The Value of Integrated Geophysics
VIG Committee Report
Download the March 2016 VIG Committee Report (PDF)
VIG Committee Members
- Paul Hausmanis – Chair
- John Duhault – Past Chair
- Louis Chabot
- Craig Christensen
- Jessica Galbraith
- David Gray
- Ken Gray
- Mike Hall
- Matt Ng
- Ruth Peach
- Laurie Ross
- Patrick Tutty
CWLS Luncheon Talk, November 23, 2016
"Geophysics: Maximizing Corporate Value During Low Commodity Prices"
John L. J. Duhault, P. Geoph.,
Principal Geoscience Consultant, Starbird Enterprises Inc.
Vice President: Canadian Society of Exploration Geophysicists (CSEG)
It is now in the second half of 2016, Brexit is now in motion, and we are once again caught in the tangled web of the oil and gas commodity cycle. How do you plan your capital expenditures and maximize the value or your corporate assets in a low commodity market? What G and G (Geology and Geophysics) costs are appropriate for your unconventional resource, oil sands or conventional property? In Newendorp’s (1975) book on Decision Analysis, he notably describes the choice to set aside geophysical information as the “gamble” path to oil and gas development. Do you “gamble” and not use available geoscience tools, or, do you apply a specific set of applications to increase the economic success on the projects you are accountable for? This presentation will provide you with grounded examples that will illustrate the business value of integrated geophysics through case histories.
In each case study the operator had an unique problem or situation that needed to be addressed on one of their corporate assets. Applying specific geophysical techniques integrated into the geology and engineering data helped to improve the financial metrics of their respective companies. (i.e. Recycle ratio, ROCE, NPV). By methodically loading the development dice with geophysical information, the integrated project teams were more successful than the “gamble” alternative. This resulted in increased capitally efficient drilling and completing operations as well as improved type curves and other production metrics.
From the project engineer or petrophysicist point of view, each of these case histories, from unconventional, oil sands and conventional reservoirs, will illustrate that there is value in integrating geophysics into the project workflows and the corporate business plan.
John L.J. Duhault, P.Geoph. Mr. Duhault is a “hunter finder mentor” and a 3G specialist (Geology, Geophysics, Geomechanics), who graduated in 1979 with a Bachelor of Science in Geological Engineering from the University of Manitoba and has over 37 years of industry experience including over 47,000 hours of interpretation experience in Canada and overseas. He has worked for, consulted to, and found oil and gas for integrated senior and intermediate producers (Chevron, CS, Lightstream, Pengrowth, and Canadian Hunter) and numerous junior independents. He founded and led two private juniors (Dragonheart Energy and Dragonheart Resources) and is currently the Principal Geoscience Consultant for Starbird Enterprises specializing in exploration seismic, microseismic and induced seismicity interpretation. Mr. Duhault has presented papers for the CSEG, SEG, CSUR and ASEC on geophysical interpretation, reservoir characterization, microseismic, hydraulic fracturing and induced seismicity. He won Best CSEG Recorder paper in 2012 focusing on Cardium Microseismic interpretation. He was Co-Chair of the CSPG's 2015 Gussow Conference and is currently Vice President/President Elect for the CSEG and past Chair of the CSEG’s Value of Integrated Geophysics Committee. Mr. Duhault is a member of CSEG, SEG, CSPG, APEGA, and SPE.
CSEG Doodletrain Course
Application of Applied Geophysics in the Oil and Gas Business
Instructor: John Duhault
Date: Nov. 2, 2016
Duration: 1 day
Members (early bird/price): CAD$ 400/500 (plus GST)
Non-members (early bird/price): CAD$ 450/550 (plus GST)
Time: 8:30 am to 4:30 pm
This course is concerned with the effective use of geophysical methods to solve business problems. Advanced geophysical techniques are discussed and debated at a high level, but in the context of the end problem and the potential value that the techniques may bring. Logic, or critical thinking, is applied to geophysical methodology to enable the student to formulate more effective approaches to industrial problems. The course also covers aspects of Decision Analysis as they relate to oil and gas and to the use of geophysical data. The second half of the course is dominated by a variety of case studies, chosen specifically to highlight value oriented geophysical thinking. Group exercises are included throughout the course to reinforce the content and challenge the students to think of geophysics in a different, business oriented, way.