Great video on ILX Alan. Worth noting the synonyms - NFE - near field exploration, ERD - extended reach Drlling (those targets which can be drilled from the platform rig). Am sure there are others.
@DonaldWilliams88Rox88Ай бұрын
Very well done. Ty for the presentation 🎉
@riansagemilangАй бұрын
good Presentation, my i have your PDF Presentation
@CuriousEarthManАй бұрын
Great detail, thank you!
@KalLatifАй бұрын
Brilliant 👍 Thanks 🙏
@samcrosswords8979Ай бұрын
Thank you so much! Cleaer and to the point 👍
@jediTempleGuard2 ай бұрын
It indeed is difficult when one is stressed out. Not just in financial terms, but it is also hard to focus on your job, which in turn has a negative impact on your personal brand.
@jediTempleGuard2 ай бұрын
I watched some of your videos and found out that they are actually pretty good, informative videos. So, I decided to start from the beginning :) Thanks for sharing your experience. Regards.
@danielteixeira64972 ай бұрын
Thank you for the analisys Alan. Do you have any videos or know any good resourcers on the economics of the carbon emission markets?
@AlanFoumGeophysicist2 ай бұрын
I think that the Oxford Institute of Energy studies - www.oxfordenergy.org/ may be a good place to start
@delbarb-dl4xt3 ай бұрын
Thank you Mr. Alan, I'm from Zanzibar and I'm quite impressive seeing a log of Zanzibar Geophysics on top corner of every page you explain
@delbarb-dl4xt3 ай бұрын
Excellent and well informative
@IOblivionl4 ай бұрын
Keep up the good work! Silent watcher here. Learned so much and you have a knack of simplifying complex topics
@viniciusriguete66445 ай бұрын
Thanks, Alan! Very interesting
@user-fy2sn9fs3f5 ай бұрын
Outstanding presentation Alan...loved it!
@sandipkumarroy16545 ай бұрын
Excellent Alan. Great content, presentation and thought. I would still love to quote Wallace Pratt " Oil, in final analysis, is found in the minds of men." New exploration ideas, untested deeper horizons in matured basins, untested basins, unconventionals ( a breakthrough in production testing in gas hydrates) are attributed to hydrocarbons of tomorrow. There is no doubt that technology and the cost of it acts as key catalysts.
@jaredmellom6 ай бұрын
Great video!
@stanislavgritciuk3377 ай бұрын
Great analysis, thank you
@filwhip8 ай бұрын
Super interesting! Thank you
@setme4ree8 ай бұрын
Why would you choose a 19.5% recovery factor?
@AlanFoumGeophysicist8 ай бұрын
I do not remember saying 19.5% for a recovery factor having re looked at the script PowerPoint I tend to use round numbers A 20% recovery factor would be disappointing for an oil field, 35 to 40% would be more typical for a mid case A recovery factor is an artificial construct being the recovered volume / in place volume - a 19.5% recovery factor is therefore possible but I would be a bit suspicious of anyone quoting decimal places in this situation
@crowlsyong8 ай бұрын
Brilliant! KZread tossed this in my recommended videos, and I’m blown away. You’ve got me curious about geophysics now, and well planning. Thank you, have a great day.
@TROVE-1stSubsurface9 ай бұрын
Great summary Alan. In your hypothetical Swanson's Rule slide its a bit scary your Swanson Mean ($308mm) is significantly higher than your mid case ($261mm). I wouldn't recommend this method for justifying a bid. 😂😂 "Averages" are typically overly-influenced by big numbers.
@AlanFoumGeophysicist9 ай бұрын
Mike - using Swanson's rule takes both high and low cases into account which I believe is necessary - the tricky bit as you say is choosing appropriate high and low values for the estimation - a high case which is too high will as you say skew the result upwards a probabilistic / Monte-Carlo approach may be better - I do feel that using a single number from a best /most likely case will also have its flaws as it does not take uncertainty into account , however many managers do like a single number
@TROVE-1stSubsurface9 ай бұрын
Another great video Alan! The family trees are impressive, that's a lot of work and a complex evolution.
