AnTech Presents At AAPG New Thinking Event
In May, AnTech was invited to present at the American Association of Petroleum Geologist’s (AAPG) latest workshop. The event titled ‘New Thinking and Value Propositions in Exploration and Production: Pro Active Steps Now’ was held on the 17th and 18th May, at the Norris Conference Centre, Houston.
The conference featured over fifteen presentations from a variety of operators, consultants, and service companies and headline names included Halliburton, New Horizon Exploration, Pressure Pumping and Riverford Resources. The aim of the two day workshop was to proactively explore opportunities and learn about the holistic value proposition of revitalising old wells, which is highly relevant in today’s low price environment.
An extensive range of topics were covered during the conference, including a presentation from our very own Richard Stevens, AnTech’s Coiled Tubing Applications Engineer. Richard’s presentation explored the opportunities and the value proposition associated with Coiled Tubing Drilling. The key points from his presentation were:
- Operators have been forced to re-evaluate the economic viability of their reserves as oil in the ground generates no revenue.
- However, getting oil from the ground in a sub 50 USD/bbl market and making a profit, is providing a highly stimulating challenge to a generation of engineers and geologists accustomed to twice that market value.
- Innovative technologies such as Directional Coiled Tubing Drilling provide opportunities and can help revitalise oil wells.
- Directional CTD Bottom Hole Assemblies are being deployed in order to drill new wells but more importantly, to re-enter and extend existing wells by adding multi-lateral branches and extensions.
- More complex and larger holes of up to 8-1/2" are being drilled, enabling operators to make the most of their existing reserves.
- Operators should consider the holistic value proposition of an intervention and the lifecycle of their resources.
The event was a great success and attracted engineers, geologists, geophysicists, land professionals and entrepreneurs from across the oil and gas industry. We would like to thank Susan Nash, Director of Innovation & Emerging Science and Technology at AAPG for the kind invitation to present at the event.
To find out more about the workshop or AAPG, please visit: AAPG