POPULARITY
Islay Baptist Church - Andrew Burnhamno00:22:22What is our mission - 6 Evangelism
Communion is about us, as a body of believers, coming equally together to remember how Jesus sets us free from our sins. 17Now in giving this next instruction I do not praise you, because you come together not for the better, but for the worse. 18For, in the first place, when you come together as a church, I hear that divisions exist among you; and in part, I believe it. 19For there also have to be factions among you, so that those who are approved may become evident among you. 20Therefore when you come together it is not to eat the Lord’s Supper, 21for when you eat, each one takes his own supper first; and one goes hungry while another gets drunk. 22What! Do you not have houses in which to eat and drink? Or do you despise the church of God and shame those who have nothing? What am I to say to you? Shall I praise you? In this, I do not praise you. 23For I received from the Lord that which I also delivered to you, that the Lord Jesus, on the night when He was betrayed, took bread; 24and when He had given thanks, He broke it and said, “This is My body, which is for you; do this in remembrance of Me.”25In the same way He also took the cup after supper, saying, “This cup is the new covenant in My blood; do this, as often as you drink it, in remembrance of Me.” 26For as often as you eat this bread and drink the cup, you proclaim the Lord’s death until He comes. 27Therefore whoever eats the bread or drinks the cup of the Lord in an unworthy way shall be guilty of the body and the blood of the Lord. 28But a person must examine himself, and in so doing he is to eat of the bread and drink of the cup. 29For the one who eats and drinks eats and drinks judgment to himself if he does not properly recognize the body. 30For this reason many among you are weak and sick, and a number are asleep. 31But if we judged ourselves rightly, we would not be judged. 32But when we are judged, we are disciplined by the Lord so that we will not be condemned along with the world. 33So then, my brothers and sisters, when you come together to eat, wait for one another. 34If anyone is hungry, have him eat at home so that you do not come together for judgment. As to the remaining matters, I will give instructions when I come. - 1 Corinthians 11:17-34
“For there is nothing hidden except to be made visible; nothing is secret except to come to light.” Mark 4:22What a fascinating little line in the Gospel for today! What does this line mean? Though many have offered various commentaries upon the meaning of this line, let’s turn to the Catechism of the Catholic Church for some insight:In the presence of Christ, who is Truth itself, the truth of each man’s relationship with God will be laid bare. The Last Judgment will reveal even to its furthest consequences the good each person has done or failed to do during his earthly life… (CCC #1039).This passage comes from the section on “The Last Judgment” rather than “The Particular Judgment.” The Particular Judgment will come for all of us at the moment of our passing from this world. It will be an accounting of our sins and virtues before God in a personal and private way. But the Last Judgment will come at the end of time and should be seen as a universal judgment upon all in a very definitive and public way. Thus, this line from the Catechism seems to suggest that both our good actions and evil ones will be revealed for all to see.If the Scripture passage above, as well as the passage from the Catechism, are properly interpreted to mean that during the Last Judgment even our deepest sins, including those that have been forgiven through the Sacrament of Confession, will be made manifest for all to see, this idea can, at first, be a bit frightening. But it shouldn’t be. It should be liberating.If every action of our lives, both good and bad, will be made manifest for all to see at The Last Judgment, then this will result in one thing and one thing alone for those who are in Heaven: the glory of God and much rejoicing! In other words, if God reveals every sin we have committed, then He will also reveal our repentance from those sins, the purification we endured, and the forgiveness we received. Therefore, those who make up the Communion of Saints will not look upon us with judgment; rather, they will glorify God in the same way we glorify God and thank Him for His abundant mercy and forgiveness. We must always remember His forgiveness and continually rejoice in that fact. Therefore, if all truly is made manifest, then it will be so that we can all rejoice together in the incredible mercy of God and can look at each other with gratitude for all that God had done for the other.Reflect, today, upon the possibility of that glorious moment. Imagine the freedom you will experience by allowing God to share the deepest sins and the deepest virtues of your life with all who share Heaven with you. Shame will be gone. Judgment will be gone. Rejoicing and gratitude alone will remain. What a glorious moment that will be!My glorious Judge, I thank You for Your mercy and forgiveness in my life. I thank You for freeing me from all sin. Please continue to purify my soul and free me from even the attachment to all sin. May I never forget all that You have done for me and may Your mercy become the cause of my eternal rejoicing and Your eternal glory. Jesus, I trust in You.Source of content: catholic-daily-reflections.comCopyright © 2020 My Catholic Life! Inc. All rights reserved. Used with permission via RSS feed.
Welcome to Episode 73 of Caught My Ear! This is our first episode of 2021 and we're so excited to be back having a chat about all things music.This week, we introduce our new What's Trending segment. From this week onwards, we will discuss the biggest music trends (whether that be news, new releases or significant events) in our new segment. This does mean that we won't have a dedicated news section anymore. But don't fear! The news won't go away. It'll just be more focused and relevant to what we think our listeners will find interesting.So in saying that, this week, we delve into the trend of Olivia Rodrigo's debut song 'Drivers Licence' and how significant its impact really is. We also go over our tracks of the week. Enjoy!⏯ PLAYLISTS ⏯Spotify:https://open.spotify.com/playlist/1R9ZY1ZLU8o3BVEOOP3mAQ?si=If0o-ngbST-QYiU8HcwsKg YouTube:https://youtube.com/playlist?list=PLBlelo98WNb70dXfxBpw3H_601DaH0DmR⏱ TIMECODES ⏱Song of the Week: 0:22What's Trending: 6:02Under a Rock: 13:25Caught My Ear: 20:45
The current Friends From Work "rewatch" concludes with Spider-Man: Far From Home just before the new "watch" of WandaVision takes over. Movie intro: 6:15What worked: 8:22What didn't work: 41:45
Neil and Zach talk about the faults of the ways we are taught to love in our relationships. Learn about the healthiest ways you can show up while supporting individuality. Why is it important to open up your mind for yourself & others? Because the other side carries SO MUCH MORE than you can ever perceive in the present. "Love wants what is best for you. It wants your love and it wants your freedom""Our agendas for people and our expectations of people really just highlight the places where we are in perceived lack than any deficit that has to do with those people in their truth""Your greatest strength is not even at its full potential… and that greatness inside of you is just what you can perceive in this moment"Woke Wasted Live event coming Saturday 12/5/2020 @ 11am PST... Book HEREWhy the ways we’re taught to love aren’t always helpful. Moving beyond that opens doors for more because the truest love is about freedom & the expression of the other 5:38 Moving beyond repeating patterns of validation in our relationships by holding boundaries & structure to not act out of our own need for comfort & control 10:21Finding and meeting the needs of both people in each present moment and coming together in that 15:38We are built to become the innate expression of our soul. A parent’s job is to encourage that unique expression through structures and frameworks that free the Self 19:24The best thing we can do to support people and improve any connection is encourage the very best authentic expression of them self that allows them to thrive 22:22What we seek for others shows we we desire for ourselves 24:11How much validation do we need? We often seek quantity, not quality, to continue to feed our own needs and fulfillment 25:33“Open up your mind to the things that could be better than you imagine and don’t reject the things that align themselves on your path…don’t push away the possibility that things could be great” 30:47“Your greatest strength is not even at its full potential…and there’s more beyond that, that’s just the ceiling that you can see, you haven’t even seen the sky beyond it” 36:52Share this episode! :)Check Us OutNeil @neildisyWork w/ Neil www.neildisy.comSoul Truth Alignment Facebook GroupZach @wokebrodocWork w/ Zach www.calendly.com/eli125Off the Record (Akashic) Facebook GroupCreditsMusic-Max Van Soest @ max_fly5Cover Artwork-Kelsey Glass @ k.divine.glassContactWokewastedpod@gmail.com
In this weeks episode George and Bobby discuss yours and their Hardest , Easiest and most Obscure gamesAs always they bring you the latest news and opinions for Nintendo , Microsoft and Sony They also take a look in Stingrays boot and offer up this weeks new releases and the triumphant return of Listeners Stingray What you been playing - 00:02:08News - 00:13:38Feature - The Hardest , The Easiest the most Obscure- 00:29:12Listeners Stingray #stingraysboot - 01:14:16Stingrays boot - 01:29:22What are we hoping to play - 01:46:24
INSTAGRAM: @youth_bioyPSALM READING: Psalm 105:37–45NEW TESTAMENT READING: 2 Corinthians 8:16–9:5OLD TESTAMENT READING: Isaiah 10:20–13:22What was wrong with these people? Were they weird? Was it a cult? What was this strange expression they seemed to use?Of course, I knew that God or even Jesus could be called ‘Lord’, but never before had I heard God referred to so often by a group of people as ‘The Lord’. In the years since then, as I have studied the Bible, I have begun to understand why these Christians, whom I first met at university, used this expression so often: they loved their Lord! Now he is my Lord. I, too, love the Lord.
Acts 21:126 (ESV) Paul Goes to Jerusalem And when we had parted from them and set sail, we came by a straight course to Cos, and the next day to Rhodes, and from there to Patara. 2And having found a ship crossing to Phoenicia, we went aboard and set sail. 3When we had come in sight of Cyprus, leaving it on the left we sailed to Syria and landed at Tyre, for there the ship was to unload its cargo. 4And having sought out the disciples, we stayed there for seven days. And through the Spirit they were telling Paul not to go on to Jerusalem. 5When our days there were ended, we departed and went on our journey, and they all, with wives and children, accompanied us until we were outside the city. And kneeling down on the beach, we prayed 6and said farewell to one another. Then we went on board the ship, and they returned home. 7When we had finished the voyage from Tyre, we arrived at Ptolemais, and we greeted the brothers and stayed with them for one day. 8On the next day we departed and came to Caesarea, and we entered the house of Philip the evangelist, who was one of the seven, and stayed with him. 9He had four unmarried daughters, who prophesied. 10While we were staying for many days, a prophet named Agabus came down from Judea. 11And coming to us, he took Pauls belt and bound his own feet and hands and said, Thus says the Holy Spirit, This is how the Jews at Jerusalem will bind the man who owns this belt and deliver him into the hands of the Gentiles. 12When we heard this, we and the people there urged him not to go up to Jerusalem. 13Then Paul answered, What are you doing, weeping and breaking my heart? For I am ready not only to be imprisoned but even to die in Jerusalem for the name of the Lord Jesus. 14And since he would not be persuaded, we ceased and said, Let the will of the Lord be done. 15After these days we got ready and went up to Jerusalem. 16And some of the disciples from Caesarea went with us, bringing us to the house of Mnason of Cyprus, an early disciple, with whom we should lodge. Paul Visits James 17When we had come to Jerusalem, the brothers received us gladly. 18On the following day Paul went in with us to James, and all the elders were present. 19After greeting them, he related one by one the things that God had done among the Gentiles through his ministry. 20And when they heard it, they glorified God. And they said to him, You see, brother, how many thousands there are among the Jews of those who have believed. They are all zealous for the law, 21and they have been told about you that you teach all the Jews who are among the Gentiles to forsake Moses, telling them not to circumcise their children or walk according to our customs. 22What then is to be done? They will certainly hear that you have come. 23Do therefore what we tell you. We have four men who are under a vow; 24take these men and purify yourself along with them and pay their expenses, so that they may shave their heads. Thus all will know that there is nothing in what they have been told about you, but that you yourself also live in observance of the law. 25But as for the Gentiles who have believed, we have sent a letter with our judgment that they should abstain from what has been sacrificed to idols, and from blood, and from what has been strangled, and from sexual immorality. 26Then Paul took the men, and the next day he purified himself along with them and went into the temple, giving notice when the days of purification would be fulfilled and the offering presented for each one of them.
Yonah's Background:Business director for Madison Specs which is a Cost Segregation firm focusing on saving businesses tax dollars through cost seg studies.In this episode we cover:00:04:09 What is cost segregation?00:07:44 Different amortization schedules on types of assets00:09:18 The cost segregation study process and who has to be involved00:11:22What size property does this begin to make sense?00:19:44 Cutting corners and stories of cost seg gone wrong00:23:18 A few things that you wouldn't think qualify for cost segConnect with Yonah:https://www.yonahweiss.com/https://www.linkedin.com/in/cost-segregation-yonah-weiss/Connect with Dave:Schedule a callWebsiteE-mailOther ways to listen/watch:https://lnk.bio/multifamilyFollow or Subscribe:Facebook GroupLinkedInInstagramYoutubeIf you enjoyed this episode or like the show, please subscribe and leave a review! It is a huge help for just a little effort
Part three (at last!) is the opposite of a deep dive – it’s a flight upwards through the night sky exploring the power of drones as medicine. We go into a bit of the reasons why drones have such a physical effect, with excerpts from an article by Robert Lamb (published Nov. 16, 2016; accessed June 25, 2020): https://science.howstuffworks.com/life/inside-the-mind/human-brain/ambient-music-calm-psychic-maelstrom.htm#:~:text=%22What%20happens%20with%20ambient%20music,scanning%20the%20environment%20for%20danger. We then ponder for a moment the power of drones to connect us to the world, and all who inhabit it, through deeply restorative soundscapes. After using some drones created by Tibetan singing bowls in the opening, we move on to the brand new "Celestial Music Box" to consider how the star field above us might "sound" if each star could be played like a music box. Thanks to friend of the podcast Michael Riley for granting us permission to use this excerpt! As always, thanks to all our Patreons for your support! If you'd like to join them in supporting independent arts and production, you can find us on Patreon at https://www.Patreon.com/TheWillowsNest You can also support this podcast and the work of our independent productions here at The Willows nest, through a one-time donation at https://www.paypal.me/bansheemedia Tracks in order of audition: (Under the voice): Glen Hoban “Singing Bowl Tanpura 1 & 3.” These were published in September of 2018. From the composer’s notes: “The sound of a "G" ('Throat Chakra') Himalayan singing bowl being droned, then having the resulting drone copied, pitch-shifted and multi-tracked to produce a long, subtly evolving drone.” Found on Freesound.org. Find these tracks and more about Glen Hoban at: https://freesound.org/people/Glen_Hoban/ Sound artist and composer Michael Riley (mikronesia) created the Celestial Music Box to be available through Patreon only under the name “Meditative Soundscapes.” Check out his Patreon over at https://www.patreon.com/meditativesoundscapes. This one-hour excerpt from the music box was recorded in June 18, 2020 of the sky over Berlin, Germany. Find the trailer for the project on Youtube at: https://youtu.be/rcXzER9eEQI And check out our episode, "Long Time Gone" for more of Michael's amazing work! If you are looking for some summer reading, may we at the podcast suggest the New York Public LIbrary's massive, and fabulous, Schomburg Center Black Liberation Reading List, published on June 9, 2020. So much good stuff, so much summer reading! https://www.nypl.org/blog/2020/06/09/schomburg-center-black-liberation-reading-list Because until Black Lives Matter, no lives matter. We are all related, beloveds.
