The Interplay Between Geoscience and the Oil and Gas Industry

John Lorenz
Geoflight LLC

Advances in geoscience have been critical to maintaining the viability of the oil and gas industry. One of the better measures of this is the success rate of wells drilled over the years, and by this metric, geoscience has been highly successful. The percentage of drilled wells that turn into producers has remained constant even though the largest plays and “easy oil” were found early on. The success rate of wildcat wells has never been less than about 15%, and in fact has improved in the last 10-15 years, suggesting that advances in geoscience are allowing us to become more efficient. Unfortunately, geoscience alone cannot maintain production levels since no-one can produce what isn’t there: alchemy went out of style with the druids.

AAPG, the world’s premier hydrocarbon geoscience organization, was founded and continues to exist for the benefit of its member geoscientists. Over 80% of AAPG members work for industry, thus what benefits our members indirectly benefits industry. Many companies recognize this and have been generous in support of various AAPG programs. However, the primary purpose of AAPG is to foster and disseminate the historical and leading-edge geoscience that allows members to do their jobs efficiently and effectively. One often hears that “It’s better to be lucky than good” as a geologist working in the oil patch, but luck is inconsistent at best and makes a poor foundation for a career strategy. With the best geoscience, however, you can consistently be good.

AAPG Search and Discovery Article #90089©2009 AAPG Southwest Section Meeting, Midland, Texas, April 26-29, 2009