DOCSLIB.ORG

Investor Presentation May 2018 Important Note Regarding Projections and Other Forward-Looking Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Presentation May 2018 Important Note Regarding Projections and Other Forward-Looking Statements Investor Presentation May 2018 Important Note Regarding Projections and Other Forward-Looking Statements Purpose of this Presentation: The material that follows is a presentation of general information about Vista Oil & Gas, S.A.B. de C.V. (BMV: VISTA) as of the date of this presentation, it is not illustrative of any transaction, and is distributed for information purposes only. The information contained herein is public, comes from public sources or is informative in nature. All material information in connection with Vista has been disclosed through the Mexican Stock Exchange and is available at www.bmv.com.mx or otherwise maintained by the Company in accordance with applicable law We are providing this presentation for informational purposes only. This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any securities. Specifically, this presentation does not constitute a placement prospectus (prospecto de colocación) or equivalent document. Proprietary Information: This presentation contains proprietary information. You may not copy it, excerpt it, summarize it or distribute it or any of its contents to any other person or entity, in whole or in part. Any person receiving this presentation, by the mere fact of such reception, acknowledges and agrees that it shall not copy, excerpt, summarize, or distribute it or any of its contents. Other Matters: This presentation does not constitute an agreement of any kind, or as legal, tax or investment advisory advice or of any other kind. You must consult your own advisors for any such advice. This presentation is not aimed at, or destined to be distributed or used by any person or entity that is a citizen or resident in any state, country or other jurisdiction in which its use or distribution are prohibited by law or where any additional registration or license is required. Neither the National Banking and Securities Commission (“CNBV”), nor any other authority have approved or disproved the information herein, as well as its accuracy or sufficiency. Forward-Looking Statements: This presentation contains forward-looking statements, including projections, estimates, targets and goals, information regarding potential operational results and descriptions of our business strategies, intentions and plans. Forward-looking statements may be identified by such words as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and other similar terms and expressions. Forward-looking statements are not historical facts. They are based on expectations, beliefs, forecasts and projections, as well as on beliefs by our management team, that, while made on a good faith basis, are inherently uncertain and beyond our control. Forward-looking statements that cover multiple future periods are, by their nature, more uncertain and subject to factors that could cause them to differ materially from actual results. Any such expectations, beliefs, forecasts and projections are made only as of the date of this presentation. We undertake no obligation to update any such information or any forward-looking statement made in this presentation after the date hereof. Forward-looking statements in this presentation may include, for example, our financial performance, changes in our reserves and operational results and our expansion opportunities and plans. Factors that could cause actual results to differ from any forward-looking statement include: (1) the occurrence of any event, change or other circumstances that could affect our business; (2) the outcome of any legal proceedings; (3) competition and our ability to grow and manage growth profitably; (4) changes in applicable laws or regulations; (5) the possibility that we may be adversely affected by other economic, business, and/or competitive factors; and (6) other additional risks and uncertainties, including the risk factors that we disclose in our filings with the CNBV and the Mexican Stock Exchange (Bolsa Mexicana de Valores, or “BMV”). We encourage you to read all such filings. Nothing in this presentation, and in particular, no projection or other forward-looking statement, should be construed as a guarantee of future performance, or as a prediction of actual results. Actual results may differ materially from the projections or other forward-looking statements contained in this presentation. Due to their inherently uncertain nature, you are cautioned not to rely on any such projections or forward-looking statements. We and our affiliates, advisors, agents and other representatives expressly disclaim any liability to you in connection with any undue reliance on the information contained in this presentation, and in particular with respect to any projections or other forward-looking statements. 