March 2017 Exclusive Story
Demand Could Begin Outpacing Supply
Recognizing continued strong growth in demand, the International Energy Agency is pointing to the real possibility that global crude oil consumption will begin to outpace supply in the near future. That scenario underscores the need to invest in projects today that will produce new oil tomorrow.
That is where America’s independent oil and gas operators enter the picture. IEA forecasts a roaring bounce-back for tight oil plays, and predicts that the USA will be the world’s No. 1 contributor of new oil supplies over the next five years. Despite short-term market reactions to domestic inventory builds as global inventories deplete, industry insiders agree there is no stopping the increased U.S. activity train.
Market In Motion
Combine increased economic activity at home and abroad with OPEC-led production cuts and ongoing depletion to the supply base from Mexico to the North Sea, and you have the perfect recipe for a renewal in drilling and development activity. In April, guest authors provide insights on increasing well productivity and other key economic metrics, along with advice to producers on how to apply lessons learned in pad drilling and lateral completions to expand shale play fairways. A special Washington Update keeps C-suite executives and operations managers abreast of a Trump administration agenda that is moving at light speed to remove regulatory obstacles and foster industry investment.
Steady hikes this year in the Baker Hughes rig counts for both oil and natural gas, a telling 44 percent increase in IHS February drilling permits, and 2017 budget announcements recognizing increased service/supply costs all show how operators are positioning for a full-court press! The April issue details the role of state-of-the-art geomagnetic referencing technology in mitigating uncertainty regarding wellbore trajectory positioning and in optimizing lateral spacing. Features also examine “industry-first” ultralong laterals in the Bakken/Three Forks and best practices honed in prolific Permian Basin plays, and present AOGR’s Annual Gallery of New BHA & Drill Bit Technology.
Gulf Of Mexico & OTC
Defined by low-permeability reservoirs at subsurface depths of 25,000-plus feet, thick layered pay sections, high initial reservoir pressures, and ultradeep waters, the Lower Tertiary Wilcox is one of the world’s most challenging plays. In April, Petrobras outlines technologies that enabled it to economically tackle these complex projects–from reservoir characterization to completion and artificial lift. Special reports also explain why a Marathon-operated well in the narrow-margin Paleogene play represents the future of deepwater Gulf drilling. It all dovetails with the comprehensive Independents Guide to the 2017 Offshore Technology Conference.
The April AOGR also includes the Official Convention News for producer/operator associations in Kansas, Tennessee and Texas, of course, with AOGR’s monthly package of late-breaking news and vital business information.
Advertising space reservation deadline for the April issue is March 24; ad files are due March 29.
Please call 1-800-847-8301 to reserve your space today!