GLJ News Archive
GLJ has acquired an equity stake in VISAGE - a visual analytics software innovator based in Calgary, Alberta. The investment strengthens both companies’ client offerings and secures our mutual leadership in Big Data analytics for oil and gas producers, investors and financiers.
VISAGE products and services benefit from GLJ’s broad perspective with over 40 years of petroleum industry experience, extending the software’s global and domestic market reach. As a shareholder in the analytics software company, GLJ will further distinguish our petroleum consulting services with software-driven insights while participating in VISAGE’s success.
Our long term WTI oil and Henry Hub gas price forecasts remain unchanged at 87.50 USD/bbl and 5.25 USD/MMBtu (in 2013 dollars), respectively. Our near term WTI oil forecast is up slightly, from 90 USD/bbl in 2013 in our January 1, 2013 forecast to 95 USD/bbl in 2013 in our April 1, 2013 forecast. Near term Henry Hub gas prices are higher in our April 1, 2013 forecast than in our previous forecast, at 4.08 USD/MMBtu for the remainder of 2013. Our exchange rate forecast is unchanged at par (1.00 USD/CAD), and our inflation forecast remains flat at 2%.
GLJ’s Mike Morgan presented “Prospect to Reserves: De-risking Unconventional Plays” at the Hanson Wade Unconventionals Europe conference March 12-15, 2013 http://reserve-estimation-emea.com/. The presentation described the journey from geological characterization through to meaningful resource evaluation and, ultimately, reserves estimation with a focus on optimized appraisal strategies that ensure capital efficient reserves bookings.
GLJ’s market leading oil sands team is the USB sponsor for the Canadian Heavy Oil Association’s 2013 Slugging It Out Conference, best known for engaging presentations and dialogue highlighting the latest industry heavy oil and oil sands advancements. Click here http://www.spe.org/events/sio/2013/ for conference details.
Our long term WTI oil price forecast has come down slightly from 90 USD/bbl in our October 1, 2012 forecast to 87.50 USD/bbl (in 2013 dollars), with the near term forecast slightly lower than our previous forecast as well. Our long term Henry Hub gas price forecast is down slightly in nominal terms from 5.25 USD/MMBtu in 2012 dollars to 5.25 USD/MMBtu in 2013 dollars. Our long term exchange rate forecast has moved to par (1.00 USD/CAD) from 0.98 USD/CAD, and our inflation forecast remains flat at 2%.
At the recent SPE-CURC conference in Calgary, Mike Morgan presented a summary of a price-dynamics project he and his coworkers recently completed. This project demonstrated that any discussion of oil and gas prices in Canada must consider inflation.
GLJ’s Vice President of In Situ Oil Sands, Caralyn Bennett, joins the Credit Suisse Global Credits Products Conference Panel Discussion on Oil and Gas Reservoirs October 4th in Miami, Florida.
Our long term WTI oil price forecast (90 USD/bbl in 2012 dollars) remains unchanged, although the near term WTI forecast has been increased from the July 1, 2012 forecast. Our long term Henry Hub gas price forecast (now 5.25 USD/MMBtu in 2012 dollars) has been reduced 0.25 USD/MMBtu from the July 1, 2012 forecast. Our long term exchange rate forecast remains at 0.98 USD/CAD, and our inflation forecast remains flat at 2%.
As the Child’s Room sponsor for the Auburn Springs Habitat for Humanity project, GLJ employees and guests participated in 4 days of home building this spring. With staff participation at more than 30%, we proudly contributed 430 hours to a variety of tasks ranging from roughing in the electrical to framing.
Find out how GLJ can help your company assess and quantify reservoir, price and development risk. Mike, a senior reservoir engineer with GLJ, has extensive experience evaluating tight gas reservoirs and emerging resource plays in northeast British Columbia.