The Future is Bright
In Texas, all adults are now eligible to receive a COVID-19 vaccine. This is a moment many have been waiting for, as it symbolizes a big step closer toward getting back to some normalcy. The combined effect of more and more people getting vaccinated by the day, and the reported effectiveness of the vaccines administered, gives me hope that one day soon we will overcome the challenges we have all lived through over the past year. As a section, we cannot wait to get back to doing what we do best – providing opportunities for our members to exchange technical knowledge and allowing them to build relationships through networking. This month, I will highlight a few upcoming events, including Geothermal Experience (GTX 2021) and our flagship event for Young Professionals – Roughneck Camp (RNC).
A few months ago, the SPE-GCS Data Analytics Study Group teamed up with the SPE Calgary Section Data Science Engineering and Analytics (DSEA) special interest group and Untapped Energy to organize a 2021 Datathon. This is another great example of collaboration between two SPE sections in different countries for the greater good of our industry and the data science engineering analytics community. By definition, a datathon is “an online competition where you are challenged to work on a real-world business case from different areas of machine learning, AI and data science.” While the event kicked off in April, there will be bootcamps and workshops through May. Teams will be presented with energy industry data on oil and gas wells to attempt to repurpose those wells for geothermal production. Geothermal energy is viewed as one of the key contributors to a low-carbon energy future. The competition registration closes on May 24; the competition will begin May 25 and end on June 18. If you or your team are interested in participating, visit the event page at spegcs.org/events/6031/.
Roughneck Camp is a one-day summit organized by the SPE-GCS Young Professionals committee for young professionals, interns and students. This year’s theme is “Managing a Successful Oil and Gas Business in Today’s World.” The event is scheduled for June 18, 2021. I have personally attended and volunteered at Roughneck Camp in the past, and I can confirm the event is always well- organized and highly successful. The RNC co-chairs are inviting industry leaders to share their knowledge of the energy business, and their decision-making process during challenging times, to help future energy leaders learn and network. If you are a young professional, an intern, a student or a company internship coordinator, visit the event site to learn more and register at spegcs. org/events/5915/.
In international news, Bloomberg reported that OPEC and its allies will begin to roll back their production cuts in the coming months. According to the Energy Information Administration (EIA), US domestic crude oil production will average 10.9 million barrels a day in the second quarter of 2021 and increase to 11.4 million barrels a day by the fourth quarter of 2021. The EIA expects US crude oil production will average 11.9 million barrels per day in 2022. WTI Crude and Brent Crude oil prices are still fluctuating between $50 and $60 per barrel. Baker Hughes reports show almost no increase in rig count in the US compared to previous months.
Within SPE-GCS this month, the Diversity and Inclusion Committee is planning their first guest speaker event with Cindy Wigglesworth, titled “How to be Effective in a Diverse Workplace.” The Research and Development Study Group is hosting an event called “ExxonMobil Outlook for Energy: The Dual Energy Challenge.” The Continuing Education Committee is hosting a training class, “The 12 Things No One Tells You About Petroleum Data Analytics (Unless You Sign Up for This Workshop).” Check the events calendar for more information and to register.
Until next month,
Simeon