

How to Volunteer with SPE?

It is the second month of the year, and while we are all hoping for positive changes in our personal lives, around the industry and around the world, we will need to continue to be patient and resilient for a little longer. On the positive side, some COVID-19 vaccines have been approved and are being administered to front-line workers and a prioritized list of individuals. This gives us hope that one day soon, the pandemic will end or at least be under control, but we should all continue to be safe. I also know that many companies in our industry had to make difficult personnel decisions last year to survive, and therefore some of our affected members are actively looking for new opportunities. For those members in transition, I want to remind you that the section has a Members …


Then & Now - February 2021

February 1st, 2021

Then & Now - February 2021

FEBRUARY 2008

The oil and gas industry generally has accepted a policy of sustainable energy that makes use of all available energy resources. However, John Westwood, managing director of UK consultancy Douglas-Westwood Ltd, said the oil and gas industry already is competing with the wind industry for materials and personnel for offshore operations, primarily overseas. Some $16 billion is expected to be spent on installation of 4.5 GW of new wind-power capacity in Europe over the next five years, up from 1.1 GW today. The UK will be the biggest market, with 2.4 GW of new capacity forecast in 2012. “Serious amounts of steel are heading offshore,” said Westwood. “Offshore wind and oil and gas are competing for the same resources and with onshore wind power.”

Efforts to bring some humanity into Russia’s treatment of former OAO Yukos officials may …


Chair's Corner - January 2021

January 1st, 2021

Chair's Corner - January 2021

DIVERSITY AND INCLUSION

It is the beginning of a new year and I want to wish all our SPE-GCS members and affiliates a Happy New Year 2021! I hope everyone had safe and joyful holidays. Like many people, I hope this year brings the end of the pandemic, full recovery for the energy industry and the return to normal life. This month also symbolizes the halfway mark of the Gulf Coast Section’s fiscal term. I will share a progress update on a few of the initiatives planned for the fiscal year, including the Diversity and Inclusion (D&I) initiative and the Mobile App proposal.

The SPE International Diversity and Inclusion Committee launched during ATCE in 2020 with the vision of advancing the society’s commitment to diversity and inclusion within the oil and gas community through advocacy, collaboration and education. SPEI transitioned the …


Then & Now - January 2021

January 1st, 2021

Then & Now - January 2021

JANUARY 2000

You’ve got to love this South La. well and formation name: “Union Pacific Resources Group Inc. (UPR), Fort Worth, and partner Cabot Oil & Gas Corp., Houston, have made a gas discovery on the Etouffee prospect with their Continental Land & Fur Co. Inc. 1 well, about 15 miles southeast of Morgan City in Terrebonne Parish, La.”

The good news from Russia for the oil and gas industry is that the Communist Party no longer controls legislation in the Duma, or lower house of parliament. The rest remains a muddle. It's worth cheering that 60% of the Russian electorate voted in December's parliamentary election, but that welcome exercise of democracy is yesterday's news. It also makes the meaning of the outcome no less puzzling. Oil companies, though, should be wary. They increasingly get called to account when governments …


Chair's Corner - December 2020

December 1st, 2020

Chair's Corner - December 2020

¡Adios 2020! and Scholarship

Endowment Fund Update

When we rang in the new year and the beginning of a decade back in January, no one anticipated that 2020 would turn out to be the year it has been. It is typical around the world for people to hope for a new year full of blessings, good health, prosperity and happiness. There is no question that 2020 has been a challenging year because of the pandemic and industry downturn. I could write this entire article about the year’s challenges, but as we enter the holiday season, I will focus on the positive side of 2020 and provide an update on our SPE-GCS Scholarship Endowment Fund (SEF) efforts.