In this episode of Gutsy Health, we have the chance to talk with Karalynne Call, known as Just Ingredients. Karalynne went through an amazing journey with mental health and using food as a way to heal. Karalynne suffered from depression and, at one point, attempted suicide. After this low point, She would do anything to heal. Karalynne talks about how she went from knowing very little and being overwhelmed to now being a leader in this field and finding true healing through diet. Join us as we discuss her experience and what we can do to find healing too. Introduction to Karalynne 3:29Coming from Little Knowledge 14:12Fear 25:34Why is Food Polarizing? 34:22What do you wish you Knew? 49:33“People do want to be healed. There’s a lot of illnesses out there, but me saying, “it’s a long journey of healing with nutrition.” They don’t want to hear that. They want a pill they can pop.” 35:26www.mygutsyhealth.comhttps://www.instagram.com/gutsy_mom/https://www.instagram.com/just.ingredients/@provohealth@gutsy_mom@just.ingredients
Summary: Family offices are firms that serve the ultra-high net worth investors such as centimillionaires and billionaires. While many people would be over the moon after receiving a 1 million dollar check after hours of negotiations and meetings, those same individuals from family offices wouldn't even show up for such a low amount. In fact, a similar meeting for a family office would leave them in control of an additional 500 million in equity or more.Richard Wilson gives his insight on how he assists these individuals manage their wealth.https://simplepassivecashflow.com/hui3/https://simplepassivecashflow.com/coaching/https://simplepassivecashflow.com/ohana/ Youtube link: https://youtu.be/Pf1gwL4fqJ0?sub_confirmation=1Website link: SimplePassiveCashflow.com/familyofficeStart learning about real estate investing - SimplePassiveCashflow.com/startSubscribe to the Top-50 Investing Free Podcast - https://podcasts.apple.com/us/podcast/simple-passive-cashflow/id1118795347_________________________Top SimplePassiveCashflow Posts:This website has been going through daily improvements everyday since 2016. I admit things are a bit all over the place as I learn about these investments and wealth tactics.Events – SimplePassiveCashflow.com/eventsPast Projects - crowdfundaloha.com/past-projects/Simple Passive Cashflow’s Investor Friend Finder!!! –SimplePassiveCashflow.com/friendsMenu of Investing Options – SimplePassiveCashflow.com/menuLaneHack – SimplePassiveCashflow.com/lanehackPassive Investor Accelerator eCourse - SimplePassiveCashflow.com/ecoursePassive Investor Accelerator eCourse & Mastermind - SimplePassiveCashflow.com/journeyCoaching – SimplePassiveCashflow.com/coachingJoin our Private Investor Club – SimplePassiveCashflow.com/clubJoin our Team – SimplePassiveCashflow.com/jointeamOur Mission – SimplePassiveCashflow.com/missionPartner Opportunity – SimplePassiveCashflow.com/partnerProducts I support – SimplePassiveCashflow.com/productsAbout Lane Kawaoka – SimplePassiveCashflow.com/about-meQuarterly Investor Updates – http://simplepassivecashflow.com/investorletterSPC YouTube Channel – https://www.youtube.com/channel/UC3cIIsGKx3osVU5rt2P0HfQReal Estate Book Recommendations – SimplePassiveCashflow.com/booksBackwards Engineering Happiness – SimplePassiveCashflow.com/happyRental Property Analyser – SimplePassiveCashflow.com/analyserVisit Lane in Hawaii – SimplePassiveCashflow.com/retreatStart Here – http://simplepassivecashflow.com/startUltimate Simple Passive Cashflow Guide to…1031 Exchanges – Simplepassivecashflow.com/1031guideNewbies – SimplePassiveCashflow.com/noobInfinite Banking – SimplePassiveCashflow.com/bankingYour Opportunity fund – SimplePassiveCashflow.com/ofundTaxes – SimplePassiveCashflow.com/taxTradelines – Simplepassivecashflow.com/tradelinesTurnkey Rental Guide: simplepassivecashflow.com/turnkeySyndication Guide – simplepassivecashflow.com/syndicationCrowdfunding – SimplePassiveCashflow.com/crowdfundingNetworking – SimplePassiveCashflow.com/peoplePrivate Money Lending – SimplePassiveCashflow.com/lendInvesting in Coffee/Cocoa – SimplePassiveCashflow.com/coffeeInvesting in Non-Preforming Notes – SimplePassiveCashflow.com/ahpRent don’t buy – SimplePassiveCashflow.com/homeInvestor Fallacy: Return of Equity – SimplePassiveCashflow.com/roeHow to Calculate Investment Returns – SimplePassiveCashflow.com/returnsWhy you should break up with your Financial Planner – SimplePassiveCashflow.com/fpQuitting your job – SimplePassiveCashflow.com/quitTranscription:0:00Richard Wilson is a guy who works with deca millionaires and you guys haven't heard of the term family office is the term for families that have gotten well beyond that four and a half million dollar mark. They're more in the 5100 $200 million range. So think of it like Bruce Wayne in the Batman he had Alfred Alfred did a little bit more than your average family office in terms of keeping them out of trouble when they came up and all these gadgets but essentially, you get what a family office does. They're a consultant that is brought on board basically the kids don't mess it up and the family wealth keeps moving on. I'm trying to sort of do the same thing here in Hawaii and across my simple passive cash flow nation you guys want to check out my family office offering go to simple passive cash flow calm slash coaching, or go to Rei aloha comm slash ohana to read about my services where I can help out your higher net worth family definitely probably on applies to accredited investors there but accredited investors and above do things very different than your average half a million dollar net worth below you know the infinite banking is just a start but you know now you're starting to talk about oversee trusts and tricky things like that that are I'd probably say unfair. So if you want to learn more about that you can email Lane at simple passive cash flow and here's the show.1:22What's up simple passive cash flow listeners once1:24in nounce, the first multi day we mastermind in Hawaii will be holding it on1:31my island of Oahu,1:33Honolulu is on President's Day 2020 and that's February 14 and 17. And a reminder, Valentine's Day is the 14th. But we'll keep that evening for you. families and couples want to come on down for that we're actually encouraging spouses and families that come down because that's part of the whole experience, getting to know other families and getting to know other committee members. gonna be a big part of this. So what to expect structured networking and masterminding with existing CWI investors and other affluent investors, we're going to create the time and the environment to build real relationships that you can take forward forever. And for you, a students out there will do even be doing a full day of networking and mastermind and education. So once again, bring your families we're going to have optional excursions such as a luau, happy hours, dinners and some other activities to be able to have fun in the sun. And, you know, space is extremely limited because my vision is to kind of create this as a more intimate environment where we're all one big little ohana here. So come in and combined business and pleasure in a little tax write off hopefully you can get that right off in before the 2019 ends. Those signing up now we'll be able to get your free one on one strategy session that if you want to stick around till Tuesday, we can knock that out or if you're leaving early we can try and get that done throughout the weekend but hope to see you out in Hawaii go to simple passive cash3:15flow calm slash week three and we'll see you guys here how's it3:22going Richard? Thanks for coming on. Good Yeah, thanks for having me here lane.3:25Yeah, so give us a little background you know how you got started and advising these sensimilla in their family Sure,3:31Dad no at the start it was educated myself. I started writing online when I was learning while meeting with them realize many of them are not meeting with each other too often. That got me on the front page of the Boston Globe many different media mentions which got me speaking invites so I ended up speaking a couple hundred times in 14 countries got a book deal with Wiley bought family offices calm to start sharing that leadership and then the additional books written and all the hundred and 14 conferences with hosted now just kind of built on top of that progress. I mean, less The industry has expanded greatly since I got started 12 years ago. So I got a little fortunate being in the right spot at the right time, you know, thought leadership and just providing value as I'm learning has been the main way that things have grown. Yes, it's just so people4:12kind of left at the bus stop there. What is a family office? What are we talking about? Sure,4:17yeah, it's basically a solution for those who have a lot more money than the average person who are much more wealthy. And the way I like to explain is that if you're only worth $100,000, and you make a mistake, that's equal to 5% of your net worth, that's just $5,000 mistake, maybe you could have hired a consultant to help you avoid that and spend, they could spend a couple hours helping you prevent making that mistake again. But if you're worth 100 million dollars, or even just $10 million, and you make a 5% mistake, it's much more painful. And you could have a part time person, a secretary, an investment analyst, an attorney or project manager that would just help you avoid making those mistakes. And so as families become more wealthy, they're gonna be more likely to make mistakes because they're very busy. everybody's asking for their checkbook, their time, to get On their calendar, etc, they've got many different business entities, different investments going on deals going down all the time, they might be overseeing a 400, person, team, etc. So they're more likely to make mistakes and every mistake could cost them $500,000 here, 200,000 there, etc. So a family office solution gets you family office quality solution providers, it gives you less chaos, less stress, better deal flow, and it allows you to really be more effective at what probably created your wealth in the first place, which is typically not coordinating with your CPA or insurance advisor and filling out paperwork for 50 different LLCs and overseeing all that.5:35So it's a lot more than your basic financial planner gets Commission's off something. It's more of a holistic advisor right away.5:43Yeah, for sure. In fact, many times like one client where onboarding now is worth around 300 million, and we'll probably be doing six to eight months of heavy estate planning, organizational accounting, legal structure work before we even focus on the investments very much will try to slow him down on Making allocations until we develop a direct investment program with him. And I think it's not all about the investing. In fact, the best investment many of the ultra wealthy can make is in getting great tax and estate planning in place, because almost nothing else is going to provide a multiplied return in the same year where you're really just saving so much more than you're spending on that advice being employed. That's usually one of the first items to look at.6:22So based on clients coming to you guys, are you seeing that they are continually growing wealth? Or is their wealth accelerating in that respect? Or is it sort of decaying? And you definitely see it sputtering out with the next generation with where kind of the spreads that you see.6:38Yeah, I mean, there's a lot of statistics about families losing their wealth over two or three generations. But you know, it just depends on what the family's goals are. Some families have goals of giving away a lot of their wealth during their life. other families have a real goal of passing along entrepreneurial traits to the next generation. Others say Well, next generation decides what they want to do with their life. We're going to have enough so they have education and they can buy their first home. Maybe for a medical emergency, there's some access to capital, but they don't want the generation to have control the capital. So it really depends on the family. But if you're an entrepreneur listening to this, and you want to, you know, make sure you're passing on those traits of hard work ethic and being resourceful, etc, then having something like a family bank that has it's an informal bank, but with formal rules about how maybe the next generation only gets money for school, first house medical emergency, or a business idea that gets approved by the older generation and the family and then that way, they could buy the chain of three jompa juices or they could buy the chain of 10 carwashes or start that business. They want to start on Amazon etc. But it has to be approved by the family and then you get the money for the business and profits off the business you're able to keep but you're not just given a check to go buy Ferrari isn't a condo in Monaco or Hawaii.7:49Right. I think it's something that as I build my podcasts over the last few years, I'm kind of more getting into the more the advising side and definitely helping people get from zero To a million dollars network that seems to be my sort of claim to fame and that individual, they start working through their 20s and 30s. They're hustling and they have some kids and they get to about the 50s and 60s, what are some of the planning essentials for someone that have hit that pedestal? $3.5 million shelf as total network? Is it enough to start to bring in a family office? Or what are the best options for that? Somebody?8:22Yeah, it's interesting. It's good question. I mean, you can definitely take some lessons from the family office world, most multi family offices, the ones who take on 1020 or 50, clients, etc, will want you to have at least seven to 8 million net worth before they're going to take you on as a client. But if your net worth is growing by a million dollars a year you can probably convince them to take you on because I know that you're going to be a long term valuable client the serve but some lessons you could take. I think the most important one is to separate your thinking in your wealth management and you're investing into three compartments and it helps you focus your energy where you can maximize your return. So traditional wealth management is all about defense that stocks and bonds and commodities and fund managers and every is to find things that are uncorrelated. And that's what the whole wealth management industry talks about. But that's just one of the three compartments. And so typically, unless you created your wealth and and space, you shouldn't be managing that yourself doing a whole bunch of research and thinking you're going to buy Amazon at the perfect time or buy Tesla the best time or short this or that unless that's your background, you just love that stuff. And that's your whole life, I would just find the best in class provider and a wealth advisor. they'll manage that first compartment, which is your defensive compartment of your wealth. And the goal there is not to grow your wealth is to make it so that it doesn't get lost in great amounts and economy goes down and then it slowly kind of just tracks the market on the way up, hopefully, but no one gives money to a wealth advisor, typically nobody and they're worth 2 million and now because of that Wealth Advisors, great work on diversification. Now they're worth 20 million and none of my clients got wealthy because they had a good wealth advisor. So I think that's important to keep in mind. That's the first compartment is a defensive wealth management and that should be a certain percentage of your portfolio depending on who you are. The second compartment is cash flowing commercial real estate. Which is area you know very well and I always encourage clients to look at things are already cash flowing that are not too much developments unless for some reason they really like that slant or have an angle on that and is in an area they understand. And usually in this area, they're finding an independent sponsor or a fund manager, or they're using a property manager for property they buy directly. So they're kind of at arm's length. And most of them don't like to go into the funds. They don't know what property they're getting like to choose the properties one off and work with independent sponsors and that way, but it's a good medium because they're not saying Okay, Mr. banker manage my defensive portfolio, they're saying, okay, sponsor show me four deals a year and I'm going to say yes to one or two of them, and they're keeping some control of where an investment goes, it could be in one suburb of Indianapolis versus another one or one part of Honolulu versus another part of their more high conviction on that's not overheated or it's going to grow more. So that's the second compartment and usually focusing on two to three types of commercial real estate for it most is a good idea and not going too broad. And then the third compartment is direct investments in Operating businesses, which should probably be in the area where you created your wealth, if it's manufacturing autoparts should probably narrow your focus just investing in that area or in some area that you really for the next 1025 years you want to be investing in to be an expert in like stem cells or cannabis or something where you're just going to go all in on that read everything about it only look at deals there and be a real master of investing in that niche. And those are the three compartments that if you break down your decision making then you can see whereas it makes sense for me to have complete control, partial control and who can I trust to help guide me on each of those three areas?11:33And you know, kind of piggybacking on that last category there something I'm kind of learning after making this whole podcast simple, passive cash flow, I thought the secret to life is just passive cash flow me You can passive cash flow your way from zero to a million, but you're not going to passive cash flow your way from a million to 4 million, there's going to be up to some kind of thing that you enjoy or some special skill that you're gonna have to create a business in some industry that Richards kind of talking about in that third category,11:59right? Yeah, I think it I think otherwise could take a long time. I think that the trick is that all the ultra wealthy clients ICER to get up to really the 30 $50 million level if someone has an ambition to really jump there Well the truth is that I don't know anyone who's done that by placing a lot of passive bets you can get sometimes better returns with hard assets behind it by going into commercial real estate sometimes that is possible for sure. But if you are not focusing your creation of value into the world into something very specific, they can really magnify your returns your equity stake in it, then it can be hard to get to that ultra wealthy level. But you know, some people are very risk adverse some people have needs for high incomes. Obviously, there is no recommendation for all investors out there should take a lot of risk in a very specific area for sure that's not good advice. But if if someone is coming to you lane and saying like how do I grow my wealth more rapidly, I would say to think in those three compartments and think where it makes sense to apply the most of their control and then find the best in class for the other areas. So every hour you're spending on a project, it's an area where you have an advantage over everybody else in the marketplace or you have a unique focus. So you're making progress over competitors or over the market with every day of energy you invest. I think13:11people generally intuitively understand that. But now they're like, well, I gotta get in general partnership. And so these deals, how do I do that? I'm like, dude, you gotta find the deal. You gotta run it, or she could have you had to add some value, right? People just don't get that. I think some of these, right?13:26Yeah, yeah. Now that's true. I've heard that similar conversation. I mean, I think otherwise, you have to be putting up 50% of the deal or you know, some big amount of the LP base, yeah, systematically or something. Just click and delete the contact.13:42Other than the 27 weeks of curated content for the passive investor, the new mastermind will offer bi weekly power calls with the following format. first week of every month, we will dial in on being a direct investor for simple passive cash flow 1.0 I call it which is getting your first rental Nicole shading sourcing operation etc. second week of every month, we will discuss holistic wealth building topics or what I call simple passive cash flow two point O plus, which is holistic Wealth Management syndications private placements, tax legal lifestyle design, etc.14:19Get a sense of this forum by14:20checking out the guide the taxes video at simple passive cash flow calm backslash tax, I'll be honest, some things I can't see the general public because it's too personal. And it's not to say bad things about others. Unless you're in the mastermind. One rule we have is what happens in the mastermind stays in the mastermind. To get in go to simple passive cash flow calm, backslash journey. Don't be left out and join the day. If you've been waiting on the sidelines. This is your moment and not to be taken by an institutionalized education program. about this idea of like integration, right synergies, profession and interest. What are some things that you've kind of tied people together? Like, Hey, have you tried this idea of this type of business?15:03Yeah, yeah, I'm glad you brought that up usually in the podcast with that, because nobody ever asked me about it. And they asked me if I have any last things I want to add. And it's that idea of integrity or integration. And I think it's very important for someone who is investing because if your background is a computer programmer or an engineer, then you could add value potentially in that area and look for companies in that space. So a good example is an investor friend that lives here. I live on the island of Key Biscayne, one of my neighbors made his money in debt investing or reading a debt platform for consumers. And he wanted to start investing in multifamily properties. And I said, Well, one