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Deloitte's fourth annual Oil & Gas Reality Check presents five trends affecting the oil and gas industry globally and discusses the direction these trends may follow.

SPE welcomes 83 members into the Legion of Honor, which celebrates 50 years of -consecutive membership in the Society. Each honoree becomes dues exempt and receives a certificate marking the milestone. The honorees are listed below under their respective sections.

Jeff Spath is a member of the Schlumberger executive management team as vice president of industry affairs and the 2014 SPE President. He will take office during the 2013 SPE Annual Technical Conference and Exhibition.

Since its inception 55 years ago, SPE has remained constant in its mission to collect, disseminate, and exchange technical knowledge and to provide opportunities for professionals to enhance their technical and professional competence.

New ventures supported by Surge Accelerator, a company that offers financial support, training, and advice from mentors, are creating software to improve oil and gas operations.

Not only are individual wells challenging, but most are part of a complex reservoir network that must be managed over an extended period.

The oil and gas industry can enhance safety practices by developing shared guidelines for work control, isolation standards, risk assessment, and safety observation programs.

The discovery of additional unconventional resources, new oil recovery techniques, and more university collaborations have led to Saudi Aramco's record performance and increased technical capabilities.

Universities are working on some of the oil and gas industry's most challenging hurdles to develop new technologies and techniques to meet the increasing global demand for energy.

Initial forecasts for 2014 predict continued growth in global oil supply, relatively moderate demand, and a potential softening of oil prices.