April 19th - The State of the Energy Industry
Our speaker on April 19th was our own Rotarian Bob Goldsmith, who talked to us about the Energy Industry in 2017. He provided us with an update on the changes over the last year and Saudi Arabia's attempts to drive out competition by driving down prices. Bob explained how the Permian Basin in west Texas has become the hottest prospect in the U.S when the Permian basin oil and gas producers fought back by becoming more efficient and drilling longer lateral horizontal wells. Bob showed pictures of the various areas in the Permian Basin and also provided information about how Apache Corporation discovered the recent Alpine High field in Reeves County. He explained to us how horizontal wells are drilling in shale plays such as those in the Permian Basin. Bob finished his discussion by reviewing the sources of energy and the pros and cons of each.