1 Vista’s Company Overview Sizable and operated asset base Company Metrics(1) Concentrated in Argentina’s Premier Basin Revenues 2017E $445 MM ▪ Conventional assets with production base, infrastructure in place, and top- quality Vaca Muerta acreage ready for full scale development EBITDA 2017E $182 MM ▪ Six operating and one non-operating clusters in the Neuquina basin ▪ Two non-operated blocks in Noroeste and Golfo San Jorge basins Production 2017E 27.5 kboe/d Neuquina Basin Blocks(4) 1P Reserves(2) 55.7MMBoe Displayed Area Core Shale Oil Acreage ~54,000 acres Displayed Area Listed in Bolsa Mexicana de Valores: VISTA and VTW408A Entre Lomas (100% W.I) Total Shares Outstanding: 70.4 MM(5) Bajada del Palo (100% W.I) 25 de Mayo- th (3) Medanito 5 largest oil producer in Argentina (100% W.I.) Others 20% Coiron Amargo Jaguel de Norte (55% W.I) los Machos 3% (100% W.I.) 5% 45% 6% Vista Operated Coiron Amargo Vista Non-operated Sur Oeste 21% Unconventional (45% W.I.) Agua Amarga Oil Field (100% W.I) Gas Field (1) Based on Company information (2) Reserves as of December 31, 2016, based on Ministerio de Energía y Minería (Presidencia de la Nación). (3) Average 2017 production, based on Ministerio de Energía y Minería (Presidencia de la Nación (4) It does not depict the two non-operated blocks in Noroeste and Golfo San Jorge basins. (5) 70,409,315 Class A Shares and 2 Class C Shares. 2 Platform Poised for Growth Top quality assets well-fit for Vista Management Team ▪ High-quality, low-cost conventional proved reserves base – 55.7 Mmboe of 1P reserves (65% oil) with break-even price of $30/bbl(1) ▪ High-margin conventional production base – 27.5 Kboed (60% oil) with Premium EBITDA margin of 41%(2) Neuquina Basin ▪ Core Vaca Muerta shale oil acreage – 54,000 top-quality net acres located next Asset Base to ongoing shale developments and completed pilots (3) ▪ Operational cluster – Proximity of blocks and overlap of future Vaca Muerta development and current conventional operation is key to efficient fast-track development 5-year target Strong ▪ Conventional assets generate significant, low-risk cash flow – 2018E target ▪ Production: +65 Kboe/d Financial EBITDA of $190 MM(4) ~30% CAGR(8) Position ▪ Solid balance sheet – Net debt/EBITDA ratio of 0.7x(5) ▪ EBITDA: +$900 MM ~50% CAGR(8) ▪ Fully functional operating platform – ~180 employees and strong HSE track ▪ EBITDA +60% record(6) Margin: >20 p.p.(8) Actionable ▪ Discretionary and flexible timing of development plans – operated, mostly 100%- and owned assets with minimal capex commitments Profitable ▪ Operated infrastructure in place – initial development phase covered by existing Growth Plan treatment and transport spare capacity High-growth development plan, based on this premium asset ▪ Deep inventory of highly profitable Vaca Muerta drilling locations – 413 risked base. locations included in base plan (out of 1,100 potential locations)(7) Unique ▪ Credentials and organization leverageable for regional expansion – either Platform through acquisitions, joint-ventures or future licensing rounds Poised for ▪ Access to deal flow and strong BD pipeline of actionable opportunities – Regional focus on building an initial Mexico platform and complementary deals in Argentina Expansion (1) Based on a PV10 discounted cash flow project level valuation assuming $30/bbl flat in real terms and (5) Considers $260 MM debt under the backstop credit facility and completion of the sale of 5.5 million series A realized gas price of $4.6/mmbtu flat in real terms. shares for an aggregate amount of $55 MM pursuant to the FPA and an additional subscription agreement. (2) 2017 figures based on Company Information. (6) ISO 14001 and OSHAS 18001 certificates in place. (3) Offset operators, including YPF in partnership with Chevron and Petronas, Shell, and Wintershall (7) Resulting from additional landing zones. (4) At $63.8/bbl realized crude oil price. (8) Compared to 2018E numbers. 