Risk and reward – improving recovery rates versus exploration
A giant oil supply gap looms. If, as we expect, oil demand peaks at 110 million b/d in 2036, the inexorable decline of fields in production or under development today creates a yawning gap of 50 million b/d by the end of that decade.
How to fill it? It’s the preoccupation of the E&P sector. Harry Paton, Senior Analyst, Global Oil Supply, identifies the contribution from each of the traditional four sources.
1. Reserve growth
An additional 12 million b/d, or 24%, will come from fields already in production or under development. These additional reserves are typically the lowest risk and among the lowest cost, readily tied-in to export infrastructure already in place. Around 90% of these future volumes break even below US$60 per barrel.
2. pre-drill tight oil inventory and conventional pre-FID projects
They will bring another 12 million b/d to the party. That’s up on last year by 1.5 million b/d, reflecting the industry’s success in beefing up the hopper. Nearly all the increase is from the Permian Basin. Tight oil plays in North America now account for over two-thirds of the pre-FID cost curve, though extraction costs increase over time. Conventional oil plays are a smaller part of the pre-FID wedge at 4 million b/d. Brazil deep water is amongst the lowest cost resource anywhere, with breakevens eclipsing the best tight oil plays. Certain mature areas like the North Sea have succeeded in getting lower down the cost curve although volumes are small. Guyana, an emerging low-cost producer, shows how new conventional basins can change the curve.
3. Contingent resource
These existing discoveries could deliver 11 million b/d, or 22%, of future supply. This cohort forms the next generation of pre-FID developments, but each must overcome challenges to achieve commerciality.
Last, but not least, yet-to-find. We calculate new discoveries bring in 16 million b/d, the biggest share and almost one-third of future supply. The number is based on empirical analysis of past discovery rates, future assumptions for exploration spend and prospectivity.
Can yet-to-find deliver this much oil at reasonable cost? It looks more realistic today than in the recent past. Liquids reserves discovered that are potentially commercial was around 5 billion barrels in 2017 and again in 2018, close to the late 2030s ‘ask’. Moreover, exploration is creating value again, and we have argued consistently that more companies should be doing it.
But at the same time, it’s the high-risk option, and usually last in the merit order – exploration is the final top-up to meet demand. There’s a danger that new discoveries – higher cost ones at least – are squeezed out if demand’s not there or new, lower-cost supplies emerge. Tight oil’s rapid growth has disrupted the commercialisation of conventional discoveries this decade and is re-shaping future resource capture strategies.
To sustain portfolios, many companies have shifted away from exclusively relying on exploration to emphasising lower risk opportunities. These mostly revolve around commercialising existing reserves on the books, whether improving recovery rates from fields currently in production (reserves growth) or undeveloped discoveries (contingent resource).
Emerging technology may pose a greater threat to exploration in the future. Evolving technology has always played a central role in boosting expected reserves from known fields. What’s different in 2019 is that the industry is on the cusp of what might be a technological revolution. Advanced seismic imaging, data analytics, machine learning and artificial intelligence, the cloud and supercomputing will shine a light into sub-surface’s dark corners.
Combining these and other new applications to enhance recovery beyond tried-and-tested means could unlock more reserves from existing discoveries – and more quickly than we assume. Equinor is now aspiring to 60% from its operated fields in Norway. Volume-wise, most upside may be in the giant, older, onshore accumulations with low recovery factors (think ExxonMobil and Chevron’s latest Permian upgrades). In contrast, 21st century deepwater projects tend to start with high recovery factors.
If global recovery rates could be increased by a percentage or two from the average of around 30%, reserves growth might contribute another 5 to 6 million b/d in the 2030s. It’s just a scenario, and perhaps makes sweeping assumptions. But it’s one that should keep conventional explorers disciplined and focused only on the best new prospects.
Global oil supply through 2040
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Today we will certainly discuss industrial timber pellet mill Most of us know that contemporary society promotes the recycling of resources, especially waste wood, sawdust, straw, and so on. The timber that might not be utilized before can be refined into sawdust after squashing and also processing., sawdust as well as other raw materials, advertise the recycling of waste wood, as well as facilitate our lives.
Related post: wood pellet mill for sale
Sawdust source has the features of high calorific value as well as reduced emission of unsafe gas. It can be used as a high-quality biomass resources for power usage, which can lower the intake of non-renewable energy such as coal, oil as well as natural gas. Currently, the energy use techniques of sawdust in my country generally consist of: straight combustion heating, granulation, gasification, liquefaction as well as carbonization.
Around us, waste wood, branches, waste wood scraps, bark, branches, waste boards, veneers, furnishings factory scraps, assorted wood, etc can be grated into sawdust, and also biomass pellet fuel is generated through the industrial timber pellet mill The finished product has high burning efficiency and little harm to the atmosphere, which can be claimed to kill two birds with one rock.
