Events

Date: Thursday, March 19th, 2026
Time: Wine served at 11:00 am  |  Lunch & Lecture starts @ 11:45 am to 1:00 pm
Venue: Petroleum Club of Houston, 1201 Louisiana St, Houston, TX 77002

Mature oil fields—often defined by more than 25 years of production, water cuts approaching 95%, outdated infrastructure, and limited market access—still account for as much as 80% of global oil production, or roughly 89 million barrels per day. Despite their scale, many of these assets suffer from poor record-keeping, obsolete recovery methods, and aging subsurface models. Yet they frequently contain low-risk, shallow reservoirs with relatively low recovery costs. Even modest improvements, such as a 1% increase in recovery factor or small reductions in lifting costs, can materially lower breakeven prices. Conservative estimates suggest 15–30 billion barrels of remaining reserves in select mature basins.

This study argues that revitalization lies in re-evaluating the subsurface with modern tools and geological thinking. Many mature assets have not benefited from advancements in 3D seismic imaging, chronostratigraphic mapping, or fit-for-purpose reservoir modeling over the past two decades. Engineers are often left managing antiquated geological models, despite subsurface heterogeneity being the primary control on field performance. By applying sound regional petroleum systems analysis, sequence stratigraphy, and a bottom-up, field-driven geological approach, operators can unlock overlooked potential and extend the economic life of mature oil fields.

*** 2026 Season Luncheon Pass Holders PLEASE RSVP at bottom of event page along with registration. Cost will be $0 but it lets us know you're coming. ***

**Early-bird registration ends Monday March 16th at NOON.
Late / walk-in registration tickets will be available for $65 for both members and general admission**