3 Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See “Important Note Regarding Projections and Other Forward-Looking Statements.” Key initiatives Path to near-term value creation Priorities Key Action Plan 1 Integrate acquired entities • Integrate operating teams and assets • Update reporting, management and operating systems 2 • Complete top-notch unconventional team by hiring basin specialists Launch development of • Begin drilling with one fit-for-purpose rig and complete four horizontal wells during the Vaca Muerta second half of 2018 • Tie-in first unconventional wells by early 2019 3 • Drill and complete
Load more

Recommended publications
  • Bivalvia, Late Jurassic) from South America
    Author's personal copy Pala¨ontol Z DOI 10.1007/s12542-016-0310-z RESEARCH PAPER Huncalotis, an enigmatic new pectinoid genus (Bivalvia, Late Jurassic) from South America 1 2 Susana E. Damborenea • He´ctor A. Leanza Received: 29 September 2015 / Accepted: 16 March 2016 Ó Pala¨ontologische Gesellschaft 2016 Abstract The extensive outcrops of the Late Jurassic– orientated at right angles to the shell margins. A few speci- Early Cretaceous Vaca Muerta Formation black shales and mens were found on the outside of large calcareous con- marls in the Neuque´n Basin have yielded very few bivalves, cretions within black shales; these are often articulated, and these are not well known. The material described here complete shells, which preserve the original convexity of the was collected in central Neuque´n, from late Tithonian cal- valves. In some cases these articulated shells seem to be careous levels within the black shales, between beds with associated with large ammonite shells, suggesting an epi- Substeueroceras sp. and with Argentiniceras noduliferum byssate (possibly also pseudoplanktonic) lifestyle. (Steuer). The material is referred to the new genus Huncalotis and to the new species H. millaini. The strongly Keywords Late Tithonian Á Neuque´n Basin Á Vaca inequivalve shells, the ligamental area with a triangular Muerta Formation Á Argentina Á Peru Á Bivalvia Á slightly prosocline resilifer, the right valve with ctenolium Pectinoidea Á Pectinidae and a very deep byssal notch, and the lack of radial orna- mentation make the shell of this new genus strikingly similar Kurzfassung Die reichlich zutage tretenden Schwarz- to the Triassic pectinid Pleuronectites.
    [Show full text]
  • Tetrápodos Jurásico-Cretácicos
    TETRÁPODOS JURÁSICO-CRETÁCICOS Asociación Paleontológica Argentina. Publicación Especial 11 ISSN 0328-347X Ameghiniana 50º aniversario: 125-136. Buenos Aires, 25-11-2007 Reptiles marinos jurásicos y cretácicos de la Patagonia argentina: su aporte al conocimiento de la herpetofauna mesozoica Zulma GASPARINI*, Marta FERNÁNDEZ, Marcelo de la FUENTE y Leonardo SALGADO Abstract. The history of the knowledge of the different groups of Mesozoic marine reptiles of Patagonia can be divided into two major periods: the first one from the end of the XIX century up to 1940, during which the findings were scarce and few taxa are currently valid. The second, from the 1940’s to date. The biogeographic patterns of the marine reptiles during most of the Mesozoic could be analysed on the basis of systematic studies of the Patagonian records. One of the most outstanding paleogeographic events of the Jurassic was the dismembering of Pangea, which gave place to the Caribbean Corridor connecting, probably intermittently, the Western Tethys with the Eastern Pacific. The close affinities between the Jurassic marine reptiles of Argentina and Chile with those of Europe suggest that such corridor would have been one of the routes used by the marine reptiles for their dispersion. Thus, the middle Jurassic forms of Patagonia and Chile belong to genera recorded also in Europe (Metriorhynchus, Stenopterygius, cf. Muraenosarus and cf. Cryptoclidus), or to taxa with close phylogenetic relationships (Maresaurus, Mollesaurus). This is also seen in most of the genera of the Late Jurassic (Ophthalmosaurus, Aegirosaurus, Metriorhynchus, Geosaurus, Dakosaurus, Liopleurodon, Pliosaurus). Likewise, the finding of plesiosaurs and mosasaurs of the end of the Cretaceous in Patagonia arose a new context for the discussion of the biogeo- graphic, distribution of these predators in Southern Gondwana.
