Hart Energy Podcast: Recent Episodes
Hart Energy
All things energy.
Hart Energy provides timely and targeted information to a worldwide audience that includes E&P companies, pipeline operators, refiners and finished fuel producers, service companies, the financial and investment community, engineering and automotive industries, utilities, leading NGOs and the world's major governments. Support this podcast: https://anchor.fm/hartenergy/support
In this exclusive roundtable, executives from Enverus, KPMG and Rystad Energy discuss key trends, opportunities and challenges that are expected to shape ESG in the oil and gas sector in 2022.
From increasing disclosures to stronger investor sentiment, the past year saw an expected upward growth of ESG initiatives taken by the oil and gas sector. While many are calling 2021 the year of ESG investing, there’s little debate left about ESG now being core to the energy business.
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Jason Reimbold, managing director of energy investment banking at BOK Financial, gives his take on the state of energy finance and dealmaking plus a preview of oil and gas activity from the Midcontinent region.
Despite entering another pandemic year, the state of energy finance is definitely brighter than it has been—even pre-COVID, according to Jason Reimbold, managing director of energy investment banking at BOK Financial.
“In fact, the volatility is really what speaks to the opportunity,” Reimbold told Hart Energy Editorial Director Len Vermillion.
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In this exclusive interview, Rystad Energy Head of Shale Research Artem Abramov sheds light on flaring trends and what’s driving declines in the Permian Basin and Bakken.
Gas flaring hit a record low in the U.S. last fall—a trend that Artem Abramov, head of shale research for Rystad Energy, expects will continue.
“Based on what we hear from some E&P companies when we talk to them, I have a high degree of confidence that gas flaring will continue to decline in the next two to three years,” Abramov told Hart Energy in an exclusive interview.
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Cleantech is expected to remain a dominant investment theme among oil majors as sustainability and ESG become more prominent features of company strategies.
Roughly a decade ago, oil and gas majors began launching corporate venture funds dedicated to nudging innovation in clean energy.
While the original goal was to outsource R&D efforts, achieve operational efficiencies and improve profitability, these venture funds have helped oil majors navigate the challenges of a broader energy transition and achieve ESG goals, Samuel Dibble, partner at Baker Botts, told Hart Energy.
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Digital experts offer deep insights on how remote operations, IoT and digital twins are evolving in today’s fast-changing environment.
As the oil and gas industry adapts to its new reality, new technologies are playing a key role in helping companies make better data-driven decisions. In an exclusive roundtable discussion, senior executives of digital agreed that advancements in AI, augmented reality and data management are all driving the transformation of the industry as it transitions to a low-carbon future.
Speakers: Shan Jegatheeswaran, Vice President of Digital, Oilfield Services, Baker Hughes
Sujit Kumar, President, Agora, a Schlumberger venture
Stuart Thomson, CTO, Ikon Science
Gino Hernandez, Head of Global Digital Business, ABB
Jump to a topic: Future of remote operations (0:56)
Digital twins and asset optimization (6:28)
Digitalization and decarbonization (9:59)
Why is data management so important right now? (14:40)
Future trends (21:37)
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In an exclusive roundtable discussion, executives offer expert insights on the road map to net-zero emissions and the immediate actions required from governments and businesses.
Jump to a topic: How realistic is the net-zero goal? (0:44)
Progress toward the goal (4:54)
IEA’s report findings (10:30)
Challenges on the path to a net-zero future (13:00)
New technologies for decarbonization (17:21)
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In this roundtable, offshore experts provide insights on how new technologies are opening the door to a new era of productivity and efficiency in offshore exploration.
Considering the reality of continued oil and gas demand for decades to come, the offshore exploration sector will play a key role in providing the abundant, affordable and reliable energy that the global economy needs.
In an exclusive roundtable discussion, senior executives of offshore discussed how the offshore exploration sector is well-positioned for the energy transition as it continues to be a source of innovation and new technologies that will help drive the industry’s decarbonization efforts.
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In this exclusive video interview, Diamondback Energy CFO Kaes Van’t Hof talks about the growing sustainable operations of oil and gas companies in the Permian Basin.
As ESG-focused activism continues to gain momentum, there is increasing pressure on oil and gas companies from investors to focus on ESG goals. But even though social and governance are an important part of the ESG movement, investors are more concerned about the environmental performance of oil and gas companies, according to Kaes Van’t Hof, CFO and executive vice president of business development of Diamondback Energy.
“When we talk about ESG, I think the ‘S’ and ‘G’ are important, but for oil and gas, it’s really about your environmental performance that drives a lot of the investor demand,” Van’t Hof said in an exclusive interview with Hart Energy’s Faiza Rizvi.
