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Are you currently looking to fill an open position in one or more of your subsurface groups? Have you put a very good candidate on hold while in your mind you are continuing to look for an even better fit? If the answers are yes, you may want to reconsider your plan. At Collarini we have been noticing a clear pick-up in the job market for candidates with geoscience and subsurface engineering backgrounds. This means that well-qualified candidates are now having a choice of a multitude of opportunities. Moreover, a number of temporarily placed employees are beginning to receive lucrative permanent job offers. We have seen quite a number of temporary-to-permanent transitions recently. Two numbers that support the trend within our own business:
So you don’t miss the hiring of an otherwise solid future employee, you may want to review your requirements for the job you are trying to fill.
Remember: Superman and Superwoman sometimes move and disappear very, very fast…! On a different note: As we are looking around us to see what our industry is doing, we of course can not ignore the current discussion on reserve estimations. Click here to read our take on five components in your company’s successful reserve estimating process. Last but not least, we thought you might be interested in the always timely subject of non-verbal communication. We wanted to share with you some good refreshers about the do’s and don’ts that you may want to keep in mind in your daily interaction with others. Looking forward to hearing from you, Your
Friends at Collarini
A Look at the Reserve Estimating Process Proved reserve booking has been the topic of interest in the news this year. There have been numerous articles in the popular press, and it seems to be the highlight of every industry meeting. Many people are putting forth ideas and suggestions on how to remedy the reserve overbooking problems. These fixes range from doing away with deterministic estimating methods to more closely defining “reasonable certainty” to certifying reserve evaluators. While many of these suggestions are in practice in some companies, and they certainly have merit, the first question should be “Is the system broken?” Reserve write-downs by a few companies, while not ideal, don’t necessarily condemn the entire system. There are surely improvements to be made, and we should strive to do that, but not completely do away with what we already have. The system is generally understood by most people, and it has served the industry and its stockholders well for many years. A periodic review of the reserve estimating process within each company should be undertaken. There are five components that need to be addressed: First, each reserve estimator responsible for final booking must be technically competent. Second, each reserve estimator must know the reserve definitions and how to apply them. It is not unusual to find very experienced, technically competent reservoir engineers and geoscientists who do not fully understand the definitions. Investment decisions are not always based on booked reserves, and many in the business still do not understand that there is a difference. Risk weighted or most likely volumes may be very different. During the SPEE conferences on SEC reserves, some people in the audience expressed shock and dismay at some of the comments made by the SEC engineers on the application of proved reserve definitions. Third, the reserve estimator must be objective and, perhaps, unwavering. There are inherent reasons for companies and their asset teams to want higher reserve estimates. Compensation and performance appraisals may be based in part upon reserve additions. Explorationists know that they are judged by the reserves they find. Managers and asset teams want to show they are producing good results with the capital budget. If the marketplace thinks a company’s reserves are under-booked, a buyout attempt may be forthcoming. Stockholders want to see reserve growth every year. Unless the reserve estimator is shielded from these pressures, it will be difficult to overcome the problems with over-booking. Next, the reserve estimator must prepare complete and technically defensible documentation for his or her estimates. Sometimes even the best estimates get over-turned due to poor documentation. Last, the reserve estimator must have a check and balance system in place for all estimation processes. Especially in these times of rapid personnel turnover to different companies and assignments, it is important that each team produce the same quality results without fail, year after year. For example, Collarini Associates requires their teams to follow written standard guidelines for every reserve appraisal prepared. The intent of these guidelines is to ensure that all reports will be consistent in both appearance and content and will be delivered to the client technically correct and error-free. The same results must be provided every time, so clients always know what to expect. The three cornerstones of a sound technical process are:
When interpreting the reservoir characterizing data, there may be more than one solution. SEC standards require the most conservative solution be used. For example, in a fault block mapped using seismic amplitude, a well appeared to water out. The mapped remaining volume updip of the well is smaller than the original volume minus production. Did the well cone water? Was there a mechanical problem? Which estimate do you use? As far as the SEC is concerned, the smaller estimate is the “right” estimate. Documentation requires not only all of the maps and hard data. More important is to capture the thought process that resulted in the estimate. How and why was the amplitude evaluated? What reservoir limits were used? Is the reservoir at original pressure? These “footprints” are what allows the work to be verified. If
you are concerned about your company’s internal processes,
consider hiring an independent group of professional geoscientists
and engineers. You will benefit from their knowledge, but also from
the systematic approach they will bring to your internal teams.
Because you will choose people or a company who are independent,
technically astute, and thoroughly versed on SEC and SPE/WPC definitions,
you will receive professional, objective and consistent results.