    [Show full text]
  • Vaca Muerta Shale Basin Argentina
    Vaca Muerta Shale Basin Argentina Sectors: Oil and Gas Extraction, Pipeline Transportation of Crude Oil, Pipeline Transportation of Natural Gas Active This profile is actively maintained Send feedback on this profile By: BankTrack Created on: Feb 17 2020 Last update: Jan 12 2021 Contact: [email protected] Project website Status Planning Design Agreement Construction Operation Closure Decommission Sectors Oil and Gas Extraction, Pipeline Transportation of Crude Oil, Pipeline Transportation of Natural Gas Location Status Planning Design Agreement Construction Operation Closure Decommission Website https://www.ypf.com/Vacamuertachallenge/Paginas/index.html About Vaca Muerta Shale Basin According to the US Energy Information Agency, Argentina has the second-largest shale gas reserves and fourth-largest shale oil reserves in the world. The country's shale gas reserves alone would account for 11.4% of the world’s remaining 1.5°C carbon budget if exploited to its maximum. Nearly all of these reserves are located in the Neuquén Basin in Northern Patagonia. The Vaca Muerta Shale Basin is located in the Neuquén Basin. It has been identified as the largest shale play outside North America. The megaproject entails extraction from the area’s enormous shale oil and gas reserves, as well as building associated infrastructure such as pipelines and LNG terminals. The deposit extends over 30,000 square kilometres and represents 43% of Argentina's total oil production and 60% of its gas production. Initially, this basin was supposed to contribute towards energy self-sufficiency, but recently, the export potential of the region has been realised and more attention is being paid towards exports.
    [Show full text]
  • Watershed Implications of Shale Oil and Gas Production in Vaca Muerta, Argentina
    Watershed implications of shale oil and gas production in Vaca Muerta, Argentina SEI working paper April 2021 Laura Forni1 Marina Mautner1,3 Angela Lavado4 Kathleen Fitzpatrick Burke2 Romina Diaz Gomez3 1 SEI 2 Stockholm School of Economics 3 University of California, Davis 4 Consultant Stockholm Environment Institute Linnégatan 87D 115 23 Stockholm, Sweden Tel: +46 8 30 80 44 www.sei.org Author contact: Laura Forni [email protected] Editor: Emily Yehle Layout: Richard Clay Cover photo: Extraction of unconventional oil, Vaca Muerta, Argentina © Cristian Martin / Getty This publication may be reproduced in whole or in part and in any form for educational or non-profit purposes, without special permission from the copyright holder(s) provided acknowledgement of the source is made. No use of this publication may be made for resale or other commercial purpose, without the written permission of the copyright holder(s). Copyright © April 2021 by Stockholm Environment Institute Stockholm Environment Institute is an international non-profit research and policy organization that tackles environment and development challenges. We connect science and decision-making to develop solutions for a sustainable future for all. Our approach is highly collaborative: stakeholder involvement is at the heart of our efforts to build capacity, strengthen institutions, and equip partners for the long term. Our work spans climate, water, air, and land-use issues, and integrates evidence and perspectives on governance, the economy, gender and human health. Across our eight centres in Europe, Asia, Africa and the Americas, we engage with policy processes, development action and business practice throughout the world. Acknowledgments: We would like to thank our project partners and the stakeholders who participated in interviews to clarify certain aspects of the literature.