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There are a few trends emerging among operators when it comes to managing methane. Darcy Partner’s Jack Blears discussed everything from the low-hanging fruit to the sophisticated technology enabling the industry to lower its emissions.
Jump to a topic:
Finding and eliminating super-emitters (0:35)
Limits and cost boundaries (1:00)
Continuous monitoring technology (1:35)
How investors evaluate ratings and reports (2:10)
Holistic ESG ratings (2:35)
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James Curry, managing shareholder in Babst Calland's Washington, D.C. office, says the topics of hydrogen and carbon capture in the energy sector are qualitatively different this time around.
Every 10 years or so, people get excited about the potential for hydrogen and carbon capture utilization and sequestration. Most of the time, the conversations sizzle out and the industry gets back to what it is comfortable doing. This time, however, James Curry, energy attorney and managing shareholder of Babst Calland's Washington, D.C. office, says the conversations seem much different.
He recently sat down with Hart Energy's Len Vermillion in the firm's Pittsburgh headquarters for a frank discussion on the energy transition, including the role of pipelines, hydrogen and CCS in the future energy mix.
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The energy industry is at an inflection point and a moment of resiliency as it experiences a rebound in pricing and recovers from the impact of the global pandemic.
In this IndustryVoice video, Babst Calland attorneys Joe Reinhart, Co-Chair of the firm’s Energy and Natural Resources team; and Jim Curry, Managing Shareholder of its office in Washington, D.C., discuss a range of topics examined in the report with Hart Energy Senior Editor Joe Markman.
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Ajay Bakshani, co-author of East Daley’s annual Dirty Little Secrets midstream outlook, discusses the expectations for $90 billion in free cash flow and why ‘midstream can really do it all in the next few years.’
Ajay Bakshani, capital markets analyst for East Daley and a co-author of the report, said the sector was primed to generate about $90 billion in cash over the next four years, based on research on the 25 companies the firm actively follows. The question for the East Daley team became: with fewer projects, how will that money be used?
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With 2021 soon coming to a close and commodity prices having stabilized, the theme of the oil and gas industry can be described as cautious optimism.
Shareholder focus, new investment options as well as the experience with the last downturn has given U.S. shale producers a different perspective this time around, according to Amy Chronis, vice chair, U.S. oil, gas and chemicals leader, Deloitte.
“They are now pivoting toward a new math, maximizing free cash flows from hydrocarbons, investing in the decarbonization of hydrocarbons, new energies and certainly very aware of all the stakeholder pressure,” Chronis said.
Joined by Kate Hardin, executive director for the Deloitte Research Center for Energy & Industrials, Chronis recently spoke with Hart Energy’s Brian Walzel about Deloitte’s 2022 outlook for the oil and gas industry including the five key trends that the firm believes will likely influence the industry over the next 12 months.
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The new world order of the oil and gas industry surrounds a low-carbon and/or new energy focused business model. And, as capital allocation for these projects grew significantly in 2021, this implies favorable economics for low-carbon producers in 2022.
Nicholas Fulford, the senior director of energy transition for petroleum consulting firm GaffneyCline, said net-zero commitments from all supermajors and most NOCs paired the introduction of new tax credit incentives indicates a new horizon for oil and gas portfolios going into 2022.
“We’ve seen carbon capture and CCUS projects come to age and there is a real following now within the investment community and a real belief in that technology going forward,” Fulford said.
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Even though oil and gas companies are increasingly focusing on reducing the environmental impact of their operations with aggressive efforts centered on the narrative of energy transition, they aren’t going to move away from fossil fuels, at least over the next few decades, according to Dr. Jerry Bailey, director of Petroteq Energy and former president of Exxon Arabian Gulf.
“Oil companies are not going to move from oil, that’s what got them where they are,” Bailey said in a recent interview with Hart Energy’s Faiza Rizvi.
“Oil companies have an important and lucrative niche in this regard. There is no reason to transition away from that. There are enough companies working in the other arenas that can cover those types of things,” he said, referring to renewable energy.
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After spending decades focused on production growth, oil and gas companies transitioned to a free cash flow model in recent years to boost their financial performance and now it appears investor demands are changing again.
“Firms representing over $100 trillion of assets under management have signed up for responsible investments, stating they will consider ESG when allocating capital,” said Manuj Nikhanj, president of global energy data analytics and SaaS technology company Enverus.
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With increasing pressure to fight climate change, scientists and leaders agree that carbon capture, use and storage (CCUS) is a cost-effective solution to meet emissions goals made under the Paris Agreement.
