MANAGING CONFIDENTIALITY AND CONFLICTS OF INTEREST IN A COMPETITIVE ENERGY MARKET

1996 ◽  
Vol 36 (1) ◽  
pp. 594
Author(s):  
P.D. Slattery ◽  
K. Stammer
Keyword(s):  
Natural Gas ◽  
Joint Venture ◽  
Conflicts Of Interest ◽  
Petroleum Industry ◽  
Good Faith ◽  
Energy Market ◽  
Gas Industry ◽  
Competitive Activity ◽  
Exploration And Production

Producers and other participants in the petroleum industry are in the midst of an increasingly competitive energy market. It is now the case that throughout Australia producers of natural gas are competing not just with substitute sources of energy but with one another. No longer do producers only compete for prospective tenements, rather their competitive activity extends from acreage acquisition through to the burner tip. The emergence of deregulation in the gas industry and the opportunities for competitive activity have been discussed at recent APEA conferences.1The aim of this paper is to examine where conflicts between interest and duty may arise between joint venturers who are now directly, or through affiliated companies, competing for marketing opportunities. We examine how and why such conflicts may arise and whether it is possible to manage them while still participating in traditional forms of joint venture exploration, production and in some cases marketing.For example, are producers able to satisfy their obligations of good faith and preserve confidentiality in joint venture exploration and production activities without compromising their ability to independently pursue the marketing of their share of production?

Say-on-Pay

2012 ◽  
Vol 44 (3) ◽  
pp. 128-130 ◽  
Author(s):  
Brent Longnecker ◽  
Kevin Kuschel
Keyword(s):  
Natural Gas ◽  
Commodity Price ◽  
Energy Market ◽  
Shareholder Returns ◽  
Gas Industry ◽  
Say On Pay ◽  
Depressed State ◽  
State Of The Economy ◽  
Natural Gas Industry ◽  
Exploration And Production

With the state of the economy slightly improving and the U.S. energy market experiencing increased exploration and production activities in shale plays, many companies and their investors are riding the wave of increased revenues and profitability. Although energy is succeeding overall, natural gas producers are struggling with the depressed state of the commodity price as a result of the realization that supply is currently greater than demand. As a result, poor total shareholder returns have Institutional Shareholder Services and shareholders unjustifiably calling for drastic changes to compensation. The natural gas industry will experience an uphill battle in the coming months as many companies attempt to avoid a failed say-on-pay vote.

Stakeholder influence and the diffusion of eco-efficiency practices in the natural gas exploration and production industry

2016 ◽  
Vol 10 (1) ◽  
pp. 56-68 ◽  
Author(s):  
Simon Hauser
Keyword(s):  
Natural Gas ◽  
Full Range ◽  
Analytical Framework ◽  
Energy Sector ◽  
Gas Industry ◽  
Content Type ◽  
The North ◽  
Community Stakeholders ◽  
Exploration And Production ◽  
Eastern Usa

Purpose – This paper aims to empirically investigate the motivations behind eco-efficiency sustainability measures of firms active in natural gas exploration and extraction from deep shale formations in the north-eastern USA. Design/methodology/approach – The research design leverages a combination of semi-structured firm interviews with an online industry survey. Instead of pre-defining stakeholder categories, this study uses an emergent analytical framework to ascertain the stakeholder groups relevant to companies in this unconventional energy sector. Findings – Results show that these practices tend to be primarily influenced by internal stakeholders, but that regulatory, community and industry stakeholders also play a role. Managers also assigned a relatively high importance to the role of regulatory and community stakeholders in informing these practices. Research limitations/implications – Though limited in generalizability beyond the energy sector and accounting for rival causal influences beyond stakeholders and managers, the results suggest a close engagement of firms with regulatory and community stakeholders with environmental practices and regulatory framework still in flux. Originality/value – Prior research has not explored the full range of stakeholders relevant in influencing these eco-efficiency practices. Therefore, the authors have a limited understanding whether these practices are primarily internally promoted by firm managers or employees, or whether they are also influenced by industry, community and regulatory constituents. Furthermore, the shale gas industry with recent technological innovations aimed at the core of the business process, presents a rare opportunity to investigate drivers and implementations of eco-efficiency practices.

