Julie Garvin, President of Roxanna Oil, was invited to speak at the Dallas SIPES, Oklahoma City Geological Society, and Tulsa Geological Society luncheons in October and November, 2015. She will also be presenting her talk, entitled, “The Search for New Exploration Plays: When Only the Best will Do” at the Houston Geological Society on January 27, 2016.
Thanks to all that attended and the very positive feedback.
Over the past decade, there has been a rapid evolution of plays that have benefited from efficiencies in horizontal drilling, beginning with shale gas, later to shale oil and tight oil plays, and today, even conventional reservoirs. As explorationists, we have used our understanding of these technology advancements by developing new plays that were either overlooked or underdeveloped, but can be economic with improved recoveries.
With oil prices hovering at $40, our understanding of both the geology and the economic drivers to commercial projects are critical in finding the very best areas to invest. Early entry into the “sweet spots” of these plays is an important economic driver, thus the ability to quickly screen and execute leasing in the best areas of the plays is a key element of our strategy. We will examine some of our company’s criteria and analytical approaches for exploring for new plays, with examples from our New Albany and Woodford shale plays, our Paradox Basin and Las Animas Arch tight carbonate play, and a horizontal development of a conventional carbonate oil field.