Goodbye 2018, Hello 2019, Oil prices volatile, EOR Distinguished Lecturer for January, WRM in San Jose this coming April.
Dear Friends and Members of SPE,
Happy New Year! This coming year should be interesting for the energy industry, but hopefully not too interesting. As I write this, oil prices are $47.24 per barrel. Over the last couple of months, we have seen a dramatic drop in prices from a high of $75 per barrel to under $50 per barrel. The price swings make it difficult for operators to make long term plans. So, we may be in for turbulent ride in 2019.
Speaking of turbulence, SPE Distinguished Lecturer Charles Pope gave an outstanding talk at our December Luncheon. Charles discussed the dynamics of coil tubing clean-outs in horizontal wells. The findings from his work were counter intuitive. Doing what is against “conventional wisdom”, in our industry, often generates results that are a significant improvement to the status quo.
We have another Distinguished Lecturer visiting us this month. Our January 8th Luncheon speaker will be Gary Teletzke. Gary is the Senior Technical Advisor for Enhanced Oil Recovery at ExxonMobil Upstream Research Company. He will review the status of CO2 Enhanced Oil Recovery and geologic storage, focusing on subsurface lessons learned and their implications for large-scale CO2 capture and storage. It will be another interesting talk.
Looking forward, the Western Regional Meeting will be held in San Jose, California, April 22-25. Among the events at the Meeting will be the presenting of Regional SPE Awards. Nominations for these Awards will be in January and February. Please do nominate deserving fellow SPE members for the 2019 Awards.
I am looking forward to an exciting year. Help kick it off by joining us at the January 8th Luncheon at the Long Beach Petroleum Club.
SPE LA Basin Section Chair 2016-2017