Is There A New Energy Norm- and If So How Do I Play the Game?
Speaker: Bob Fryklund, Chief Strategist Upstream, IHS Markit
May 13, 2019 | 11:30 am doors open
NEW LOCATION: Hyatt Hotel, Imperial Ballroom 5/7/9 | 700
Centre Street SE, Calgary AB T2G 5P6
Please note: The cut-off for ticket sales is 4:00pm, May 07, 2019
Online ticket sales has closed
2019 CSPG GeoConvention luncheon
As the energy transition progresses companies are faced with dealing with a very dynamic and volatile world with up and down commodity prices, changing geopolitical landscapes and major shifts in markets for which to plan.
As a result, companies are adjusting their strategies to be competitive for the future. Moreover, we are starting to see companies split into several camps— North American independents and global players (the majors and some national oil companies). But for both the priority is focus and short cycle projects which they can dial up and down capital spending as market conditions change. This has in turn lead to the rise of the specialist – companies who focus on one play or basin like the Permian, or one region like the North Sea.
But what about exploration? Exploration too is undergoing a reset. New venture exploration has tailed off with the total number of new field wildcats dropping below 500 for the last two years and continuing the deep decline since 2014. The result has been the lowest amount of oil discovered since 1952.
As a result, exploration is being re- defined, with a smaller and smaller group still participating in new venture exploration and the dominant group focusing on exploration in proven basins.
This has resulted in some remarkable growth in basins once thought as mature with some seeing reserves increase by 20- 30 times.
This talk will look at the two groups – who they are and what new strategies they are applying.
Bob Fryklund, Chief Upstream Strategist, Energy, IHS Markit, has over 38 years of industry experience focusing on global upstream strategic leadership and has advised on many of industries most revolutionary projects over the last two decades. He has held various executive leadership positions at both majors and leading independents. A recognized Thought Leader on upstream oil and gas, he frequently speaks at key industry meetings, such as the World Economic Forum, CERAWeek by IHS Markit, the Offshore Technology Conference, APLA, and the American Association of Petroleum Geologists Conference. He is also an established media consultant and source for both print and television. Mr. Fryklund serves or has served on several boards and executive committees, including the Association of Petroleum Geologists Advisory Board; the Independent Producers Association of America; the Brazilian Petroleum Institute; the International Energy Agency; the Libya-US Council, a bilateral trade association; and American School of Tripoli. Mr. Fryklund is a member of the Houston Geological Society and the American Association of Petroleum Geologists and has published numerous articles in three languages. Mr. Fryklund holds an AB from Hamilton College, has completed advanced studies at the University of Houston and the University of Tulsa, and holds an advanced certificate in management.