    [Show full text]
  • Petroleum Systems of the Vaca Muerta (Tithonian) Formation
    Petroleum Systems Charged by the Vaca Muerta (Tithonian) Formation: Neuquén Basin, Argentina WAVREK1, D.A., M.E. LARA2, G.A. LAFFITTE3, S. DEL VO3, J.W. COLLISTER1, J.C. QUICK1, R.B. ALLEN1, D.M. JARVIE4 and H.E. HOLLOWELL5 1E.S.R.I., University of Utah, Salt Lake City, UT 2Lagoven S.A., Caracas, Venezuela 3Y.P.F. S.A., Buenos Aires, Argentina 4H.I.&S., Humble, TX 5Westvaco Resources, Summerville, SC Tithonian (Upper Jurassic) source rock sequences are responsible for a significant volume of petroleum reserves on a global basis. This research defines the petroleum systems within the Neuquén basin that are charged from the Tithonian Vaca Muerta Formation; a unit deposited in a low angle ramp setting that is characterized in seismic and geochemical terms to contain three distinct organic facies. The oil types that correlate to the different organic facies are used to define effective migration pathways. The results indicate that the distal condensed sections are volumetrically significant but physical constraints related to hydrocarbon expulsion and migration contribute to decreased system efficiency. In contrast, the hydrocarbon potential of the shelfal condensed sections have less volumetric significance but exhibit higher efficiency due to the shorter distance required for fracture propagation (i.e., related to the expulsion event) and the effective juxtaposition of migration conduits and/or potential reservoirs. For example, expulsion of hydrocarbons into the underlying Kimmeridgian incised valleys along the Añelo Trough provide a regional migration pathway, whereas expulsion from the top of the unit provides a direct charge into sequences interpreted to represent detached lowstand fans.
    [Show full text]
  • Maquetación 1
    Año 2015 - Volumen 15(1): 20-30 VOLUMEN TEMÁTICO ISSN 2469-0228 OPHTHALMOSAURIDS (ICHTHYOSAURIA: THUNNOSAURIA): ALPHA TAXONOMY, CLADES AND NAMES MARTA S. FERNÁNDEZ 1, 2 AND LISANDRO CAMPOS 2 1CONICET. 2División Paleontología Vertebrados, Museo de La Plata, Universidad Nacional de La Plata, Paseo del Bosque s/n, B1900FWA La Plata, Argentina. [email protected] ; [email protected] Abstract . Thunnosaurian ichthyosaurs represent the paradigm of reptilian body designed for a pelagic life style. Most derived thunnosaurian, the ophthalmosaurids, have been traditionally considered as members of a declining lineage. New findings and the re-examination of histori - cal collections radically changed our conceptions about them. Opthalmosaurids were ecologically more diverse than previously thought. The past few decades have seen an increase of nominal species spurred by new findings and analyses. A still unresolved problem is that many species are only known by their holotypes. Nevertheless, morphological disparity is a compelling argument for considering them as valid. All recent cladistic analyses of ichthyosaurs recover ophthalmosaurids as a clade. Neither the addition of new information nor the addition of new enti ties resulted in its collapse. On this basis, the assignment of Linnaean rank to this clade (Ophtalmosauridae) is reasonable as it satisfied the primary recommended criteria for taxa naming: monophyly and stability. As the lists of species and genus names are used as input in major data bases for interpreting major turnover and/or extinction patterns, efforts must be focused on clarifying as much as possible the alpha tax onomy. Two major pending issues are the delimitation of Ophthalmosaurus -Baptanodon, and Platypterygius .