@medyassinekhadri763111 ай бұрын
Thanks for your clarity.
@shadabkhan-yh6li11 ай бұрын
While calculating the economics, should we use the minimum GIIP numbers or mean GIIP number??
@AlanFoumGeophysicist11 ай бұрын
I talk about this in my Basic economics primer video To sum up we should use recoverable resource estimates not Volume in place We should really use 3 cases , low. mid and high: weighted using Swanson's rule - with 30% weighting to low and high and 40% weighting to the mid case to come up with a summary NPV value If we are to use one case only (not ideal) then we should use the mean case as this represents an average of all the cases
@shadabkhan-yh6li11 ай бұрын
@@AlanFoumGeophysicist ok thank you. i appreciate your swift response
@TROVE-1stSubsurface11 ай бұрын
Another great primer Alan. Deepwater seems to be making a comeback with so many DP semi-subs heading for Namibia and drillships to Guyana-Suriname, to name but two active areas. Rig rates are again high for these vessels and a dry hole can cost anywhere up to $200 million. However, as you show in the Hess Liza slide, the returns can be substantial!
@TROVE-1stSubsurface Жыл бұрын
Another great video. Whilst I agree dry hole are great learning, give me a discovery EVERY time!!
@AlanFoumGeophysicist Жыл бұрын
Yes to paraphrase Confucius - a discovery has a thousand parents , a dry hole is an orphan
@wassimsayeb1329 Жыл бұрын
Great presentation Alan !
@mazenomar7279 Жыл бұрын
I have two quiz.the first sone company use total porosity instead of effecive one.do you suggest why .the second one what is the basis for choosing montecarlo distribution input curve.❤❤
@AlanFoumGeophysicist Жыл бұрын
Effective porosity is the porosity that is connected, Total porosity includes non connected pores. The non connected pores cannot contain hydrocarbons. The connected pores may contain producible hydrocarbons and therefore this is what should be used in HC in place estimation. The two porosity estimates are usually very close in most rocks - please see my video a basic primer on porosity and permeability
@thomasvogelsinger4007 Жыл бұрын
Do you think offshore oil is the place to be in the next bull run in oil ? Thanks
@AlanFoumGeophysicist Жыл бұрын
I do not know - but almost all the giant fields that have been discovered since 2000 worldwide have been in deep water and about 70 to 80% of the volumes discovered by large listed companies since 2000 were also in deep water settings If you are talking about the USA , namely the Gulf of Mexico I do not know enough about it but some significant discoveries have been made in the recent past - Question will the US large Caps that have concentrated virtually exclusively on shale come back to conventional exploration?
@TROVE-1stSubsurface Жыл бұрын
Great video Alan. Very insightful and informative. Congratulations on reaching KZread 1,000 subscribers - well deserved.
@brugnamename6133 Жыл бұрын
the Earth needs more CO2. It is what sustains all plant life on Earth. This yammering about ppm of CO2 is to frighten the people who don't know better. I call total BS on this entire premise.
@MauZlatan Жыл бұрын
Very interesting!
@Thewestslope Жыл бұрын
I'll side with the EIA forecast. Naturally, I am assuming that large numbers of people in EMES and lesser-developed poor countries continue to lift millions upon millions out of poverty. I am also assuming that the USA and other countries do not budge off their 'cheap energy entitlement' and gratuitous virtue-signalling remains a significant force behind policy in the USA and other countries.
@TROVE-1stSubsurface Жыл бұрын
Hi Alan, If you are looking to do a follow up on crude oil types, we have the TROVE Crude Oil Catalogue which features data on over 440 different crudes worldwide. As well as API Gravity and Sulphur content, we also have production figures, wax content, cloud point, pour point, Reid vapour pressure, kinematic viscosity, nitrogen content, vanadium content, acidity, contributing fields, region & country. Let me know if this helps. ATB, Mike
@maximskuzovatov3552 Жыл бұрын
Alan, there is so much useful information in your videos. Great job! Keep doing it.
