Questerre Energy

Mike's Blog

Jun
26

Unrelated things

Three things caught my eye this week that have nothing to do with each other, but I strung them together any way. First the Oil and Gas Services Association of Quebec released 'Debunking Durand'. I don't try to imply  to anyone that I am a geologist.  However, I have learned a couple of things about geology after a 20 plus year career in oil and gas.   Like for example how to find things like Utica natural gas.  Of 31 wells drilled in the Utica only 10 have found high rate and high pressure natural gas.  This is the Questerre standard for success and all ten wells are in the geological setting that I founded Questerre to acquire.  Or like for another example, I learned how to write and publish a peer reviewed paper in Marine and Petroleum Geology. Mr. Durand doesn't speak of drilling a successful well or publishing a peer reviewed paper on geology using his hypothetical model.  Debunking Durand from OGSAQ explains why. Second a poll was released saying that 68% of Quebecers are in favor of the heavy oil industry (french only). Alberta may be the biggest producer of heavy oil in the country but Quebec is the biggest consumer.  Quebec imports its, literally bottom of the barrel bunker fuel oil, from places like Venezuela.  It's another example of when you say no to one thing you are saying yes to something else.  I imagine it's a proud moment for natural gas opponents. Finally, Exxon Mobil announced it is exiting Polish shale gas.  Conoco Phillips is also looking for someone else to take their permits forward there.  No one has been able to find high pressure - high rate natural gas like we found in some of our wells in Quebec. Other PhD's in Quebec have written books on how easy shale gas is.  Their point was that oil and gas companies weren't taking any risk and so shouldn't keep the benefits.  They said everyone knows where it is and the new technology gets it out - easy as that.  Perhaps they should send their books and sage advice to Exxon Mobil and Conoco Phillips who don't seem to get how easy it is. It's ironic that Poland who has ample coal can't find the natural gas they really want with the help of Exxon Mobil and Conoco Phillips.  While at the same time Quebec, who has natural gas so easy to find, even a PhD could do it, prefers to keep its imported heavy oil.

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