Postponned to a later date
Date: Monday, May 12, 2003
Place: Westchase Hilton, 9999 Westheimer
Time: Social 5:30 p.m., Dinner 6:30 p.m.
The image of the energy industry is impacting its ability to attract top talent while the challenges the industry faces requires the best that universities can offer. Energy has nowhere near the popularity of other industries. This is partly due to its history of negative publicity.
Current news events have added to the stigma. The image is equally impacted by the perception of it being a mature industry with cyclical layoffs and a far less lucrative upside than newer technologies. Yet, the need for energy is growing and the technology challenge to find it is considerably more demanding.
Unfortunately, the demographics of the energy talent pool do not bode well for the industry retaining its intellectual capability over the coming decade. Couple the demographics with the poor image and the industry may be facing a crisis in energy careers. The energy industry needs to work itself back up the ladder of what is hot for aspiring talent. We need a renaissance in people aspiring for energy careers. Industry leaders, educators, and other relevant parties need to engage in focusing on the drivers that can re-energize energy careers.
Houston is the only city with the critical mass of energy leadership to even begin to tackle this problem; no one company can change the image; it requires a community effort. One part of this solution is the University of Houston’s Global Energy Management Institute that is focusing on energy education and providing a forum for the energy community to address this critical issue. n
Biographical Sketch:
Lane Sloan had a distinguished and diversified career with Shell Oil Company, retiring after 29 years of service at the turn of the millennium. He joined Shell in 1970 where his early career was spent in a variety of corporate roles in Houston, ranging from Information and Computer Services to Corporate Planning, Audit, and Treasury. In 1981, he became Production Administration Manager for Shell California Production Inc., followed by a position in the corporate organization as Manager Services Planning. Lane was appointed to Shell’s senior management as General Manager of Products Finance in early 1985. He then undertook an assignment as Liaison Shell Oil in London, returning to Houston in 1987 as Vice President Corporate Planning. He became the Chief Financial Officer for Shell Oil Company in 1989 as Vice President of Finance and Business Services. In this period, Lane orchestrated the formation of the shared services concept that later became Shell Services Inc. He returned to London, first as the Regional Coordinator for the Far East and then as Director of the East Zone in Oil Products. In 1987, Lane was appointed the Chief Executive Officer of Shell Chemical Company, later becoming the Executive Vice President-Americas when Chemical became a global organization in Royal Dutch/Shell.
After leaving Shell, he joined SAIC in 2000 as an Executive Vice President responsible for its Energy Sector. At the end of that year, he became CEO of GrandBasin, a joint venture between Halliburton and SAIC. He left that role in 2001 when GrandBasin was absorbed into Landmark Graphics, a subsidiary of Halliburton.
Lane received a BS in business from the University of Colorado. In addition, he attained an MS in quantitative management science from the University of Colorado, an MS in accounting and an MBA in finance from the University of Houston.
He has served on the University of Houston’s Bauer College of Business Dean’s Advisory Board for over a decade and is currently on the Executive Committee and Chairman of the Energy Committee. He was awarded an honorary Master’s of Business Experience as well as the Distinguished Alumnus Award from the Bauer College. Lane is a board member for the Sam Houston Area Boy Scouts Council, and was a former board member of the Houston Zoological Society. He also serves on the board of the Houston Technology Center. Recently, Lane became a member of the Silver Fox Advisors. He is teaching courses primarily focused on corporate strategy and strategic leadership at the Bauer College.
"Petroleum Geology of Iraq: A 2003 Review"
Date: Monday, May 19, 2003
Place: Westchase Hilton, 9999 Westheimer
Time: Social 5:30 p.m., Dinner 6:30 p.m.
Iraq remains one of the premier countries for exploration potential. However, along with political, economic, and safety issues that confront future production, exploration problems remain. Dry holes will be drilled along with discoveries. In 2000, the USGS estimated undiscovered reserves at mean of 45 billion barrels of oil in Iraq, and in its 2002 Country Analysis Briefing, the US Energy Information Administration (EIA) reported the oil reserves of Iraq to be 112 billion barrels with “probable and possible reserves” of 220 billion barrels. The total resource base receives an additional boost from an estimated 110 TCF proven and 150 TCF probable gas reserves.
At face value, Iraq has the appearance of a place where any prudent exploration company should aspire to be. But are there other perspectives? In a 2000 United Nations report a grim status was given concerning the northern and southern producing regions. The report pointed out production problems from both Kirkuk and Rumaila that risk irreversible reductions in ultimate recovery. In Rumaila the risk, according to the UN, is having recoveries of 15 to 25 percent instead of 35 to 60 percent, with the latter being normal expectations elsewhere for similar reservoirs. In the current (2002) Country Analysis Brief for Iraq, the EIA points to similar emerging field and production problems.
In this paper we focus on the future of true exploration in Iraq. Certainly the conditions are right to expect more giant oil accumulations. However, we believe that there is also reason to exercise caution and that exploration success will depend on identifying discrete areas where there is an efficient bottom-to-top petroleum system. In effect, given that not all concession positions will high grade equally, we address the question of whether or not Iraq can live up to the 45 billion undiscovered barrels expected of it.
