Chairman's Message

Flo Akintunji

                                                                                                                           State of our Section!

The state of our Permian Basin Section is strong! We are having a great year on many fronts. High attendance at Section and study group meetings indicates strong interest in our topic offerings. Our members, especially the young professionals (YP’s), have been successfully engaged in a variety of monthly volunteer and community service activities. Also, many thanks to the students at the SPE Texas Tech chapter, who have continuously exceeded our expectations with their service, reliability, and professionalism. In addition, our 28th Annual SPE Permian Golf Tournament last November was very successful, even after two rainouts. Proceeds from this tournament have historically been one of the primary sources of revenue for the Permian Basin SPE Scholarship fund. Another major source of revenue is the upcoming 8th Annual Sporting Clays Shoot on March 29th, at Jake’s Clays. Please see more details about the tournament to the right on page 3. We are extremely grateful to Concho Resources for being the title sponsor again this year, and are asking for additional patronage in the form of sponsorships and/or shooting teams from other companies here in our community. Last year, our Section awarded $91,000 in scholarships to well deserving college students. The criteria for selecting the students is high, and our scholarship committee painstakingly goes through the applications to select the best candidates. Our goal is to be able to award a scholarship to every student who meets the criteria, and with your continued patronage through events like the Clay Shoot, we can git-r-done!

Our 2nd Annual Frac Month in February was a success! Our study group and Section meetings focused on hydraulic fracturing, and we also held a panel discussion on “water management in the Permian Basin” that was very well received. Thank you to all our speakers and attendees who made February’s Frac Month a wonderful learning and informative experience. Keeping the good times rolling, in addition to the Clay Shoot at the end of the month, March will feature some exciting meetings.
Please see below for a summary, and inside the newsletter for more details:

o   Completions & Operations meeting (3/7) – Matt Tourigny presenting on “Snubbing 101.” Please RSVP here: https://bpt.me/4095825

o   SPE-YP Meeting (3/19) – Alex Bruns presenting on “Bacteria Management in the Permian Basin.” Please RSVP here: https://speypmarch.bpt.me

o   Section Meeting (3/21) – Ryan Duman presenting on “The follow-on effects of faster tight oil decline rates: growing project  spend and more M&A.” Please RSVP here: https://Mar2019.bpt.me/

o  Completions & Operations meeting (4/3) – All day Production Management Symposium. Please RSVP here: https://bpt.me/4095850

To wrap this up, I want to discuss three more items. Firstly, we have continued sending out emails to all, including those whose membership has expired. We would love to have you renew, and enjoy the full benefits of SPE membership which you can find here: https://www.spe.org/members/benefits.php. Secondly, our Section Board of Directors has unanimously voted to update the Section Bylaws. One of the goals with the update is to streamline the nominations process for Section Officers, making it more efficient and less onerous for candidates. Please see the updated bylaws here: https://connect.spe.org/permianbasin/communityresources/librarynewsletters. I will bring these proposed changes to a vote for ratification at the April 11 Section Meeting. If you need any additional information before then, please reach out to me or any of the Section officers (see our contact information at the back of the newsletter). Lastly, the US Energy Information Agency (EIA) released a report earlier this year predicting that the U.S. will become a net exporter of crude oil and other petroleum products by 2020. Incredible to think that we were at a deficit of about 7 million bpd just six years ago. We are well on our way to achieving this, and hopefully, proposals like the “Green New Deal” don’t derail this progress…