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Upstream: Exploration & Production

Upstream: Exploration & Production. UWPEA Spring 2013. What is Upstream?. Finding and extracting crude oil Players: OPEC (Organization of Petroleum Exporting Countries) Non-OPEC NOCs (National Oil Companies) Majors ( ie : Exxon Mobil, Chevron, BP, Shell, Total)

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Upstream: Exploration & Production

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  1. Upstream: Exploration & Production UWPEA Spring 2013

  2. What is Upstream? • Finding and extracting crude oil • Players: • OPEC (Organization of Petroleum Exporting Countries) • Non-OPEC NOCs (National Oil Companies) • Majors (ie: Exxon Mobil, Chevron, BP, Shell, Total) • Second Tier (ie: Hess, Marathon, Repsol YPF) • Independent (ie: Apache, Devon, Nexen, etc.)

  3. Where do you fit in?

  4. Exploration • Obtain exploration and drilling rights • Look for essential geological features • Source rock • Reservoir rock • Cap rock • Drilling the well • Completions

  5. Production • Flush production (natural lift) • Settled production (artificial lift) • Secondary recovery • Water injection • Gas reinjection • Enhanced Oil Recovery (EOR) • Hydraulic fracturing • Thermal recovery (steamflooding)

  6. Directional Drilling

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