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Modeling Non Newtonian Fluid Invasion Into Reservoir Rocks
Proceedings of COBEM 2005 20th International Congress of Mechanical Engineering Copyright © 2009 by ABCM November 15-20, 2009, Gramado, RS, Brazil MODELING NON NEWTONIAN FLUID INVASION INTO RESERVOIR ROCKS Alex Tadeu de Almeida Waldmann PETROBRAS- Cidade Universitária, Q7 – Ilha do Fundão – Prédio 20 – Sala 1017 – RJ - CEP: 21941-598 [email protected] Cristiano Dannenhauer ESSS – Rua Lauro Müller, 116 – Torre do Rio Sul – 14º Andar, sala 1404 - Botafogo [email protected] Alex Rodrigues de Andrade BAKER HUGHES - Rua Maria Francisca Borges Rêgo Rei, 363, Macaé - RJ, CEP: 27933-260 [email protected] Idvard Pires Jr. BAKER HUGHES - Rua Maria Francisca Borges Rêgo Rei, 363, Macaé - RJ, CEP: 27933-260 [email protected] Andre Leibsohn Martins PETROBRAS- Cidade Universitária, Q7 – Ilha do Fundão – Prédio 20 – Sala 1017 – RJ - CEP: 21941-598 [email protected] Abstract. Minimizing fluid invasion is a major issue while drilling reservoir rocks. Large invasion may create several problems in sampling reservoir fluids in exploratory wells. Unreliable sampling may lead to wrong reservoir evaluation and, in critical cases, to wrong decisions concerning reservoir exploitability. Besides, drilling fluid invasion may also provoke irreversible reservoir damage, reducing its initial and /or its long term productivity (Ladva et al., 2000). Such problem can be critical in heavy oil reservoirs, where oil and filtrate interaction can generate stable emulsions. Invasion in light oil reservoir is less critical due to its good mobility properties. Other critical scenario is the low permeability gas reservoirs where imbibition effects may result in deep invasion. A common practice in the industry is the addition of bridging agents, such as calcium carbonates in the drilling fluid composition. -
Seismic Reflections
9 December 2011 Seismic reflections Listening out for the Falklands jungle drums Interest in Falklands oil exploration has dwindled during 2011 as investors limit exposure to the frontier region. However, with Rockhopper nearing the end of its extended Sea Lion appraisal campaign, a second discovery having been confirmed in the shape of Casper, and most critically the Leiv Eiriksson drilling rig coming over the horizon to start drilling in the South Falklands Basin, we expect interest to pick up significantly in the new year. Enthusiasm may not reach the peaks of 2010’s hysteria, but the region continues to offer some of the cheapest proven oil in the ground along with Analysts excellent upside for the frontier exploration investor. Ian McLelland +44 (0)20 3077 5756 Colin McEnery +44 (0)20 3077 5731 Press coverage dries up Peter J Dupont +44 (0)20 3077 5741 Elaine Reynolds +44 (0)20 3077 5700 Column inches during 2010 became as inflated as valuations when Rockhopper Krisztina Kovacs +44 (0)20 3077 5700 bagged its maiden discovery at Sea Lion. However, more recently front page [email protected] spreads have been replaced with only the briefest of mentions. Indeed, confirmation 130 last month of a second discovery in the shape of Casper was greeted in one 120 110 leading trade journal with a paltry one inch of text and 36 words. 100 90 Investors take flight 80 Despite the almost heroic efforts of Rockhopper to fully appraise its Sea Lion 70 prospect, with eight appraisal wells almost all on prognosis and two flow tests Jul/11 Apr/11 Oct/11 Jan/11 Jun/11 Feb/11 Mar/11 Aug/11 Nov/11 Dec/10 Sep/11 May/11 Brent WTI driving resource estimates up to 389mmbbls, the interest in the North Falklands Basin has continued to wane. -
Hardy Oil and Gas Plc Introduction to the Official List
