February 2017 Newsletter
Message From the President
Dear Members & Friends of the LPS,Thanks to the multitudes who attended our recent ’New Technology’ seminar on 24th January! We hosted 16 lecturers covering mud logging, core, LWD, wireline, & conveyance. The feedback received focused on the high quality of talks, with thanks to Dawn Houliston (VP Technology) for pulling it all together! A record of 85 participants illustrates the renewed optimism in our industry.
With all this technology recently available, the onus is now firmly on O&G Operators to embrace these advances in their quest to book reserves & develop resources. Most of us realize that maximizing focus on early data collection will optimize project costs over the life-time of any asset. It is the duty of our profession not only to conduct technical evaluations, but also to justify the value of adopting new technology (where appropriate) and prepare convincing financial arguments to line management & other stakeholders, of their benefit. Recent cuts in operator AFE well budgets have reduced understanding of reservoir complexities to a most basic level, yet at a time when the reservoirs we encounter are at their most complex! The economic pitfalls of under-evaluating a field has led to a cascade of unfortunate consequences for far too many operators in recent years. It is time for our profession to make a stand- for the long-term viability of producing these reserves in the most economical manner.
Our next One Day Seminar is coming up soon. ‘Essentials of Core Analysis’ will be held on Thursday 16th March. And a note that our next Evening Lecture will be held next Monday 27th Feb, where Professor Paul Glover from the University of Leeds, will present ’Advanced Fractal Modelling of Heterogeneous Reservoirs’.
Also within this Newsletter we continue our series of technical articles, with the well-known Professor Paul F. Worthington writing ‘On the Containment of Petrophysical Uncertainty’, which I am sure you will all find a good read. And now is the last chance to sign up for Membership and receive the presentations from our ‘New Technology’ seminar. It is currently still free – check our website.
Michael O’Keefe – LPS President