way to look at it is how can you invest in the debt side of the multifamily space, that's where your expertise is, you might come in as a normal LP investor on some deals, but if a sponsor ever wants to structure it as a debt note, or if you can find real estate investment structured as debt notes or come up with a creative structure, it might be a way for you to help people get deals closed and you get an X percent return with the collateral of an apartment building. behind that, that's an example of playing a unique game in the marketplace. I've got another friend who helps sponsors by waiting until they close the deal. Maybe the sponsor put up 10%. And then three to six months after closing, they will go to the sponsor and say, Hey, I know you're looking to do your next deal, I'll buy out 8% of the 10% that you just put down on your last deal. Now you've got eight out of the 10% that you need on your next one, but they get to then see three to six months of operating history, are the rents coming in as planned, the person that sell you the property lie about the condition of the units, you know, did everything settle fine at closing and etc? Or are there problems that are coming up, etc, and allows them to get superior due diligence done because of that unique model they have? And I think it's just important to look at yourself what others are doing and try to create a unique game for yourself as an investor. You know, if you're just using someone else's template that's not unique to your DNA and your background, then I think that you're not going to excel like your background, for example is in engineering, right, link. That's right,16:57but I don't like to do with operations and stuff like that. Right, right17:01but have you might have a unique attention to detail on the due diligence approach and setting up this podcast. I've never seen someone more organized and doing so it's like the links and stuff you had in there and made it very easy to work together on getting this podcast done. And so those unique aspects of who you are could allow you to find the things and due diligence that others Miss might allow you to walk through a property or look at construction or cost of things have a much better estimate and intelligent assessment and the average real estate investor or because of your unique background, maybe you're able to identify a group of engineering company owners or an insider industry group where the cost of join is very high. So the only people who are joining are very successful making 300 500,000 a year or they run a big team of engineering services or an engineering company and because of that, you're just naturally meeting investors left and right who appreciate that special skill set that you bring to your deals.17:55I think I'll add that you're not going to find this at the W two day job. You've got to kind of take that leap of faith, kind of like how I did. And I haven't really found that what I'm personally want to do with my time. But the same here it is a passive cash flow simple part, what you do after is it's really the hard thing.18:10Right? Right. Well, hopefully it's combination of something that uses your DNA background where you can make a lot of money and what you're really passionate about. And hopefully those combinations can be something very unique in the marketplace. So with your geographical focus, you only have one or two competitors, or no competitors. And I think that you can use those screens to narrow it down. I found that you know, you did, a lot of energy goes into creating a podcast like this, but I found that most people won't ever start a podcast, I won't ever write a book, it will never go to public talks. And much of the time is because they're not sure on what they want to stand for what they want to get done. And if you're unsure about something, then it feels risky to invest your energy into it. But if you can make a decision based on those three areas, and you know, it's a unique game that you're playing, then you can invest far more energy into it than others are investing in their projects. And then the marketplace will recognize you because of your certainty. You're able to I run circles around a competition with what you're putting out what you're getting done and just the amount of energy that you're infusing into your projects19:06right so they will switch gears a little bit the person listen to the podcast, they get it, they're they're kind of actively building portfolio that may or may not be taking that next step to building their business but at some point, the guys are listening to this podcast get it and they're going to be a net worth of a million to $5 million in the next decade or two. You know it's scary right? Because you've created all this wealth you can give it to your kid he's just gonna may likely be a trust fund kid you know, I went to private school so I know how it works right? I see all these right the girl up and how kind of new components they become prices. How do you what is the best mindset for that kind of parent who means well and wants to pass off? Well, the right way has some skills and traits.19:48Sure, I mean, as much as you can, I think encouraging them starting their own business when they're in grade school or high school like I had started five businesses before I got out of high school and I had a business in college. I got out of college started in Another business. So I think encouraging that, you know, we have our daughters to lemonade stands, and they're only two, four and six years old, but they do lemonade stands maybe twice a month and they'll think they made $56 last time and our goal this time is to make $100. And you know, that is their allowance and they make them count the money they will cash register. One of them is the salesperson one of them's the money handler one of them's pouring a lemonade and you know, just infusing that into the family DNA. So they're excited about it. And they they get that like, we bought the lemonade for $10. That's how much the supplies cost. And then we brought in $56. So we made $46. So that's the profits from doing that. It's something as simple as that. And my father took me to business meetings growing up when he was running his business. And I think that helped me He also read ink magazine a lot growing up. So I always reading about these great stories of people's high growth companies. And that got my brain early on. And I talked to my girls a lot about what I'm doing in the business and what's going on, even if they don't seem to be listening sometimes. And I think that kind of rubs off on the kids. getting them involved early, putting them in charge of something, maybe buying them a small business or getting them to run something and letting them fail if they need to fail to learn. So do you think that not all kids have that entrepreneurial bug? Or are all people in general, do high net worth families? They sort of trying to infuse that small business mindset. But are they okay with them becoming a dentist or doctor or some more traditional academic, I mean, only a percentage even want their kids to be entrepreneurial? For sure. I found that a percentage are okay with whatever path they want to take. And it don't even have a preference for them to be an entrepreneur, even though they were21:36entrepreneurs themselves.21:38Yeah, many of them are open to them doing whatever path makes them happy. And then no matter what their intention, many of them fail to direct the kids where they want them to. Just like with my girls, I have no idea. God forbid something. They make horrible decisions. I hope not but they could be anything when they grow up. I'm not sure obviously, they're so young, but it's a big challenge for many families just because they have a lot of money and even if they have been highly intentional about where they want to Right there kids, you can't control all the different variables and they've got a mind of their own. So I think that is a big challenge for many families and communicating with the monies for and expectations around who's going to get what money and why very difficult and the tears a lot of families apart. So I think it's something that's good to be talking about as kids grow up and manage those expectations and manage what are the family values? What are the goals, you know, what are the expectations that people don't think they're going to be inheriting $10 million, so they just drink at their frat for seven years at college and don't worry about their own career versus really encouraging them to go out and get their own career I think also as possible having it be so that the kid has money for school food, etc, but not a lot of money to go on crazy trips and have a Mercedes on their 16th birthday and etc. You know, and may if they want money, then they need to go earn the money. It's not free. You have to go create value in the world.22:54I mean, you guys help the family on the money side but raising productive adults that's up to them then yeah, we22:59know couples, therapist types that can work through family issues if there's a big problem going on within the family. And we can help put in into place governance policies and rules and ethical policy for the family office and help them avoid some major pitfalls. But some families don't have it as a high priority, or it's so messed up already, when they come to us that they really need the help of a therapist to address the one son who's a drug addict or something of that nature.23:26All right, so what would you suggest for somebody who has aging parents that has a pretty decent sized estate yet? They just saved their way to getting that? What would be the suggestion there to take over that estate? Right?23:39Well, I think as early as possible, it's good to meet with an estate attorney, a tax attorney and start structuring things. There are things you can do annually that if you just wait until they're on their deathbed, you'll have missed out on a lot of opportunities to structure things right and you will end up giving up more to the IRS and you'll pay more taxes than you needed to if you wait Tell somebody who's terminally ill I mean, if somebody is 60 already or 6570 any wait too long, then by the time decisions start to be made, there can be questions within the family if the person was mentally coherent enough, or whether there should have been a power of attorney enacting chaos, fighting within the family, maybe the uncle or the cousin or another sibling thinks that because maybe you're local, and like, I don't know you well enough later to know if you have a sister or brother or 10 of them. But let's just give an example of if it was your parents, and let's say you had a sibling in San Diego, but your parents were local to you there in Hawaii. And let's say you are local, and then you help your parents work through these decisions. And somehow, even though you think it's totally fair and equal, and that was the whole intent, you think that was the whole settling of the issue. If the sister thinks because you're local, you got a better shake out of it because you got to keep the house or you got to do something extra with the assets and you benefit more than she does. She might be very upset about such a thing. I've seen it happen many times with families At the same time, the brother can feel like hey, I help the parents, instead of going into the senior living. I helped them manage their care for seven years because they didn't want to go into senior living. I helped meet with the attorneys 22 times. I didn't take compensation for any of that. So yeah, I'm living in the house because I was taking care of them in the house, you know, so you can see how easily this stuff can turn into like nobody talking to each other for 20 years. You know, so that's the sad part about it. Yeah, to be really careful about it and kind of predict and just like over communicate when these types of things are going to be inevitably happening. Right. The one of the biggest things I see that screw people up the parents, they're very sentimental about this physical house. It's just always easier if you just would liquidate everything and just do a simple math exercise and divided by the amount of people and right or rent it out and then split it equally by the amount of people. Many times properties haven't been refinanced and ages could be refinanced, a little distribution and then a rental drip but it totally depends on the family obviously, and what their needs are and their ages, etc. Right. It's just the insight I think a lot of people just sort of blindly being blind is the tough part in between this one the 10 $5 million zone, it's not quite enough to get somebody on board and like a family office level. But yeah, it's true. I would, you know, that you bring up a really good point is that until you're at the eight or 10 million level, it's hard to get family office quality solution providers, but because I've seen so many families get such an ROI out of their estate planning tax advice area is one area where you shouldn't look at it as a cost. It really should be seen as an investment in interviewing the five to seven trust in the state planners, tax advisors, maybe someone who can do both things within one team and get to know them over one or two meetings or interviews and get the best one that you can get as the best one is used to dealing with deca millionaires, even if you are at 5 million is going to know the more advanced planning that could be an option where if you go to the guy who seems really nice and is really local to you, but his average client is one minute Net Worth and you're at five, he might miss some major things that could have saved save you a lot on taxes and would have paid the bill five times over. So it's not smart to choose an advisor in that area based on the cost. It's really an investment, right? You wouldn't buy an apartment building because it costs 1 million versus the other one costs 2 million like, oh, let's get the cheaper one. It's better to always go cheap. You know, it's about the ROI.27:23What What is the typical compensation structure for a $10 million family office or 100 million dollar family office?27:30Yeah, so usually, usually it's percentage and usually be anywhere from 30 to 50 basis points on the low end up to 1% of assets under management. But for estate planners are usually charging a hourly fee, but then they'll usually have sort of a base retainer and the hourly fees can be 300 $800 an hour and then associates on their team will be lower. That's definitely not inexpensive. But there's some wealth management firms out there that have performance fee based arrangements so they're not charging you Failure is charging a performance fee on how your portfolio does while working with them. And that's kind of a newer trend. And are these28:05guys do they also pick up some compensation via selling certain securities? Or is that no goal28:12it could be if it's disclosed, it's always about being transparent, disclosing everything disclosing conflicts of interest or even potential conflicts of interest and just kind of over communicating that with clients and but most Wealth Advisors just have their wealth advisory firm although probably about 10% of the marketplace. I have a real expertise in an area like stem cells or self storage or something and then that might be a reason why clients want to work with them. They were really strong on this everything else we do traditional wealth management, everything else we we find the best in class, but here's why we're best in class in self storage, etc.28:47So typical clients, they'll pay by the hour, let's just say then they'll come in how often for28:52tune ups and oil changes. I mean, estate planners in tax attorneys will typically charge by the hour but they might have a base rate teeners, they might charge you 1500 a month or 5000 a month, and then have a per hour charge as well. And that retainer gets you a certain number of hours. For the wealth management firm, or a multi family office type solution, it's going to be more about, hey, we're going to charge say, 70 basis points on your 7 million and assets that we're going to be managing. And then as that grows, you might get a break in fee once you hit 10 million and assets being managed, etc.29:26That's typically much call Richard whenever you want.29:30I mean, I'm glad you said that, because here's what happens a lot of the time is that the dynamic needs that you might have could be related to direct investments you want to do, right? So the calling for extra advice on investment decisions that usually occurs because somebody offered you an investment in a multifamily property or an operating business or some new investment opportunity came up and you brought up a sore point for the whole wealth management industry is they're pretty good at diversifying your assets, fund managers quality stuff. stocks bonds. And there's 40,000 people that can do that probably in Hawaii alone on some base level, but many multifamily offices and wealth management firms fail to advise that all on cash flow in commercial real estate, hard assets, direct investments and operating businesses is a huge blind spot for the industry. To the extent where with our advisory solution is simply the millionaire advisors, we are only helping with the direct investment portion, if somebody wants to full balance sheets solution and the defensive Wealth Management portion. We have a $6 billion family office partner and we can do that together in conjunction with them, but we're just providing the piece that we feel like everyone else is not providing to these families. And that's the type of stuff that requires more intra month of conversations back and forth. So it's not just plug and play like I'll take your 7 million will diversify it across, you know, one of our normal portfolio breakdowns based on your investment policy statement and you know, we're good and we'll adjust to each quarter and tell you how we're doing that's more of a efficient thing that you can scale that people like yourself, people that wants to get the Five 710 million they want to do direct investments I found very commonly, from based on what you see guy listen to the31:05podcasts, they're about $5 million net worth, they're getting up to retirement ages and you know, definitely a lot of this stuff passing down the baton, and then they just don't know where to start. I mean, how many hours do you think someone like an advisor would be able to get them up to speed and something that they would be looking for?31:23Right, right. I think that it can be pretty intensive work. depending on the complexity of the client, they might need to do four to five half day meetings to make sense and come up with a game plan of what needs to be done. And then based on the complexity of that game plan, you'll need to engage one or two other solution providers, you might need a higher quality CPA might need a great estate planner or a tax attorney. And then the carrying out of the actual investment management plan could take four to nine months or even a year to get things allocated in the right areas. When it comes to direct investments. It's not a good thing to get allocated all at once you know, some are it fluctuates, you want to be at different entry points, you want to make sure you're investing in the best deals possible, not just rushing in and allocating all $7 million to what's in front of you right now, you always want to have some liquid for a great opportunity. And the real estate markets been going up so long, a lot of families want to stay, you know, 1020 25%, fully liquid. So when the market goes down, they can be fully allocated and not before that point. Right. So the reason we brought Richard on32:26the podcast is just to tell you guys a little bit about the sort of industry as you're building your network, so you don't get stuck at the all these deals, but I don't know what to do with it after. So do you think we miss Richard though, kind of help the folks as a journey through the one and then the three and then the $5 million net worth levels?32:45Yeah, I think that just bringing it back to plan a unique game, making sure everything is integrated and aligned and what you're spending your time on, who you're working with, where you're based, where your investments are, what industry they're in, and then making sure you're playing the long term game over. lot of families position their portfolio. So inevitably, whether it's 1015 or 20 years, they have a great wealth accumulation. So just setting things up. So you're doing well long term because it's not like the stock market and what's happening with Tesla stock. It's not like you're managing Tesla. And after I do quarterly earnings reporting, most people listening to this have a 1020 year time horizon for retiring for, you know, building up to that $10 million goal, which I know a lot of people at one to five, eventually their goals be worth 10 million. So I think that making sure you're playing a game, that long term is very sound and your high conviction on will make you more energized to take action on it and and really put energy into making that game work.33:41All right. Well, thanks for coming on and talking to us poor people a little bit. We'll get there eventually. Yeah, Google, Richard Wilson found me offices. He's all over there. So that'd be the way to get ahold of him.33:53Great. Yeah, thanks for having hairlines appreciate it. All right. Thanks. Take care.34:01This website offers very general information concerning real estate for investment purposes every investor situation is unique. Always seek the services of licensed third party appraisers and inspectors to verify the valuing condition of any property you intend to purchase. Use the services of professional title and escrow companies and license tax investment and our legal advisor before relying on any information contained herein information is not guaranteed as an every investment there is risk. The content found here is just my opinion and things change and I reserve the right to change my mind. Above all else, do your own analysis and think for yourself because in the end, you're the only person who is going to look out for your best34:37interests. See acast.com/privacy for privacy and opt-out information.