Hardy Oil and Gas plc Introduction to the Official List Official the to Introduction plc Gas and Oil Hardy Hardy Oil and Gas plc Hardy Oil and Gas plc Hardy Oil and Gas plc Lincoln House 137-143 Hammersmith Road London W14 0QL Introduction to the Official List Tel: +44 (0) 20 7471 9850 Fax: +44 (0) 20 7471 9851 Sponsor and Broker www.hardyoil.com Hardy OilArden Partners plc and Gas plc This document comprises a prospectus relating to Hardy Oil and Gas plc prepared in accordance with the Prospectus Rules of the UK Listing Authority made under section 73A of the Financial Services and Markets Act 2000. Application has been made to the UK Listing Authority and to the London Stock Exchange respectively for admission of all of the Ordinary Shares to: (i) the Official List; and (ii) the London Stock Exchange’s market for listed securities. No application has been made or is currently intended to be made for the Ordinary Shares to be admitted to listing or dealt with on any other exchange. It is expected that Admission will become effective and that dealings on the London Stock Exchange in the Ordinary Shares will commence on 20 February 2008 (International Security Identification Number: GB00B09MB366). Upon Admission, the admission of the Company’s Ordinary Shares to trading on AIM will be cancelled. This document has not been, and does not need to be, approved by the Isle of Man Financial Supervision Commission, or any governmental or regulatory authority in or of the Isle of Man. The Ordinary Shares have not been, and will not be, registered under the US Securities Act or under the securities laws of any state, district or other jurisdiction of the United States, or of Canada, Japan or Australia, or any other jurisdiction and no regulatory clearances in respect of the Ordinary Shares have been, or will be, applied for in any jurisdiction other than the UK. -
Seismic Reflections | 5 August 2011
1 | Edison Investment Research | Seismic reflections | 5 August 2011 Seismic reflections Confidence in Kurdistan grows Iraq, including the autonomous Kurdistan region, probably has the world’s largest concentration of untapped, easily recoverable oil reserves. Pioneering moves were made into Kurdistan in the 2000s by the likes of Gulf Keystone and Hunt Oil, with considerable drill-bit success. In late July, two important Kurdistan exploration and development deals were announced. These involve Afren acquiring interests in two PSCs with sizeable contingent reserves and a Hess-Petroceltic partnership signing two PSCs for exploration purposes. With increasing production and Analysts improving relations between the regional and Iraqi federal governments, Ian McLelland +44 (0)20 3077 5756 these deals reflect growing confidence in Kurdistan’s potential as a major Peter J Dupont +44 (0)20 3077 5741 new petroleum province. Elaine Reynolds +44 (0)20 3077 5700 Krisztina Kovacs +44 (0)20 3077 5700 Anatomy of the Kurdistan oil province [email protected] 6,000 Kurdistan is located in the North Arabian basin and is on same fairway as the 5,500 prolific oilfields of Saudi Arabia’s Eastern Province, Kuwait, southern Iraq and Syria. 5,000 4,500 The geological backdrop to Kurdistan tends to be simple and is characterised by 4,000 3,500 large anticlinal structures, deep organic-rich sediments and carbonate reservoirs 3,000 mainly of Jurassic to Cretaceous age. Drilling commenced in the region in 2006. So far, 28 wells have been drilled, of which 20 have been discoveries, resulting in A pr/11 Oct/10 Jun/11 Fe b/11 Aug/10 Dec/10 Aug/11 estimated reserves of over 5.8bn boe. -
Openair@RGU the Open Access Institutional Repository at Robert Gordon University
OpenAIR@RGU The Open Access Institutional Repository at Robert Gordon University http://openair.rgu.ac.uk Citation Details Citation for the version of the work held in ‘OpenAIR@RGU’: SANUSI, M. S., 2015. Market efficiency, volatility behaviour and asset pricing analysis of the oil & gas companies quoted on the London Stock Exchange. Available from OpenAIR@RGU. [online]. Available from: http://openair.rgu.ac.uk Copyright Items in ‘OpenAIR@RGU’, Robert Gordon University Open Access Institutional Repository, are protected by copyright and intellectual property law. If you believe that any material held in ‘OpenAIR@RGU’ infringes copyright, please contact [email protected] with details. The item will be removed from the repository while the claim is investigated. MARKET EFFICIENCY, VOLATILITY BEHAVIOUR AND ASSET PRICING ANALYSIS OF THE OIL & GAS COMPANIES QUOTED ON THE LONDON STOCK EXCHANGE Muhammad Surajo Sanusi A thesis submitted in partial fulfilment of the requirements of the Robert Gordon University for the degree of Doctor of Philosophy June 2015 i Abstract This research assessed market efficiency, volatility behaviour, asset pricing, and oil price risk