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Chairperson's Monthly Newsletter June, 2019




Section Members,

 

So far, 2019 has been another interesting year in the oil industry. We’ve seen oil prices climb over 40%, major acquisitions, and still, layoffs and early retirement packages. Many companies will come and go, especially in the Dallas market. Even with rising oil prices and general knowledge of how oil makes the world go ‘round, there are still those out there who see our industry as antiquated and soon to be obsolete.  

            We seem to be portrayed as selfish, greedy, money-grubbing fools who want nothing more than to earn a buck at the expense of the rest of the world. We are seen as the character from the Simpsons, Mr. Burns. My experience, much like many of yours, has been quite the opposite. Many of the people I work with genuinely care about my well-being. They are kind, pleasant, people who work diligently to provide for their families. Many people I know have been laid off, and their next employment opportunity seems to come from an acquaintance. We are all extremely fortunate to work in such a business, which is why I would encourage everyone to advocate for our industry. We have a lot to be proud of:

  • Oil was the original Greenpeace. Prior to petroleum production, whales were the primary source of lamp fuel. As the less foul-smelling oil from sperm whales became more expensive due to stressed fisheries, petroleum swiftly became a viable product. Sperm whales still exist today.
  • Oil has prevented entire forests from being completely harvested for fuel.
  • The oil industry has operated in some of the harshest environments known to man. From the cold, high-pressure depths of the ocean, to operating in SAGD environments, we have developed technology to handle almost any environment in the world. Some of these environments are harsher than space.
  • Taxes from production have funded schools, roads, and various public works. That revenue would not exist without our industry.
  • We still a people-driven industry. People willing to stick their necks out are the ones that continue to drive technological advancements, which allow us to work in a plethora of environments.
  • We provide safe, low-cost medical equipment to the world. Prior to plastics, vaccinations were given from reusable syringes. Plastics allow safe intubation, sterile blood transfer, and cool stickers for kids after their check-ups.

For all these reasons, I ask that when someone outside of the industry you know decides to bring up fracing, you approach them with an advocacy mindset. Be kind and calm, and remind them how they got to Hawaii for their honeymoon, what their iPhones are made of, and why Legos even exist. Never assume ill intent if it can be explained with ignorance.

 

Last Month

We had Luis Mendoza-Natividad discuss Decision Quality in Field Development Strategies in the general monthly meeting on May 15th.

The Study Group featured Kevin Wutherich, who spoke about stage-specific diverter strategies using lateral heterogeneity.

If you were one of the lucky ones, you pre-ordered your t-shirt. Thanks for everyone that supported that effort.

My second favorite SPE event, Casino Night, was held on May 3rd. I heard it was a lot of fun, as per usual.

 

Looking Forward:

My favorite SPE event, the Annual Golf Tournament, will be happening on the 3rd. I’m looking forward to seeing everyone out there.

Our last Distinguished Lecturer of the season will be speaking about the Exceptional Price Performance of Oil, make sure to register. For more information on the Distinguished Lecturer Program, click here.

The YPs will have a networking event at Bishop Cidercade, that will be graciously sponsored by Schlumberger.

There will not be a Study Group meeting this month. Instead, we will be holding our annual Summer Seminar. This year we’ll be learning about completion case histories through successes and failures.

 

Make sure to follow us on LinkedIn, where all our events (and more) are posted: https://www.linkedin.com/company/spe-dallas/.

 

Thanks to the early adopters of our advertising campaign, SPL and Axis Energy Services. For those that would still like to advertise, contact Joseph Fu: joseph.fu@pxd.com

 

If you have any ideas, comments, concerns or would like someone to talk to, feel free to contact me. My email is colin.beasley@denbury.com.

Sincerely,

Colin Beasley

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