Oil & Gas 101 – Article Series

“Things looked grim for American energy in 2006. Oil production was in steep decline and natural gas was hard to find. The Iraq war threatened the nation’s already tenuous relations with the Middle East. China was rapidly industrializing and competing for resources. Major oil companies had just about given up on new discoveries on U.S […]

This article is written with an objective that readers get a glimpse of the various activities starting from identifying and assessing Oil & Gas reserves to extraction of hydrocarbons, and the eventual selling of refined derivative products to consumers. The three facets of the value chain are: Upstream – Exploration and Production Midstream – Transportation […]

An Exploration & Production company announced its 2018 year-end reserves thus: “The company produced approximately 5.3 MMboe in 2018 that exceeded its planned production numbers and replaced 88% of its 2018 production on a 1P gross reserves basis.” For the uninitiated, this piece of information may be difficult to understand. The objective of this article […]