    [Show full text]
  • Reptiles Marinos Jurásicos DE LA CUENCA NEUQUINA
    FUNDACIÓN YPF | UNRN REPTILES MARINOS JURÁSICOS DE LA Marianella Talevi1 CUENCA NEUQUINA y Marta Fernández2 Introducción este tercer período se inician también estudios paleoe- cológicos y paleobiológicos de estos reptiles marinos, La historia de los estudios sobre reptiles marinos pa- principalmente de ictiosaurios y cocodrilos marinos ju- tagónicos puede dividirse en tres períodos. El primero rásicos de la cuenca Neuquina (Fernández y Gasparini, comienza a fines de siglo XIX y se extiende hasta finales 2000, 2008; Fernández y Herrera, 2009; Fernández et al., de la década de 1930. En esta etapa el estudio se basó 2005, Fernández y Talevi 2013; Talevi y Fernández, 2012, en restos fragmentarios de dudosa procedencia estrati- Talevi et al. 2012; Herrera et al. 2013 a, 2013 b, 2013 c). gráfica, hallados fortuitamente y no como resultado de una búsqueda dirigida específicamente a esos repti- les. Durante este período se destacan los trabajos de Definición de reptiles marinos Ameghino (1893), Dames (1893), Phillipi (1895), Weaver (1938) y Cabrera (1939). El segundo período comienza Los reptiles marinos no constituyen un grupo monofi- hacia fines de la década de 1930, en la cual se produjo lético, es decir, estos reptiles no tienen un ancestro una búsqueda sistematizada de estos reptiles, lo que común reciente y, por lo tanto, el nombre se utiliza de permitió establecer la importancia de los yacimientos manera informal para incluir cualquier reptil capaz marinos jurásicos de la cuenca Neuquina, principal- de crecer y alimentarse en un entorno marino (Hua y mente gracias a los aportes de Rusconi (1938, 1940, Buffetaut, 1997). Durante el Jurásico, tres linajes se 1942, 1948a, 1948b 1949).
    [Show full text]
  • Assessment of Continuous Oil and Gas Resources in the Neuquén Basin Province, Argentina, 2016
    National and Global Petroleum Assessment Assessment of Continuous Oil and Gas Resources in the Neuquén Basin Province, Argentina, 2016 Using a geology-based assessment methodology, the U.S. Geological Survey assessed undiscovered, technically recoverable mean continuous resources of 14.4 billion barrels of oil and 38 trillion cubic feet of gas in the Neuquén Basin Province, Argentina. Introduction –72° –71° –70° –69° –68° –67° –66° The U.S. Geological Survey (USGS) assessed San Fernando the potential for undiscovered, technically recoverable continuous (unconventional) oil and gas resources –35° within the Neuquén Basin Province, Argentina (figs. 1–3). As defined by the USGS, the province Talca encompasses the basin (or “embayment”), the plat- form in the eastern part of the province, and the fold –36° belt in the western part of the province. This study ARGENTINA estimated potential volumes of undiscovered continu- CHILE ous oil and gas in three petroleum source rocks that occur in the basin and in the fold belt: the Jurassic ( Los Molles Formation, the Jurassic–Early Cretaceous –37° Vaca Muerta Formation, and the Early Cretaceous Agrio Formation. The USGS defined a Los Molles Total Petroleum System (TPS), a Vaca Muerta TPS, CEROOS and an Agrio TPS, following similar published –38° COLORADOS ( RESERVOIR definitions of these systems (Urien and Zambrano, 1994; Legarreta and Villar, 2015). Twelve continuous resource assessment units (AUs) were defined within Temuco Neuquén –39° ( these three TPSs (table 1). ( U ( RESERVOIR Geologic Model for Assessment Three main assumptions underlie the geologic –40° model that forms the foundation of this assessment. Source: U.S. Department of the Interior National Park Service 0 75 MILES First, some portion of the oil and gas generated in each GUY 0 75 KILOMETERS VEN SUR of the three source rocks was retained within each COL GUF ECU source rock interval and constitutes potentially recover- EXPLANATION PER BRA Los Molles Embayment Continuous Oil AU U able oil or gas.