In this episode of Gutsy Health, we get to interview Cecilia Salvesen, truly the OG of essential oils. She has 30 years experience in the natural health world, is a specialist with essential oils, and owns an essential oil company called Honestly Essential. In this episode we talk about what makes a good essential oil. There are so many essential oil companies starting now and if you’re not careful you could spend enormous amounts of money on oils that are very low quality. We also talk about how use of essential oils. Because essential oils have become trendy recently there is a lot of misinformation on how to use it. This can be very dangerous. Don’t take advice from someone who has no real training. Join us as we dive into this large world of essential Oils. Introduction to Cecilia 2:31Essential Oil Companies 15:22What makes a good Oil? 24:00Using Essential Oils 37:19Effectivity of Essential Oils 61:42“Everybody knows an essential oils person who says, ‘there’s an oil for that…’ They’re probably doing it wrong… The reason why is they don’t have the experience… to do it right and to do it safely.” 1:32www.mygutsyhealth.comhttps://www.instagram.com/gutsy_mom/@provohealth@gutsy_mom
In this weeks episode George and Toms main talking point is the history of call of duty yes we are the call of duty podcast.As always they bring you the latest news and opinions for Nintendo , Microsoft and Sony They also take a look in Stingrays boot and offer up this weeks new releases What you been playing - 00:01:40News - 00:12:42Feature - The History of Call of Duty - 00:24:04 Listeners Stingray (Listeners Pickups) - 00:52:39Stingrays boot - 01:06:22What are we hoping to play - 01:16:07Send us an email at - questions@unofficialcontroller.com or find us on Instagram and Twitter don't forget check out these awesome youtubersSkiprat gaming -https://www.youtube.com/channel/UCQhHiGbewzTDKZPtpK7rOBgenigmatic productionshttps://www.youtube.com/user/ProductionsEnigmaticmark.garage.gamershttps://www.youtube.com/channel/UCVg6afCAZxqSVhMJaEGz9qwIntro and Outro music credit - 8bit Summer by the Healey brosiTunes :https://goo.gl/M3b16fSpotify: https://goo.gl/5SbVukLicense:https://goo.gl/jadB5ETwitter: https://goo.gl/fKqyrjDiscord: http://discord.gg/F2pxtgYFacebook: https://goo.gl/PrsTvS
Romans 14:22What will it take to keep you from having faith?The pressure of his friendsThe pressure of FamilyThe pressure of being suedThe pressure of jailThe pressure of death
In this episode of Beneath the Subsurface we're focusing on Latin America and how the recent Spectrum acquisition has enriched and expanded TGS' data library. Erica interviews Richie Miller and David Hajovsky, our experts in this prolific region. We'll explore the hottest regions in the South Atlantic margin as well as the bidding climate in Brazil and the path forward for data and technology investments. TABLE OF CONTENTS00:00 - Intro01:20 - Geopolitical Climate in Mexico, Argentina, Brazil07:12 - Frontier Activity in Latin America10:28 - G&G Technology Applications12:22 - Equatorial Margins15:02 - Investments in the Region16:47 - Brazil Bid & Licensing Rounds19:58 - Identifying Leads23:54 - Data, Beyond Seismic - Geological and Geochemical26:38 - Old Technology, New Applications, New Techniques30:00 - Predicting New Plays34:27 - Conclusion EXPLORE MORE FROM THE EPISODELearn more about TGS in Latin AmericaSantos Basin Project ExpansionBrazil Multibeam and Seep Study Project EPISODE TRANSCRIPTErica Conedera:00:00Hello and welcome to Beneath the Subsurface a podcast that explores the intersection of geo science and technology. From the software development department here at TGS, I'm your host, Erica Conedera. This episode we're focusing on Latin America and how the recent Spectrum acquisition has enriched and expanded TGS' data library. As you'll hear, Spectrum brings not only a strategic library of seismic data, but also a team of proven and qualified experts in Latin America. We'll explore the hottest regions in the South Atlantic margin as well as the bidding climate in Brazil and the path forward for data and technology investments. I'm really excited today to be in the studio with Richie Miller. He ran things in Latin America for Spectrum and David Hajovsky, our VP of Latin America. So we're here today to talk about how the spectrum acquisition is adding value to our library of data in the Latin America region. So to start off Latin-America is a huge region. There's plenty of geographic diversity there. What are some of the hallmarks of the industry in this region? David Hajovsky:01:20Yeah, well, I think first off, I guess, thanks for having us on here. It's a pleasure to sit here and kinda talk about something that I know Richie and I have both been working on for for a number of years now. I think for me, when I look at Latin America one of the big pieces is the kind of geopolitical ups and downs. You see where markets open markets close and it makes it complicating and interesting when it comes to trying to find the right way to invest there. I think a good example of that is Mexico. It's a market that had been closed off to foreign investment for over 70 years. And during the energy reform, it opened up and you had a lot of multi-client activity both from a spectrum and TGS. And now under the new administration you're seeing things take a turn in the other direction. So it's, it's interesting to kind of see how these things evolve and go and how it makes us manage and be very insightful about our business and how we make our decisions. Richie Miller:02:21And I think we're still real positive on Mexico. It's a huge footprint and the government's indicating they, over the next couple of years, they may move forward again. Like industry wants, it's a great opportunity there. And, we're, we're in a great position. David Hajovsky:02:37Yeah. And I think when you look in Mexico as an example on that, we're still seeing, despite some of the political rhetoric, when, when a more nationalist government gets in office, the exploration that's currently moving forward is still moving forward. You're still having seismic shot, you're still having wells get drilled. So that momentum is still carrying through. And, and that's the thing about our business. It's a long term business. So everything there, we typically ride out all political cycles. So it's just a matter of timing on how that happens. Richie Miller:03:07Yeah. And it's even longer for the, for our customers in the E&P world, they, they look at, at, at decades where we seem to be tied into a four to six, eight year cycle similar to Argentina. I mean, in Mexico, we have an election coming up in Argentina. But the talk to the, our customers, there's not a big concern. We may see a government flip there but it's longterm we're positioned for it. And I think it'll work out just fine. David Hajovsky:03:37Yeah, I think that brings up a, I mean we were both down in Buenos Aires for the ABG international conference. It's a conference of petroleum geologists and certainly I would think we both agree the, the views and the rhetoric coming from all the oil companies there who are our clients was very favorable, very positive on kind of longer term investment outlook. So this makes us feel optimistic about the region. And then just the business in general. Richie Miller:04:03Yeah, that's- and companies like Shell and Chevron, et cetera. They've been in country for quite a long time when there was a different government in place and different price controls. They're the same companies that came in and picked up blocks offshore. Not Chevron, but Shell was pretty aggressive. Yup. Erica Conedera:04:22What do you see happening with round two in Argentina? Richie Miller:04:25A round two is, is pretty exciting. So we have an election coming up. First elections actually late October. The way that's gonna work. If no one gets a majority, then there'll be a runoff in November. We understand from the government that they're going to announce this round the first week of November to open up in April and close in October. That works out real well for us because it hits this budget year cycle for our customers that are looking for some end of year deals. We've had the data that we'll be ready in February that's going to be in the Colorado basin that will be on that round. After the first round, we've seen more interest from, from industry that have come in and, and picked up some data. We even with the uncertainty in the election, we think round two is going to be a bigger, a bigger deal than round one, which was obviously a huge deal for the Argentinian government. David Hajovsky:05:22I think it's one of the things that it's an observation we have, that on that initial round. A lot of the players that end up participating are companies that have some sort of presence in Argentina already. You have a few new players that come in from the international space. But once you get that hub and you have some of that acreage, it makes the investment point that much lower. So as you move into around two companies that already have an established position are able to be more aggressive as they go forward. And because of the success of round one, we're also introducing more international applicants coming into to attract it. So it kind of builds up on itself, builds a scale that we need. And I think that kind of goes to a lot of the rationale behind the, the merger between Spectrum and TGS is prior to this, TGS would not have had the same type of conversations or the same position. But Spectrum has done a fantastic job of understanding the above ground environment and understanding the below ground potential and moving on that and allowing us to, to now work together and try to build a, a better position. Richie Miller:06:21What the ministry has indicated is they've put sectors out that cover the Colorado basin, the deep water area of a Southern area of Argentina as well as the ultra deep of the Northern and Southern parts of Argentina. So they've asked for the E&P business or industry to nominate specific areas. And a real positive thing for TGS is we've got that area completely covered with new data. It's really the only data that's out there to, to help with this round. It's just in this round. So they've also asked us to do some of our G&G work and, and nominate areas based on what we think is prospective. The good thing about our businesses is everybody has a different idea on prospectivity and that's why we see different companies bidding on different areas. And that works well for us. Erica Conedera:07:12So looking at other countries in the region, certainly Brazil has had a lot of activity, but what other countries do you guys have eyes on right now? David Hajovsky:07:18Well, I mean, a big piece of the market for, for both Brazil- I mean for TGS and Spectrum was Brazil, Argentina and Mexico. These are the big kind of established markets where you have a lot of investment already from our client's side and kind of justifies us being there in that way. We're always looking and screening all the other potentials that could be there. You can go down the list. I mean, what we're seeing right now, offshore Guyana where Exxon and now Tullow have had just a string of discoveries. It's really opening up new ideas and play concepts, not just for Guyana but along the entirety of the margin. And so I think that's, those are sayings that we watch out for in, from a business development point of view and try to understand how can that concept be an analog somewhere else that we're maybe not currently working or are currently working and trying to build up a new narrative to attract industry. Richie Miller:08:14Yeah, there's a, I think Apache's just spudding a well in Surinam, and it's right next door. So hopefully that will, will lead to more success for that that basin. There is a data footprint for the companies for TGS in Barbados and Trinidad. And we understand BHP moving forward with a potential well in Barbados. That's not been confirmed yet, but that's, that's positive at different play type. But there's always the thought that maybe the, the Cretaceous wonder basin underneath Guyana extends underneath Trinidad and Barbados. So there's a lot of activity and looking around in that, in that region right now it's pretty active. David Hajovsky:08:55And when you say, I mean, that's, that's to me been a key insight into the business and in my short time in the business is that new data opens up new ideas, new concepts. A lot of these places have had acquisition or seismic acquisition for 30, 40 years. And it's when you come in with new technologies and new ways of, of trying to acquire this that you can get different concepts and ideas that come out of that and that, that starts the whole new process of, okay, next round of exploration. Here we go. Richie Miller:09:26And that's really true for Trinidad, that there was a lot of MC activity in the 90s and early two thousands, and it's just been dead. Now there's they're L&G outputs going down there looking for new exploration. So there's opportunities and it could be reprocessing, et cetera. But you're starting to see more companies BHP, BP, Shell, all drilling new Wells to try to increase that gas production there. You know, gas is our future. So it's, it's Trinidad's working towards that. David Hajovsky:10:02Yeah. Especially areas like Trinidad where you have a a hundred plus years of production in place, you have a lot of legacy infrastructure. So the cost to get that to a economic point is much lower than being in a ranked frontier area for something like that. And it's for that reason that you do is, as Richie mentioned there, these companies will continue to invest in and explore there. Richie Miller:10:22Yeah. And Barbados is a great place to go visit for oil and gas. So David Hajovsky:10:26Yeah, I can imagine. Well, if got your Barbadian shirt on. Erica Conedera:10:28So you had mentioned, using other G&G technologies in the region. Can you talk a little bit more about that? What exactly we're using? What's exciting to you? David Hajovsky:10:39Yeah, so a lot of we tried to think about, and we, we interact a lot with our clients, try and understand what are the tools that they need or what are the types of data they need in order to de-risk these positions and decisions. And, you know, historically 2D seismic is your, is your frontier tool. You go in, can acquire regional grid at a relatively economic basis. It allows for large screening and then you'd move on to 3D seismic to go beyond that. But I think TGS, in recent years we've taken an approach of looking and introducing different technologies. So for example, we've been working with multi-beam and coring data to try to build a larger geochemical database. So we have the geophysical database and now we're building up the geochemical database and you integrate that data in and you're able to update your geologic model. And these are the sorts of tools that, that explorers who are our clients can then utilize to better de-risk their position in decisions. Richie Miller:11:37Yeah. One of the I think both companies (TGS & Spectrum) or one company now, that we is, how do we generate derivative products to generate additional revenues off of these, you know, some of the legacy surveys. And I know that a, we were working on some different potential fields, products in Latin America. It's still trying to get traction with, with these, E&Ps or some exploration products. The, you know, then you add in the multibeam products and things like that. It's really what do the customers need and what will they pay for. And, and we're starting to get, go down that path to find out what's gonna work and what won't work. Erica Conedera:12:22So David, you had mentioned Guyana and activity in Brazil. Can we go back to that a little bit? David Hajovsky:12:27Yeah, I think in part of what we see when, when all companies are having the type of success they're having in Guyana and testing play concepts successfully in testing new concepts, we didn't think about where those analogs might be. And I think one of the areas that we think has a lot of untapped potential is equatorial margin Brazil. So we were just going further down the coastline really. And, and one of the issues we have is you've had some very successful license rounds up there. You've had some seismic shot and certainly one of our plans is to continue to invest on a geophysical data because we feel it's needed, but we need to see some drilling activity. And that's been one of the slowdowns in the ability for the Brazil equatorial margin and truly get unlocked is from a permitting point of view, regulatory point of view. It's been very slow process to get Wells permitted and then drilled. Richie Miller:13:21Yeah. That too. To move to the next phase we need wells drilled in an equatorial margins. We've been working with the government on that. The government knows that the oil and gas companies and our customers are working towards that. We understand that a, there's, there's two, two big permits that the industry is watching. It's a BP permit and a Total permit. And, in the Amazonous region, we understand those permits are very close. We anticipate seeing a well drilled there next year sometime. Well let's hope that moves forward. Those leases were granted in 2013 so they should be onto the second phase of their exploration period, which then they ended up dropping some of that acreage, which spurs our activity in sales in the, in the data there we own that area of, of Brazil from French Guyana around the corner to Potiguar. Richie Miller:14:15And I think we've only seen seen two or three Wells drilled since that round. And there's been a couple of rounds since then. There was 14 or 15 with some scattering of acreage. But to really take advantage, Brazil needs to get these Wells drilled and, and they know it. They, there's a very large push within the government. You know, it's a relatively new government administration and, and they have license rounds that are scheduled out through 2021. We'll see a lot of acreage taken. But again, I go back to, we have to have Wells drilled and that's what part of our, our whole strategy in Brazil with the, with the team we have working there is to work on the political side as well. Erica Conedera:15:02So from what I'm hearing, you're not seeing a lot of investment in the region. How does that impact your own investment in the area? Richie Miller:15:10Well, there actually is a, some investment from TGS coming up in the equatorial margins. The, the pioneer, which is a, a BGP vessel that's worked for us for quite some time. It will be mobilizing into the Para-Manhao area of Brazil in early November. And we're going to acquire about 10,000 kilometers. It's an infill program of one of the Fugro surveys we've picked up. We're starting to see movement in our in our client base on, in that area. And it's a sector and round 17 is right in the middle of it. So we'll, we'll acquire this survey. We'll have it processed to be available in probably April of next year. So it is a continued investment. It's also an area that, that we see some lookalikes to the Guyana plays the Ranger and, and also Liza discoveries. It's pretty exciting that that Brazil can can have instead of the salt basins that, that is very prolific as we, we, we see the opportunity for a whole new oil and gas province to open up. What about a consultant named