Although aggressive efforts are needed to meet the net-zero goal, oil and gas companies are making significant progress in deploying CCUS projects at scale, according to JP Brisson, partner at Latham & Watkins’ law firm.
“More than 30 [CCUS] projects are in operation globally with more than 40 under development,” Brisson said in a video interview with Hart Energy’s Faiza Rizvi, adding that U.S. oil and gas companies are well-positioned to make progress in the area.
“There are several reasons for this,” he said. “First of all, U.S. is a leader in CO2 injection and sequestration. Companies in the U.S. have been injecting CO2 since the 1970s, which builds credible extensive capability.”
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As the Biden administration in the U.S. and governments throughout the world decarbonization push has spurred a renewable boom, which has created both obstacles and opportunities for the oil and gas space.
With a large amount of capital flowing into the renewables space, the energy industry has responded in a number of different ways, according to Cliff Vrielink, partner in Sidley Austin’s energy practice group.
“Of course, some of the larger supermajors have developed other strategies and are also investing in the renewables space but for the most part I think the industry has been focused on trying to reduce their carbon footprint,” Vrielink told Hart Energy’s Emily Patsy.
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Chris Romer describes himself as not only head of an ESG data company that he helped launch but also the leader of a broader movement across the oil and gas industry as well.
“The movement of Project Canary because we are a project and we welcome you to join us in giving the emissions ‘the bird,’” Romer, co-founder and CEO of Project Canary, recently told Hart Energy.
The company, Project Canary, is a Denver-based start-up at the heart of the responsibly sourced natural gas (RSG) push with a growing number of partnerships with companies across the upstream, midstream and utilities space to provide continuous emissions monitoring and independent RSG certification.
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If there is one person who has played a significant role in expanding Baker Hughes’ sustainability performance and ESG reporting, it’s the company’s vice president of energy transition Allyson Anderson Book, who also chairs the ESG steering team at Baker Hughes.
Book was recently named ESG Champion at Hart Energy’s ESG Top Performers Awards program for her outstanding contribution toward broadening Baker Hughes’ sustainability reporting frameworks and her active involvement in the creation of the company’s net-zero roadmap.
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With a growing focus on climate change, oil and gas companies are increasingly no longer attracting investments solely based on their ability to generate returns but also how environmentally responsible they are while generating those returns.
“The investor community is ultimately seeing a change in risk profiles of the oil and gas companies they are investing in and a growth opportunity, of course for ‘greener’ forms of energy,” David Linden, head of energy transition at Westwood Global Energy Group, told Hart Energy.
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In this exclusive interview, Chris Wright, CEO of Liberty Oilfield Services, shares details from the company’s inaugural ESG report plus the campaign to increase awareness of the benefits of oil and gas that went viral.
In an exclusive interview, Wright told Hart Energy’s Faiza Rizvi that there has been a lot of dialogue around the negative impacts of the oil and gas industry, which are “real and should be acknowledged.” However, he also stressed the need to understand the benefits of the oil and gas industry and how plentiful and affordable energy is absolutely critical across several industries including health care and transportation.
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After spending decades focused on production growth, oil and gas companies transitioned to a free cash flow model in recent years to boost their financial performance and now it appears investor demands are changing again.
“Firms representing over $100 trillion of assets under management have signed up for responsible investments, stating they will consider ESG when allocating capital,” said Manuj Nikhanj, president of global energy data analytics and SaaS technology company Enverus.
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Even though everyday the number of oil and gas companies publishing sustainability reports grow, ESG targets aren’t new to the industry, according to Christopher Valdez, CEO of PureWest Energy, a private E&P company focused on the production of natural gas in Wyoming.
“Commitment to the community, safety and environmental stewardship—these are core values for PureWest but also shared broadly throughout the industry,” Valdez said.
“I think it’s just something that we need to change the narrative and make sure that message is getting out in the marketplace,” he added.
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Aggreko, which set its own net-zero target, helps oil and gas operators achieve sustainability goals by providing power solutions and energy services aimed at improving the efficiency of the operations. Haugan, who serves as sector manager for Aggreko’s North America oil and gas group based in Houston, recently sat down with Hart Energy’s Emily Patsy to discuss what operators can do in the field to boost their ESG scorecard plus how Aggreko can help.
During the interview, Haugan noted the Sustainability Accounting Standards Board (SASB), which publishes specific accounting standards to help companies navigate ESG reporting goals. To align with the industry standards, he said producers could focus their sustainability efforts where they have the greatest impact on the SASB metrics including greenhouse-gas emissions, air quality, water management and biodiversity.
