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Of the Austin Chalk SE Make Better Decisions Offshore Eastern Canada New GeoStreamer 3D Data Available Now Torngat GeoStreamer 3D: 3 653 sq. km Available Now License Round: 2021 North Tablelands GeoStreamer 3D: 4 475 sq. km Available Now License Round: 2020 Jeanne d’Arc GeoStreamer HD3D: 4 989 sq. km Available Now Expanding Newfoundland and Labrador Data Library GeoStreamer broadband data for reliable structural interpretation, seismic attributes, and rock property analysis. Make block evaluations with confi dence for license rounds in eastern Canada. Contact us to book a data show: [email protected] A Clearer Image | www.pgs.com/Canada In partnership with AUGUST 2020 EXPLORER.AAPG.org By RICK FRITZ 3 Our Suspicions, President’s Column Mathematically Confirmed n our first meeting this year, your in conjunction with the Gulf Coast new Executive Committee discussed The primary reason I am discussing money in this Association of Geoscience Societies Ithree key areas of immediate focus: GeoGulf hybrid (virtual plus face-to- science, membership issues and the column is to let you know changes are coming. We face) meeting in Lafayette, La. Our goal budget. I’m going to talk about each in is to make this a real experience for my next three columns, but I am starting cannot afford to do everything we have done in the past. participants, not just another Zoom backwards with the budget, as it is the meeting, and I hope you will join us. most pressing area of concern. These two virtual conferences, URTeC My goal in this column is to write about “the annual Budget Review.” I once heard remind them about dues and ask if they and ACE2020, will give us the data points how AAPG is faring financially during the that a budget is a mathematical way to need support with graduated dues. we need to know if we can meet the industry downturn. In doing so, I want confirm your suspicions. That’s usually The reality is that the bulk of AAPG budget this year. We are still planning to make sure you understand I do not true. Last year we were looking at a income – about 65 percent – is derived for a face-to-face ACE meeting next elevate the importance of AAPG financial significant surplus, until the pandemic hit from conferences and meetings. AAPG year in Denver, if we can do it safely. It is needs over the impact the COVID-19 virus and now we expect a significant loss. We and sister society staffs are very efficient important for us to protect our members, and related economic downturn is having are “suspicious” of future revenue. In fact, at running these programs but, as you so it will most likely be a face-to-face on society – on you. AAPG members are looking forward into the next fiscal year know, all major meetings were canceled meeting with a virtual component. suffering from many economic issues, (starting July 1 this year until June 30, or postponed this year. These include key Finally, as the saying goes, “We such as loss of job, underemployment, 2021), we expect to have an approximate revenue-generating conferences like the cannot cut our way to success,” so we career anxiety and retirement worries. 40-percent decrease in annual revenue. Offshore Technology Conference, GEO in also are evaluating new revenue ideas More troubling is that many suffer from That’s a big hit that your Executive Bahrain, and, of course, AAPG’s annual for the Association, both short-term and critical issues like health, prejudice and Committee will deal with this new fiscal meeting. In addition, many of the section long-term. If you have any great ideas for loneliness. Again, our thoughts and year. AAPG does have an emergency fund: and region meetings were canceled or revenue growth, please let us know. prayers go out to those who are hurting through the good management of the postponed as well. So, this is my column on the budget. during these times, especially those who AAPG Investment Committee and staff As Shaq once said, “I’m tired of hearing have lost loved ones. we have a savings account roughly equal Adapting Through Virtual Events about money, money, money, money, A few members ask me, “Why does to our current annual expenses. Plus, money. I just want to play the game, drink the Executive Committee worry so much the AAPG Foundation supports many So now we are working to survive Pepsi, and wear Reebok.” I understand. about money all the time?” programs, such as the Distinguished financially and even grow in a virtual I promise future columns will be more Well, actually we prefer to focus Lecturer, Visiting Geologist, Grants-in-Aid, world. One benefit of this new model is interesting and more fun. on science and members’ needs, but etc. In addition, companies and vendors that we are reaching both members and Thank you in advance for supporting as Woody Allen once said about the support many programs like the Imperial non-members around the world