Questions with Answers)
1)Consumption
2)Production
3)Inventories
4)Spare Production Capacity
5)Geopolitical Risks
6)Market Variables - ✔✔List the variables that move oil prices in order
Reservoir Engineer - ✔✔Work to optimize production of oil and gas via proper well placement,
production rates, and enhanced oil recovery techniques (asset managers)
Drill Engineers - ✔✔Manage technical aspects of drilling exploratory, production and injection
wells (poking hole in ground)
Production Engineers - ✔✔Include subsurface engineers, manage interface between reservoir
and well, including perforations, sand control, downhole flow control, downhole monitoring
equipment; evaluate artificial lift methods; and also select surface equipment that separates the
produced fluids (oil, natural gas, water)
Well Log Analysts - ✔✔Evaluates the well to determine the ability of the borehole to produce
petroleum (petrophysicists)
Effective Porosity - ✔✔The interconnected pore volume or void space in a rock that
contributes to fluid flow or permeability in a reservoir. This excludes isolated pores and pore
volume occupied by water adsorbed on clay minerals or other grains.
Total Porosity - ✔✔The total void space in the rock whether or not it contributes to fluid flow.
, Organic Theory - ✔✔Petroleum was formed from the remains of plants and animals
Inorganic Theory - ✔✔Petroleum is either left over from the formation of the solar system or
was formed later deep within the earth when hydrogen and carbon came together as a result of
heat and pressure on minerals
Gas Cap - ✔✔This will be present in a reservoir if the reservoir oil is below it's bubble point at
the time of discovery
Porosity - ✔✔Percentage of void space in a rock
Pore Space Volume/ Total Volume - ✔✔Equation for Porosity
Permeability - ✔✔The ability of a reservoir to permit the flow of fluids
Permeability and OOIP - ✔✔What does wetting water affect?
Structural Trap - ✔✔Occur when the reservoir formation deforms in some way
Stratigraphic Trap - ✔✔Porosity and or permeability has changed within a formation or where
a nonporous layer seals off the top of a reservoir
Petroleum Trap - ✔✔An underground rock formation that blocks the movement of petroleum
and causes it to accumulate in a reservoir that can be exploited.
Anticline Trap - ✔✔Rock layers that were originally laid down horizontally became folded
upward into an arch