A Worldwide Leader in Independent Engineering and Geological Services

GLJ Petroleum Consultants Ltd. is a premier international oil and gas resource consulting firm. We have a team of over 70 dedicated professionals with the experience, expertise, and reputation to handle any petroleum resource assessment worldwide.

Along with extensive industry experience in conventional international and Canadian oil and gas project evaluations, we also specialize in detailed assessments of unconventional resources. Follow this link to a map of our global experience.

GLJ’s in-depth industry knowledge and distinguished reputation benefits a diverse group of clients from small business to large integrated multi-national companies and national oil companies, as well as financial institutions. Our dedicated team of engineering and geoscience professionals is committed to providing unparalleled customer service, and our flexible proprietary software allow us to customize results to suit unique needs.

GLJ Releases October 1, 2015 Pricing

Following a third quarter retreat in both equity and commodity markets due to waning economic activity expectations worldwide and a persisting oversupply of crude oil, we have reduced our Brent and WTI oil price forecasts from the previous quarter. Although the extreme uncertainty implied by options pricing forces us to acknowledge the possibility of a surprise in either direction, our view is that the balance of probabilities justifies current forward market prices in the near term and a moderate reduction to our long term oil price forecasts.

Understanding Contingent Resources

Keith Braaten gave a presentation titled “Understanding Contingent Resources” at the 2015 REU Conference in Houston on August 12, 2015. Contingent resources have gained importance with the exploitation of continuous deposit type unconventional petroleum accumulations through the application of advanced technologies, such as horizontal drilling, multi-stage hydraulic fracturing and thermal recovery projects, including steam assisted gravity drainage. The potential recoverable resources for these projects are massive, often requiring decades to develop and may not be classified as reserves under existing definitions. In this presentation, we discuss the importance of contingent resources, possible contingencies, sub-classification, risking for chance of development and conversion to reserves.

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