Pedro Zalan it's been doing quite a bit of work up there and he's he's working on a new area there right now that we will be presenting at an exploration seminar that, that we have scheduled for November 7th here for our new venture customers. So we'll during that seminar we'll be showcasing really an Atlantic Margin portfolio of projects and and he'll be speaking at that. Erica Conedera:16:47So you guys mentioned bid rounds in Brazil. Can you explain how these bid rounds work for those of us who are not in the know such as myself? David Hajovsky:16:54Yeah. So so Brazil's a, an interesting place. They actually have a number of different types of, of contracts that they offer up in these bid rounds. So they have what they call concession licensed rounds. So these are areas that are outside of the, the salt basins. Back in 2010, Brazil, after having some of these massive pre-salt discoveries, the government made a decision to kind of hive off an area that they call the pre-salt polygon. And within that area, a new acreage opportunities were kind of pushed to the side and for the time being, and outside of that is where you could get acreage if you're an outside investor starting in 20, well, they've, they've gone through a multitude of different things. But starting in 2017 there had been a hiatus on rounds and Brazil brought them back in a big way. So the concession license round means an oil company enters into a concession contract where you just pay a royalty fee. Inside of the pre-salt polygon, they offer up what they're called production sharing agreements. And so what companies are actually bidding on is profit oil that they would pay to the government. So as they move into production, they agree to pay X percentage to the government as a result. So it's just different mechanisms by which the government is able to recoup some of their, their resource or, or monetizing their resource. I should, I should say. David Hajovsky:18:16And Brazil is also introduced to a new thing called the open door policy. So open round and effectively like a lot of open door policies, companies can come in, review the data and we have some of this data that we're reworking right now to try and promote that. But then they would put an offer on a block on a given set of minimum. And then if nobody counter bids and they're able to take that acreage. And what this does by having these very different round mechanisms out there, you have a multitude of, of companies and players that come there. So for the pre-salt rounds, which are the production sharing contracts, you tend to have a very large IOC. So the international oil companies some of the larger national oil companies because these are very capital intensive investments. You need to have a big balance sheet and a big portfolio enabled to do that. On the concession rounds you'll see the same mix of players, but you also introduce some of the more independent companies, so a little bit smaller and more exploration focused and they're able to get some of the, the acreage that's away from the salt basins. David Hajovsky:19:17So a little bit lower value point in terms of getting acreage access and if they're able to work that up and do it in a way that is accretive to their portfolio. And with the open door policy, I think Brazil is really trying to push to even another tier of players to bring smaller companies, both local Brazilian companies and international companies to help diversify the mix of, of players that you have in the place. And so for a company like ourselves, we try to provide data that's going to target all, all three of these. And having a larger client mix is always a good thing. It allows us to take more risk and allows us to feel comfortable with taking that risk because there's more need for the data products that we create. Richie Miller:19:58It's encouraging that we're seeing a new entrance into Brazil. And just recently within the last quarter, we've seen, two new companies come into license data that, that are currently not players in Brazil that is very positive compared to some other other areas in the world. But they're looking for these smaller opportunities, like David said, on the, these permanent round blocks. And we have every permanent round block is covered by some sort of TGS data, legacy data, some of the new data that, that we've acquired. And extremely positive. They, they're coming to us. There's nowhere else to go to right now. We're working in this data where we have a G&G group in the Houston office here and also over in Woking that that help with identifying leads on this data that help us push out to clients. So traditional way of just selling the data in a line by line basis based on the line quality, the data quality, we're taking that a step forward and, and developing leads by a group of explorationists. These are people that have worked with oil and gas companies understand what oil and gas companies are looking for. And that's what we're being, we're, that's what we're pushing out to market right now. David Hajovsky:21:14And I think one of the interesting things that we see on that front historically for these sort of G & G value add products the, the client mix for that are tend to not be the super major clients. They have their own internal staff that will work and do that. It's kind of into their, their value point. But it's typically made for companies, smaller companies that may not have the resource for that sort of staffing or certainly some of the national oil companies who like to have different viewpoints and perspectives. But I think what we see now in today's world, even the super major clients see value in what we're providing there. And I think a lot of that is kind of based on the quality of, of the, the staff we have and the work effort that's being put there. So it's a, it's certainly helped us to better understand what our client needs are and the way they're kind of thinking about problems and allowing us to better address those problems in a way. Richie Miller:22:06Yeah. And I, I think it's, it's also on the investment side. We're, we're saying new ideas based on, on the data that's been interpreted that helps us develop more programs and, and make those investments that we have planned over the next few years in Brazil. And Brazil is open for business and we're going to hit it in a, in a big way. We speaking to the rounds on round 17 we've just completed a, a Potiguar 3D survey. It's about 10,000 kilometers and there's, in round 17, which will be next year. There's about 4,000 kilometers of that. That's over open acreage that we're seeing companies that are, they're interested in that. It's, it's gonna provide that, that opportunity for the industry really, and we're not seeing that much in Brazil, but they're going to have 3D prior to the rounds. Versus the, just the 2D portfolio. David Hajovsky:22:59Yeah, I think that was one of the things that that we've tried to do is, I mean, as a, as a geophysical contractor, we want to make sure we can provide the best quality data ahead of a round and for this upcoming round 16, which is less than two weeks away at this stage we were able to get out there and get 3D data ahead of the round for both Campos Basin and the Santos Basin. And these are proven to be very well received by industry. These are the type of products that helps them de-risk major decisions, I mean, when we talk about Campos basin, one of the blocks that's on offer there, the minimum signature bonus. So this is what an oil company is going to be obligated to pay at a bare minimum is $350 million for one block. And so to have the seismic that's going to de-risk that structure and allow them to better understand what the real potential is there, it's a, it's a huge benefit. So we're, we're happy to be able to provide that. Erica Conedera:23:54So you had talked about the different G&G data products that we're offering aside from the 2D and 3D seismic, can you talk a little bit about what else? David Hajovsky:24:05Yeah, so we, we've been offering we've touched on some of the derivatives that you receive off of the 2D and 3D. So work effort that happens beyond that, can be something as simple as an interpretation, can be different kind of attribute work, different sort of packages that we can customize for whatever the client needs are, integrating different data types. So TGS, I mean, obviously the, the Wells business is a huge piece for us. So this is where we would go into a given country, get access to their well database. A lot of times this data is very old. It's very spotty. It needs a lot of cleanup. So we've kind of honed that process down where we're able to take these well logs cleaned them up, make them interpretable, integrate them into packages that our clients are able to access. David Hajovsky:24:56On the geochemical side, we've been doing a lot of work effort with these large scale multi-beam projects. As an example in Mexico, when that market opened up, we acquired a multi-beam over 600,000 square kilometers of offshore Mexico. So effectively covering everything and utilizing that data, we're then able to high grade a coring location. So piston course something that oil companies have done from for a very long time, for 50 plus years. But by using this technology of the high res multibeam data, we're able to better high-grade where to take these cores. They'll find the right sort of areas to, to try to find hydrocarbon samples on the sea floor. And, and what we found is a very high success rate there. And you're able to correlate that back. And so for oil companies, when they're trying to do their, their basin modeling and understand where they need to be thinking about these are the types of data sets they can integrate in with our regional seismic or 3D seismic and better de-risk the play. Richie Miller:25:55No, it's, it's what, what do our customers need and that that was one of the items in a multibeam that came back and, and it's, it's working with our core key customers to understand what they need and what else we can provide. And the industry is changing that way and it's real positively. You put the two companies together, there's a lot of opportunity and a lot of geographic space to, to put together products. Erica Conedera:26:22In our last episode, we actually talked about multi beam, so we had a whole episode on that. David Hajovsky:26:26Good. Well then they've dove, they know a lot more about it than than I do, which is which is a good thing cause then they can go focus on that. Richie Miller:26:34Yeah. When I listened to it, I learned a lot more about multibeam. David Hajovsky:26:38No, but I think it's a, one of the things is it's taking old technologies and applying them in a new way. It's just like reprocessing data, which is a big part of our, our businesses. When you have legacy data, so data that might've been acquired in the 90s in the 1980s even more recent vintages, a lot of times the, the processing flow and the algorithms that were used to try to create an image were, were very antiquated either by a limitation on compute or for just the limitation in the code. But even taking legacy data and applying today's technology on it, we're able to see significant uplift. And, and a lot of times we'll go and capture that data and try to uplift that data to help compliment in what we're doing from a new data acquisition point of view. And it helps us better set the parameters on this new acquisition to ensure that geophysically, we're going to address the geologic problems in that area. Richie Miller:27:32Yeah. Imaging technology is, is we try to keep up with it on with the acquisition is not changing a lot, but imaging technology changes day to day. It's it's really breakthrough technology that's coming through and helping the E&Ps discover more resources and, and it's a big part of TGS is moving that imaging into the next the next phase. David Hajovsky:28:00And I think we've seen in, you know, you can take data sets that were acquired five years ago and, and processed with the latest and greatest five years ago and applying the technologies today. And we'll talk specifically about technologies like full wave form inversion to help better resolve the velocity field and you'll see a significant upgrade in that image quality. It's probably tantamount to the photo quality I have on my iPhone 11 compared to on my original, you know, iPhone three. If they even had that name back then, I mean, it's it's incredible resolution and detail and it's those sort of upgrades and insights that allow people to think about different plays and different concepts in ways that we need to be moving the needle. Richie Miller:28:48It's a big part of our business is we have to have refresh data ready when the opportunity arises, whether it's a discovery well there's a discovery that spurs is a, is a good tar trigger on, on, on sales of data. And then for license round, sometimes they surprise us some of these governments. And if we don't have that, the data ready and it's been reprocessed with the latest technology we may miss. So it's our job to identify what we think will, will the be, the surveys that we need to upgrade. Yeah. David Hajovsky:29:22Yeah. I think it's a, when you, when you mentioned that thing about the licensed rounds gets sprung upon us, it's Brazil for this round 16 that's upcoming here in two weeks time. When we were talking about trying to get 3D data ahead of the round that was certainly one of the big challenges we had was how can we, under this limited time frame and the way that this round has been earmarked, how can we get out there with a vessel, acquire the data, process the data, get a workable product to the client base. And it puts a lot of pressure on us to come up with creative solutions. But I think in most of these instances we've been able to luckily enough, stay ahead. Erica Conedera:30:00So it sounds like one of the challenges is predicting where the next big play is going to be. What about the Santos Campos? Richie Miller:30:08Well, I think, you know, that's a great question because back geez, it's been two years ago now, we, we made, we took the risk to move offshore into the outside the BEZ or the Brazilian economic zone which was out at that point. It still is at 200 miles. We started acquiring a survey and with TGS we, we partnered saw the opportunity and it's a new play, very similar to what's inbound on, on Santos. But some of the, some of the data we're seeing already and some of the experts that are working that they think it can be just as big as what's already been discovered in the Santos Basin. And so we're, we're talking 30 to 50 billion barrels. It's a big number to, to even throw out there because people will disagree with you. But we've, we've made an investment already. We've acquired 7,000 kilometers, 8,000 kilometers. We're going to go ahead and pick up the rest of that later this year. It's a big risk. But I think there's a very big reward for TGS and, and also our customers cause we're going to provide that data 3D data instead of 2D data before the rounds. And we're hearing that, that, EEZ (Exclusive Economic Zone). The rounds good chance there'll be offered in and round 18, which will be in 2021, which gives us a good time to plenty of time to get the data processed and out and for the customers to interpret it and have it ready for the round. David Hajovsky:31:49Yeah. And I, and I think that, you know, it, it is true. It is risk, but I think it's calculated risk. I mean, when just talking about the, the UNCLOS (United Nations Convention on the Law of the Sea) process. So this is the process by which a company can extend out their current exclusive economic zone. Brazil was the second country to apply for that back in 2004. So these things take time. But certainly I think what we saw as we looked at that area is there's great momentum. The government realizes there's good resource potential there. Technically it makes sense to extend this out. And you're getting all the right stakeholders in place, both with the UN with the Navy, with A and P with the government to, to see this move forward. And so, yes, it was a risk. It was a calculated risk. But I think it's the, certainly gonna prove to be the right decision where I've seen that I think kind of payout in itself Richie Miller:32:41That, yeah, that's right. That we and Argentina, they've, they've been granted the rights and Uruguay has been granted the rights. There's a few little areas in Brazil they're still working on in New York. You know, ironically Pedro Zalan on who we we mentioned earlier is working with the UN and the Brazilian government on that. Our country manager draw credit has been very involved in this whole process with the couple of the universities. We're, we're the only ones that have data that, that show the prospectivity outside the 200 miles. And we're using that and, helping the government move forward and we expect some very big results not only out of the expiration but also out of for TGS on the, on the data sales. David Hajovsky:33:26Yeah. And I think that this is the, this is part of the positioning, right? Is that we want to be viewed as allies to the governments and we're trying to help them promote their areas as we're trying to help our clients promote their own interests. And so it becomes a mutually beneficial relationship among all three. And so this has been the key strategy for, for TGS and Spectrum, and now we're bringing those strengths together. Richie Miller:33:52Yeah. Yeah. We, it's a footprint that we're putting together that with, when all said and done, we'll probably end up with about 40 to 50,000 square kilometers that's continuous. It's it's a must be basin. We have to be in Santos and Campos similar to some of the large basins and, and in the U S a on shore with the sale markets. They're the hottest basins in the world right now. And TGS is in, in all of them. David Hajovsky:34:20Yeah. We hope to continue that and I don't see any reason why we won't be able to keep moving that ball forward. Erica Conedera:34:27Well guys, it sounds like a, you have a lot of work ahead of you and we're definitely very excited about the value that the spectrum acquisition has added to our data libraries. So very glad you guys could be with us today. Richie Miller:34:39I appreciate it. It was it's going to be a fun group to work with. The the, there was a lot of success with this library, you know, not only in Latin America but in Africa and other areas of the world that, that we've added to. But it was, it's a top down approach that you know, the support, getting the financing to do some of these projects, the processing groups the finance groups, you got to invoice this. Everybody's touching it. Everybody in the office, the, you've got the, the it groups and the computer centers. It's, everybody's working on this together and it made it successful. So it's it's now to capitalize on the opportunities moving forward. David Hajovsky:35:18Yeah, and I think that it's a, it's a huge benefit to TGS to be bringing in this, this established Spectrum team. I mean, these guys have proven track record and we're creating, I think one of the strongest teams in industry. I think we could be Dallas Cowboys-like probably mid nineties Cowboys on that Superbowl run, I think is probably where we'll end up being. We'll see what happens this year. Erica Conedera:35:43All right. Thanks guys.
