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Showing posts from August, 2018

The Difference Between Oil and Gas Reserves and Resources

The Oil and Gas industry is a very convoluted one, requiring a range of different approaches and different disciplines in order to run an oil and gas company – much less make a profit doing so. There are a lot of terms in the oil and gas industry which can easily be mistook for the other, but are different things entirely and not to be confused.

Oil and Gas Reserves and Resources Evaluation is a discipline that mostly involves an economical look at assets or potential assets respectively, in order to provide much-needed information to a company about financial risk associated with excavation.

Oil and gas reserves and resources are similar in the respect that they present challenges, but the challenges are unique from the other.

An oil reserve is viewed in far higher regard than a resource, due to the fact that “resource” denotes crude oil and natural gas accumulations which are known to an oil and gas company, but cannot be produced in a commercial manner due to factors involving safe…

Steps to Performing a Depth Conversion

Geophysics, and the process of Depth Conversion, is something which, like most sciences, is something which is constantly changing, and there are more and more ways to efficiently ascertain much-needed data about oil and gas reservoirs as time goes on - therefore improving the process as well as improving the results of the process. 
In 2018, Depth Conversion is something which is robust and telling to all manner of uncertainties and risks associated with oil and gas reservoirs. We identify the most relevant ways in order to perform accurate and efficient time to depth conversions in this article below.

Initially, the first step in a time to depth conversion is to interpret a set of time horizons from a derived image volume. Image volume by itself is something which is derived from time migration, and time horizons, by their very nature, are then associated with layer boundaries. These layer boundaries can have velocity contrast and/or geological formations of interest.

Secondarily, RM…