scholarly journals PLOTTING A DIAGRAM OF NATURAL GAS INTERCHANGEABILITY FOR THE ENERGY MARKET OF GEORGIA

World Science ◽  
2020 ◽  
Author(s):  
Dimitri Namgaladze ◽  
Tornike Kiziria ◽  
Lena Shatakishvili ◽  
Tamaz Ghvanidze
Keyword(s):  
Natural Gas ◽  
Calorific Value ◽  
Energy Market ◽  
Gas Industry ◽  
Natural Gases ◽  
Cost Of Energy ◽  
Gas Market ◽  
Wobbe Index ◽  
The Cost ◽  
First Time

The increase in the cost of energy and the appearance of gases of various qualities led to the fact that calculations in the gas industry began to be made by measuring thermal energy.  To this day, in Georgia, the calculation of the amount of natural gas when paying for the used gas is in cubic meters.  As for the study of processes and parameters in the Georgian gas sector, it turned out that these processes are clearly stochastic.  Therefore, the purpose of the work is to develop criteria for the interchangeability of natural gas, in particular, a diagram of the interaction between the Wobbe index in total proportions of propane and nitrogen equivalent for the Georgian gas market, based on stochastic processes.  Thus, for the first time, an original methodology for plotting the Wobbe Index (calorific value) of interchangeable natural gases supplied to Georgia was developed.

THE GLOBAL WORKFORCE—ACCESSING AND RETAINING SKILLED WORKERS FOR THE UPSTREAM PETROLEUM INDUSTRY

2007 ◽  
Vol 47 (1) ◽  
pp. 429
Author(s):  
A. McKinnon
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil And Gas Industry ◽  
Skilled Workers ◽  
Medium Term ◽  
Line Managers ◽  
Gas Industry ◽  
Global Workforce ◽  
Exploration And Production ◽  
Petroleum Companies

The composition of the global workforce in the upstream oil and gas industry has been affected by a number of converging trends, generated by a combination of demographic, economic and industry factors. While governments and peak industry groups are developing initiatives for young people to train for the industry, human resources and line managers need to adapt company processes to these demographic changes in the short to medium term, not only to ensure adequate supply and continuity of talent, but also to meet corporate targets in exploration and production. This paper outlines these changes, their effects on petroleum companies and strategies employed to adapt to change.

The Standardization of Oil and Gas Law: Transnational Layers of Governance

2021 ◽  
pp. 348-376
Author(s):  
Djakhongir Saidov
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil And Gas Industry ◽  
The State ◽  
Legal Order ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Operations ◽  
Standards And Guidelines ◽  
The Relationship

This chapter investigates the main sources governing international oil and gas operations around the world, with a view to examining whether we are witnessing the emergence of transnational petroleum law (lex petrolea). The chapter explores the nature of governance in the petroleum industry and the extent to which the oil and gas industry is self-governed or governed by the state-made law. It assesses the degree of standardization of governance to determine whether it is so high as to give rise to the emergence of lex petrolea. The main focus is on sources, specific to the oil and gas industry, such as: model contracts, industry usages, standards, and guidelines promulgated by industry organizations and associations. This chapter argues that lex petrolea is not yet a mature legal order. Its sources are best characterized as transnational layers of governance of the international exploration and production operations. As to the relationship between the alleged lex petrolea and the state-made law, it is demonstrated that the two are vitally important to and mutually dependent on each other.

GIPPSLAND—NEW POTENTIAL FROM A MATURE BASIN

2003 ◽  
Vol 43 (1) ◽  
pp. 223
Author(s):  
N.M. Heath
Keyword(s):  
Joint Venture ◽  
South Australia ◽  
Energy Market ◽  
Resource Base ◽  
Southeastern Australia ◽  
Exploration And Production ◽  
Market Opportunities ◽  
Exploration Drilling ◽  
3D Exploration ◽  
Gippsland Basin

It is now 39 years since the first gas was discovered in Bass Strait’s Gippsland Basin. Advances in exploration and production technology mean that today Australia’s longest producing offshore basin is also one of Australia’s most prospective. Gippsland is now producing around 160,000 barrels of crude and 570 million cubic feet of gas per day. To date it has produced more than 3.5 billion barrels of oil and 5 trillion cubic feet of gas and the value of the infrastructure in place is estimated to be around A$16 billion.Australia’s evolving energy market means that gas demand continues to grow. Following the re-structuring of energy markets in southeastern Australia and the installation of new pipeline infrastructure, Gippsland gas now flows to Victoria, NSW, Tasmania and will supply into South Australia from 2004. To meet this growing demand the Esso/BHPBilliton joint venture partners are investing heavily and utilising a vast array of 3D exploration technology to unlock new opportunities. In 2002 they conducted the largest 3D survey ever undertaken in Bass Strait and expect to conduct another in early 2003. A program of exploration drilling is expected to commence in late 2003. With expanded market opportunities and a gas resource base of more than 5 trillion cubic feet, the future looks bright for Gippsland.