@ianthehunter3532 Жыл бұрын
This came up as recommendation for me.
@Thewestslope Жыл бұрын
Thanks. Much appreciated. This is not my field so I need to keep reviewing the material.
@AHMED_ALGERIA Жыл бұрын
Great
@HandlewasNo Жыл бұрын
Another great video. Would you mind going over the oil opportunities in offshore South America? Brazil, Guyana, and now even Suriname seem to be in the midst of a production tidal wave due to the recent productions and discoveries of high quality oils, I think it would make a good video discussing why these barrels are worth producing, and how the discoveries will impact these previously poor nations, especially Guyana and Suriname.
@AlanFoumGeophysicist Жыл бұрын
The best accessible videos on this subject are by Mike Cooper of Trove = www.youtube.com/@TROVE-1stSubsurface
@Thewestslope Жыл бұрын
Decent overview. I would add that ESG is a corporate doctrine, not government policy, and getting the environmental and social aspects right is critical for resource companies to be able to operate without risk of costly hold up or appropriation.
@AlanFoumGeophysicist Жыл бұрын
I cover this part in my videos on advantaged oil barrels (2 parts)
@Thewestslope Жыл бұрын
@@AlanFoumGeophysicist Watching it now.
@ECIAS_94 Жыл бұрын
Very informative vedio for a geophysicist like me. Thanks a Lot.
@nunnagodforgivesodont7177 Жыл бұрын
Alan, Great Video explaining about Crude Oil Grade's etc, most people think Oil is just the black stuff?, I have 2 Questions please 1. Would Western Canadian Select be a major benchmark if the Keystone pipeline and pipelines to west coast were allowed and built? Is the majority of Gulf of Mexico Crude medium sour? like Mars Cheers ✓
@AlanFoumGeophysicist Жыл бұрын
The WCS is already a major benchmark - if you mean will the WCS to WTI differential reduce if the Keystone pipeline is built then I believe that this will happen and WCS prices will be closer to similar crudes such as Maya , regarding GOM oils I really do not know but they probably vary quiet a lot
@starlordude Жыл бұрын
I love you
@HandlewasNo Жыл бұрын
Excellent presentation professor. I especially appreciate the last slide of people taking energy for granted, as we’ve seen europe’s punishment of hydrocarbons over the past decade lead to a energy crisis.
@SuperMarcushall Жыл бұрын
Really helpful video Alan - thank you
@gabrieledegrandi6219 Жыл бұрын
Sorry but you forgot Pennzoil as part of Shell
@thorkushari4027 Жыл бұрын
Nice video. Bitcoin mining is a current market for produced gas that wasn't around a few years ago. I have doubts about it's social utility but if no other market can be found why not?
@Alan-sc3fe Жыл бұрын
Cant wait to see an end to this timeline
@diegopimentel1361 Жыл бұрын
It will never end
@servehnaderi88452 жыл бұрын
Fantastic presentation and I learned a lot from it. Thank you.
@pulpshuffle2 жыл бұрын
What are your thoughts on companies like Exxon starting to use flared gas to power bitcoin miners?
@AlanFoumGeophysicist2 жыл бұрын
A few people mentioned this when I posted the video on LinkedIn - I know little about this - Basically gas which was due to be fared is used to power an electricity generator which is then used to power local computers used for bitcoin mining
Пікірлер
Great video on ILX Alan. Worth noting the synonyms - NFE - near field exploration, ERD - extended reach Drlling (those targets which can be drilled from the platform rig). Am sure there are others.
Very well done. Ty for the presentation 🎉
good Presentation, my i have your PDF Presentation
Great detail, thank you!
Brilliant 👍 Thanks 🙏
Thank you so much! Cleaer and to the point 👍
It indeed is difficult when one is stressed out. Not just in financial terms, but it is also hard to focus on your job, which in turn has a negative impact on your personal brand.
