Wednesday, 23 November 2016

Oil and Gas Exploration: A process

Oil and Gas exploration is undoubtedly imperative to companies large and small, whether they are in possession of a prospect or a lead. Oil and Gas exploration involves a great number of technical processes and an even larger amount of identification, risking and ranking processes, but this article hopes to provide an overview of what exactly is done in order to properly identify prospects into leads, and eventually assets.

Initially, an oil and gas exploration company will perform a series of exploration evaluations. These are varied and numerous, and generally involve subsurface evaluation in order to identify prospective resources, which of course will influence a companies’ decision of whether or not to drill. These evaluations can include basin analysis, seismic processing, seismic interpretation, application of regional geology, as well as Play and Fairway analysis of the prospect. This will properly identify a prospect, and all of the risks that go along with it.

Should your prospect turn into a lead, appraisal evaluation is implemented. This process is essentially the evaluation of seismic, well and test data which was gathered throughout the exploration evaluation stage. The collected data is assessed and interrogated to get the full picture of the prospect. Should said prospect become a lead, this data is then applied to the decision to either drill more wells, or develop the initial one. In the case of collected data showing the cost of doing so outweighs what can be extracted, the decision can then be taken to abandon the project and the prospect – saving a company (depending on the project) from $10m upwards to excess of $100m per drill. Needless to say, knowing what exactly a prospect is worth is imperative.

In the case of a lead turning into an asset, field development is started. This process generates plans for the maximum amount of hydrocarbon recovery, and commerciality. Your asset is developed, and reserves are quantified. The process for field development is varied, with each and every government having their own sets of rules and own levies in regard to this. An Oil and Gas exploration company will take care of it all, preparing and delivering proposals, and the approval process falls to them.

Ongoing operations support then characterises varying activities (which of course vary, depending on what is needed for the project in itself) which can include drilling infill and extension wells, as well as the ongoing adaptation of operations to properly take advantage of production response.
As you can see, oil and gas operation work is crucial to all finds, whether it is within an old resource or a brand new one.

Oil and gas exploration starts via de-risking a prospect, such as properly and accurately identifying what exactly is being dealt with, and evolves to management services which will allow you to get the most out of every drill. Finally, the oil and gas exploration process autonomies the project, ensuring that every aspect of it goes smoothly.

Thursday, 17 November 2016

New Research Shows Insects Don’t Like LED Lighting

LED lighting prevents insects
LED lighting is more than just an attractive lighting solution for home and commercial use – and it’s been getting some very good press recently.

Recent research which was undertaken by scientists within the University of Bristol has shown that LED lighting isn’t very attractive to insects – and this could be incredibly beneficial for us.

It appears that nuisance insects, such as biting midges and mosquitoes are much more attracted to traditional filament lamps than LEDs. They’ve hypothesized that this is likely due to filament lamps giving off heat whilst they’re on. Insects like mosquitoes use thermal cues to find unsuspecting warm hosts in the night – so having filament bulbs in or outside your home during the evening likely invites them in for a feast!

The study showed that LEDs attracted four times as few insects in comparison to the filament bulb. The statistics also revealed that only 2-3% of the 4,000 insects in the study favoured the LED lighting. This is a rather huge difference and it's likely more future research will experiment with LED lighting.

This is not only good news for those of us who are tired of waking up to a large quantity of very irritating bug bites during the summer – it could also reduce the spread of deadly diseases.

We’ve all heard of the Zika virus in the news. This often fatal disease is spread through mosquito bites – which if you’ve been to countries in warmer climates, are incredibly and unfortunately easy to obtain. Other fatal viruses carried by mosquitoes are malaria, yellow fever and dengue fever.

If LED lighting is used more frequently outside and inside of homes, fewer mosquitoes carrying deadly viruses will be attracted to them. LED strip lights can be used throughout the home, and are often very customisable with the colouring. For outdoor use, LED rope lights could be used to colourfully light your garden, as well as deterring those pesky biting insects.

