Enverus Blog

Insights across the energy value chain

I spent the last week in Singapore at the South East Asian Petroleum Exploration Conference, where the motto was “A Drinking Society with an Exploration Problem” with Nick Robinson, Malcolm Steel, Mike Dyer, and Mark Harris and his team to announce the unveiling of DI International. Wow.  What a time.  The SEAPEX folks really know how to throw a party!  I cannot tell you how excited we are here at Drilling Info to partner with such a fine group of folks as Nick et al.  Mark Harris, a remarkably nice fellow, started Geo Solutions Asia out of Singapore three years ago.  He joined the DI International team and is now our anchor in this very exciting and increasingly important part of the world. Most of the exploration and production takes place offshore, with wells ranging from $15 million to over $100 million to drill and complete.  Depending on the country,  government takes range from a tax/royalty system like we have here to cost-recovery contracts where the takes can exceed 80%.  Players range from National Oil Companies, Majors, Large Independents to Small Independents… although “small” there is a lot larger than “small” here.  Although some really smart folks get by cycling $20-30 million, $200 million looks like the price to play and not lose on a portfolio basis as a simpleton. Jakarta, Indonesia is home to over 150 oil companies, where Kuala Lampur (or KL), is home to 20-30.  Singapore is the HQ and staging area for most of the various drilling and service companies.  Singapore is a fascinating and clean amalgam of Chinese, Indonesian, Indian, and “Straits” Chinese.  Many refer to it as Disney Asia, since it is so commercialized, modern, and clean.  I am going to re-read Yergin’s book “The Commanding Heights” to see what he concludes about this island-nation, because clearly things work here where they do not elsewhere. I had my obligatory $23 Singapore dollar ($16 or so US dollar) Singapore Sling at the Long Bar at the Raffles Hotel. Although I had to wash it down with Irish whiskey to get the cloying sweet taste out of my mouth. Our initial product is an internet platform and GIS layer delivery expansion of Mark’s amazing scouting service with maps and well information over the last three years.  Mark’s team keeps up with new licensing, farmouts, exploration drilling, rigs, rig rates, and more for the myriad of SE Asian basins on a daily basis.  We have some exciting data enhancements and functionality we plan on rolling out over the next year to the 30+ existing customers Geo Solutions Asia already has! A real treat was running into old friends that I had no idea were working in the region… Gary Guthrie, now VP Exploration for Marathon Indonesia, Mark Forsyth, now with PGS, Joe Lambiase, who is now President of SE Asia section of AAPG, Gene Nosal, now with Geokinetics in Dubai,  and dozens of new friends.  All in all, a really great fraternity of folks I enjoyed immensely, and with whom I am proud to be associated.  Special Kudos (and apologies) to Phil Hollands of Mitra, Joey Yeow of Nexus, and Dee Patterson of Moyes who “benefited” not at all from my golfing skills…

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Allen Gilmer

Allen Gilmer is the Co-founder, Chairman and CEO of Drillinginfo. Allen is active in all aspects of Drillinginfo’s new product development and is widely recognized for his industry leadership and vision. He holds several patents in the field of multi-component seismology. He received his Bachelor of Arts in Geology from Rice University and his Master of Science in Geology from The University of Texas at El Paso. Follow him on Twitter @allengilmer.