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When it comes to ESG, it’s important to remember the golden rule: “Whoever has the gold makes the rules.”
“ESG is part of being a U.S. public company, especially in the energy industry now, so embrace it and get on board,” said Hillary Holmes, partner in the Houston office of Gibson, Dunn & Crutcher LLP who also co-chairs the firm’s capital markets practice group.
Holmes recently sat down with Hart Energy’s Emily Patsy to discuss the ESG movement and what opportunities exist for oil and gas companies, including the emergence of sustainability bonds.
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How to get public and private capital back to the oil patch? This expert share what’s on investors’ minds and how E&Ps are solving for it.
SPEAKER(S):
Tom Petrie, Chairman, Petrie Partners
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Chris Wright was a leader in the 1990s on tight-rock experiments that transferred to unlocking the Barnett Shale and now the U.S. is a leading world oil and gas producer again. Here, he takes us to school on what’s next and provides insight into Liberty OFS plus Schlumberger’s completions business unit.
SPEAKER(S):
Chris Wright, CEO, Liberty Oilfield Services
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Producing reserves at the northern end of the Delaware Basin, this E&P describes its development program and plans.
SPEAKER(S):
Michael Hale, Vice President, Exploration, Novo Oil & Gas LLC
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This session was recorded on January 27, 2021.
This operator is focused on maintaining its production levels with a slimmed-down capex budget and judicious mix of new wells and DUC well completions.
SPEAKER(S):
Daniel Rohling, Executive Vice President & Chief Operating Officer, Battalion Oil Corporation
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This session was recorded on January 27, 2021.
Texas Railroad Commissioner Christi Craddick provides an update on current RRC regulations and upcoming issues the RRC plans to address.
SPEAKER(S):
Christi Craddick, Chairman, Railroad Commission of Texas
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Former PESA President Leslie Beyer talks to Hart Energy about the combination of PESA and AESC to form The Energy Workforce & Technology Council.
Watch the video interview here:
https://bit.ly/3jood1l
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PATH FORWARD: Future of Oil and Gas Investments Under Biden’s Climate Policy
U.S. needs substantial investments in production to maintain current oil consumption, says Paul Goydan, Houston-based head of Boston Consulting Group’s North American energy practice.
Watch the video interview here:
https://www.hartenergy.com/exclusives/path-forward-future-oil-and-gas-investments-under-bidens-climate-policy-192158
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Angie Gildea, who was recently named the U.S. national sector lead for KPMG’s energy business, sat down with Hart Energy’s Jessica Morales to talk about key areas the oil and gas industry should focus on in the year ahead.
Click the link here to watch the full interview. PATH FORWARD: KPMG’s New US Head of Energy Angie Gildea on Navigating 2021
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From an improving gas market to international opportunities and a new energy workforce, a panel of veteran analysts in the oil and gas industry discuss what to expect from the sector in 2021.
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WPX Energy has added 1,500 gross drillable locations on 58,000 net acres of oily, overpressured Delaware Basin in one of the Permian's largest deals. Hear details of the combined WPX portfolio, DSU achievements and plans.
Moderator:
Richard Mason, Chief Technical Director, Hart Energy
Speaker:
Clay Gaspar, President & Chief Operating Officer, WPX Energy Inc.
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Curtailing some 225,000 bbl/d of production in the second quarter, 65% of it from the Lower 48, ConocoPhillips began returning some wells to sales in July. During the gap, its strong balance sheet still net shareholder value. Here’s a look into this leading operator’s plans for going forward.
Moderator:
Steve Toon, Editor-in-Chief, Oil and Gas Investor
Speaker:
Matt Fox, Executive Vice President & Chief Operating Officer, ConocoPhillips
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Having picked up both the Alta Mesa and Kingfisher portfolios, Mach Resources, in partnership with Bayou City Energy, has grown to 58,000 boe/d with interests in more than 5,700 wells and some 500,000 net Midcontinent acres. Here are the details.
MODERATOR:
Nissa Darbonne, Editor-at-Large, Oil and Gas Investor
SPEAKER:
Tom Ward, Founder & CEO, Mach Resources LLC
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Continental Resources Inc.’s founder is buying through the downturn, adding 4.7 million shares to his holding in the 1.7-million-net-acre U.S. unconventional-resource power player. He plans to add even more. Here’s his take on 2020 events and his outlook for American oil’s leading role at the global supply table.
MODERATOR:
Nissa Darbonne, Editor-at-Large, Oil and Gas Investor
SPEAKER:
Harold Hamm, Founder & Executive Chairman, Continental Resources Inc.
