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The oil and gas industry should pay more attention to mature vertical wells but it first must consider technology and cost.

This year’s papers provide examples of efficiencies that have been brought about in coiled-tubing operations. The papers demonstrate how problem-solving techniques have been applied to improve such aspects as on-site processes, fit-for-purpose equipment, and more-effective treatment placement.

Last year, SPE created a task force to study the topic of climate change and to determine if a public position statement should be created. After a year-long review, it recommended that we not develop a statement on climate change, which was accepted by the SPE Board of Directors in March.

When oil prices began to fall rapidly in the last half of 2014, the impact was quickly felt in all of SPE’s programs. Our magazines were affected first by a reduction in advertising as companies reduced their marketing budgets.

Significant progress in cost reduction has been made in the industry following the price downturn, not only in the direct cost of construction and operations but also through a determined drive to simplify and streamline new projects in concepts selected for facilities and wells.

Public and government concern over unconventional oil and gas production continues.

Tight formations are candidates for hydraulic fracturing as the default. However, the solubility of carbonate by various chemicals provides opportunities to extend the well drainage radius effectively without the intensive equipment, material, and infrastructure demand of hydraulic fracturing.

We have seen in recent years many technological advancements in tubular-manufacturing technology. Tubulars also have become part of the data-transmission network and slowly will converge with the data-handling and data-transmission systems.

The budget ensures continued support of the offshore energy industry’s safe and responsible operations providing for secure and reliable energy production for America’s future.

Canadian regulators are formally proposing rules to reduce methane pollution from the oil and natural gas sector.