Intellectual property in the petroleum production and exploration sector—the other hidden asset

2015 ◽  
Vol 55 (2) ◽  
pp. 447
Author(s):  
Tim O'Callaghan
Keyword(s):  
Intellectual Property ◽  
Joint Venture ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Petroleum Exploration ◽  
Sensitive Material ◽  
Gas Industry ◽  
Production Sector ◽  
Intellectual Property Management ◽  
Exploration And Production

According to IBISWorld (2013), 7.7% of Australia’s A$11 trillion assets are natural resources and 5.4% is intellectual property. Despite this intellectual property is overlooked as a valuable asset in the oil and gas industry. As the means of extraction become more complex, the methods and tools needed for the purpose can give one company an edge over another. Intellectual property rights help to protect that competitive advantage. Companies need to have a strategy for the early identification, management and protection of this asset. Customers, contractors and joint venture partners can create intellectual property ownership issues that must also be identified and properly managed. This extended abstract provides: a framework for establishing a robust intellectual property management strategy for companies in the exploration and production sector; identification of key intellectual property assets of businesses in the sector; a review of industry specific challenges, such as the requirement under WA’s Petroleum and Geothermal Energy Resources (Environment) Regulations 2012 to disclose trade secrets and commercially sensitive material about downhole substances; and, consideration of model agreements used in the sector, such as the AMPLA Model Petroleum Exploration Joint Operating Agreement.

scholarly journals Oil and Gas Industry Financing

1969 ◽  
Vol 7 (3) ◽  
pp. 465
Author(s):  
C. A. Rae
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Exploration And Production ◽  
Oil And Natural Gas ◽  
The Common ◽  
Marketing Operations

The demand for crude oil and natural gas is constantly increasing. To keep up with this demand the oil and gas industry must spend vast sums of. money· to find new petroleum deposits to replenish the depleted reserves. Conventional financing techniques are used to finance the transportation, refining and marketing operations of the oil and gas industry, but the financing of oil and gas exploration and production requires special techniques. This paper discusses the common methods of financing the production end of the Canadian oil and gas industry.

NATURAL GAS TRANSPORTATION AND UTILISATION IN AUSTRALIA

1978 ◽  
Vol 18 (1) ◽  
pp. 192
Author(s):  
T. R. Baker
Keyword(s):  
Natural Gas ◽  
State Government ◽  
Electrical Energy ◽  
Independent Study ◽  
Gas Industry ◽  
Gas Utilization ◽  
Eastern Australia ◽  
Exploration And Production ◽  
Engineering Corporation ◽  
Year 2000

The Pipeline Authority commissioned the Snowy Mountains Engineering Corporation in association with Société Francaise d'Etudes et de Réalisations d'Equipements Gaziers (SOFREGAZ) to conduct an independent study of Australian natural gas utilization and transportation to the year 2000. A summary of the study was published in November 1976 and copies of the full report were made available for review and comment by State Government bodies, gas exploration and production companies, gas distribution utilities and other interested parties.The report concluded that there will be a shortfall in the supply of natural gas for the eastern states before 1990 even if natural gas is not used for those applications for which coal and electrical energy are not suitable alternatives. The report also concluded that a pipeline from Dampier to the Cooper Basin appears to offer an economic means of meeting the natural gas demands of all demand centres to the year 2000.It is obvious from the comment on the report that there are widely differing opinions within the gas industry on the probable demand for, and utilisation of natural gas in Australia. In addition there have been a number of important discussions and developments since the report was completed.The findings of the report have been reviewed in the light of the comment received and the subsequent decisions and developments and it has been concluded that the greatest uncertainty lies in the future availability of natural gas for Australian consumption. There is therefore a need to establish, with greater certainty, the natural gas reserves, particularly in central and eastern Australia so that future planning can be based on reliable data.

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