exposure of the oil and gas companies quoted on the London Stock Exchange with the aim of providing fresh evidence on the pricing dynamics in this sector. In market efficiency analysis, efficient market hypothesis (EMH) and random walk hypothesis were tested using a mix of statistical tools such as Autocorrelation Function, Ljung-Box Q-Statistics, Runs Test, Variance Ratio Test, and BDS test for independence. To confirm the results from these parametric and non-parametric tools, technical trading and filter rules, and moving average based rules were also employed to assess the possibility of making abnormal profit from the stocks under study. -
Arden Partners
Quarterly Research Outlook April 2019 UK Equity Research www.arden-partners.com Arden Partners Arden Partners is a research-led firm, offering The relationship with Pershing Securities institutional, agency, broking services Limited, which acts as settlement agent for principally in small and mid-cap. stocks Arden Partners, enables the group to provide together with corporate finance advice to this significant transaction capacity. sector of the stockmarket. Sector coverage includes many of the areas The business was founded in 2002, rapidly associated with the team and a number of new establishing a strong record for its research and business sectors. The focus is predominantly, distribution capabilities. This enabled Arden but not exclusively, on the small and mid- Partners to establish a robust financial record capitalisation constituents of the stockmarket enabling the business to join the AIM market in under £1.5bn market cap. 2006 (ARDN.L). Our analysis is built on in-depth research, which The group is firmly focused on providing values close relationships with the uncompromising analysis, sound advice and management teams of our research fair deals for both corporate and institutional companies, thereby providing added value clients. With a strong balance sheet and a investment perspectives to our fund manager flexible cost base, the business is able to build client base. on its long-term strategic goals. This research material is a marketing communication and has not been prepared in accordance with legal requirements designed to promote the independence of research and is not subject to any legal prohibition on dealing ahead of dissemination. 11 April 2019 Welcome to Arden’s Quarterly Research Outlook for Spring 2019 We’re just over three months in to 2019 and we’ve seen a 10% UK market rally, retracing much of the Q4 decline, such is the nature of fickle market sentiment. -
COMPETENT PERSON's REPORT Prepared for HARDY OIL and GAS
GCA GAFFNEY, CLINE & ASSOCIATES COMPETENT PERSON’S REPORT Prepared for HARDY OIL AND GAS PLC APRIL, 2010 The Americas Europe, Africa, FSU Asia Pacific and the Middle East 1360 Post Oak Blvd., Bentley Hall, Blacknest 80 Anson Road Suite 2500 Alton, Hampshire 31-01C IBM Towers Houston, Texas 77056 United Kingdom GU34 4PU Singapore 079907 Tel: +1 713 850 9955 Tel: +44 1420 525366 Tel: +65 225 6951 Fax: +1 713 850-9966 Fax: +44 1420 525367 Fax: +65 224 0842 email: [email protected] email: [email protected] email: [email protected] and at Caracas – Rio de Janeiro – Buenos Aires – Sydney www.gaffney-cline.com Hardy Oil and Gas plc. Copy No. E2291 GCA GAFFNEY, CLINE & ASSOCIATES Page No. INTRODUCTION ................................................................................................................................. 1 SUMMARY ............................................................................................................................................... 4 DISCUSSION .......................................................................................................................................... 13 1. INDIA ......................................................................................................................................... 13 1.1 Cauvery Basin ............................................................................................................ 13 1.1.1 PY-3 Field (Hardy NWI 18%)............................................................... 14 1.1.2 Block CY-OS/2 (Hardy -
Companies Involved in Oilfield Services from Wikipedia, the Free Encyclopedia
