Individuals, companies, entire industries (including the oil and gas
community), and governments are all under great economic stress. Stress can sap
one’s strength, but there is a positive side. Stress reveals the cracks, the
weaknesses, and the excesses. As one steps out of denial, addresses the weakness
and takes appropriate action, it is amazing how promising paths develop clarity.
Let me pose a few basic questions relevant to exploration and development. Am
I efficient? Do I know what is changing and how it applies to me? Am I doing the
right thing? Now let me address four specific areas.
Data Collection/Management
Do I know the types of data publicly available, and the choices for getting
them? Is it a major hurdle getting the inter- nal data I need? And once I get
all this data, is it a struggle to access, organize and manipulate them?
In the old days, one may have been able to get by spending 80 percent of his
time finding and organizing data, which left only 20 percent for interpreting
them and making sound decisions. But that doesn’t cut it today.
There are sources, technologies and tools available that enable one to
reverse the percentages. Creating more time for interpretation and introspection
gives one’s “experience” a chance to bear fruit. Feel inadequate here? PTTC can
be a resource for upgrading your data collection/management knowledge.
Technology Awareness
It is well accepted that technology (along with common sense) is both the
present and the future in the oil and gas industry (and most industries, for
that matter). That applies whether the technologies are for mature fields or the
newer resource plays.
It is also well known that technology life cycles (from idea to commercial
development to appropriate market penetration) in oil and gas can take 10 or
more years, but that need not be the case. It certainly can’t be the case in
resource plays, where the land position must be secured early, and the learning
curve about how to apply technologies in “this” play moved through quickly,
followed by large-scale profitable development before land positions that one
paid so dearly for are lost.
Whatever my problem or opportunity, do I know what technologies/approaches
are accepted as proven? Where and when are they applicable? Do I know what
technologies are on the leading/bleeding edge, and just how bloody is that edge?
Who are the leading thinkers in a field, and where do they think technology is
going? Is there a way, and is it to my benefit to in some way participate in
their leading edge work? What is government doing in the technology realm? Where
and how can I directly benefit?
Are you satisfied with your answers? Again, PTTC with its network and
connections can help you stay informed so you can make timely decisions with
greater confidence.
Waste, Excess And Longevity
In flush times, one can overlook some wastes and excess (maybe I really don’t
need Starbucks today). In tough times, there is no excuse for waste and excess.
In the oil and gas realm, there are thousands of questions that can be asked.
Let me state a few.
When is the last time I seriously looked at my power consumption? Are there
changes in equipment, design, operating practices and power contracts that will
lower that cost? This implies I have done some research and know what the
preferred practices are. Is my equipment lasting as long as it should? How can I
make it last longer? How and when should I rehabilitate equipment, or should I
just replace it? PTTC has published extensively in this whole arena; let us at
least be one of the resources you consult.
Impact On Our Physical World
The oil and gas industry provides a service to society: finding and producing
a significant portion of the energy that makes our world work. There are
associated costs, both in dollars and impact, and a balance that must be
achieved. As individuals and companies we must look the “man in the mirror” and
know we have done our part.
Sometimes that part saves money quickly (the low-hanging fruit such as
reducing methane emissions). Sometimes it is profitable, but does involve a
significant payout period. Sometimes it is mandated (Spill Prevention, Control
and Countermeasure rules, for example), and sometimes it is just the right thing
to do (work toward recycling fracture flow-back water, and
Exposing
Weakness Can Lead To Discovering New Strengths