    [Show full text]
  • The Case of the Vaca Muerta Play, Argentina
    Integrated Geology of Unconventionals: The Case of the Vaca Muerta Play, Argentina AAPG Memoir 121 Edited by Daniel Minisini, Manuel Fantín, Iván Lanusse Noguera, and Héctor A.Leanza Published by The American Association of Petroleum Geologists (AAPG) Tulsa, Oklahoma USA Printed in the USA 14269_fm_ptg01_i-viii.indd 1 11/20/20 10:26 AM Copyright © 2020 By The American Association of Petroleum Geologists All Rights Reserved ISBN: 9780891814269 AAPG grants permission for a single photocopy of an item from this publication for personal use. Authorization for additional photocopies of items from this publication in any form (hard copy, digital/electronic scanning, or other digital transformation into computer readable and/or transmittable form) for personal or corporate use is granted provided the appropriate fees are paid directly to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, Massachusetts 01923, http://www.copyright.com. For circumstances occurring outside the authorization of Copyright Clearance Center, contact [email protected]. AAPG Editor: Dr. Robert J. Merrill AAPG Technical Publications Managing Editor: Beverly K. Molyneux On the Cover: FRONT: Outcrop of the Vaca Muerta Formation showing the typical organic-rich facies and stratigraphy, analogs of the subsurface landing zones (outcrop is ca. 20 3 60 m). BACK: Seismic section along the entire Neuquén Basin showing the clinoforms of the Vaca Muerta-Quintuco systems, 230 km long, 900 m thick (modified from Sattler, F., R. F. Domínguez, M. Fantín, P. Desjardins, H. Reijenstein, A. Bande, M. Borgnia, F. González-Tomassini, F. Vittore, E. Fenstein, D. Kietzmann, and D. Marchal, 2018, Enclosure 1: Regional cross-section A-A’, in G.
    [Show full text]
  • Vaca Muerta: from Source to Reservoir
    VOL. 16, NO. 4 – 2019 GEOSCIENCE & TECHNOLOGY EXPLAINED geoexpro.com GEOEDUCATION From Outcrop to Seismic HISTORY OF OIL – and Back Vaca Muerta: From Source to Reservoir TECHNOLOGY EXPLAINED Virtual Drilling EXPLORATION South Atlantic: The Bigger Picture INDUSTRY ISSUES Digital Solutions Across the Energy Value Chain Revealing Subsurface Potential with PGS FWI 3.5km PGS Full Waveform Inversion uses back scattered seismic energy, to build high-resolution velocity models at greater depths. This enables better inversions for robust ranking 4.0km and more reliable derisking of prospects. 4.5km Read more: www.pgs.com/FWI Previous issues: www.geoexpro.com Contents Vol. 16 No. 4 This edition of GEO ExPro focuses on South America and Deepwater GEOSCIENCE & TECHNOLOGY EXPLAINED Exploration; Interpretation Software; the Energy Transition. k 5 Editorial The enigmatic Cretaceous 6 Regional Update lacustrine carbonate reservoirs of offshore Brazil. 8 Licensing Update 10 A Minute to Read 14 Cover Story: History of Oil: Vaca Muerta – How a Source x Became a Reservoir What role should the oil 18 Hot Spot: Latin America: industry take in the transition to From Shallow Shelf to Deepwater a zero-carbon energy system? 20 Seismic Foldout: Deepwater Santos Basin 26 Technology Explained: v The Future of Exploration EVOLVE: developing 28 Exploration: The Pre-Salt Reservoirs the fearless explorers of the South Atlantic of the future. 32 Industry Issues: The Oil Industry and Public Perception SEG 34 GEO Education: Evolving the Future Workforce P Trinidad’s La Brea 38 Industry Issues: Digital Solutions tar pit, the largest Across the Energy Value Chain tar pit in the world.
