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Business opportunities with unconventionals


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Atle Rettedal
» Vice President Field Evaluation
» Equinor
Oswald Clint
» Senior Analyst
» Bernstein Research

Full Agenda

Tuesday, September 20, 2011
London
The Geological Society

3rd Finding Petroleum Exploration, Technology and Business event

Around the turn of the year, Barclays Capital published its annual review of the oil & gas industry, including within it a summary of its survey of the Most Important Technologies, based on the percentage responses received for each of 12 candidate technologies. As in 2009 and 2010, the top 3 for 2011 were Fracturing/Stimulation, Horizontal Drilling and 3D/4D Seismic, accumulating between them more than 70% of the responses. What’s more, the same 3 have dominated this survey for all 12 years for which data was published, invariably accumulating more than 60% of the responses between them. Over this period, the only other technology to win more than 10% of the responses has been Directional Drilling, garnering 11% four times.

One way to look at these results is to say that responses may be dominated by professionals working in North America and that the favoured technologies will therefore simply reflect what is happening there, in particular the pursuit of shale gas, shale oil, ‘tight’ gas, coal bed methane, as the domestic sources of conventional hydrocarbons begin to diminish.

But there is another way to look at it, we suggest. The survey-leading technologies are those that offer the means to identify the presence of hydrocarbons in ‘tougher’ reservoirs and then extract them. Put another way, wherever there is a prolific source rock, our industry has developed the capacity to move away from conventional reservoirs – whether sandstone or carbonate – with good porosity/permeability characteristics and extract petroleum wherever it is ‘reservoired’ – whether still in the source rock, in ‘tight’ sands, in fractured basement and so on. The North American industry is leading this charge.

Our September Forum will look at a wide variety of 'unconventional' reservoirs with this in mind - shales containing gas, shales containing oil, coal bed methane, 'tight' reservoirs as well as tryly unconventional hydrocarbons such as heavy oil.

Agenda

 
9:30 David Bamford -
New Eyes Exploration

Welcome & Introduction


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David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He was on the board of Premier Oil from May 2014 to May 2016.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.
From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

New Eyes Exploration
New Eyes Exploration, founded by David Bamford, explores new ways to discover Oil and Gas.
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9:50 Atle Rettedal - Vice President Field Evaluation
Equinor

Statoil's Unconventional Strategy/Portfolio


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Mr. Rettedal has both and MSc in Mechanical Engineering and an MSc in Economics and Business Administration from Trondheim and Bergen Universities respectively. He began his professional career at Alcatel Cable Norway (1993-96) working as a Project Engineer. Mr Rettedal joined Statoil in 1996 working first as a Senior Subsea Engineer then Operations Engineer at Statfjord and later as a Production Supervisor at Statfjord C. He also worked as Turnaround Manager at Statfjord C later working as platform Manager. In 2007 Atle became Vice President of Subsea Technology and Operations. Atle currently hold the role of Vice President Field Evaluation and International Business Development. He has been in this role since 2009.

Equinor
Equinor is an international energy company present in more than 30 countries worldwide, including se
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10:25 -
The Steam Oil Production Company Ltd

US Oil Shales


The Steam Oil Production Company Ltd was established in early 2014 with the intention of initiating
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11:00 Coffee & Tea
11:30 Sandra Allwork - Business Development Manager
Paradigm

Investigating the Barnett Shale : A Case Study on how Integrated Technology can help improve your Understanding of an Unconventional Reservoir.


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Talk Description
The key to success in the Barnett Shale is the ability to identify zones of brittle shale that would be suitable for hydraulic fracture stimulation. As with any tight gas field, considerable care must be taken over the position of the well in relation to existing fractures. We will utilize log data to estimate brittleness, kerogen content and closure stress, seismic interpretation and facies classification of these shales then provides information on the extent and thickness of these prospective zones and (for environmental considerations) micro-seismic gives us the ability to effectively monitor fracture development. By integrating Petrophysics, Visualisation and Micro-Seismic Analysis you are able to incorporate all available data to ensure the most accurate understanding of your reservoir.
Sandra Allwork is a Business Development Manager with Paradigm. Since joining the company in 1998, she has worked with a wide variety of workflows within the Paradigm portfolio, specializing in Seismic Imaging and Seismic Reservoir Characterisation. Previously Sandra worked for Ensign Geophysics as Area Geophysicist and Project Geophysicist, responsible for processing large 3D surveys and fast-turnaround site-surveys. Sandra holds a BSc in Geology and Geophysics.

Paradigm
Paradigm software solutions provide the vision for business and engineering decision-makers in subsu
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12:05 Oswald Clint - Senior Analyst
Bernstein Research

How unconventionals fit in the global production picture


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Dr Clint joined Sanford C. Bernstein in 2004 and was part of the Energy Team with Neil McMahon covering the Global Integrated Oil sector.

Currently he is the Senior Research Analyst covering the European E&P and Russian Oil & Gas sectors. The Bernstein Energy franchise has become well known due to both the provocative commentary on the commodities and oil stocks, as well as the innovative research that forms the core of their frequent publications. Previously, he worked as an accountant and consultant for KPMG covering energy, gas, and chemical sectors. Dr Clint received his PhD in Geophysics from University College London where he specialised in sub-surface rock physics and is also a Chartered Accountant.

Bernstein Research
Sanford C. Bernstein is widely recognized as Wall Street's premier sell-side research firm. Their re
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12:45 Raffle Draw, followed by Lunch & refreshments

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