Companies Involved in Oilfield Services From Wikipedia, the free encyclopedia Diversified Oilfield Services Companies These companies deal in a wide range of oilfield services, allowing them access to markets ranging from seismic imaging to deep water oil exploration. Schlumberger Halliburton Baker Weatherford International Oilfield Equipment Companies These companies build rigs and supply hardware for rig upgrades and oilfield operations. Yantai Jereh Petroleum Equipment&Technologies Co., Ltd. National-Oilwell Varco FMC Technologies Cameron Corporation Weir SPM Oil & Gas Zhongman Petroleum & Natural Gas Corpration LappinTech LLC Dresser-Rand Group Inc. Oilfield Services Disposal Companies These companies provide saltwater disposal and transportation services for Oil & Gas.. Frontier Oilfield Services Inc. (FOSI) Oil Exploration and Production Services Contractors These companies deal in seismic imaging technology for oil and gas exploration. ION Geophysical Corporation CGG Veritas Brigham Exploration Company OYO Geospace These firms contract drilling rigs to oil and gas companies for both exploration and production. Transocean Diamond Offshore Drilling Noble Hercules Offshore Parker Drilling Company Pride International ENSCO International Atwood Oceanics Union Drilling Nabors Industries Grey Wolf Pioneer Drilling Co Patterson-UTI Energy Helmerich & Payne Rowan Companies Oil and Gas Pipeline Companies These companies build onshore pipelines to transport oil and gas between cities, states, and countries. -
1 Modelling Oil and Gas Stock Returns Using Multi Factor Asset Pricing
Modelling oil and gas stock returns using multi factor asset pricing model including oil price exposure Abstract Oil and gas is one of the most important sectors in every economy and the valuation of oil and gas companies becomes quite challenging due to the volatility of crude oil price. The paper investigates the determinants of the UK oil and gas stock returns using multi factor asset pricing model and the existence of asymmetric effects in the Brent crude oil price. Our results show that market risk, oil price risk, size and book-to-market related factors are all relevant in the determination of asset returns of the oil and gas companies quoted on the London stock exchange. Oil price increases and decreases decomposed separately have more effect on the oil companies’ stock returns than the normal log changes of the price which shows the presence of asymmetric effect. However, the oil price shocks in general do not seem to strongly affect stock returns in oil and gas sector possibly due to horizontal and vertical integration of bigger companies in the sector. Keywords: asset pricing models, Brent crude oil, asymmetry in oil price, size effect, book to market ratio, oil and gas sector, oil price exposure, structural breaks. JEL Classification Codes: G12 1 1. Introduction One of the biggest challenges in the field of finance is how to effectively model the risk and return of financial securities. Researchers have formulated various asset pricing models that tend to explain the determinants of asset returns. Markowitz’s (1952) mean-variance analysis provides the foundations of portfolio optimisation. -
Orosur Mining Inc 2016
ANNUAL INFORMATION FORM FOR THE YEAR ENDED MAY 31, 2016 AUGUST 31, 2016 TABLE OF CONTENTS ITEM 1 PRELIMINARY NOTES .............................................................................................................. 3 ITEM 2 CORPORATE STRUCTURE ...................................................................................................... 5 2.1 Name, Address and Incorporation ................................................................................. 6 2.2 Intercorporate Relationships ......................................................................................... 6 ITEM 3 GENERAL DEVELOPMENT OF BUSINESS ............................................................................... 7 3.1 Business Overview ....................................................................................................... 7 3.2 Summary of the Business ............................................................................................. 7 3.3 Three Year History........................................................................................................ 8 3.4 Significant Acquisition ................................................................................................. 11 3.5 Significant Dispositions ............................................................................................... 12 ITEM 4 DESCRIPTION OF THE BUSINESS ......................................................................................... 12 4.1 General ..................................................................................................................... -
