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Oilfield Business - 101

Oilfield Business - 101. An overview of the Oilfield Industry Anu Kuehn 08/10/2009. Fun facts. US Oil industry – 75% natural gas and 25% Oil 8,000 companies with $80B combined revenue Half of these companies have <5 employees Fragmented industry Onshore and Offshore operations

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Oilfield Business - 101

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  1. Oilfield Business - 101 An overview of the Oilfield Industry Anu Kuehn 08/10/2009

  2. Fun facts • US Oil industry – 75% natural gas and 25% Oil • 8,000 companies with $80B combined revenue • Half of these companies have <5 employees • Fragmented industry • Onshore and Offshore operations • Long process, Long time • Capital inten$ive – Drilling 35% industry revenue • Ever changing Government Rules and Regulations • Demand driven activities • Technology plays major role

  3. Oilfield Sectors • Upstream • Exploration • Drilling • Cementing • Completion • Production • Downstream • Refining and Processing • Distribution and Marketing

  4. Exploration • Surface geographical studies • Data collections from public records • Geophysical Surveys • Magnetic, electromagnetic, gravity,, seismic • Reservoir Development tools • Driller’s logs, cores and cuttings, wireline logs, formation test data, and basin Modeling • Exploratory wells • Many uncertainties and costly • Lack of success can cost from $5M to $20M

  5. Off shore Seismic Acquisition

  6. Cross section of a Reservoir Y y Oil drops in grains of sand Gas Oil Water Microscopic view Fossils

  7. Drilling

  8. Drilling Process • Prepare the drill site • Rigging up/moving the rig and related equipment • Drilling the surface hole • Pump drilling mud/fluids • Consists of water, clay, special minerals and chemicals • Cools and lubricates the drill bit

  9. Drilling Process • Running surface casing (large steel pipe) • Cementing • Well control • Control formation pressure • Prevent blow outs

  10. Spindle Top Blow out, 1901

  11. Drilling Process • Drilling to final depth • Evaluate formations/ decision making • Setting production casing • Additives • Corrosion control • Filtrate control • Lubricants • Thinners • Viscosifiers • Surfactants • Deflocculants • Dispersants • Defoamers • Shale stabilizers

  12. Cementing

  13. Cementing • Portland cement • Objectives • To seal the annulus after a casing string has been run • To seal a lost circulation zone • To set a plug in an existing well • To plug a well for abandonment • Cementing Additives • Fluid loss and gas migration additives • Cement retarders (increases thickening time) • Cement extenders(to decrease the density) • Accelarators, Dispersants and other special chemicals

  14. Well Completion • Method used is determined • The characterstics of the reservoir • Its economical potential • Methods • Open-hole, perforated, tubingless • Drilling equipment is removed • Install the wellhead • Seal off the well with safety valves and flow control devices • Completion fluids • Facilitates final operations before production • Solids free Packer fluid inhibitors

  15. Production Christmas tree Christmas tree Oilwell head Pump Jacks

  16. Production Methods • Influential factors • Underground pressure, oil/gas ratio, characteristics of rock, viscosity of oil • Primary Recovery • Jed Clampett style • Artificial lift (gas or pumps) • Secondary Recovery • Acidizing • Corrosion Inhibitors, surfactants • Extenders, intensifiers, retarders • Hydraulic Fracturing • Friction Reducers, gelling agents, Proppants, breakers, biocides, clay control, surfactants

  17. Production Methods • Tertiary Recovery • Chemical flooding • Polymer • Surfactant-Polymer • Alkaline • Gas injection • CO2 • Nitrogen • Natural Gas • Water flooding • Thermal Recovery • Steam drive • Steam soak • In situ combustion

  18. Production Methods • Enhanced Oil Recovery • Original Oil In Place • High water cut • New investments • Methods similar to tertiary recovery • Well servicing and Workover • Part replacement • Cleanout operations • Well bore clean-up chemicals • Paraffin Inhibitors, Asphaltene Inhibitors • Sand control

  19. Major Players in the Industry • Oil Companies (Operators) • MNOCs – ExxonMobil, Shell • NOCs – Petrobras, CNOC • Independents – Anadarko, Devon • Service Companies • Full service, Single service, global and regional • Chemical Companies • Specialty and Commodity suppliers

  20. Supply Chain

  21. Conclusion • Overview of Oilfield industry • Upstream activities • Additives • Major players and their suppliers • Questions/Comments • Email: Akuehn@harcros.com • Cell#: 281-705-9562

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