Here are some of the unexpected benefits that 2020 brought: Since around March, some companies in our industry have allowed employees to work full time and remotely …


Then & Now - December 2020

December 1st, 2020

Then & Now - December 2020

DECEMBER 2000

Woodside Petroleum Ltd.'s independent directors late last month rejected as "inadequate" a sweetened offer by an Australian unit of the Royal Dutch/Shell Group to gain a 56 percent controlling interest in that company, up from the 34.3 percent it now holds. The bid for Woodside, which operates Australia's massive Northwest Shelf LNG export venture, marks Shell's continuing expansion into the Asia-Pacific natural gas market. The going was easier for Shell in New Zealand, where the New Zealand Commerce Commission approved the sale of gas-focused Fletcher Challenge Energy Ltd. to units of Shell and Apache Corp.

Rhetoric at the Sixth Conference of the Parties to the UN Convention on Climate Change betrayed troubling political motives. French Pres. Jacques Chirac urged representatives from the US to "cast aside their doubts and hesitations" about the need for drastic response to climate change, asserting, …


Chair's Corner - November 2020

November 1st, 2020

Chair's Corner - November 2020

SPE MEMBERSHIP AND BENEFITS

It's hard to believe we are one month away from the end of 2020. I suspect a lot of people in the United States and around the world would like this year to be over soon. There is hope that next year will bring a fresh start, the end of the pandemic and the beginning or continuation of a global economic recovery for many industries, including energy. This month, I will talk about SPE membership, its benefits and the GCS enhanced on-demand content library.

If you are an SPE member, you should have received your share of SPE membership renewal reminders for 2021. I encourage all SPE members to renew their membership and continue to enjoy membership benefits. If you are not an SPE member, I encourage you to join at spe.org/join.

I have been an …


Then & Now - November 2020

November 1st, 2020

Then & Now - November 2020

NOVEMBER 1997

Phillips China Inc. has reportedly found oil in China's Bohai Bay. After drilling a dry hole on its first try, its second well flowed on test at a rate of 1,602 b/d. Phillips China, a unit of Phillips Petroleum Co., is operator of the block and holds a 60 percent interest, while China National Offshore Oil Corp. has the right to acquire as much as 51 percent of any proposed development.

BP Exploration Inc. and partners have started up the Troika oil and gas field in the deepwater Gulf of Mexico. Troika, 150 miles south of New Orleans in the Green Canyon area, is produced from subsea facilities in 2,700 feet of water. The field was discovered by Marathon Oil Co. in 1994. BP Exploration Inc. is operator of the project. BP, Marathon and Shell Deepwater Development Inc. …


Chair's Corner - October 2020

October 1st, 2020

Chair's Corner - October 2020

SPE Volunteerism During Unprecedented Times

I was asked a few months ago why SPE-GCS charges a registration fee for its webinars. Shouldn’t webinars or virtual events be free if there’s no in-person networking or lunch provided? If someone is attending from the comfort of their couch at home, should they pay? These are all relevant questions. I will share a few thoughts on event finances, the scholarship program and volunteering with SPE.

SPE is a 501(c)(3) non-profit organization. SPE-GCS relies on the proceeds from events organized by volunteers to operate, carry out the mission of SPE and support the scholarship program. During great times, the section benefits from strong sponsorship support from companies. Sponsorships help balance our event revenue and expenses, lower registration fees and allow our events to be more profitable. Because of the COVID-19 pandemic, and during industry downturns, we receive fewer …


Then & Now - October 2020

October 1st, 2020

Then & Now - October 2020

OCTOBER 2001

Operators, including Syncrude Canada Ltd. and Suncor Inc., which operate existing Canadian oil sands projects report having a number of projects under development or on the drawing board worth an estimated $51 billion (CAD). These projects are expected to extend oil sands production from about 600,000 b/d to an expected 1.9 million b/d within a decade.

Last month’s attack on the WTC is not forecast to significantly impact hydrocarbon demand, as economic growth is expected to be sluggish.

Military demand, on the other hand, is expected to spike significantly.

Light, sweet crude: $22.47/bbl

Natural gas: $2.00/MMbtu

U.S. active rig count: 1,140


OCTOBER 2008

Does this analyst report sound vaguely familiar..? "With numerous wells expected to be shut in and capacity coming online, 2009 is shaping up to be an ugly year in North America.”

Reliance Industries Ltd., Mumbai, and …