The American Oil and Gas Reporter - January 2012 - (Page 252)

way at 9:30 a.m. Prior to the business agenda, Briggs says, a Texas Hold ‘em poker tournament will kick off the meeting at 2 p.m. Sunday, Feb. 26. A silent auction opens at 5 p.m. that day and runs through 9:30 Tuesday morning. The welcome reception is set for 5 p.m. Sunday. For information or to register, contact LOGA, P.O. Box 4069, Baton Rouge, La. 70821; phone 225-388-9525; or visit Ì Basin Boom Times Highlight For IOGA MOUNT VERNON, IL.–Members of the Illinois Oil & Gas Association may have their heads on a swivel at their annual meeting this year as they look back at significant successes in 2011 and ahead to the potential for new opportunities in 2012. The meeting is scheduled for March 1-2 at the Convention Centre in Evansville, In. A preconvention workshop is set for Feb. 29. “We have had a tremendous year with many exploration successes,” enthuses Brad Richards, IOGA executive vice president. “New oil has been discovered and people are drilling conventional wells. There also has been an increase in horizontal drilling for conventional reservoirs. “Production increased last year over 2010, which is the first increase in Illinois since the mid-1980s,” Richards adds. “This is a significant development in conventional plays.” IOGA members also will hear some cautiously optimistic news about current and future leasing activities, Richards predicts. “There will be an emphasis on the leasing activities at our convention,” he comments. “We believe these will be resource- and unconventional-type plays. We certainly don’t want to ignore the success of the conventional plays, but we also need to talk about what may be headed our way. “It appears,” the executive vice president continues, “there could be multiple plays, not just one.” Specific plays that Richards says will be discussed include the Mississippi Lime. “That really has taken off,” he remarks. “We hope to have a speaker talk about the Mississippi Lime in Kansas and Oklahoma so our members may be able to appreciate what could be headed our way.” Other plays include the New Albany and Maquoketa shales, Richards notes. “Leasing activity today is centered in the deep part of the Illinois Basin,” Richards says. “It appears the leasing interest is in liquid plays–both oil and natural gas. A lot of this is speculation because lessees hold things close to the vest. There has not been a lot of public comment.” Convention Agenda While IOGA’s annual meeting agenda has yet to be finalized, Richards announces some of the speakers who will address the group. Marlan Downey, former president of the American Association of Petroleum Geologists, is one. Downey had a 30-year career with Shell Oil and retired as president of Shell International. Brad Aman of Continental Resources, who worked in the Illinois Basin for many years, will give a presentation on the Bakken Shale, Richards continues. Since oil and gas rules in Illinois were rewritten and adopted last year, he says Duane Pulliam, supervisor of Illinois Division of Oil and Gas, will explain the effects of the changes. A banquet and entertainment are on the Thursday, March 1, agenda. Technical sessions will be scheduled, and the Friday luncheon will wrap up the annual meeting, Richards says. “This luncheon is a popular part of the program,” he notes. “We recognize those who have made significant contributions to the industry.” The company that has made the most significant discovery will be recognized as Wildcatter of the Year, and four individuals also will be honored. The categories are Petroleum Professional of the Year, Petroleum Professional Woman of the Year, Service Person of the Year, and the IOGA Lifetime Achievement Award. The displays in the exhibitor hall are another highlight, Richards adds. Up to 70 booths are expected. “Our convention and trade show are a pretty impressive deal, relative to our size,” he asserts. “For a small basin, we have a pretty large turnout. In the past, it has been about 650 attendees and we could exceed 700 this year. Not too many associations our size can boast that kind of turnout.” To register for the meeting, contact IOGA, P.O. Box 788, Mount Vernon, Il. 62864; phone 618-242-2857; or visit Ì Shale Gas Industry Will Employ 870,000 By 2015, Study Projects ENGLEWOOD, CO.–Natural gas shales, which have dramatically transformed the outlook for U.S. energy supplies, also are having profound economic impacts– creating jobs, reducing consumer costs of natural gas and electricity, stimulating economic growth, and bolstering federal, state and local tax revenues, according to an IHS Global Insight study. The study finds shale gas production supported more than 600,000 jobs in 2010, which is projected to grow to nearly 870,000 jobs by 2015. The Economic and Employment Contributions of Shale Gas in the United States tracks the long-term economic impact of U.S. shale gas production, and presents the economic contributions of shale gas in terms of jobs, economic value and government revenues through 2035, as well as the broader macroeconomic impacts on households and businesses, according to IHS. “The rapid growth in shale gas production–currently 34 percent of total U.S. production–is one of the most significant energy developments in recent decades and is having a significant impact on the nation’s economy in terms of stimulating job creation and economic growth,” says IHS Vice President John Larson, lead author on the study. Among the study’s key findings, IHS says: • Shale gas had grown to 27 percent of U.S. natural gas production by 2010; was 34 percent by December 2011, will reach 43 percent in 2015, and will more than double by 2035 to 60 percent. • In 2010, the shale gas industry supported more than 600,000 jobs; by 2015 the total likely will grow to nearly 870,000, and to more than 1.6 million by 2035. • Nearly $1.9 trillion in cumulative capital investments are expected to be made between 2010 and 2035. • Annual capital expenditures, especially strong in the early years, will grow to $48.1 billion in 2015. • The shale gas contribution to the U.S. gross domestic product was more than $76.9 billion in 2010; in 2015 it will be $118.2 billion, and will triple to $231.1 billion in 2035. 252 THE AMERICAN OIL & GAS REPORTER

Table of Contents for the Digital Edition of The American Oil and Gas Reporter - January 2012

The American Oil and Gas Reporter - January 2012
Oil & Gas Counts
State Legislative
Industry Digest
Tech Connections
Washington Watch
Federal Legislation
Gulf of Mexico
Resource Plays Providing Wealth of Opportunities
Tight Plays Poised to Transform U.S. Crude Supply
El Paso Project Optimizes Eagle Ford Completion Design
Real-Time Forward Modeling Improves Bakken Horizontals
Cover Story
Financial Firms Expand Oil and Gas Divisions
Multicomponent 3-D Poised for Growth in Shale Plays
Cloud Computing Driving Business Step Changes
Advanced Attributes Improve 3-D Interpretation
3-D Data Improve Knowledge of Shale Heterogeneity
HBUR RSS Solves Granite Wash Drilling Challenges
Technologies Improve Production Consistency in Resource Plays
SaaS Helps Operator Streamline Data Management
Automation Enhances Operations in Challenging Applications
Dispersant Chemistry Combats Plugging in Low-Gravity Oil Wells
New Technologies Optimize Production
Drilling Regs
The Presidential Papers
Energy Education
Shale Gas
New Lits & Products
Computer Currents
Industry Focus
Classified Advertising
Advertisers Index

The American Oil and Gas Reporter - January 2012