5th Annual CGEF Conference

SEIZING A WORLD OF OPPORTUNITY: Retrench, Retool & Rebuild

CLOSING REMARKS – Terry Strang

CGEF started up 6 years ago and as of now, just hosted our 5th annual conference and I wanted to add, I personally feel that it was a successful one.

Despite these challenging times, we have seen CGEF grow in different ways with new members and participating in various studies with our recent "Going Global" with PSAC and JWN. We have also co-hosted numerous events, and are visible with our CGEF Booth at numerous conferences to promote our Association, member projects and our sponsors.

When we started CGEF, it was to be a matchmaker, helping E & P companies to share opportunities, technologies, experiences and disappointments. This has also grown to help out with connecting other sectors of our industry to the right person or company.

We started up to promote our International industry, who generally works under the radar. We have tried to be "innovative" which has helped us to grow. One of our innovative deals is our partnership with DMG Events, a world class event planner.

We are all aware of the opportunities internationally, and need to continue to promote and encourage our domestic industry to "Think Outside of the Box" or as Bruce Carew says 'for our geologists to keep looking under the rocks'.

I hate to admit, without sounding like I am 90 years old – definitely not in the under 53 category from Mike Lakin's talk, but my very first piece of advice was "Think Outside of the Box" about 36 years ago. This has afforded me with a very rewarding career.

Now, instead of reviewing all of the amazing talks, I want to say that I believe that we accomplished the delivery of the 'Whole Canadian Package'. We covered:

  • Africa
  • Argentina
  • Australia
  • Brazil
  • Bulgaria
  • Columbia
  • Cuba
  • Iran
  • Kazakhstan
  • Mexico
  • Poland
  • Turkey
  • United Kingdom
  • Ukraine

We covered E & P opportunities:

  • Upstream
  • Downstream
  • & Midstream

As CGEF is an E & P forum, our ultimate goal is to help everyone in making the right connections! That includes people, companies, services and governments.

Noted yesterday, Canada is ranked 12 out of 15 countries on Innovation. I personally feel that we would be #1 when it comes to Oil & Gas Innovation. I am not sure that there is anywhere else in the world that has drilled over 15,000 wells in 1 year, and at times, several years in a row.

We are a province that is used to having many curve balls thrown at us, but we usually retrench, retool and rebuild.

INNOVATION was mentioned upwards of 50 times. Innovation, diversification and collaboration are the 3 main objectives that we need to keep in the forefront of our minds. As Geoffrey Cann said, "Become a serial innovator".

Other key statements or words that I thought worth noting to navigate through these challenging times:

  • Innovation
  • Providing insights
  • Uberization – Siri had no clue... should be in Websters Dictionary soon
  • Global collaboration
  • Knowledge train
  • Big data
  • Sustainability
  • Clean technology
  • Global M & A showing signs of increasing.
  • Larger blocks internationally compared to smaller sections of land domestically.

It was said – "determine what your competitive advantage is". This definition has changed from peering through binoculars of the old days. (some of the younger crowd may not know this).

We have access to:

  • Quality talent
  • Services
  • Experience
  • Equipment
  • Ideas
  • Innovation

We need to prepare and position. Although everyone has their guess as to when oil prices will go back up, Mr. Schachter's shock talk this morning, backed with facts and global statistics, indicated a cautious recovery. As an optimist, I personally agree that we will see a Big Boom in the second quarter of 2017. There is a silver lining ahead but it will take some inner and outer strength and determination to realize the value.

I liked Tom's quote from Ghandi "Be the change you want to see in the World".

Lastly, once again... thank you to all of our sponsors. Secondly, I would like to thank several of our guests that have attended all 5 of our conferences. Third, I would also like to thank everyone who travelled from some very far distances; Australia, United Kingdom, USA, Turkey, Vancouver, Toronto & Ottawa to be with us. Thanks to Dr. Ian Moffat, our conference director, and Steve Farner and JC Lanciault along with DMG for all of your hard work on this conference. We have several people who are involved in our group, Directors, Advisors and volunteers who have worked tirelessly. In addition, there are numerous others to thank but too many to list – and it is cutting into our Happy Hour.

Stay with us, check out our website, cgef.org Follow us on LinkedIn and Twitter. We have some real exciting things coming up.

Thank you and enjoy a drink on CGEF. Drink responsibly and hope to see you next year.

2016 CGEF Conference Sponsors

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