All of us who work in oil and gas feel the press of massive disruptions affecting our industry. An increasingly hostile – or at best skeptical – public is demanding an energy system at odds with the energy system as we know it.
As an oil and gas leader, you feel enormous pressure to seize this moment – not just to survive, but to find a path to unequivocal success for your company and the world. To lead a thriving energy industry into an inclusive future that embraces the disruptions we now face. But how?
The Gamechanger’s Playbook is written for you – oil and gas leaders – both to make sense of this moment and to help chart your leadership path ahead. In a world of continuous disruption, this book is your key to becoming a disruptor – the game-changing leader who anticipates the future and sets its agenda.
Let’s go build the energy future.
Responding to the latest developments in rock physics research, this popular reference book has been thoroughly updated while retaining its comprehensive coverage of the fundamental theory, concepts, and laboratory results. It brings together the vast literature from the field to address the relationships between geophysical observations and the underlying physical properties of Earth materials - including water, hydrocarbons, gases, minerals, rocks, ice, magma and methane hydrates. This third edition includes expanded coverage of topics such as effective medium models, viscoelasticity, attenuation, anisotropy, electrical-elastic cross relations, and highlights applications in unconventional reservoirs. Appendices have been enhanced with new materials and properties, while worked examples (supplemented by online datasets and MATLAB® codes) enable readers to implement the workflows and models in practice. This significantly revised edition will continue to be the go-to reference for students and researchers interested in rock physics, near-surface geophysics, seismology, and professionals in the oil and gas industries.
Natural gas is the second most significant fuel for power generation around the world, but it trails the leader, coal, by a significant margin. Coal-fired power has underpinned economic growth in major emerging markets and still plays an important role in developed countries like the United States, Germany, Japan, and Australia. However, continued reliance on coal carries a high price in smog and greenhouse gases. In his new book COAL (Polity Press, 2019), Dr. Mark Thurber explains why cleaner alternatives to traditional coal combustion—including natural gas, nuclear, renewable energy, and “clean coal”—have yet to make a major dent in coal use in China, India, and other developing economies. (Thurber is the associate director of Stanford's Program on Energy and Sustainable Development as well as co-leader of NGI's focus area on global markets, pricing, and governance.)
As Thurber discusses in the book, natural gas faces two major challenges vis-a-vis coal. The first is cost competitiveness. The shale gas revolution has made gas cost-competitive in North America, but gas remains more expensive than coal in most of the world. Fuller incorporation of environmental factors — both local air pollution and greenhouse gas emissions — into energy markets could help bridge this cost gap. The second challenge is that the gas value chain can be difficult to stitch together. The high cost of gas transportation infrastructure, including pipelines and LNG, means it will only be built if there is a creditworthy end customer willing to pay high-enough prices for gas over a long period of time. But potential customers are unlikely to build out gas-using applications until they are certain that gas will reliably be available. Policymakers interested in carving out a larger role for gas must find ways to ease this value chain coordination problem, especially in countries with limited existing infrastructure for gas transportation and use.
Since the beginning of the US shale gas revolution in 2005, the development of unconventional oil and gas resources has gathered tremendous pace around the world. This book provides a comprehensive overview of the key geologic, geophysical, and engineering principles that govern the development of unconventional reservoirs. The book begins with a detailed characterization of unconventional reservoir rocks: their composition and microstructure, mechanical properties, and the processes controlling fault slip and fluid flow. A discussion of geomechanical principles follows, including the state of stress, pore pressure, and the importance of fractures and faults. After reviewing the fundamentals of horizontal drilling, multi-stage hydraulic fracturing, and stimulation of slip on pre-existing faults, the key factors impacting hydrocarbon production are explored. The final chapters cover environmental impacts and how to mitigate hazards associated with induced seismicity. This text provides an essential overview for students, researchers, and industry professionals interested in unconventional reservoirs.
Bayesianism is currently one of the leading ways of scientific thinking. Due to its novelty, the paradigm still has many interpretations, in particular with regard to the notion of “prior distribution”. In this chapter, Bayesianism is introduced within the historical context of the evolving notions of scientific reasoning such as inductionism, deductions, falsificationism and paradigms. From these notions, the current use of Bayesianism in the geosciences is elaborated from the viewpoint of uncertainty quantification, which has considerable relevance to practical applications of geosciences such as in oil/gas, groundwater, geothermal energy or contamination. The chapter concludes with some future perspectives on building realistic prior distributions for such applications.
Under the Earth’s surface is a rich array of geological resources, many with potential use to humankind. However, extracting and harnessing them comes with enormous uncertainties, high costs, and considerable risks. The valuation of subsurface resources involves assessing discordant factors to produce a decision model that is functional and sustainable. This volume provides real-world examples relating to oilfields, geothermal systems, contaminated sites, and aquifer recharge.
Gathering the right kind and the right amount of information is crucial for any decision-making process. This book presents a unified framework for assessing the value of potential data gathering schemes by integrating spatial modelling and decision analysis, with a focus on the Earth sciences.