Related post: biomass pellet mill for sale
1. Making use of industrial timber pellet mill.
The industrial wood pellet mill is a good gadget that can make sawdust energy. There are numerous house suppliers, which produce a large quantity of sawdust each year. Nevertheless, due to the influence of standard manufacturing techniques and also living routines, the use price of sawdust is extremely low, and a substantial amount of sawdust sources are disposed of or blazed, which not just creates waste of sources, yet additionally pollutes the air. The use of industrial timber pellet mills successfully recycles these resources.
Over the years, Richi Machinery has actually focused on the research and development, design and also production of commercial timber pellet mills, wood cutting pellet machines, sawdust pellet makers, biomass pellet machines, wood pulverizers, timber pellet assembly line, timber processing tools and also various other items. All items have passed ISO9001 :2008 The international high quality monitoring system qualification as well as EU CE qualification have gotten to the worldwide sophisticated degree, as well as the items swiftly cover the domestic market and are exported to countries all over the world.
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Considering that its facility, Richi Machinery has won the honorary titles of "Advanced High Quality Device" and " Top Quality Trustworthy Unit" each year, and also has been identified as a national AAA-level enterprise for high quality, track record and service. The firm has actually always stuck to the principle of " top quality first, online reputation initially", according to the tenet of "survive by top quality, and also look for take advantage of development", exerting its own benefits as well as gradually increasing its scale. In the future, the industrialized people will make persistent efforts to establish and develop products that are well gotten by residential and also foreign customers, as well as stroll in the forefront of the industry.
2. The development possibility of industrial wood pellet mill.
Over the last few years, many nations have better enhanced the development of brand-new power as well as the management of environmental issues. Biomass commercial wood pellet mills are not only environmentally friendly and also resource-saving, but also bring us economic value. They have been affirmed by several individuals as well as buddies, and the market sales are likewise high. For that reason, the development prospect of commercial wood pellet mill can be claimed to be extremely excellent.
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In order to meet the demands of different life as well as production, industrial wood pellet mills have actually likewise been innovated and also upgraded. These cutting-edge technical products are made use of more and more widely in our lives. It brings us a very safe material for individuals's livelihood heating and also living power. This gas has a high usage price and is simple to shop. Especially, it can be made use of as the primary gas type for thermal power generation, which greatly replaces the existing ones. Different non-renewable power sources such as raw coal and firewood, gas dissolved gas, etc can successfully save the input of non-renewable fuel.
This strong gas that has actually been crushed as well as pressed by an industrial wood pellet mill has outstanding burning performance. Its thickness is larger than that of common fuels, and at the same time, the launch of various unsafe gases is reduced. It is a safe, green as well as environmentally friendly gas kind.
When individuals have a complete understanding of the strong gas of "biomass pellet fuel", the marketplace demand for industrial wood pellet mills as well as various other mechanical devices is also boosting. The advent of industrial timber pellet mill has actually developed remarkable economic value and also social worth.
Now, countries around the world pay more and more focus to the security of the environment and the application of numerous power sources. The innovative study of industrial wood pellet mill has brought us the efficient use of renewable energy to a huge extent, enabling us to obtain convenient, energy-saving, pollution-free eco-friendly power, and likewise bring us excellent resource maintenance. Obviously, when we use the biomass timber pellet mill maker, we should follow the operating specs and also its collection of needs for material processing and also manufacturing, so as to increase its result as high as feasible as well as prolong its service life.
It is no secret that the COVID-19 epidemic has forced us all to make significant changes in our lives. Remote work has been an option for businesses; K-12 schools have adopted distance learning as a necessity; many college students, who were previously enrolled in on-campus courses, now have to learn online.
While online learning carries many positive benefits that make it the preferred choice for millions of students, it doesn't come without its challenges--especially for students who are more familiar with in-person courses.
Here are seven tips from Jonathan Small (associate vice president for online learning at Regis College), that will help you to adapt your study habits to fully online learning.Tips for Online Classes1. Take the time to plan ahead and understand when your assignment is due.
Online students interact with the subject matter and complete assignments via learning management software (LMS). Regis offers online classes through Moodle. Other popular tools include Canvas and Blackboard.
It doesn't matter what LMS you use, it is important that you take the time to familiarize yourself with the interface as well as your assignments. Take a look at the due dates for your assignments so you can create a realistic plan to complete them.
Small says that online classes are often structured in modular formats, which is different from face-to-face classes. You don't always have the physical reminder that your work is due in class. Online classes can be very busy, so students must organize their time.2. Make sure you have enough time to study.
Many students at Regis and other universities pursue their education while also fulfilling other obligations. You have to balance work, childcare, family obligations, and internships.
Small says, "Chunking tasks is a great way for students to feel accomplished." You feel like you are making progress. You can also schedule a time to study, which will help you establish and maintain a routine.3. Regular communication is essential for group projects.
Many college courses include group projects and assignments that you must compete with others in the class. This is true for both online and in-person courses. Small says that while in-person courses allow for group projects and bring people together face to face, online students must be careful about communicating effectively.
Groups must prioritize communication, regardless of whether it's via Zoom, email or phone call, instant messaging, shared documents, or any other form altogether.
