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Dear Colleagues,

Happy New Year! The year has started with prices volatile as competing factors push and pull oil and gas in different directions.

Although renewable lending topped hydrocarbon lending for the first time, spending is cautiously increasing to improve existing infrastructure to allow steady increases in output. Regardless, we will have to see how the fight plays out in California against the fossil fuel industry with plans to tax excessive profits.

Technology continues to improve our understanding of reservoirs, including mature reservoirs, and allows us to incorporate more data into modeling. Some examples include the following:

• A three-way coupled modeling approach integrates dynamic, geochemistry, and geomechanics models
• Industry leaders are harnessing the power of data to improve efficiencies, eliminate nonproductive time, and reduce Capex
• Satellite imaging is helping the Oil & Gas industry clean up the supply chain, starting with super emitters

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