Growth Value Performance

Gran Tierra Energy Inc. is an international oil and gas exploration and production company headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. The Company currently holds interests in producing and prospective properties in Colombia, Argentina, Peru and Brazil. The Company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration drilling to grow future reserves.

The Basics of Petroleum Engineering

Petroleum engineering is a branch of engineering concerned with the development and utilization of hydrocarbons such as natural gas and crude oil. It also involves the technical analysis and projection of its future development and performance. The growth of the petroleum sector includes the gas and oil industry.

It is originally conducted in geology and mining and focuses on the maximizing the usage and retrieval of hydrocarbons from bodies of water. Petroleum engineering deals with the recoverable volume of resources through the study and exploration of water, gas, and oil at high pressures. Geologists and petroleum engineers work together to determine the development of the reservoir which usually affects the field of economics.

The Petroleum Engineer

To succeed in the industry of petroleum engineering, one must possess knowledge of various disciplines of science such as petroleum geology, physics, economics, geophysics, drilling, chemical engineering, mining and other types of engineering related to the oil and gas sector.

The role of a petroleum engineer is to remove liquid and gas hydrocarbon materials from the soil. The engineer deals with producing, processing, drilling, transporting, and handling these materials while adhering to various economic standards and rules.

The first signs of petroleum engineering was recognized during the 1890’s where geologists examined and studied the oil and water zones from wells to prevent water from reaching the oil-producing areas. This eventually led to the application of technology in the development of the oil industry. Courses on petroleum technology, studies on oil and gas law, and industry practices eventually led to the study of petroleum engineering.

Early studies focused on the drilling issues faced by engineers and how to improve the mechanical process and practices. New methods and technologies were introduced to gain advancement in the field of petroleum engineering.

Petroleum engineering is one of the highest paid sector. According to a 2007 report featured on Forbes’ website, a petroleum engineer is included in the top 25 best paying jobs in the US. However, there is a huge possibility of getting laid off once the oil prices crash down.

During the development stages of petroleum engineering, it was divided into several areas of specialization which became the basis for the different classifications of petroleum engineers. These are reservoir, drilling, production, subsurface and petrophysical engineers.

Division of Specialty

For each specialty, various types of engineers are allowed to participate such as mechanical, civil, chemical, geological and electrical engineers. However, the petroleum engineer specifically integrates all the disciplines into an effective oil and gas system.

A Reservoir engineer maximizes the production of oil and gas through oil recovery procedures, production rates, and well placement. His job is related to the physics of oil and gas distribution. He is also responsible for analyzing the systems, patterns, techniques, production, and forecasting of the oil and gas reservoir.

Drilling engineers are responsible for the technical aspect of drilling production, exploratory, and injection wells. They are accountable for the safety equipment, techniques and directions of the operations with the welfare of the public in mind. This type of engineering was among the earliest application and practice of technology in the oil industry.

Production and Subsurface engineers on the other hand, manage the line between the well and the reservoir including the equipment and methods. The work of the production engineer begins once the well is completed.

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