I watched some of your videos and found out that they are actually pretty good, informative videos. So, I decided to start from the beginning :) Thanks for sharing your experience. Regards.
Thank you for the analisys Alan. Do you have any videos or know any good resourcers on the economics of the carbon emission markets?
I think that the Oxford Institute of Energy studies - www.oxfordenergy.org/ may be a good place to start
Thank you Mr. Alan, I'm from Zanzibar and I'm quite impressive seeing a log of Zanzibar Geophysics on top corner of every page you explain
Excellent and well informative
Keep up the good work! Silent watcher here. Learned so much and you have a knack of simplifying complex topics
Thanks, Alan! Very interesting
Outstanding presentation Alan...loved it!
Excellent Alan. Great content, presentation and thought. I would still love to quote Wallace Pratt " Oil, in final analysis, is found in the minds of men." New exploration ideas, untested deeper horizons in matured basins, untested basins, unconventionals ( a breakthrough in production testing in gas hydrates) are attributed to hydrocarbons of tomorrow. There is no doubt that technology and the cost of it acts as key catalysts.
Great video!
Great analysis, thank you
Super interesting! Thank you
Why would you choose a 19.5% recovery factor?
I do not remember saying 19.5% for a recovery factor having re looked at the script PowerPoint I tend to use round numbers A 20% recovery factor would be disappointing for an oil field, 35 to 40% would be more typical for a mid case A recovery factor is an artificial construct being the recovered volume / in place volume - a 19.5% recovery factor is therefore possible but I would be a bit suspicious of anyone quoting decimal places in this situation
Brilliant! KZread tossed this in my recommended videos, and I’m blown away. You’ve got me curious about geophysics now, and well planning. Thank you, have a great day.
Great summary Alan. In your hypothetical Swanson's Rule slide its a bit scary your Swanson Mean ($308mm) is significantly higher than your mid case ($261mm). I wouldn't recommend this method for justifying a bid. 😂😂 "Averages" are typically overly-influenced by big numbers.
Mike - using Swanson's rule takes both high and low cases into account which I believe is necessary - the tricky bit as you say is choosing appropriate high and low values for the estimation - a high case which is too high will as you say skew the result upwards a probabilistic / Monte-Carlo approach may be better - I do feel that using a single number from a best /most likely case will also have its flaws as it does not take uncertainty into account , however many managers do like a single number
Another great video Alan! The family trees are impressive, that's a lot of work and a complex evolution.
Thanks for your clarity.
While calculating the economics, should we use the minimum GIIP numbers or mean GIIP number??
I talk about this in my Basic economics primer video To sum up we should use recoverable resource estimates not Volume in place We should really use 3 cases , low. mid and high: weighted using Swanson's rule - with 30% weighting to low and high and 40% weighting to the mid case to come up with a summary NPV value If we are to use one case only (not ideal) then we should use the mean case as this represents an average of all the cases
@@AlanFoumGeophysicist ok thank you. i appreciate your swift response
Another great primer Alan. Deepwater seems to be making a comeback with so many DP semi-subs heading for Namibia and drillships to Guyana-Suriname, to name but two active areas. Rig rates are again high for these vessels and a dry hole can cost anywhere up to $200 million. However, as you show in the Hess Liza slide, the returns can be substantial!
Another great video. Whilst I agree dry hole are great learning, give me a discovery EVERY time!!
Yes to paraphrase Confucius - a discovery has a thousand parents , a dry hole is an orphan
Great presentation Alan !