Ian shares with us from the life of Noah and challenges us with this short verse from the book of Genesis : ‘Noah did everything just as God commanded him.' Gen 6:22What would it mean to your life, your family and your community this week if you sought to live every moment the way Jesus has called us to?
In this episode of Beneath the Subsurface we introduce our Geoscience and Data & Analytics intern teams for our summer internship program. Erica kicks off the episode with Jason and Sri talking about how the programs have come about and changed overtime here at TGS, how they select and recruit for the program, and the scope of the projects that the internships tackle this summer. Erica then spends time with both teams of interns discussing the experience in the program, what they’ve learned, and everything they’ll be taking away and applying back to their studies and upcoming careers. TABLE OF CONTENTS00:00 - Intro00:50 - Team Leader Segment with Jason and Sri01:09 - The Geoscience Internship Program04:42 - The Data & Analytics Internship Program07:29 - Advice for Program Applicants11:54 - Data & Analytics Intern Team Introductions13:32 - The D&A Summer Projects15:18 - Lessons Learned Pt. 117:20 - The TGS Internship Experience Pt. 120:24 - Future Careers21:41 - Advice for Future Interns & Reasons to Apply Pt. 124:34 - Valuable Take Aways Pt. 126:01 - Geoscience Intern Team Introductions28:36 - The Geoscience Summer Projects31:33 - Lessons Learned Pt. 233:14 - The TGS Internship Experience Pt. 234:12 - Advice for Future Interns & Reasons to Apply Pt. 239:28 - Valuable Take Aways Pt. 2EXPLORE MORE FROM THE EPISODEARLASSALT NET TGS DATA LIBRARYEPISODE TRANSCRIPTErica Conedera:00:12Hello and welcome to Beneath the Subsurface a podcast that explores the intersection of geoscience and technology. From the Software Development Department here at TGS, I'm your host, Erica Conedera. This time around, we'll be chatting with our newest batch of intrepid students in TGS' dynamic and immersive internship program. As you will hear, they are a diverse group of future innovators from around the world. They bring with them a wide range of skills and interests and work together to collaborate on exciting real world projects. We'll start our conversation today with a quick introduction from the leaders of our internship program. I'm here with Sri Kainkarayam, the data science lead and Jason Kegel with the geoscience team who heads up the geoscience intern program. And we're going to talk a little bit about the internship programs. Jason, how has this program changed in the last five years?Jason Kegel:01:09When we first started the program, I want to say 2013, 2014, it was out of the Calgary office in Canada. The interns there were mainly from some of our Calgary schools nearby. And then it started to grow 2014, 2015 to include some of our Texas schools, UT, Baylor, University of Houston. As it's grown, we've decided to add more projects and more sort of interesting work to the projects. We've also been able to bring on some of our original interns into roles within the company. So over the last five years, I'd say the biggest thing that's grown is the, the number of interns. So in Calgary, when this first started we had one intern and then that same intern came back a second year and we brought another one on. And then we got one in Houston. And then as that grew, we had a couple in Houston and a couple in Calgary.Jason: 02:09And then the past couple of years we've had four each year. So we had four last year and four this year. So we've really been able to sort of guide new projects around that to where we can really include their schoolwork and what they're doing in their university work with what we're doing here at TGS and hopefully build a sort of cohesive project for them to work on. And that's sort of the struggle with a lot of internship projects that we've done over the past years is to incorporate what they want to do as students and as interns and as their career grows, with what we'd like to see them do and encourage them to do within TGS.Erica:02:49Does that go into the consideration of which interns you end up picking, what their specialties are or what they're looking to do with what you need?Jason:02:58No, not necessarily, a lot of the times the interns, so for example, last year we were working very closely with a couple of schools that we wanted to bring data into. So some of our production data our Longbow group into with the University of Lafayette. So we were working really closely with a few professors out of that school and a few professors with UH. So we had recommendations from the professors themselves with students that they thought might work nicely with us with - in terms of their knowledge of data already and their knowledge of well log use and seismic, so they can kind of jump in running without having to learn too much in the beginning, without too much of a learning curve. So in aspects of that, and that's, that's more that we look for. So the, the professors we're working with, along with how long it will take them to, to get up and running with things.Jason:03:51Our current group of students is sort of a more advanced set of students who are working on their PhDs or in their later years of their master's degrees. So they've already seen a lot of these areas and worked with a lot of the data. So we do look for sort of more advanced students now, whereas when we first started the program, we were, we were happy to get anybody, some people that were not sure if they were going to be geoscientists, but you know, we're in the geoscience program with their bachelor's and that was okay too. I think we still got a lot out of having them here, working with us. but as we've grown, we've been putting them on more and more advanced projects and they've really been able to help out.Erica:04:29Cool, sounds like they've added a lot of value.Jason:04:30They definitely do. And it's nice to have sort of fresh faces around in the summertime and, and it really, really fills in for everybody that goes on vacation in the summer.Erica:04:39(Laughter) Right? Awesome.Jason:04:39The office doesn't seem so empty.Erica:04:42Awesome. So for the data analytics team, the internship program is new. I think this is your first batch of interns, correct Sri?Sri Kainkaryam:04:57Yes. So the data science team started sometime around November, 2017 so this is, although this has been our second summer, this is our first batch of interns that are projects, both, trying to test out novel algorithms, novel approaches, also try and apply ideas from high performance computing to building workflows, and also try and build sort of, user interfaces or ability to, deploy these for various users. So, there are broadly three buckets in which these projects fall into. And, it's an, it's, it was an interesting time looking for an intern because data science as, as a domain is, sits at the intersection of sort of three, broadly non intersecting sets, right? So geoscience, computing as well as machine learning or deep learning and folks having adequate background in all three of them, they sort of fit the -the mold of a good intern.Sri:06:02So it was in some sense was a little hard initially to try and find an intern. So I think we have a talented group of interns working on two of the broad offerings that we have right now. One of them is Salt Net, that is trying to interpret salt bodies from seismic images, and one is called ARLAS that is curve completion and aspects of petrophysics that can be done on, on wells that are available in an entire basin. So, it's, it's been four weeks into the internship program and the interns, the interns are pretty smart. They're motivated and it's been a fun experience so far.Erica:06:43Is it a 12 week program in total?Sri:06:46It's around a 12 week program. Some of them I think are here for a little longer than that. So, one of them is, trying to build a tensorflow port of our salt network flow because tensorflow community comes with a bunch of advantages such as, like, ability to deploy, it also comes with a JavaScript library called tensorflow JS that that makes it easy to do machine learning in the browser. So we want to make use of that infrastructure and the community built infrastructure. And that's one of the reasons why, one of the interns is spending time trying to build, trying to put our workflow in onto tensorflow.Erica:07:29So if you guys had some advice to give to people looking to get into the internship program, would you have anything you'd want to let them know?Sri:07:37So from the perspective of data science internships, given that how fast the field is moving, especially for students looking for data science internships in, in the space of oil and gas, the first and foremost thing is having an ability to understand various aspects, various various sources of data or aspects of data in the upstream domain. Because, just to give you an example, somebody who's worked on deep learning of natural images throughout, the moment you try and apply similar algorithms onto seismic images, it's a completely different domain. So, what are the, what are some of the assumptions that you can make? And that's where having a strong domain background really helps.Sri:08:30And I think the second thing that is, that's becoming very important in the marketplace right now is, is with, with platforms like GitHub or, you know, various open source projects. You can actually showcase your code. So pick a problem, learn a few, learn some approaches or try out some novel approaches, and put out the code out there. Put that on your resume because that adds a lot of weight, in your, in your ability to make a case for an internship rather than somebody who hasn't, who says, oh, I have, I have a strong programming background, but there's no way for somebody who's evaluating the person to see the code. So that these days has become a really strong advantage for, for a lot of students. So a couple of the students that are working with us this summer, they actually have active GitHub profiles where they've posted code, they've contributed code, various projects and so on. And as a consequence, like we looked at their profiles and backgrounds and like, oh, this is an obvious fit to our group and this person also has a background. A couple of them were like Ph.D students in geophysics, so it's an obvious fit for our team. So it was, it was all, it was a no-brainer for us to get them to come work with us this summer,Erica:09:53Jason?Jason:09:53On the geoscience side, it's, it's quite a bit different really. A lot of the students that are in university going for, for geoscience and wanting to go into the oil and gas industry have mainly just academic experience. So we really just want somebody that can sort of get up to speed quickly with sort of what an explorationist in an oil and gas company would do is look at essentially what we're bringing them in to do is what a sort of a mini, really quick exploration studies on basins where they don't have to go full on to drill a well, but they still need to have the ideas behind it where they can use the data, they have to evaluate an area and come up to speed quickly with, with getting those presentations out. So having really good presentation skills and having just a background enough to be able to learn on their own and pick up concepts quickly really helps. We see that a lot with, since we do get a lot of our interns through their advisors at different universities, that that really helps. But it also doesn't hinder it. We've also had lots of students that have applied, that have came from different universities where we don't know the advisors and it's just a matter of them going through the interview process and showcasing that they're, they're able to get to speed quickly. So, anybody can really go, go and do this type of work if they have the, the ability to learn.Erica:11:14Awesome.Sri:11:14I think that's an interesting point that Jason brought up. The ability to learn things fast and, sort of the ability to, appreciate various data sets and trying to understand and bring them together. I think that's a huge advantage for, for students. And based on my interaction with students in our group as well as Jason's group, I think TGS this summer has a fabulous group of interns.Erica:11:43Okay. Well thank you guys for talking to us about the internship program and we're very happy to talk to your respective groups and see what they have to say. Thank you.Sri:11:52Thank very much.Jason:11:53Thank you.Erica:11:56I'm sitting here with our first group of interns from the data and analytics group. To my left, we have Michael Turek from Florida State University. His major is computer science. He has a B.S. In computer science as an Undergrad. What are your career goals? What are you working towards?Michael Turek:12:15Yes. So part of me taking an internship here at TGS was to help figure that out. And so, well, you know, my interests rely mostly in machine learning and things like this. So something pretty, along those lines.Erica:12:31Awesome. Well we hope you, we'll help you figure that out. While you're here. Going around the table, we have Lingxiao Jia from the University of Wyoming. Your major is geophysics and you're working towards your PhD studying seismic imaging, migration and inversion. What kind of career are you working towards?Lingxiao Jia:12:50I plan to work as a Geoscientist in the oil and gas industry.Erica:12:56Awesome.Lingxiao:12:56Yeah, I like to do programming, so mostly on that.Erica:13:06Cool. All right. And then to my right, we had Deepthi Sen, from Texas A&M, majoring in petroleum engineering, working towards your PhD, studying reservoir engineering. What's your career goal, Ms. Deepthi?Deepthi Sen:13:21I'd like to, get a full time employment in the oil industry, preferably working on something related to machine learning in reservoir engineering. So yeah, that's why one of the reasons why I'm here too.Erica:13:33Awesome. Yeah. Oh, we're glad all of you are here. So can you guys describe for us, the projects you're working on? I'm not sure if you guys are all working on the same project or if you're working on different projects.Deepthi:13:45We are working on different projects. So right now I'm working on something which, involves clustering well logs, into good and bad, sections.Deepthi:13:57I use machine learning and a few algorithms that I use for my graduate research too.Erica:14:04Very cool. What's a bad section?Deepthi:14:07A bad section as in, there are certain depths at which, certain well logs behave erratically so we want, do not want to use that data, so we have to cluster it out. So, in order to do that manually for, you know, thousands of wells, it's impossible. So that's where machine learning comes into play.Erica:14:27Very cool. Very useful too. Lingxiao?Lingxiao:14:32I'll be working on using machine learning to do the recognition of geoscience features. For example, there could be faults, it could be picking horizons, could be recognizing salt domes, something like that.Erica:14:48Wow. Very complex and over my head. (Laughter) I'm sure it's very important though. And you, sir?Michael:14:57Yeah, so I'm working on translating the models that TGS' data analytics team uses to predict salt patches in the earth. So they use, they use models written in a module called Pi Torch and I'm converting that to tensorflow 2.0Erica:15:17Cool. Very cool. So what have you guys learned along the way so far? I know this is kind of the beginning for you, but-Michael:15:28Yeah, so it's, it's somewhat difficult to- so much, is kind of the answer to that question. But a lot of what I've learned boils down to more of the theory side of machine learning. Coming into the internship I didn't know a whole lot about the backend of machine learning, mostly just applying it. So learning how all these models work and why they work and things like that in terms of, the actual actually applying machine learning. That's what I've learned. I've also learned though, perhaps more importantly, working with a team and collaborating