Taking a bit of a different tack, TPH got the opportunity to hear from the lead executive of one of the global supermajors’ unconventional business units. Mr. Guidry, a 35-year Shell veteran, described how the company’s approach differed from its peers – rather than physically separate the organization or acquire an independent and bolt it on as others have done, Shell has elected to fully integrate its unconventional unit in the global structure. Shell’s perceived slow start was a function of the objective recognition that building unconventional capability was the critical first step to success. Greg also pointed out that his team is not trying to distance from its integrated parent, but rather take advantage of the strengths global scope and scale provide – balance sheet, technical reach and bench strength, etc. The reverse is also true – Shell’s conventional businesses are adopting new practices learned from Mr. Guidry’s unconventional team. Lastly, while much of the conversation with outside stakeholders today is decidedly US Lower-48 focused (particularly Permian), there is clear enthusiasm on Shell’s part to “skip the learning curve forward” in high potential Tight Liquids Shales (or TLS, in Shell parlance) internationally, with Argentina’s Vaca Muerta shale high on that list.
Jeoffrey Lambujon, Matt Portillo, Greg Guidry, Ryan Birse, Michael Clingan, Sameer Panjwani, Oliver Huang
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