I have two quiz.the first sone company use total porosity instead of effecive one.do you suggest why .the second one what is the basis for choosing montecarlo distribution input curve.❤❤
Effective porosity is the porosity that is connected, Total porosity includes non connected pores. The non connected pores cannot contain hydrocarbons. The connected pores may contain producible hydrocarbons and therefore this is what should be used in HC in place estimation. The two porosity estimates are usually very close in most rocks - please see my video a basic primer on porosity and permeability
Do you think offshore oil is the place to be in the next bull run in oil ? Thanks
I do not know - but almost all the giant fields that have been discovered since 2000 worldwide have been in deep water and about 70 to 80% of the volumes discovered by large listed companies since 2000 were also in deep water settings If you are talking about the USA , namely the Gulf of Mexico I do not know enough about it but some significant discoveries have been made in the recent past - Question will the US large Caps that have concentrated virtually exclusively on shale come back to conventional exploration?
Great video Alan. Very insightful and informative. Congratulations on reaching KZread 1,000 subscribers - well deserved.
the Earth needs more CO2. It is what sustains all plant life on Earth. This yammering about ppm of CO2 is to frighten the people who don't know better. I call total BS on this entire premise.
Very interesting!
I'll side with the EIA forecast. Naturally, I am assuming that large numbers of people in EMES and lesser-developed poor countries continue to lift millions upon millions out of poverty. I am also assuming that the USA and other countries do not budge off their 'cheap energy entitlement' and gratuitous virtue-signalling remains a significant force behind policy in the USA and other countries.
Hi Alan, If you are looking to do a follow up on crude oil types, we have the TROVE Crude Oil Catalogue which features data on over 440 different crudes worldwide. As well as API Gravity and Sulphur content, we also have production figures, wax content, cloud point, pour point, Reid vapour pressure, kinematic viscosity, nitrogen content, vanadium content, acidity, contributing fields, region & country. Let me know if this helps. ATB, Mike
Alan, there is so much useful information in your videos. Great job! Keep doing it.
This came up as recommendation for me.
Thanks. Much appreciated. This is not my field so I need to keep reviewing the material.
Great
Another great video. Would you mind going over the oil opportunities in offshore South America? Brazil, Guyana, and now even Suriname seem to be in the midst of a production tidal wave due to the recent productions and discoveries of high quality oils, I think it would make a good video discussing why these barrels are worth producing, and how the discoveries will impact these previously poor nations, especially Guyana and Suriname.
The best accessible videos on this subject are by Mike Cooper of Trove = www.youtube.com/@TROVE-1stSubsurface
Decent overview. I would add that ESG is a corporate doctrine, not government policy, and getting the environmental and social aspects right is critical for resource companies to be able to operate without risk of costly hold up or appropriation.
I cover this part in my videos on advantaged oil barrels (2 parts)
@@AlanFoumGeophysicist Watching it now.
Very informative vedio for a geophysicist like me. Thanks a Lot.
Alan, Great Video explaining about Crude Oil Grade's etc, most people think Oil is just the black stuff?, I have 2 Questions please 1. Would Western Canadian Select be a major benchmark if the Keystone pipeline and pipelines to west coast were allowed and built? Is the majority of Gulf of Mexico Crude medium sour? like Mars Cheers ✓
The WCS is already a major benchmark - if you mean will the WCS to WTI differential reduce if the Keystone pipeline is built then I believe that this will happen and WCS prices will be closer to similar crudes such as Maya , regarding GOM oils I really do not know but they probably vary quiet a lot
I love you
Excellent presentation professor. I especially appreciate the last slide of people taking energy for granted, as we’ve seen europe’s punishment of hydrocarbons over the past decade lead to a energy crisis.
Really helpful video Alan - thank you
Sorry but you forgot Pennzoil as part of Shell
Nice video. Bitcoin mining is a current market for produced gas that wasn't around a few years ago. I have doubts about it's social utility but if no other market can be found why not?
Cant wait to see an end to this timeline
It will never end
Fantastic presentation and I learned a lot from it. Thank you.
What are your thoughts on companies like Exxon starting to use flared gas to power bitcoin miners?
A few people mentioned this when I posted the video on LinkedIn - I know little about this - Basically gas which was due to be fared is used to power an electricity generator which is then used to power local computers used for bitcoin mining