and things like that, which has been-Erica:16:10So hands on, real-world experience. What do you guys say to that? Ladies, I should say (Laughter) to my right.Deepthi:16:17So as I said, the research that I do is again, on machine learning. So I get to use similar algorithms to another, I would say facet of oil and gas. So I worked in reservoir engineering back in Grad school. Here I'm working on, petrophysics, so I kind of see how the same algorithms and same concepts can be applied in two different, areas, which is quite eye opening. Yeah. And apart from that I'm learning new algorithms and learning new math, which, I would think that's very important for, for my Grad school too, so, one good thing about TGS is that, they are quite, you know, they don't mind, publishing. So as a PhD student, that's very important to me. So that's one thing I look forward to too.Erica:17:08Yeah. Awesome.Lingxiao:17:10For me, it has helped me get a deeper understanding of how much, how machine learning works and how it could be applied to the field of Geo Sciences.Erica:17:20Cool. So talking about TGS more broadly, like as a culture, how would you say it's like working here, if someone were to ask you from school, what's it like working at TGS? What's that company like? What would you say?Deephti:17:36It's a very friendly atmosphere and, it is different from Grad School, in the sense that, I think Grad School, hours are more flexible than in an industry environment. But then, the focus is different and this is more, you know, I would think this more social than Grad school and, you know, being here, this is my first internship in the US, the environment is very friendly and you know, people look out for each other it's great.Erica:18:15Cool.Lingxiao:18:15Yeah. People here are so helpful and the, I have had a great time. I really enjoy this internship by far. Yeah.Erica:18:26Awesome.Michael:18:26It's wonderful. You're working in small teams and so you get to know everyone pretty well. It's very tight knit and those people are smart and very helpful kind people. It's, it's, it's wonderful.Erica:18:37Cool. Any surprises along the way? Anything you weren't expecting?Michael:18:44So, no, I wouldn't say there's anything that surprised me. I mean apart from the environment I had a much more perhaps rigid definition of, you know, you go to work and do your job and that's kind of that, but it's much more relaxed and that was, I guess, somewhat surprising.Erica:19:01Okay. I like that. Yeah. How bad the drive was maybe?Deepthi:19:06Yeah, I stay close by.Erica:19:09That's good. That's the way to do it. (Laughter) Yeah. What are you guys looking forward to for the remainder of your internships?Michael:19:17Yeah, so I'm looking forward since I'm rewriting these, these models and an interface for them, it'll be exciting to see them, how they perform and also to actually see the data and analytics team using them and hopefully finding them useful.Erica:19:31Yeah to see value for what you're working on. Absolutely.Deepthi:19:34So I'm about to finish the first part of my project, so I would like to wrap it up, you know, produce some good results and maybe get a publication out of it. And after that, yeah, I have a plan for what is to be done next, regarding the same, using the same similar approach but in a different setting. Yeah. So I'm looking forward to that.Erica:19:59Can you tell us what the different setting is or is that classified?Deepthi:20:03I'm not sure. (Laughter)Erica:20:05Right. We'll leave that one alone.Lingxiao:20:08So doing an internship here at TGS is an amazing adventure. I learn and discover new things everyday and I feel time passes very quickly, and everything is moving at a timely manner. So it's pretty good.Erica:20:24Nice. So I think we kind of touched upon how you guys are going to apply what you've learned here, at your careers as you go forward. Is there any particular job title that you guys think you're going to go towards?Deepthi:20:44Yeah. I probably will be going for a data scientist role, or I can say because of my background in reservoir engineering, I can go both on the data and science roles or the reservoir engineering roles. But yeah, from my experience here, I would, I think I would prefer to go to the data and data science roles because, there are like lots of opportunities out there and, the experience that I've gained here, I, I think it's going to be very helpful finding a full time position later on. Yeah.Lingxiao:21:18I could consider becoming a Geoscientist in the oil and gas or becoming a structural engineer because I have a programming background.Michael:21:32Yeah. I wouldn't say I have any career title I'm, I'm seeking out, but perhaps data scientist, but I'm not sure.Erica:21:41So what advice would you give to the interns who are going to be coming behind you?Michael:21:46Yeah. So probably to just build strong relationships with the team that you're in. Learn as much as you can, as deeply as you can.Deepthi:21:58Yeah. I would suggest that before coming in, you can go through, or if they have a set plan for you. In my case they did. So I had read up and you know, known what I'm going to work on so you can, you know, straight away start working on the project you have a rather than, you know, spend a lot of time, reading up those things that can happen before you start the internship. And yes, once you're here, it's, very important to like keep in touch, you know, meet the mentors every day or you know, update them so you have a clear path that you need to, yeah.Erica:22:44Lingxiao?Lingxiao:22:44I would suggest to go talk with people and you see what everyone is working on.Erica:22:51So learn, learn what other people are doing as well.Lingxiao:22:55Yeah.Erica:22:55That, yeah, that makes good sense. So why did you guys apply for the internships here?Michael:23:05So I applied, cause I was just looking for an internship and I had heard that, well I had heard that, (Laughter)Erica:23:14Honest.Michael:23:14(Laughter) I had heard good reviews from people who I respect and and I knew that they had a new data and analytics team doing machine learning, doing things with machine learning. That piqued my interest. And so I told them I was interested.Erica:23:28So kind of diverge off of that. So what programs are you guys using? Like actual hands on programs?Michael:23:36Yeah. So, programs for me are pretty, pretty simple. I use, a coding ID, visual Studio Code, and an Internet browser.Erica:23:43Whoa, okay.Michael:23:46I do that to do my work.Erica:23:47Google and a calculator, alright.Michael:23:49Yeah, pretty much.Erica:23:52Deepthi?Deepthi:23:52Uh, what was the question again?Erica:23:56What programs do you guys use?Deepthi:23:59Again, I guess we are in the process of making a program, so what I use is just Jupyter, it's very basic.Erica:23:59It's built on Python correct?Deepthi:23:59Yes, it is Python, I use Jupyter ID, and I'm in the process of making something useful from scratch.Erica:24:22So lastly, would you guys recommend a TGS internship to your fellow students?All:24:27Yes, definitely. Yes. Yes, yes. Yeah. Awesome. Yes.Erica:24:34Okay. So open question to the table. What are you going to take back to your program that you learned from your internship here? Starting with Michael to the left?Michael:24:42Yeah, so I'm learning a lot about machine learning and so in computer science that's obviously going to be a direct parallel. I can take that back. But I really think that what I'm learning most here that I'll take back is just how to collaborate with people, how to talk with people in a team and work in that way. I think that'll -Erica:25:05Life skills.Michael:25:11Yes.Erica:25:11Lingxiao?Lingxiao:25:11So, since machine learning in such a hot topic. Now, the work that I did here could be really extended into a project in my PhD research. So, yeah I'm currently working on that.Erica:25:28Awesome. Deepthi?Deepthi:25:29So right now we're working on a clustering of time series data. So my, one of the projects that I'm working, at my Grad school is also on time series data, and I think I might be able to, you know, use the insights that I gained from, from TGS, directly to my, research. So that's something that I'm looking forward to.Erica:25:52Awesome. Okay, well thank you guys for talking with us today and I guess we'll let you get back to work now.Michael:25:59Thank you for having us.Deepthi:26:00Thank you.Lingxiao:26:01Thank you.Erica:26:01And now our last group for this episode, the geoscience interns.Erica:26:08Going around the table clockwise, we have Sean Romito. You're from the University of Houston, majoring in geology. You are working towards your PhD and you are studying magnetic basement structure of the Caribbean plate, tectonostratigraphy of South Gabon and Camamu-Almada conjugate basins. I totally know what all of that means. What career are you working towards?Sean Romito:26:35Oh, hello. Thank you for having me. Definitely exploration Geoscientist, this is kind of where I've been propelling my career, ever since I started with a bachelor's and I've just kinda been stepping towards that goal.Erica:26:51Awesome. All right. Now we have Geoff Jackson from the University of Louisiana at Lafayette Majoring in petroleum geology. Your program is a master's degree and you graduated last spring. Congratulations!Geoff Jackson:27:07Thank you!Erica:27:07You studied a prospect lead off of a salt dome in southern Louisiana, and you cannot give us any more details than that.Geoff:27:14Unfortunately yes.Erica:27:14Very mysterious. So what, what are your career goals?Geoff:27:19Uh, similar to Sean's I was going to say, I can probably speak for the group here, but we're all just trying to be geologists and getting on with an operator, going to say probably best case scenario.Erica:27:28Awesome. Next we have Hualing Zhang, from the University of Houston, majoring in geology, working towards a PhD. And you're studying structural analysis and gravity modeling in the Permian Basin in West Texas. And you are originally from Urumqi, Northwest China and you got interested in geology about traveling around. That is so cool. So is your career goal the same?Hualing:27:53Yeah, basically similar, I'm working towards a career goal in the oil industry. Yeah. Since, like, my dad is also a geologist. Yeah. He works in PetroChina. So yeah, that's also my career goal.Erica:28:08Awesome. Yeah. Awesome. All right. And lastly, Cahill Kelleghan from Colorado School of Mines, majoring in geology. You're working towards a Masters of science and geology, and you're studying sedimentology and basin analysis / modeling with your thesis being in the Delaware Basin. So career goals?Cahill:28:28I'm pretty similar. I like to be in exploration geology and I really like sedimentology. So yeah, just applied geo science.Erica:28:36Awesome. Cool. So can you describe for us the projects that you guys are working on this summer? Same project or different project?Sean:28:46TGS has kind of tasked us with, I'm putting together some potential prospects or ideas of places we can look and most of that's going to be happening, well, we think it'd be North America and North American basins. And so we've kind of gotten access to some of their pretty amazing software, access to a lot of different databases and kind of putting that all together for a big picture of something useful that they can hopefully use from our projects. So I don't know if you guys want to add anything.Geoff:29:15Yeah, I mean, for one thing with these projects that's been very helpful to leverage the software that TGS has, specifically Longbow and access to their wealth of onshore well data that they have there. So we've been kind of bringing all of that together to generate these areas where we think that we should move further into as a company.Hualing:29:40Yeah. Also the first two weeks we're like working separately. We each have a study area and it's just a information gathering and doing researches and moving forward. Right now we are working in pairs. So, me and Geoff, we are working on similar location and to do like a research in a more detailed way. Yeah.Erica:30:05So you guys mentioned the software programs you're using. So aside from Longbow, what other programs do you use?Cahill:30:14Um, a lot, a lot of work in Kingdom. But Longbow yeah. Longbow and Kingdom. I'd say probably the big two. Yeah. yeah.Sean:30:25Any, I mean, any time you talk about geology, Arc Gis is going to come up. So we've definitely been using that a lot as well.Erica:30:32Okay. And is that different than what you were familiar with, from school or is this the same training that you had?Sean:30:39Well, Longbow is completely different. You know, even looking at production data is not something that I, you know, geoscientists when we ever, we go through academia, we even get exposed to. We use Kingdom. But I think it's, it's more of on a limited basis. I've, I've really been able to work a lot with, the, the well interpretation suites here at TGS that I hadn't worked with before.Erica:31:03Cool. How do you, do you find that challenging or kind of a natural extension of what you are already working with?Sean:31:11I mean, I, yeah, challenging, interesting, different. The team here, the geoscience team here has been very helpful, with the different, features. I'd say there are bugs. Some people might say they're features with the Kingdom software. (Laughter) but I'd say challenging. Yeah, but, but in a good way, not, not as a, you know, wringing out your hands kind of way.Erica:31:33So what else have you guys learned besides Longbow?Geoff:31:37I think for me is just kind of seeing just like what a day-in and day-out sort of process is like. So like having worked in the field, I never walked, I've never worked in a corporate environment before, but just kind of seeing how teams integrate and work together, it's going to say I've never seen that portion before. And so for me it's been fun, you know, going from classroom and then getting the actual hands on application of what we learned in the classroom. That's what's been fun for me so far.Erica:32:01Anyone else agree? Agree, disagree?Sean:32:03I agree. Yeah. No, I mean another thing that I feel a lot of us, especially me and with my Phd projects, they're very wide scale. I'm not talking about basins, I'm talking about plates. And so it's been very rewarding to kind of zoom in. Even if we are still basin scale, that's a lot smaller than I'm used to. So I'm able to kind of get lost in the details more than I would in a very large scale study.Hualing:32:28I think also a good thing is we learn from each other. Like where were you working together? Yeah, we're getting familiar with the software and if any of us found something and others will get around and see what we found. And I think that's very important for us to learn.Erica:32:48Yeah, absolutely.Cahill:32:50Yeah, I think kind of going off that as well and we obviously us for come from different backgrounds in Geo Science and what we've worked in and we kinda bring those backgrounds and each of our own projects and we kind of can come together and help each other out in different areas that we might not be more experienced with, like certain, well log interpretations or mapping things, stuff like that. So, so yeah, it's, it is helpful to have a team.Geoff:33:14Good overlap.Erica:33:14What's it like working at TGS, culture wise? The people, the food?Sean:33:22(Laughter) well they treat us well hereGeoff:33:24I was gonna say no complaints there. Yeah, I mean getting started in know there's always a learning curve, but I mean I guess as much of a learning curve as there could be, you know, everyone around here has been as helpful as possibly could be, you know, to help make that climb that much less steep, if that's a good way of wording it. But that's kind of what I would think.Cahill: 33:43The food is definitely good. Healthy. I like it.Sean:33:45Can't complain about free lunches.Cahill:33:47Yeah. But, but I mean I think the culture here is really, everyone's been extremely nice and even just within the geoscience team, a lot of nice