Search Results (6)

Crossfield is located in the province of Alberta in Canada and is one of the most well-known reservoirs of hydrocarbons. Since the 1950s, there has been continuous exploitation of more than 10 formations such as Cardium, Viking, Ellerslie, Elkton, Shunda, and Wabamun. Because of its location near the Foothills, the southwestern part of the Western Canada Sedimentary Basin, the Crossfield area has a complex geology and relatively deeper reservoirs, therefore requiring an in-depth examination of each formation. In this study, geological, technical, and economic analyses were performed on each formation within the 10 sections of the study lands in the Crossfield area. As the result of the study, there was potential for drilling 48 horizontal wells in the Cardium A zone and the Viking formation. In addition, it turned out to be economically feasible even at the WTI price of 60 dollars per barrel considering Alberta’s Royalty Framework, which is determined by the production rate and the price of oil, and the Horizontal Oil New Well Royalty Rate feature. A further study is required to investigate the exploitation potential of the Cardium B zone, the Ellerslie, and the Elkton formations in this area. Full article

The market of oil and gas has many particularities, once it is a natural resource of great value. Due to the fact the resource is owned by nations, it is highly regulated. The volumes traded are high; for this reason, their calculation needs to be performed very carefully, meeting not only the uncertainties and metrological control, but also particularly the tracking of the activities. The technical regulations of measurement adopted by the countries carefully follows many guidelines. The reason is that the established volumes directly affect the calculation of royalties and profit sharing in concession agreements or even a simple ownership shift of the products. Therefore, it is an application with a lot of responsibility, involving a large amount of equipment, software, and execution processes. Therefore, the transfer of data among different entities requires total transparency and security. Blockchain technology, which has been initially developed for the financial market, presents itself as an alternative to ensure reliability, from the sensors in the field to the effective generation of the Monthly Report on the petroleum and natural gas production unit, which is the basic document for determining the remuneration of the owners of the product. This paper presents a technical solution for creating the blockchain validation blocks by the MAC (Media Access Control Address) addressing, which in turn comes from the communication boards of the flow computers and from the Supervisory Stations. There are limitations to extending this solution to the level of field sensors due to the current links of communication, but also because of the way that historical, events and alarm databases of the flow computers are generated. Once these devices exhibit an elevated degree of safety in their operation, the solution herein presented adds a high level of reliability in the fiscal measurement and/or custody transfer. Full article

There are numerous risks associated with mining and owning cryptocurrencies, and exploring and producing oil and natural gas are highly risky, costly, and controversial. A marriage of digital mining and exploring and producing oil and natural gas has reduced the major risks and costs for both the crypto miner and the petroleum industry. On the one hand, crypto mining requires an enormous amount of electricity, which is not environmentally friendly. On the other hand, when drilling for petroleum resources, natural gas is often discovered, but due to a lack of resources or pipeline availability, a massive amount of natural gas is vented into the atmosphere or burned (called flaring). Today, however, this normally wasted gas (called stranded natural gas) is being used to create cheap electricity for mining server containers stationed near drilling rigs, which are used to create cryptocurrencies. This results in reduced CO₂ emissions, lower costs for drillers, and greater royalties going to landowners. Full article

Lavender species are widely distributed in their wild forms around the Mediterranean Basin and they are also cultivated worldwide as improved and registered clonal varieties. The economic interest of the species belonging to the Lavandula genus is determined by their use as ornamental plants and important source of essential oils that are destinated to the production of cosmetics, pharmaceuticals and foodstuffs. Because of the increasing number of cases of illegal commercialization of selected varieties, the protection of plant breeders’ rights has become of main relevance for the recognition of breeding companies’ royalties. With this aim, genomic tools based on molecular markers have been demonstrated to be very reliable and transferable among laboratories, and also much more informative than morphological descriptors. With the rising of the next-generation sequencing (NGS) technologies, several genotyping-by-sequencing approaches are now available. This study deals with a deep characterization of 15 varietal clones, belonging to two distinct Lavandula species, by means of restriction-site associated DNA sequencing (RAD-Seq). We demonstrated that this technology screens single nucleotide variants that enable to assess the genetic identity of individual accessions, to reconstruct genetic relationships among related breeding lines, to group them into genetically distinguishable main subclusters, and to assign their molecular lineages to distinct ancestors. Moreover, a number of polymorphic sites were identified within genes putatively involved in biosynthetic pathways related to both tissue pigmentation and terpene production, useful for breeding and/or protecting newly registered varieties. Overall, the results highlighted the presence of pure ancestries and interspecific hybrids for the analyzed Lavandula species, and demonstrated that RAD-Seq analysis is very informative and highly reliable for characterizing Lavandula clones and managing plant variety protection. Full article

Hydrocarbon exploration and production activities are basic to the functioning of the oil and gas industry, while concession contracts and fees are central concepts in the aforementioned activities. The authors consider several questions regarding these concepts, such as: what is the legislative, institutional, and fiscal framework in certain European countries regarding hydrocarbon exploration and production? What are the major differences between them? Finally, is there room for improvement of the framework in the Republic of Croatia? To answer these questions, the authors contacted some of the relevant institutions and accessed official government gazettes, institution websites, legal aggregators, journal articles, books, and different legal publications regarding the oil and gas industry for several European countries, namely the Kingdom of Norway, the Russian Federation, the Republic of Austria, and the Republic of Croatia. As a result, this paper presents an overview of legislation, institutions, concession contracts, taxes, and fees for each of the aforementioned countries. The authors conclude that the Republic of Croatia could benefit from applying some foreign solutions in its own legislative and fiscal framework, i.e., using a sliding scale for royalty calculation and simplifying some administrative procedures. Full article

Oil wealth can foster social inequality if not properly managed. This is due to the migration of production factors from different economic activities to the oil sector. As a result, unemployment, poverty, political instability, a reduction in development, among other undesirable effects on society, may arise. With that in mind, this research evaluates the government’s role in the socioeconomic development of the oil producing municipalities in Rio Grande do Norte State (RN), the largest onshore producer in Brazil. The research uses panel regression as it allows broad analyses of the space and time dimensions to be performed. In addition, it relies on statistical testing at all stages to make the research analysis more appropriate and consistent. The proposed model revealed better socioeconomic development indicators in municipalities where the local Government made public savings as reserve funds. Furthermore, the results show that appropriate public savings management allows municipal governments to design public policies to provide future generations with socioeconomic benefits, in line with the purpose of royalties. Full article