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The exploitationist has a full staff of engineers, geologists, landmen, and accountants. He is familiar with and has participated in most of the new technology: 3D seismic, horizontal drilling, CO2 flooding, and so forth. In addition, he is capable of drilling wells very cheaply and has very low overhead. I like to think that my company, Henry Petroleum Corp., is an exploitationist. The exploitationist is willing to take some risks but does very little pure exploration.
The second type of company, the depletionist, is much different from the exploitationist. A depletionist has virtually no technical staff. With his low overhead he is able to operate wells much cheaper than either the major oil companies or the exploitationist. He will nurse wells along and pay close attention to them but does not have the technical staff to operate waterfloods and CO2 floods or to conduct 3D seismic. The depletionist is risk-averse. Independent operators must decide whether they will be exploitationists or depletionists. There is little room for compromise between the types. You can be either an exploitationist with a large technical staff or a depletionist with very little, if any, technical staff; you can’t be both.
O&G Journal, November 2007
Words and expressions
| trend | направление, тенденция |
| to prosper | преуспевать, процветать |
| to wither on the vine | остаться нереализованным |
| to reflect | отражаться |
| cycle | цикл |
| mature | высокоразвитый |
| low-return properties | |
| to shift | менять, перемещать |
| core properties | основная собственность |
| division | отдел, подразделение |
| void | пустота |
| long-running | долго играющий |
| curve | кривая |
| approximately | приблизительно |
| to coincide | совпадать |
| to favor | помогать, содействовать |
| to waterflood | заводнять |
| to install | устанавливать |
| depletion | уменьшение, истощение (ресурсов) |
| plugging | тампонирование, закупоривание |
| efficiently | эффективно, рационально |
| widespread | широко распостраённый |
| to be adapted to | быть адаптированным к чему-либо |
| overhead | отбираемый с верха (колонны); надземный (о трубопроводе) |
| landmаn | рабочий |
| virtually | фактически, в сущности |
| nurse | экономно вести хозяйство; беречь |
| risk-averse | не расположенный к риску |
Exercise 9. Answer the questions.
- Did you find the explanation of the terms “the exploitationist”, “the depletionist” in the text? What were you right/wrong in?
- Can you state the difference between these companies now? Give a detailed answer.
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