guys; Cian and Alex, they've been so helpful with any questions we have, whether it be geology related or software related, and we've had company outings already. Going on Top Golf is super fun. Everyone's very open to meeting different branches and whatnot. So that was really fun.Erica:34:12Why did you apply? Did it, for TGS' internship program in particular?Sean:34:17Well. Yeah. So, our professor, me and Hualing, we have the same, advisor at the University of Houston. Dr. Paul Mann. And he was actually the one that reached out to us because, James, the head of the Geoscience Department here, had reached out to him looking for good candidates. and he had asked us if we wanted to, to join up. We, we kind of, you know, we researched it. We, I was, I talked to James on the phone and it just seemed like something, so different from what I was doing at the moment that I felt like it was a great opportunity to jump back. And it, I have absolutely no regrets.Erica:34:54Awesome.Geoff:34:54Yeah, my story is pretty much the same thing. My thesis advisor was, was good friends with James K and so he reached out to me and saying, pretty much the same deal as him. Looked into you guys, obviously cause say Jason, I met you before. So that, and also, the interns from last year, I was going to say I was good friends with them too. So I knew what they did. And so, here I am.Erica:35:17Any surprises along the way? Anything that you weren't expecting that you've encountered during your time here?Cahill:35:25I guess one thing is, it shouldn't be surprising, but I'd always is that I'm working with really big data sets. There's always lots of errors you have to put up with. And even with the amazing technology we have, there's always, there's always a human aspect to it, that's always interesting, that we've dealt with in our data at least so far.Hualing:35:44I think for me it's the flexible working time and my, yeah, he didn't request a specific time to be here or like a specific time to leave. So that's like really helpful for my schedule that I can make adjustment along and try to see by what time range works best for me. Yeah.Geoff:36:08Yeah, that's definitely been nice. I feel, like you said having to commute from Spring. I was going to say, getting to come in maybe later or earlier as need be. It's always definitely nice to dodge that traffic.Erica:36:22What are you guys looking forward to working on for the remainder of your internship here?Geoff:36:27Well, I'm really excited to see the end product of what we're doing, especially because, we're going to be presenting it to upper management, and presenting it to our, our geoscience team as well. I think that's really going to help bringing it all together. Cause right now we know we're all working on our separate areas as well. I mean, we're still two teams in a certain area, but it's still very much our own work. And so that, that finish line I think is going to be where it all comes together and I see more bigger, I see a bigger picture than maybe I'm seeing right now.Geoff:36:57Yeah. I think one aspect that I like about is, it's not just busy work. You know, we're actually adding value to the company with an end result. Kind of like what Sean said.Erica: 37:06No making coffee?All:37:08(Laughter) Danggit. For ourselves, we make coffee for ourselves.Erica:37:14Um, what advice would you give to other students wanting to intern here?Cahill:37:20Say like, don't be afraid to get into anything that you're not experienced with. Whether it's geology or software related. Since coming here, I feel like you can learn a lot from a lot of different people and there's a lot of different backgrounds here and people are all open to helping you or talking about their passion and their little branch of geology or geoscience. And so I would say don't be afraid to ask questions and go up to random people and say, hey, what do you do here? And what are you into? Because chances are they're happy or passionate about their job and you can probably learn something from it.Geoff:37:54Yeah. Maybe to add onto those, don't feel like you have to know everything beforehand coming in. Cause I mean you're not, no one's gonna know everything. Kind of like what Cahill said, there's plenty of resources around. You don't feel afraid to ask. No. Everyone out here is more than willing to give their time to help you out for what you might have a problem with. And we've had that reiterated to us time and time again. So, I mean, it's been nice to know.Sean:38:17Hmm. And, I don't know if before we talked about how we got the internship, and I feel personal connections are the biggest, you know, it's not about going on a website and clicking apply. It's about going to the conferences and meeting people from TGS and they're extremely friendly. We've all seen that firsthand. So I'd definitely recommend, and I, I would recommend it as well that you would get an internship with TGS, but just go up and see them during conferences, talk to them, ask them about opportunities, say, Hey, what are you guys doing? Be interested. and even if you don't get something out of it, that's fine. You're still gonna make connection, connections and learn about where the industry's heading.Hualing:38:53Yeah, I definitely agree with Sean, cause I met Alex on with, the person, our geoscience group, we met during the AAPG meeting at San Antonio and I talked to him and, he talked to me about his project and what I may be expecting for my interns. I think that definitely helped. And yeah, when I first day, when I came here, I saw him as, hey, yeah, that's, yeah. I feel like familiar and yeah, I'm more easy to get along. Yeah.Erica:39:28What have you gained during your time here at TGS that you're gonna take with you as you continue your studies and your career?Sean:39:36Everything we just talked about. Yeah, no, I mean that, that's a good sum up question. So the, the connections we've made with all the people here, not just in the Geo science team, every, every other team that there has that there is at this company. All the skills that we're learning with these different programs, the different perspectives we're getting because we're looking at, again, not just geological data, we're looking at, these problems more holistically. All that and above, I think is what we're going to take with us.Cahill:40:02Yeah. I think, you pretty much nailed it on the head. It's seeing the, the geoscience in an actual industry application in its own way. It's a lot of different moving parts coming together for an end product that's ultimately valuable and generates business. And then seeing how that works, you know, if on a fundamental level that's, that's pretty interesting and being able to be a part of, it's pretty cool. So.Erica:40:27Well, awesome. Well, thank you guys for being here. Thank you for talking with us today, and we'll let you get back to work.
On this episode of the Managing Madrid Podcast, Kiyan Sobhani and Gabe Lezra discuss: The nervey Croatia - Russia match, and how Croatia could take down EnglandHow fun will France vs Belgium be?Importance of Casemiro for BrazilLuis Enrique appointment / Fernando Hierro stepping downLatest Cristiano Ronaldo updates, and what's nextThe argument against signing Ronaldo if you're JuveAre there positives to losing Ronaldo if you're Real Madrid?A potential James returnLuka Modric's legacyExtreme hypothetical: Real Madrid lose Ronaldo and Benzema while missing out on Neymar, Mbappe, and KaneDani Carvahal vs Alvaro Odriozola at age 22What happens to Achraf?And a ton more. Did you enjoy this podcast? Please consider supporting us through Patreon: Patreon.com/ManagingMadrid Learn more about your ad choices. Visit megaphone.fm/adchoices
Enjoy, and let us know your thoughts!What we've acquired: 0:15:10What we're hunting: 0:16:22What we've been playing: 0:20:35TransAtlantic review: 0:22:10 Play-through "stats" website: elephasmaxim.usAll of the ratings we have given on Heavy CardboardGames We've AcquiredBiosL Megafauna Bios: GenesisThe Flow of HistoryCombat InfantryGames We're HuntingTokyo SeriesSeize the Bean UBOOT NewSpeak Warriors of Jogu: FeintAmerica Falling: The Coming Civil WarNormandy: The Beginning of the End Corsair LeaderThunder in the EastHermetica Gentes The Scarlet Pimpernel CO2: Second Chance Brasil Aleph Game StudioWhat we've been playingTransAtlanticWarriors of Jogu: FeintFeudumRising SunFeudalia18CZ1849Bruxelles 1893GentesSanta MariaYouTube channel! Support the show! PledgeHC.com The Herd map is here: Click to add your mark! Be sure to join the discussion over at the guild to discuss the episode with us & your fellow Elephants!
Q&A #3 What state would you recommend for a first Elk Hunt? 00:00:52 - 00:01:30What bipod are you using Frank? 00:01:30 - 00:02:26How do you call in a Bull Elk inside 75yds 00:02:26 - 00:04:55What type of Archery Elk hunting is more productive in Colorado? 00:04:56 - 00:06:56What camera does Aron use. What would you recommend for a beginner outdoor photographer? 00:06:57 - 00:08:45Do you like private land or public land hunting? 00:08:46 - 00:10:07What weapon do you prefer for weapon hunting? 00:10:08 - 00:11:53What DOA arrow rest do you prefer? 00:11:57 - 00:13:24Is there a lot of public land in eastern Colorado to hunt Mule Deer with a bow? 00:13:25 - 00:13:50How would you prep for a hot weather mule deer hunt? 00:13:51 - 00:15:06When would you use a Kifaru Meat Bag over a synthetic bag? 00:15:12 - 00:15:56What after market cables do you use? 00:16:07 - 00:17:50Where do you buy SPAM in bulk and how would you field judge a cougar? 00:17:51 - 00:19:06What do you have planned for hunts next year? 00:19:07 - 00:21:46What shelter would you run for 2 guys on a 12 day hunt in Alaska? 00:21:47 - 00:22:22Can you swap out stays at home? 00:22:23 - 00:22:45Any plans to release a 3000ci bag next year? 00:22:56 - 00:23:06What is your beef with KUIU? Frank didn't say "Wonderful" 00:23:11 - 00:26:20Advice on buying a used bow 00:26:25 - 00:27:00How many times can you post a photo of the same animal before it is too much? 00:27:52 - 00:29:22What is your favorite sleeping pad for early and late season? 00:29:22 - 00:30:05When looking for an OTC Elk Tag what do you look for? 00:30:16 - 00:31:16When will you open up a satellite store? 00:31:17 - 00:31:28What grain broadheads do you recommend for Elk? 00:31:28 - 00:32:38What is your third favorite podcast? 00:33:04 - 00:33:41Best recommendation for cleaning the blood off of your pack? 00:33:41 - 00:34:37What books do you recommend for bowtuning? 00:34:39 - 00:34:59Sawtooth or TUT? 00:36:51 - 00:38:19What is the best way to travel with gear when flying? 00:38:20 - 00:39:41 What is your favorite rain gear? 00:39:44 - 00:42:27Puffy pants...what do you recommend? 00:42:34 - 00:44:13Do you take items for luck? 00:45:51 - 00:46:22Stabilizers and Cams: 00:46:41 - 00:47:43What three person shelter do you recommend with kids? 00:47:51 - 00:48:48Peanut butter bar or SPAM sando? 00:48:53 - 00:49:46What other packs have you used that have performed better than expected? 00:49:46 - 00:50:23Merino wool or Cotton? 00:50:54 - 00:52:10Pack options for an Elk hunt: 00:52:10 - 00:52:54Do you use a Prime Logic? 00:53:01 - 00:54:23Is Kifaru going to make a nest for a floorless shelter? 00:54:51 - 00:55:40what is most important when eastern hunters are preparing to hunt out west? 00:55:45 - 00:56:34Hunting in Minnesota: 00:56:35 - 00:57:33How to deal with Jeff Lander: 00:58:52 - 00:59:25Insert and outsert: 00:59:26 - 01:00:02What is the new pack in recent photos? 01:00:03 - 01:00:47What is your choice for software for audio video and photography? 01:00:49 - 01:00:58How did Aron get into the outdoor industry? 01:01:05 - 01:02:38Should I buy a Kifaru pack now or wait for the new gear to drop? 01:02:42 - 01:03:28Pack with a rifle scabbard: 01:03:45 - 01:04:09Giveaway: comment on this podcast!
This week we are joined by Mythery & Propane to talk about what design decision we would rewind, the current raiding scene, and Update 36 patch 2!Have thoughts on this show, ideas for round table topics, questions youd like us to answer, or topics youd like to see us debate? Leave us a comment, send us an email (ddocast@gmail.com) or give us a tweet (@ddocast)!Check out www.ddocast.com for mp3 audio, our show calendar, swag, archives, and more!Want to support the show? You can feed the kobolds (give money) on our Patreon page (https://www.patreon.com/DDOCast)! We use these gifts to support the show and give out prizes.Rewind one design decision - 1:48Are raids on their way out? - 20:40What should be done to improve the raiding scene? - 34:10What is the toughest non-raid boss fight in the game? - 42:22What should a mimic impersonate for the maximum chance of killing an adventurer? - 47:40Game News - 52:00Community News - 1:10:40Lightning Post - 1:16:24Closing - 1:26:14Watch shows live at twitch.tv/ddocastDDO Chronicle 252 - https://www.ddo.com/en/news/ddo-chronicle-issue-252Update 36 Patch 2 - https://www.ddo.com/en/update-36-patch-2Mickis Delirium: Silly Silly Mimic - https://mickisdelirium.wordpress.com/2017/09/30/silly-silly-mimic/DDOCaSplat! Special: Lava Divers Elite Riding the Storm Out - https://youtu.be/8S61G0FQ-0Y
Spoilers Contained! Game of Thrones "The Gift" Jon heads east as trouble begins to stir for Sam and Gilly at Castle Black. Sansa asks Theon for help. Tyrion and Jorah are sold as slaves. Cersei savers her triumph over the Tyrells as new plots are developed in the shadows.-IMDB Starring: Peter Dinklage, Nikolaj Coster-Waldau, Lena Headey, Emilia Clarke, Kit Harington, Aidan Gillen, Charles Dance, Natalie Dormer, Liam Cunningham, Stephen Dillane, Carice van Houten, Alfie Allen, John Bradley, Jack Gleeson, Isaac Hempstead-Wright, Rory McCann, Sophie Turner, Maisie Williams, Gwendoline Christie, Jerome Flynn, Conleth Hill, Iwan Rheon, Pedro Pascal, and Iain Glen Jessica and Dean's Discussion Notes The OffenderatiIt was kind of, "meh."Theon blue ballsA glorious side haunchSacred vows be damned - 05:22What color is Sam's parachute?Jet Blue direct flightsAemon is crazy... and forever deadEmpty hopelessness in lifeD&D are trolling usAlliser's terrible funeral mannersDean screws up the episode orderSam finds courage - 14:48Learn to swing a sword dudeCourage in the face of fearA list of people Jessica hopes Ghost eatsThe King Who Ran...? - 20:00We've lost confidence in Stannis potenceIt's been 4 days since Stannis burned someoneLet's talk Winterfell - 25:32Joffrey vs. RamsayDean sticks up for Joffrey...?Oh Theon - 31:19Will Theon become emotionally compelled enough to act?Sansa will kill Theon once she has an escape optionHow does Brienne factor into it allAlways under lock and keyDorne is kind of a let down except for Bronn's pipes - 40:08We need more Bashir!Showing your boobs to rando-dudesDid she use boob magic against Bronn?Princess rescue tropeEveryone talks wrong tonight - 48:45Jorah, Tyrion, and The Mother of Dragons - 50:20Slave movie tropePeter Dinklage is the bestDaario the ButcherFighting pits RETURN!Emilia Clarke's subtle acting was excellentAren't those slaves fighting? - 57:33My name is Tyrion LannisterDaenerys finally is connected to the rest of the showWhere is Varys?I'll kill them all... after I cry with my mommy - 1:02:20Bested by an old man with dirty feetThe High Sparrow's ambitions are larger than he pretendsLittlefinger's gifts and plans - 1:09:09If Robin becomes king...Why can't Cersei just fall in line for the sake of her son?The prophecy from episode one could be bad news for TommenA dramatic entrance - 1:18:55Listener comments - 1:21:46Final thoughts ContactEmailSpeak Pipe Subscribe to LSG's "A Game of Thrones Podcast"iTunesStitcherRSS: http://gotonlsg.libsyn.com/rss(Cut and paste RSS address into podcasting app search function) Subscribe to LSG's "The Walking Dead Podcast"iTunesStitcherRSS: http://twdonlsg.libsyn.com/rss(Cut and paste RSS address into podcasting app search function) Subscribe to LSG's "The Science Fiction Film Podcast"iTunesStitcherRSS: http://sciencefictionfilmpodcast.libsyn.com/rss(Cut and paste RSS address into podcasting app search function) SupportPatreonWebsite