Small says, "Find a system which works for everyone in your group and then follow up often."4. Split up work groups early.
It is important that groups are able to properly divide tasks so that everyone has a fair share and everyone knows exactly what they have to do.
Small advises that group projects should be planned far in advance so that everyone can share the work and coordinate their efforts. This way, even if something isn’t due for a few more weeks, everyone has the opportunity to use their time and work on their tasks as they can.5. Keep in touch with your professor frequently.
As important as it is to communicate with your classmates and group members, it's equally important that you communicate with your instructor or professor. Whether you need help with an assignment, or simply want to share your struggles with them, make the effort to contact your professor.
Small says that talking to your instructor is key to success. Small says that you don't have to struggle with your questions and concerns alone. The professor can help. Talking to your instructor for five minutes can help you save days of stress. You will feel better, get more clarity, and be more successful.
You don't have to communicate only when things are going wrong. You can build a rapport with your instructor by letting them know when things are going well.6. Participate as often as you can
Participation is key to your success, no matter if you are taking classes online or in person. Active participation not only shows your professor you are engaged but also shows you are learning and willing to do the work required to succeed. Participation transforms education from a passive process to one that is active.
Small says that the more you take part as a student the better your experience will be.7. Flexibility is key.
Flexibility is key to online learning, both for you and your fellow students--and even your professors.
Small says, "Remember that your instructors had only to switch to remote teaching within a weekend. That's the same time it took to transition to online learning."
"This happened by accident. It's possible to restore the campus community by simply being compassionate, active in your course material, and talking to your instructors. This will make the transition smoother.Put in the Work
Online learning might not be your first choice. However, the tips and advice above will help you make the most of your online courses. Clear and open communication with your classmates and instructors, as well as staying focused on the course material, will be key to your success in this difficult time.
Related article from studentjob.co.uk : http://www.studentjob.co.uk/blog/5757-best-online-exam-help-top-five-websites-you-can-trust
One of the most popular literary devices or genres is Satire. This genre is especially designed to criticize someone or group of people for their vices, wrongdoings, or shortcomings.
Usually, humor is used to highlight important political and cultural issues in a society. A satire article is a type essay that uses humor, sarcasm, and irony to ridicule a person, situation, or ideology. It pokes fun in an elite and sarcastic fashion at certain people or situations.
How to Write Satire Essays: Writing Tips
How do you write a satire article? It doesn't have to be difficult, even though it seems daunting. However, once you use the following tips, it can be an easy task to write a satire article.
Choose a relevant and original topic
This is why you will need to create a satire essay. Your first step is to pick a satirical essay topic. You may be assigned a topic by your professor or teacher in some instances, but you would need to create your topic.
Decide the topic of your essay. Depending on what you are interested in, you can choose to concentrate on either a political or societal situation.
However, it's a good idea to choose a topic you are already familiar with. This will make it easier to locate facts and evidence to support the views you hold.
Consider your audience
Your essay is the center of attention. You must consider your audience at every stage of the writing process. Your essay should be addressed to college professors or high school students.
Are professionals reading it or are you just a student? It is important to consider your audience and determine the right tone for your essay.
A casual tone is acceptable if your target audience is mostly friends and students. It's best to use a formal tone if your target audience is professionals.
What makes a humorous essay so engaging? It is the topic, or the writer's writing style that makes satire essays so interesting. Humor is the key ingredient to any satire essay. You want your audience to laugh at the absurdity or inanity of a person or situation. Irony, sarcasm or hyperbole are all great ways to accomplish this end.
These devices can be very effective if used in a thoughtful manner.
Be clear about the facts
Because satirical essays often use exaggeration and humor, it is crucial to write an essay that is straightforward. An essay that contains false or misleading information will not be accepted by the court of public opinion.
Therefore, facts should only be stated that are supported by strong evidence. If you want to give credibility, be sure to cite the source of your information after citing figures, theories, opinions, etc.
This would ensure your audience that your essay was credible. Avoid including arguments that you are unable to prove or find evidence.
Use the ELP Format
ELP format is a great tool to ensure that your satire essay will be professional and high-quality. ELP is an acronym that stands for ethos, logos, and pathos.
These three elements make up a large part of an essay and can either help or hinder your work. These elements are important and can be used in your essay.
Ethos informs readers about the topic at hand and their preexisting beliefs. To provide a foundation for readers, Ethos should be used as a tool in the introduction.
Logos give credibility to your work by providing facts and figures for the audience.
As the name implies, pathos will elicit the appropriate emotions and feelings from your audience. You can use this tool to invoke sadness, sympathy, anger or any other emotion.
It is important to avoid making offensive statements in satire essays, even though they are often filled with irony or sarcasm.
Your audience will likely include people from all walks of life. Therefore, it is important not to make comments that could be considered discriminatory or offensive for a particular section.
The art of discerning the right line between humor and offensiveness is delicate and requires practice. You can ask teachers or colleagues to give you second opinions so that your essay doesn't offend.