San Joaquin Valley SPE Section General Section Meeting

Marginal Fields How to Maximize Profit and Minimize Risk

An Extra 45 Minutes Can Provide
a World of Knowledge

Monday, September 9th @ 11:30 AM         

Petroleum Club, 12th Floor
5060 California Ave, Bakersfield 

Speaker:  John Pringle, Distinguished Lecturer

Reservations:  RSVP by Sept. 3rd to avoid walk-in payments

Pay Online:  Online Payment Link

Or Email Guillaume Moog at gmoog@sentinelpeakresources.com


Marginal Fields How to Maximize Profit and Minimize Risk

Many offshore oil fields have been discovered which at the time of discovery were considered too small for further appraisal or development and were relinquished. Today some of these discoveries offer great opportunities for fast track and highly profitable developments. To be successful however, risks need to be mitigated. Often with marginal fields, the data required to prepare Field Development Plans is incomplete, for example, lack of production testing, delineation wells and identification of fluid contacts. Compound this with lower in place volumes than pre-drill prognosis makes further appraisal hard to justify. This presentation shows how risks can be mitigated by developing clusters of fields using standardized Mobile Production Units and Storage Tankers, reprocessing seismic data, drilling horizontal wells and applying artificial lift. It tells the story of how a $2.2 billion company was created in a relatively short time by developing fields discovered and relinquished by others.

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