Energy and Security Cooperation in Asia Challenges and Prospects
!"#$%&'(")'*#+,$-.&' /001#$(.-0"'-"'23-(' /4(55#"%#3'(")'6$031#+.3' !)-.#)'7&' /4$-3.014#$'8#"' 259-"'/4#:' Energy and Security Cooperation in Asia Challenges and Prospects Christopher Len Alvin Chew Editors Institute for Security and Development Policy Västra Finnbodavägen 2, 13130 Stockholm-Nacka, Sweden www.isdp.eu Energy and Security Cooperation in Asia: Challenges and Prospects is a Monograph published by the Institute for Security and Development Policy. Monographs provide comprehensive analyses of key issues presented by leading experts. The Institute is based in Stockholm, Sweden, and cooperates closely with research centers worldwide. Through its Silk Road Studies Program, the Institute runs a joint Transatlantic Research and Policy Center with the Central Asia-Caucasus Institute of Johns Hopkins Universi- ty’s School of Advanced International Studies. The Institute is firmly established as a leading research and policy center, serving a large and diverse community of analysts, scholars, policy-watchers, business leaders, and journalists. It is at the forefront of re- search on issues of conflict, security, and development. Through its applied research, publications, research cooperation, public lectures, and seminars, it functions as a focal point for academic, policy, and public discussion. This publication is kindly made possible by support from the Swedish Ministry for For- eign Affairs. The opinions and conclusions expressed are those of the author/s and do not necessarily reflect the views of the Institute for Security and Development Policy or its sponsors. © Institute for Security and Development Policy, 2009 ISBN: 978-91-85937-59-2 Printed in Singapore Cover Photo Credit: Data courtesy of Marc Imhoff of NASA GSFC and Christopher El- vidge of NOAA NGDC. -
Experimental Study of Formation Damage During Underbalanced-Drilling in Naturally Fractured Formations
Energies 2011, 4, 1728-1747; doi:10.3390/en4101728 OPEN ACCESS energies ISSN 1996-1073 www.mdpi.com/journal/energies Review Experimental Study of Formation Damage during Underbalanced-Drilling in Naturally Fractured Formations Siroos Salimi 1,* and Ali Ghalambor 2 1 Norwegian University of Science and Technology (NTNU)/N-7491, Trondheim, Norway 2 Oil Center Research International, Louisiana/P.O. Box 44408 Lafayette, LA 70504, USA; E-Mail: [email protected] * Author to whom correspondence should be addressed; E-Mail: [email protected]; Tel.: +47-48124949; Fax: +47-73944472. Received: 2 June 2011; in revised form: 1 September 2011 / Accepted: 17 October 2011 / Published: 24 October 2011 Abstract: This paper describes an experimental investigation of formation damage in a fractured carbonate core sample under underbalanced drilling (UBD) conditions. A major portion of this study has concentrated on problems which are often associated with UBD and the development of a detailed protocol for proper design and execution of an UBD program. Formation damage effects, which may occur even if the underbalanced pressure condition is maintained 100% of the time during drilling operation, have been studied. One major concern for formation damage during UBD operations is the loss of the under- balanced pressure condition. Hence, it becomes vital to evaluate the sensitivity of the formation to the effect of an overbalanced pulse situation. The paper investigates the effect of short pulse overbalance pressure during underbalanced conditions in a fractured chalk core sample. Special core tests using a specially designed core holder are conducted on the subject reservoir core. Both overbalance and underbalanced tests were conducted with four UBD drilling fluids.