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hi and welcome to aisle 101 the podcast my name is Doug Stetzer and I'm content and community manager for ekt Interactive this first episode of our microbes to market coverage will be discussing the upstream segment of the oil and gas industry this content was taken from our fundamentals of upstream ebook which is available in the free members content library at WWE KT interactive comm this upstream overview includes segments on exploration and production or EMP drilling and unconventional techniques upstream business characteristics important players and participants in upstream and finally some discussion on an important and often misunderstood segment known as oilfield services so what is upstream most oil and gas companies are organized according to business segments assets or function the upstream segment of oil and gas is also known as exploration and production or EMP because it encompasses activities related to searching for recovering and producing crude oil and natural gas upstream is all about wells where to locate them how deep and how far to drill them and how to design construct operate and manage them to deliver the greatest possible return on investment with the lightest safest and smallest operational footprint in fact the EMP sector should probably be called the EDP sector because you can't find oil if you don't drill wells let's start with exploration which involves the operator obtaining a lease and permission to drill from the owner of onshore or offshore acreage thought to contain oil or gas then the operator must conduct geological and geophysical surveys to select the first well site to explore for and hopefully find economic accumulations of oil or gas this well is often called a wildcat well drilling is physically creating the bore hole in the ground that will eventually become a productive oil or gas well this work is typically done by rig contractors and service companies in the oilfield services business sector on a well site there can be as many as 30 to 40 different service contractors providing expertise to the operator wells can be relatively simple or unbelievably complex wells can be totally vertical for miles or both deep and horizontal there are also highly complex J and s configurations with numerous branches or laterals emanating from the original or mother hole these are called deviated wells now let's discuss production where reserves are converted to cash by maximizing the recovery of hydrocarbons from subsurface reservoirs essentially production is efficiently bringing the hydrocarbons to the surface and treating them as needed to make them marketable so that's the basics of EMP we will drill deeper into each of these operations in the complete oil one course at a later date now let's talk about unconventional resources clearly the hottest topic in oil and gas over the last decade unconventional resources are defined as any resource extracted or produced by any method other than the traditional vertical or slightly deviated well three main sources of technological breakthroughs that have made unconventional developments profitable include horizontal drilling hydraulic fracturing and subsea engineering especially deep water production horizontal drilling is not new but the technology has matured quickly horizontal wells reduce the size of the drill pad footprint and enable production along the length of a reservoir today some horizontal sections can exceed seven miles hydraulic fracturing or fracking is the process of injecting water chemicals and sand into wells under very high pressures the resulting fractures in surrounding rock formations allow for microscopic hydrocarbons to be recovered but even with all the talk and public awareness of shale and fracking some of the largest oil and gas discoveries continued to be found in the deep water of the coast of Africa South America and the Gulf of Mexico recently a very large discovery was made in the Mediterranean off of the coast of Egypt deep water subsea engineering innovations have made production economic from water depths exceeding 10,000 feet this podcast episode is brought to you by e Katie Interactive's oil 101 a free introduction to oil and gas within this free members only content area you'll find ebooks on oil and gas industry fundamentals relevant articles on key oil and gas topics and a growing body of digital learning content claim your free membership and join the oil 101 learning community at WWE Katie Interactive calm today it is important to note that there are four key business characteristics of upstream it is a high-risk high-return segment it is highly regulated is impacted by global politics and it is very technology intensive the upstream industry is arguably the most complex of all oil and gas business sectors there are many risks and unknowns in the exploration process often hundreds of millions of dollars and many years are spent before an oil and gas field becomes productive especially offshore the upstream segment is regulated in terms of production access to reserves pricing and Taxation and more and more stringent environmental regulations upstream is a global business politics between producing nations and major oil companies can be very complicated and finally as we've seen in the last decade with developments of unconventional prospects upstream is extremely technology and thus capital intensive so who are the main players in upstream the four main categories of participants in the upstream sector are the majors the NoCs independence and oilfield services companies major oil companies also called integrated oil companies also operate assets in other segments of the industry these companies include the prominent global brands that you are familiar with including Exxon Mobil BP Chevron and Shell national oil companies are those industry participants owned and managed by governments around the world these includes Saudi Aramco and Saudi Arabia Pemex and Mexico and many others and we'll include a link a list of all the NoCs and the program notes to this podcast independence exists in each segment of the oil and gas industry what makes them independent is that they are not integrated into other segments independence in the upstream are those a and P companies that concentrate solely on finding and producing oil and gas examples include Apache and Anadarko but there are many others oilfield services companies are important and often misunderstood part of the upstream operations this sector includes those companies that provide the specialized equipment services and technical skills needed for exploring drilling completing testing producing and maintaining crude oil and natural gas wells oilfield services and supply companies do not typically produce oil and gas or own the assets that contain hydrocarbon reserves and as we mentioned earlier at a typical well site there could be 30 or more different oilfield service companies handling the mechanical technical and analytic operations needed to drill and complete the well so thanks for listening and we hope you've learned a few things about the upstream segment of the oil and gas industry be sure to share that this as you see fit and review us on iTunes if you have a chance your feedback really helps us improve as we move forward if you want more information about our oil 101 microbes to mark its content go to WWE ket interactive comm and register to access our free content library thanks again and we'll see you next time