The E&P companies that use science are going to be the surviving companies: Demshur
Core Lab’s Chairman and CEO David Demshur spoke to Oil & Gas 360®’s Angie Austin at the EnerCom conference in Denver last week. Demshur talked about his company, what their E&P customers are doing, what companies he believes will survive at $40 oil, and what he believes is going to drive the industry forward.
Source: Core Lab
Core Laboratories (ticker: CLB) is a leading provider of proprietary and patented reservoir description, production enhancement, and reservoir management services to the global oil and gas industry. The Company has 70 offices in more than 50 countries and operates in every major oil-producing region in the world. Core Lab was founded 80 years ago in Dallas, Texas.
Interview Questions
- David, you’ve personally worked alongside E&P companies for three decades or more—in a lot of different price cycles. What’s different this time? What is the industry learning from this cycle?
- What do you think the companies who survive and the ones that succeed through this downturn will have in common? Let’s take shale producers: what will the successful 21st Century, post-OPEC, independent shale developer look like in the years to come?
- Core references the growing importance to operators of understanding the properties of their reservoir fluids. How does a Core Lab analysis of reservoir fluids help an operator boost EUR from a well? What data do you give an operator that they take back and use to get more oil or gas out of a formation?
- Could you talk about Core’s refrac technologies—what are they, and how do they alter the decline curves?
- Last month the USGS came out with data from a study it conducted in the Indian Ocean with Japan and India. The conclusion: Gas Locked in Hydrate Formations May Exceed all Known Supplies: USGS. What are hydrate formations, and have any of Core Lab’s scientists studied how to produce gas from them? Could hydrate gas production be the next shale boom?
Core Lab’s Breakout Notes from the 2016 EnerCom conference are available here.
You can listen to Core Laboratories’ 2016 EnerCom presentation/webcast here.
For the company’s second quarter results, click here.
Core Lab’s downloadable quarterly analytics profile by EnerCom is available here.
