DALTA PRESENTATION David J. Steyaert, Impact Energy Resources, LLC . July 2012 Impact Energy Resources, LLC 1
Who am I? • David J. Steyaert, Sr. – Currently Petroleum Geologist and Owner of Impact Energy Resources, LLC a small oil and gas prospect generation/ consulting firm in Denver since 1997. Professional Petroleum Geologist, 30+ years industry experience. Twenty four plus years • unconventional resource play experience with coal bed methane in San Juan, Uinta and Midcontinent; tight gas sands throughout Rockies; tight oil plays in the Green River-Wasatch in Uinta Basin; Niobrara Shale in Sand Wash, North-South Park, Powder River, and Denver- Julesburg Basins; and Bakken - Threeforks and Mississippian carbonates in the Williston Basin. International exposure in west and north Africa and eastern Europe. Successful track record of project management, oil and gas prospect generation, drilling and operations geology, and project marketing and execution. • M.S. Degree Geology from University Missouri-Columbia, Columbia, Mo. • B.S. Degree Geology from University Missouri-Kansas City, Kansas City, Mo. Affiliations: AAPG; RMAG; Wyoming Professional Geologist. • Impact Energy Resources, LLC 2
Our General Presentation Outline • Introduction • What are some of the things you should know about our industry. • Some traits of successful Geologists and explorers. • The Geologist’s tools of the trade. • Oil and Gas Plays- What are they? • Prospects- What are they? • Game changing technologies for Geology. – Our Laboratory! • Elements of an Oil and Gas Accumulation. – Stratigraphy – Reservoirs and Source Rocks. – Traps Yesterday and Today! • Stratigraphy and why it is important for you! • The Resource Pyramid. • Rocky Mountain Resource Plays. • Stratigraphy of the Niobrara. • Buck Peak Production Example. • Stratigraphy of the Bakken – Three Forks • High Savannah Prospect Example • Summary Impact Energy Resources, LLC 3
What is the First thing you know ? Impact Energy Resources, LLC 4
Jed’s a Millionaire! Now headed to Beverly Hills- There must have been a Division Order and Title Analyst involved in there somewhere or Jed would have not gotten paid. Impact Energy Resources, LLC 5
What are some of the things you should know? • Our business is not quite like the Clampetts any more. It never really was for me and probably not for you! Our industry is made up of multiple disciplines and it takes them all working • together as a team to find and produce economic oil and gas. • Best geology in the world is worthless unless you own the leases- “No lease-No Grease”. In my career I have been constantly reminded of this fact. • Your group provides tremendous value to our industry and as a royalty interest owner- THANK YOU! • You need to know something about the nature of geologists- Oil is found in the minds of men and women who have a sound fundamental background in Geology. • We know oil is found in specific areas under specific geologic conditions. Mostly in or nearby depositional basins that contain abundant source beds to generate oil and gas, reservoir rocks to host and carry the oil and gas to a nearby trap. Traps may either be Conventional (stratigraphic or structural) or what we call Unconventional (Continuous). We will return to all this in a moment. • Geological fieldwork forms the basis for all studies of sedimentary rocks and petroleum reservoirs, source beds and hydrocarbon traps! Impact Energy Resources, LLC 6
Traits of successful Geologists/ Explorers! • Some key traits include: Enthusiastic and highly motivated – Can do attitude! – A sense of optimism. – Be able to think. – Be able to solve complex problems. – Be able to communicate. – Highly Creative mind- Able to assemble and synthesize lots of different types of data and – create a coherent picture. – Honest . – Must have integrity. – Team player – Big Thinker – Takes just as much effort to find a small accumulation as a large one. – Tenacious – Don’t give up. Failure happens for a variety of reasons some of which you can’t control. – Intelligent - You need to be able to understand what you are looking for and have the tools to succeed. – A person who elevates the level of performance of those around him or her! – A Great Salesman – maybe this should be at the top of the list. – It is good to be Spiritual. Lucky. It is hard to deny divine intervention when you work for yourself because so many good things happen beyond your control. Impact Energy Resources, LLC 7
Geologist’s Tools of the Trade • The chief database for the petroleum geologist is the pool of literally thousands of historical wells that have been drilled. The well records, sample and core descriptions along with electrical and borehole geophysical logs provide the basis for subsurface mapping throughout the Rockies and around the world. • This data allows us to define source, reservoir, and trap mechanisms for both conventional and unconventional oil and gas plays and prospects. • Drill stem tests and production tests for individual wells and formations allow geologists to look at subsurface fluid dynamics and trace the oil through the rocks. • Production data obtained from governmental agencies or service companies. Field studies published by trade organizations. • • Geologic studies conducted by government agencies. • Satellite imagery. • Historical 2D and 3D shelf seismic data. • Aeromagetic and gravity surveys. Geochemical studies (surface and subsurface). • • A fast computer with robust mapping package is paramount! Impact Energy Resources, LLC 8
So What is a Play? – Geologists and Landmen always talk of Plays! • A play is the complete package of geologic factors or elements necessary for an active Petroleum System that occurs across a wide geographic area in a depositional basin. – Essential elements of a play includes: the presence of source and reservoir rocks; traps; seals; burial history; subsurface temperatures sufficient for maturation and oil and gas generation and migration. All elements need to be placed in geologic space and time such that oil and gas accumulations may occur. Plays result from regional geologic studies over long time frames (we stand on the shoulders of those who have gone before us). – A play is also a series of related prospects! Impact Energy Resources, LLC 9
So What is a Prospect? Geologists and Landmen are big on these too! • A prospect is, in my opinion, a geologic lead, concept or idea where you own an economic interest e.g. Leases, Minerals, or Royalty. If the leases are not available or you cannot obtain an interest in the idea then the idea goes back to the lead pool or geologist’s inventory! We usually have a large pool of ideas! • A prospect is also a geologic lead or concept that can make you or your company a profit, sometimes by accident ( see Jed above)! • A prospect or series thereof is a subset of a play (see above). Impact Energy Resources, LLC 10
Geology – Today’s Game Changers! • Horizontal Drilling - been around since early 90s. • 3D Seismic – better imaging of the subsurface reservoir package and steering horizontal wells. • Multi-stage completion- Engineers are enhancing the available porosity and permeability of tight oil and gas reservoirs across the Shale Basins of the US; e.g. the Niobrara Shale, Bakken and Threeforks. • Our ability to learn, innovate, adapt and survive. – With each new hole we drill we are always learning in this business! Impact Energy Resources, LLC 11
Our laboratory- Unconventional Resource Shale Plays Rocky Mtn Region Oil and Gas Map – 15 Basins with established shale resource play production. Impact Energy Resources, LLC 12
Elements of a Oil and Gas Accumulation • Favorable Stratigraphy in a depositional basin that includes: – Reservoir Rocks (sandstones, limestones, dolomites, and shales) • Porosity and permeability sufficient to carry and hold hydrocarbons and transmit oil and gas. (Gotta have holes that are connected!) – Source rocks • Deposited in anerobic (low oxygen), stagnant conditions. • Rich in total organic matter (TOC) such as dark colored shales, limestones and dolomites. • Which have experienced burial and thermal history sufficient to generate oil and gas by the conversion of the organic matter to kerogen and ultimately to oil and gas! • Trap mechanisms- Containers for oil and gas in the subsurface! – Conventional- old style or yesterdays objectives! • Stratigraphic – porosity and permeability pinch-outs. • Structural – domes, anticlinal folds, and fault traps – Unconventional – new style- Today’s objectives • (Basin Centered Continuous Accumulations) Impact Energy Resources, LLC 13
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