with these new online meetings. We will try importance of money, “It is better than Barrel Award, the annual meetings like the online luncheons and webinars. As I am to get back to face-to-face as soon as poverty, if only for financial reasons.” The Annual Convention and Exhibition and the writing, the first virtual Unconventional possible but in the meantime we will primary reason I am discussing money International Conference and Exhibition, Resources Technology Conference just become the best virtual society possible. in this column is to let you know changes the EXPLORER, etc. but that support is concluded. The new virtual registration for It’s an exciting time to build a new are coming. We cannot afford to do lessened as companies deal with their own this conference was $350, with lower rates AAPG with new opportunities for everything we have done in the past. budget crises. The reality is we must make for one-day passes and students. We have members. Some programs will be reduced or cut. major changes to avoid major deficits. met the original targets for registration and Thank you for your patience. Thank We will let you know as this happens. So what do we do? sponsorship and many of the speakers you for your support. So how do we determine how much Dues account for 15 percent of agreed to give virtual talks. So, we have our money we need? Each April and May, the budget. As you can imagine, dues first financial test of the year. the current treasurer and the incoming payments are down, so we are asking We also just announced the president and treasurer meet with the the House of Delegates Membership postponed AAPG 2020 meeting staff and “worry” about money. It’s called Committee to contact members and will be held virtually Sept. 29-Oct. 1 STAFF TABLE OF CONTENTS REGULAR DEPARTMENTS Field Camp Managing Editor The Perils of Prediction: In a time like this, Geophysical Corner .................................. 18 Page 24 Brian Ervin making predictions about the oil and gas [email protected] 04 industry is not only impossible, but flirting Historical Highlights ................................. 20 with danger, analysts say. Art Direction/Production Matt Randolph Foundation Update ................................... 26 [email protected] Source of Confusion: Chances are, 06 you’ve been thinking about source rocks Classified Ads ............................................ 28 Graphics Support all wrong. Trent Farar Director’s Corner ....................................... 30 The Ortoire Syncline represents the largest gas Advertising Coordinators Companies A-K 08 discovery in Trinidad’s history. Divisions Report (EMD) ........................... 30 Mike Taylor 1-918-630-5672 Field Camp Without the Field: With social [email protected] 24 distancing and travel restrictions resulting Cenozoic deformation of the Cretaceous synrift deposits Companies L-Z from the COVID-19 pandemic, distance Tracy Thompson learning is becoming the “new normal.” of the Salta Rift in northwest 1-918-560-9414 Argentina, a focus area of [email protected] the Andean Basins Virtual ON THE Research Symposium in COVER: CORRESPONDENTS Aug. 20-21. See page 16. David Brown Barry Friedman Emily Smith Llinás Ken Milam EXPLORER.AAPG.org Heather Saucier The AAPG EXPLORER (ISSN 0195-2986) is published monthly for Members by the American Association of Petroleum Geologists, 1444 S. Boulder Ave., P.O. Box 979, Tulsa, Okla. 74101-3604, 1-918-584-2555. email address: [email protected]. Periodicals Postage Paid at Tulsa, OK and at additional mailing offices. POSTMASTER: Please send Volume 41 address changes to AAPG EXPLORER, P.O. Box 979, Tulsa, Okla. 74101. Canada Publication Agreement Number 40063731. Return undeliverable Canadian address to: Station A, P.O. Box 54 • Windsor, ON N9A 6J5 • email: [email protected]. Advertising rates: Contact Mike Taylor or Tracy Thompson, AAPG headquarters. Subscriptions: Contact Brian McBroom, AAPG headquarters. Unsolicited manuscripts, Number 8 photographs and videos must be accompanied by a stamped, self-addressed envelope to ensure return. The American Association of Petroleum Geologists (AAPG) does not endorse or recommend any products or services that may be cited, used or discussed in AAPG publications or in presentations at events associated with AAPG. Copyright 2020 by the American Association of Petroleum Geologists. All rights reserved. Note to Members: $6 of annual dues pays for one year’s subscription Aug 2020 to the EXPLORER. Airmail service for Members: $55. Subscription rates for non-members: $75 for 12 issues; add $72 for airmail service. 4 By DAVID BROWN, EXPLORER Correspondent EXPLORER AUGUST 2020 The Perils of Prediction in An Unprecedented Time xact predictions of the future have activity, but it’s uncertain how significantly always been close to impossible. For the long-term habits will change.
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