This is also a great result for the environment and our pockets, as LED lights have incredible energy saving properties.

Friday, 11 November 2016

Myths Debunked: LED Lighting Is Expensive

LED Lighting is probably one of the biggest and best inventions of the 21st century, even if technically very much of its development was a 20th Century type affair. The latter stages of LED Lighting’s development – the refinement, the transformation from a pipe dream came in the 21st Century, in very recent years. Nowadays, LED Rope Lights and LED Strip Lights are a very common sight to see.

LED Lighting now is far more affordable than what it ever was when it first hit the public in the 20th  Century thanks to power manufacturers such as Panasonic, Sony, and OSRAM being insightful enough to view this technology as the future and thus investing their own funds into development and manufacture. As such, they lifted the LED Lighting Industry from Concept to a very real product.

It’s been a bumpy ride.

In the electronics industry it’s very well known that when something is brand new it’s often prohibitively expensive – as quite simply put, the manufacture route simply isn’t there.
In the case of new inventions, specialist machines have to be designed, constructed and built to be able to cope with producing large volumes of said product every single day, as well as quality procedures have to be established – not to mention sourcing materials and such.

There’s a lot of trial and error involved within the first stages of absolutely anything, and to purchase something immediately is known as being on the “bleeding edge”. Aptly named, this term is a step above “cutting edge” and as the name would imply, is often pretty painful – at least in regard to pricing for the consumer and investment from companies.

Hypothetically, should something not pay off (Does anyone remember the ill-fated minidisc from Sony?) it can be absolutely devastating to a company, but the rewards are gigantic for companies that invest in the right thing. As such, manufacturers are enjoying the fact that LED Lighting (in an unstable global market nonetheless, where estimates are extremely conservative) has shot up in a massive fashion since 2015, from $25bn to $30.5bn in 2016.

What does that mean for the consumer?

It means that LED Lighting is cheaper than ever for you and me, and some very real savings can be made now the risk of LED Lighting is no longer apparent to companies – and they can lower their prices thanks to increased supply, manufacture, and more importantly, competition now the way has been paved.

Monday, 7 November 2016

Coloured Inversion With InSeis

For all users of Petrel or IHS Kingdom Seismic and Geological Interpretation Software, there’s always been a rather big question. When it comes to Seismic Inversion, there’s many ways in order to work your original reflectivity data from an interface property to a rock property (impedance – sonic velocity and bulk density multiplied.)

Structural interpretation of course relies very much of this data, as of course an inverted dataset your values are describing internal rock property – with different values indicating what exactly is beneath via lithology type, porosity or even fluid type within the rocks. When it comes to vital stratigraphic interpretation and reservoir characterisation, velocity modelling is absolutely needed even if it’s garnered itself for being frustrating.

It isn’t as if velocity modelling is difficult, just arduous. By its nature it is a very simple process compared to everything else – but annoyingly slow to complete and far less accurate than most.
It’s generally considered that coloured inversion is the global standard of velocity modelling – and it doesn’t have to be taxing should you have the right tools. London based Equipoise Software’s InSeis, for example. This handy little tool can be added on to either Petrel or IHS Kingdom Seismic and Geological Interpretation Software, which will give you more accurate results, and a much faster workflow.

Faster Results, and Accuracy
InSeis is a pretty special little tool, which is lightweight enough to not be detrimental to the time velocity modelling takes, but interesting via the fact that it’s packed full of features to make you work faster, but in a better way that will give you more accuracy overall. A fun little feature with InSeis, compared to it’s competitors, is the amount of development that’s gone into it and just who it’s from. InSeis is the product of Equipoise Software, and has been created partially through their partnership with ERCE, who are the United Kingdom’s leading employee-owned Oil and Gas Reservoir Evaluation firm.

Having access to all of ERCEs data throughout the years has inspired Equipoise Software to create Velit and InSeis, two add ons that have the power and the functionality of full programs in their own right. These little tools are absolutely invaluable to firms that want to work smarter, not harder with their data.