Could the price of oil and gas actually be relatively stable for the next few years? That would just feel strange, as most of us are used to volatility in our industry. The US Energy Information Administration has indicated that the Brent spot price for oil will average $60/bbl this year and $61/bbl in 2019, with WTI being $4 lower for the next two years. Hopefully with the new LNG ports coming on line, the natural gas prices will rise. EIA forecasts $3.20/MMBtu for the rest of 2018 and $3.08/MMBtu for 2019. Let's hope it happens as predicted.
Thanks to Rusty Jackson for arranging our half day seminar with Dr. Stephen Sonnenberg on Mudrocks. It was so interesting and applicable. Rusty has done a great job finding speakers for our society this year.
Instead of our luncheon this month we decided to focus on our Tech and Prospect Expo, Tuesday, March 27th, from 8:30-3:30 at Harvey Hall Convention Center. We have two excellent speakers lined up. At 10:30 am Dr. Thomas Ewing will speak. Tom is a renowned geologist with over 37 years of experience in oil field exploration and research. He has spoken and written extensively, particularly about the Gulf Coast and Texas, he has received numerous awards for his work. In 2016 he completed the book “Texas Through Time” which is beautiful enough to remain on my coffee table and is still a very useful reference guide to geology in Texas. At 1:30 pm our own US House Representative, Louie Gohmert, will speak. Our seven-term representative is always an advocate for the oil and gas industry. Don’t miss our traditional ice breaker the night before Monday, March 26th 5:00pm at Coyote Sam’s. Register on our website for a booth or to attend.
Other events to put on your calendar:
- Shreveport Geological Society Geology and Wine dinner. I highly recommend this event if you like wine. I went last year and wouldn’t miss it this year. Kevin Hill and the Shreveport Petroleum Club do a great job, lots of fun!
- The Energy Summit of Northeast Texas, April 5th, 2018, 11:30-1:30 at the GABC Crosswalk Conference Center. It is sure to be informative.
- ETGS 7th Annual Skeet Shoot, Saturday, May 5th. Sign up now on our website to sponsor or shoot. A great time for the whole family.
- AAPG Annual Convention in Salt Lake City, Utah, May 20th to 23rd.
- GCAGS Convention in Shreveport, CALL FOR PAPERS AND ABSTRACTS deadline is approaching. Make your submission soon! Our GCAGS historian is also encouraging members to submit an abstract about an interesting historical petroleum event, person, etc. in our area. https://ww4.aievolution.com/gca1801/.
Remember no luncheon this month, see you at the Expo.
President, East Texas Geological Society