In addressing exploration potential in Iraq, we have chosen to work on what we perceive to be fundamental geological attributes. The foundation of our work is a set of chronostratigraphic isopach and structural maps for both Iraq proper and surrounding areas. We have further used these maps to construct a series of „ derivative products, including regional structural cross-sections extending northeast to southwest from the Zagros of Iran to Syria, Jordan, and Saudi Arabia and petroleum generation scenarios.
The basis and ultimate test of our work, however, is data taken from the study of wells, field information, and hydrocarbon distribution from the region. Several issues, particularly spatial coincidences and discrete geographic areas, deserve discussion. These include:
Biographical Sketch:
Walter H. Pierce is the director of WHPierce Exploration located in Cypress, Texas, USA. His background includes consulting after early retirement subsequent to 17 years of experience with international groups within Amoco. He has 17 years of experience working the Middle East. He has a PhD and MS in geology from the Colorado School of Mines and an BA from DePauw University. Previously he taught geology for eight years at Ball State University, University of Georgia, and the Colorado School of Mines. He also worked for the USGS in the Petroleum and Heavy Metals groups. His recent work has focused on hydrocarbons of the Arabian Plate. Most recently, he teaches physical geology to freshman at Tomball College and consults for GeoMark on the Zagros Basin. He may be contacted at walterhpierce@yahoo.com or through his website at whpierceexploration.com
South Louisiana Petroleum Exploration
Place: New Orleans Marriott Hotel, 555 Canal Street, New Orleans, LA 70130
Cost: Early Registration Cost: $125/person, Price includes Wednesday night (May 21) icebreaker party, Thursday lunch and refreshments
Registration: Registration available at NOGS Web site: www.nogs.org or call (504)561-8980.
Note: For general information contact George Rhoads at (504)592-6873 or grhoads@chevrontexaco.com
"Your Future"
Date: Wednesday, May 28, 2003
Place: Petroleum Club, 800 Bell Avenue, Downtown
Time: Social 11:15 a.m., Lunch 11:45 a.m.
Throughout most of the 20th Century, AAPG has promoted scientific, prudent, and environmentally sound exploration and production of hydrocarbons and energy minerals. Now at the beginning of the 21st Century, 86% of the world’s energy is still provided by fossil fuels. With rising living standards worldwide, the need for energy will only continue to grow.
Although the world will someday transition to a nonhydrocarbon era, the world is not imminently “running out of oil.” From the world’s “proven reserves” and “field growth” alone, the daily worldwide consumption can be maintained for 53 years for oil and for 60 years for gas. If we assume that only half of “undiscovered resources” will eventually be converted to “proven,” the numbers can be extended to 71 years for oil and to 92 years for gas. Even if the annual consumption of oil and gas grows at a modest rate of 2% annually, the supplies should last for most of this century.
In the United States, we consume almost 25% of the world’s energy with only 5% of the population. We are already importing almost 60% of our oil and about 15% of our gas. However, we can maintain our supplies for approximately 50 years at the current consumption and import levels just from our “proven reserves” and “field growth” and by converting only 50% of the undiscovered resources to proven reserves category. Moreover, “unconventional resources” (such as heavy oil and gas hydrates) have the capacity to extend these time horizons for the world and the United States almost indefinitely. Although world resources are not a problem, the balance of supply and demand may be a huge problem depending on drilling activity and worldwide geopolitical stability.
The figures above assure us that while there is no reason to panic, we should not fall into complacency either. The transition to a nonhydrocarbon era should not only consider the well-being of mankind and the environment, but also be based upon sound economic principles. In this regard, worldwide efforts to promote energy efficiency and research on “renewables” need to be undertaken. While there is a need for global efforts to manage the transition to nonhydrocarbons, the United States, with its status as the only super power and its reliance on imports, needs to have a sound energy policy. AAPG members, as students of the Earth, not just as oil and gas finders, will continue to play a crucial role in helping the world with its energy needs well into the 22nd century.
Biographical Sketch:
Dan Smith has 45 years of oil and gas exploration and production experience. His background includes prospect generation, property evaluation, structural and stratigraphic interpretations, well log analysis, geophysics, and business and financial management. He is responsible for causing over 100 successful wells to be drilled, resulting in numerous new field discoveries. Mr. Smith started his career at Amoco after graduation from UT Austin with a degree in geology. He became Executive Vice President and part owner of Texoil after a period at Roberts and Whitson Petroleum.
In 1992 he joined Meridian Resource Corporation as a consultant, accepting a position as Vice President in 1996. He continued with Meridian until 1999, when he again became an independent. Mr. Smith joined Sandalwood Oil & Gas, Inc. as Executive Vice President in 2001. Mr. Smith has served as President of HGS and the SIPES foundation. He received the Distinguished Service and Honorary Life Membership Award from both HGS and GCAGS. He also received the Distinguished Service Award from AAPG. He is a member of SEG and GSH and currently President of the AAPG.