    [Show full text]
  • Estudios Estratégicos Para El Desarrollo Territorial De La Región Vaca Muerta Segunda Etapa
    PROGRAMA DE FORTALECIMIENTO INSTITUCIONAL DE LA SUBSECRETARÍA DE PLANIFICACIÓN TERRITORIAL DE LA INVERSIÓN PÚBLICA ESTUDIOS ESTRATÉGICOS PARA EL DESARROLLO TERRITORIAL DE LA REGIÓN VACA MUERTA SEGUNDA ETAPA INFORME FINAL – TOMO 1 NOVIEMBRE 2015 Estudios Estratégicos para el Desarrollo Territorial de la Región Vaca Muerta. Segunda Etapa- Informe Final Esta publicación es resultado de los trabajos realizados dentro de los Estudios Estratégicos para el Desarrollo Territorial de la Región Vaca Muerta ‐financiados por CAF, Banco de Desarrollo de América Latina‐ en el marco del Programa de Fortalecimiento Institucional de la Subsecretaría de Planificación Territorial de la Inversión Pública. Estudios Estratégicos para el Desarrollo Territorial de la Región Vaca Muerta. Segunda Etapa- Informe Final AUTORIDADES NACIONALES Subsecretaria de Planificación Territorial de la Inversión Pública de la Nación Arq. Graciela Oporto Directora Nacional de Planificación Estratégica Territorial de la Nación Arq. Marta Aguilar Dirección Estudios Estratégicos para el Desarrollo Territorial de la Región Vaca Muerta – Segunda Etapa Comisión Regional Norpatagónica AUTORIDADES PROVINCIALES Director de Planificación para el Desarrollo Territorial - Provincia de La Pampa CPN. Fabio Grandón Presidente de la Agencia de Ordenamiento Territorial - Provincia de Mendoza Arq. Sonia Romero Subsecretario de Planificación y Acción para el Desarrollo - COPADE - Provincia de Neuquén Lic. Sebastián González Secretaria de Planificación - Provincia de Río Negro Arq. Laura Perilli SUBSECRETARÍA DE PLANIFICACIÓN TERRITORIAL DE LA INVERSIÓN PÚBLICA Secretaría permanente COFEPLAN Dr. Luis Balestri Estudios Estratégicos para el Desarrollo Territorial de la Región Vaca Muerta. Segunda Etapa- Informe Final EQUIPO DE TRABAJO Representantes Técnicos de la Comisión Subsecretaría de Planificación Territorial Regional Norpatagónica de la Inversión Pública Dirección de Planificación para el Coordinación Interinstitucional Desarrollo Territorial - Provincia de La Arq.
    [Show full text]
  • Extinction of Fish-Shaped Marine Reptiles Associated with Reduced
    ARTICLE Received 12 Aug 2015 | Accepted 22 Jan 2016 | Published 8 Mar 2016 DOI: 10.1038/ncomms10825 OPEN Extinction of fish-shaped marine reptiles associated with reduced evolutionary rates and global environmental volatility Valentin Fischer1,2, Nathalie Bardet3, Roger B.J. Benson1, Maxim S. Arkhangelsky4,5 & Matt Friedman1 Despite their profound adaptations to the aquatic realm and their apparent success throughout the Triassic and the Jurassic, ichthyosaurs became extinct roughly 30 million years before the end-Cretaceous mass extinction. Current hypotheses for this early demise involve relatively minor biotic events, but are at odds with recent understanding of the ichthyosaur fossil record. Here, we show that ichthyosaurs maintained high but diminishing richness and disparity throughout the Early Cretaceous. The last ichthyosaurs are characterized by reduced rates of origination and phenotypic evolution and their elevated extinction rates correlate with increased environmental volatility. In addition, we find that ichthyosaurs suffered from a profound Early Cenomanian extinction that reduced their ecological diversity, likely contributing to their final extinction at the end of the Cenomanian. Our results support a growing body of evidence revealing that global environmental change resulted in a major, temporally staggered turnover event that profoundly reorganized marine ecosystems during the Cenomanian. 1 Department of Earth Sciences, University of Oxford, South Parks Road, OX1 3AN Oxford, UK. 2 Department of Geology, University of Lie`ge, 14 Alle´e du 6 Aouˆt, 4000 Lie`ge, Belgium. 3 De´partement Histoire de la Terre, Muse´um National d’Histoire Naturelle, Sorbonne Universite´s, CR2P CNRS-MNHN-UPMC Paris 6, CP 38, 8 rue Buffon, 75005 Paris, France.
    [Show full text]