Can Venezuela Replace the Permian? Not a Spigot + What to Watch Next | BDE 01.09.25

Headlines love tossing around Venezuela’s “303 billion barrels” like it’s a magic switch, but the reality is messy, expensive, and slow. Mark and David Pursell, Adjunct Professor of Petroleum Engineering, walk through why heavy oil, busted infrastructure, and shaky politics make this a long-cycle rebuild, not a drill-and-chill moment, plus what to watch in markets when the story sounds too easy.Click here to watch a video of this episode.Join the conversation shaping the future of energy.Collide is the community where oil & gas professionals connect, share insights, and solve real-world problems together. No noise. No fluff. Just the discussions that move our industry forward.Apply today at collide.ioClick here to view the episode transcript. 00:00 Intro and why Venezuela is everywhere02:10 David’s Venezuela background and PDVSA history07:40 Why production is hard to restart09:20 Reserves vs resources and the heavy oil problem12:45 Refining limits and why Canada filled the gap16:05 Capital, contracts, and what companies actually watch24:45 Guyana, Argentina, and above-ground risk29:00 Inventories, OPEC, and where the “surplus” is hiding37:15 What to watch over the next 18 months50:10 Saudi data story and why numbers get political55:20 Teaching, capstone, and wrapping uphttps://twitter.com/collide_iohttps://www.tiktok.com/@collide.iohttps://www.facebook.com/collide.iohttps://www.instagram.com/collide.iohttps://www.youtube.com/@collide_iohttps://bsky.app/profile/digitalwildcatters.bsky.socialhttps://www.linkedin.com/company/collide-digital-wildcatters