The following Biographies are just a small sampling of the kind of talent available in our talent pool of over 9,000 experts. Please call our placement managers if you are interested in learning more about these professionals, or check out our website for more candidates. Petroleum Engineer with a Bachelor's Degree and 25 years of experience with a major oil company, both domestic and international. Knowledgeable in reservoir, acquisitions and divestments, and planning. Experienced in reserve estimation, field studies, portfolio and project economics, transient pressure testing, field development, production optimization, budgeting and strategic planning. Geographic areas worked include south Louisiana, the Gulf of Mexico, and the Gulf of Thailand. Proficient in relational databases and various computer programs, including Microsoft Excel and Access, Comshare, and Oracle. Ask for R526. Engineering Technician with 25 years of experience supporting engineers, including 20 years at a large international independent. Proficient in budget preparation, reservoir economics, management of reservoir databases, financial and production reporting, and maintenance of production systems. Experienced in waterflood projects, volumetric calculations, planimetering and handling multiple tasks at once. Computer skills include PEEP, Aries, Prophet, and Microsoft Office. Ask for TE186. Drilling Engineer with 26 years of experience working for major oil companies, service companies, and as a consultant. Experienced in every phase of drilling engineering and supervision, operations, and management, both domestically and internationally. Experience includes drilling operation plans, AFEs, rig construction management, production testing, facility installation, and completion and workover operations. Geographic areas worked include the Gulf of Mexico, Venezuela, Siberia, Peru, and Egypt. Proficient in self-developed drilling software. Ask for D18. Lease Analyst with over 25 years of experience as lease analyst and contract landman. Expert at analyzing a large volume of leases and inputting them into a company or industry database. Extremely well versed in lease forms and terms from through-out the United States and has very fast data entry skills. Ask for L0241. Exploration Geophysicist with over 20 years of experience working North Africa and the Middle East: Tunisia, Algeria, Libya, and Syria. Lived in Tunisia for several years and gained experience with operating an onshore Tunisian field. Expert in the planning, acquisition, processing and interpreting of 2D and 3D seismic data in foreign environments. Proficient in seismic interpretation on both the GeoQuest and Landmark computing platforms. Ask for GP0701. Geoscientist
with 18 years of industry experience, almost all of which has been
in the exploration and development of prospects along the onshore
and offshore Gulf Coast. Expert user in Landmark, SMT Kingdom, Petra
and Rose's risk evaluation software. Proficient in seismic interpretation
and integration of logs into a complete evaluation. Experience in
both extensional and compressional tectonic settings. Ask
for GG205.
Recently, a seminar was held for an audience of law enforcement officers. The conductor asked a volunteer to imagine he committed a murder and to think of the weapon he used. The conductor then asked the volunteer, “Was it a gun, knife, club, rock, or rope?” Before the volunteer could respond, the conductor asked, “It was the rock, right?” The conductor was correct, and the officer asked how he could know. He replied that he knew by the eye movements the officer made when the conductor said, “rock”. Can you guess what percentage of communication is actually verbal? If you guessed less than 10%, you are correct! Words make up only about 7% of total communication, and speech (semantics) comes in at 38%. Visual, non-verbal communication consists of 55% of our daily communication! Often we put too much emphasis on our actual words and too little thought into our non-verbal actions. Non-verbal communication can determine the success or failure of important meetings or interviews. We should all remind ourselves about the body language that plays an important role in the impressions we leave on others. Negative non-verbal actions should be avoided. If you are unenthusiastic about the conversation, it will show through your body language. When you are in the know about body language, you can make it work for you. For example, do not tap your foot, doodle on paper, bounce your leg, or look up to the side when communicating with others. Blank expressions should always be avoided. You advocate dominance if your hands are on your hips, your head is tilted back, or both hands are behind your head. Uncertainty will be detected if you overly blink your eyes, have raised eyebrows, touch your lips with your fingers, knuckles, or pencil, or constantly clear your throat. Avoid filler words such as “uh”. Sudden body movements indicate a reaction to a sensitive area, while blushing shows embarrassment, shame, or shyness. An open mouth conveys surprise, uncertainty, or puzzlement. Don’t look down, or you may be perceived as deceitful, guilty, defeated, or shameful. Extended arms with palms upward may come across as humility, pleading, or asking for support. To create a positive impression, remember that your personal appearance is a key factor! Always be prepared with good grooming and professional clothing. You should also think about the condition of your purse or briefcase. Your handshake should be web-to-web and firm while keeping good eye contact. To show that you are listening, lean forward with your arms open, and keep your hands open or with crossed fingers. Leaning your head towards your shoulder will portray friendliness. Keep a social space of four to 10 feet and remember to smile! Of
course, always apply the golden rule: think before you speak and
stay in control. With these techniques in mind, success awaits you
even before you begin to speak.
Connecting
the Industry's Experts...
Reservoir Solutions the Industry Trusts... The Collarini Associates petroleum engineers and geoscientists specialize in evaluating oil and gas reservoirs. Specific projects include integrated field studies, acquisition evaluations, independent reserve appraisals, and exploration and exploitation prospect generation and assessment. Our full divestment services include creation and hosting of electronic and physical data rooms in addition to the technical evaluation. Our teams in Houston and New Orleans are very experienced and stand ready to help you on projects of any size. Try us!
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