Dwayne Purvis, P.E. is a reservoir engineering and management consultant based in Texas. Find commentary and free resources at www.dpurvisPE.com. Besides writing and speaking on topics of industry interest, Dwayne assists operators and investors to make circumspect acquisitions and to increase value, especially in hard-to-understand reservoirs. Over 20 years of practice, Dwayne has studied scores of fields and advised clients of all sizes. He graduated from Texas A&M University, Magna Cum Laude with University Honors, and he is a member of AAPG, SEG, SPEE and a 25-year member of SPE.
When I started my career as a third-party reservoir engineer twenty-six years ago, plugging costs seemed optional to this neophyte. Salvage value probably covered abandonment…
Fears of running out of storage capacity drove oil prices down over $40 in single day, forcing sellers to pay their buyers to take the…
The natural gas market appears to have lost a sense of scale for storage volumes. Prices languish while last week’s EIA figure for gas in…
The recent fall of natural gas prices to extraordinary lows attests to a misunderstanding of how precarious supply remains, and it has poised the market…
The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted.…
An agency little-known outside accounting circles recently issued draft rules to change the standards which govern the verification of the year-end oil and gas reserves…
Notable authorities such as the EIA, the IEA, OPEC and BP forecast growth of demand for oil in their base case scenarios through the end…
Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then…
The lulling stability of oil prices over the last months has been a welcome respite, and both Saudi and Russian authorities have declared the glut…
Hidden among the ballyhoo about a collaborative freeze in production growth, a less visible but far more effective dynamic has affected, and likely will affect,…
Props to Saudi Arabia. Unlike other producers, including U.S. shale producers, it maintained financial strength and flexibility during the last boom. When it began to…
In the geopolitical and oligopolistic global oil market, purely financial supply and demand has often been a secondary force, acting when it is allowed to…