In-Person
Where: The Petroleum Club of Shreveport, 15th floor
Cost: $25
If you’d like a seat, kindly use the form below to make your reservation by the preceding Friday.
We encourage members to invite guests, spouses, and friends to any of our meetings.
Virtual
Where: Zoom
(starting at 12:00PM)
Cost: $10
If you’d like to attend virtually, please pay with a credit card below and use the email address where you would like Zoom login details sent. Please make your reservation to attend virtually by noon the day before the meeting.
Biography
Amy Close
Amy Close has 22 years of experience in the petroleum industry, with a focus on acquisitions, divestitures, exploration, and asset development. With experience in multiple US basins, as well as offshore and international experience, she has led teams in over $1 billion in total acquisitions and over half a billion in divestitures while managing large assets and improving production.
Currently, Amy serves as the VP of Business Development and Geoscience at Digital Operating Company, responsible for identifying and developing new business opportunities that align with the overall company strategy. Prior to her current role, Amy was Director of Geoscience at Laredo Petroleum. She is past president of Tulsa Geological Society, Tulsa Geological Foundation Board member, ADAM Tulsa Board member, and O&G Committee member Tulsa Irish Fest.
Abstract
The Permian Basin is a world-renowned oil and gas producing region located in West Texas and southeastern New Mexico. It is named after the Permian geologic time, which occurred from 251 to 291 million years ago. The basin is known for its rich exploration and development history, combined with a perfect geologic setting that has made it a super basin, taking its place at the table with other major oil and gas producers in the Middle East and Latin America.
Since the first well was drilled in 1920, this area has produced over 30 billion barrels of oil, with almost an equal amount still remaining. The Permian Basin has evolved over the years, with innovative technologies and innovations leading to increased production levels. In the 2010s, horizontal drilling revitalized the basin, with unconventional targets dominating the drilling program in the region.
This drilling has triggered record production levels, courtesy of the swallow sea depositional system during the Lower Permian time. The potential for oil and gas production in the Permian Basin remains high, with almost half of the original oil still to be recovered.
This presentation aims to provide an overview of the Permian Basin's history of deposition, the expansion of oil and gas production, and the potential production remaining from multiple targets. It will delve into the geologic setting of the region, the evolution of drilling technology, and the impact of horizontal drilling on the basin's production levels. Additionally, it will explore the potential for future production in the Permian Basin, including the multiple targets that are yet to be explored.
Overall, the Permian Basin continues to be one of the most important oil and gas producing regions in the world, with a rich history and promising future.