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Sandy Esslemont had the unenviable task of taking the reins of Parker Drilling just as the world was shutting down from the COVID-19 pandemic, which led to destruction in demand and a historic oil market crash.
Good thing he has 37 years of experience and an optimistic attitude to rely on.
“We have some pretty lofty goals at Parker over the next five years,” Esslemont told Hart Energy Editorial Director Len Vermillion. “They may be in a holding pattern in 2021 but I see the ability for us to reorganize into a much more nimble organization to take advantage of what we think is going to be an upturn in 2022 and thereafter.”
Esslemont was named as president and CEO of the international provider of drilling services and rental tools to the energy industry on March 23 after an extensive search for the replacement to the recently retired Gary Rich. He recently paid a visit to Hart Energy’s headquarters in Houston to discuss his new role plus the path forward for Parker Drilling and the oil and gas industry as whole.
Jump to a topic: * Reason behind joining Parker Drilling (0:35) * Strategy following COVID-19 (1:25) * Industry optimism (3:39) * Building Parker Drilling’s niche (4:30) * International markets (5:55) * Technology and innovation (6:38) * Data analytics (9:07) * Workforce solutions (9:37) * Outlook for OFS opportunities (10:14) * ESG and climate change (11:34) * Oil and gas in the future energy mix (13:04)
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Digital technologies are helping to transform the landscape for oil and gas operators as well as increase efficiency in a time when the industry is increasingly expected to “do more with less.”
Hege Skryseth, president of Kongsberg Digital AS—a company at the forefront of bringing digital twin technology, in particular, to the oil and gas industry—recently sat down with Hart Energy to discuss leveraging digital technologies, including the benefits and roadblocks.
“Technology is the fundamental building block to actually drive change,” said Skryseth, who also discussed Kongsberg Digital’s recent partnership with supermajor Royal Dutch Shell Plc that includes its new Kognitwin Energy dynamic digital twin service platform.
Jump to a topic: * Remote operations and automation (0:35) * Steps for successful digital adoption integration (1:50) * Roadblocks in the digital transformation process (2:49) * Kognitwin Energy digital twin software (3:46) * Advancing mature assets (6:08) * Future of AI, remote sensing & big data (7:19) * Industry’s path forward (8:57) * Kongsberg Digital promo (9:30)
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The Society of Exploration Geophysicists (SEG) is celebrating its 90th year with its first-ever all-virtual annual meeting and international exhibition from Oct. 11-16.
Bill Abriel, former president of SEG who will chair the Business of Applied (BAG) sessions at the event, joined Hart Energy’s Faiza Rizvi to discuss this year’s key topics including CO₂ storage and the business climate of the oil and gas service sector.
Particularly, Abriel, an industry veteran with over four decades of international experience with Chevron Corp., also spoke about the importance of geophysics on the business side of the industry.
“Geophysics is the eyes and ears of what you can’t see in the subsurface…we provide this direct measured information about what’s going on in the subsurface,” he said. “BAG sessions have more to do with the commercial forces at work…what are the business forces that make a difference. It isn’t taught in universities, you get this experience when you are in the industry. These are not tech sessions but they are interesting and important questions about what we’re trying to accomplish for the business and applied geophysics.”
As for how to navigate the current challenges of the industry, Abriel also explained how companies can undertake measures like cost-cutting, adopting new technologies and consolidation.
The BAG sessions begin at 8:30 a.m. Oct. 13 and run until Oct. 14. For more information visit SEG.org/AM/2020/event/detail/bag-sessions. The full conference agenda can be found at SEG.org/AM/2020/event/all.
Jump to: * SEG 2020 Annual Meeting (0:26) * BAG sessions (3:36) * Changing business climate (7:13) * New technologies in geophysics (10:09) * Future of exploration (13:47) * Path forward (16:12)
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Range Resources Corp. recently put itself on the forefront of the growing discussion around ESG after the Fort Worth, Texas-based independent E&P company became one of the first shale producers to set a net-zero emissions target.
A natural gas and NGL producer with operations focused in the Appalachian Basin, Range said it is already a leader in emissions reductions among its peers. However, in late August, the company announced plans to further those emissions reductions by targeting net-zero greenhouse gas emissions by 2025.
Following the announcement, K. Scott Roy, senior vice president of Range Resources, joined Hart Energy Editorial Director Len Vermillion to discuss the U.S. shale producer’s net-zero ambitions and why Range believes natural gas will be an important part of the mix in the energy transition.
“Rather than the theory that suggests that the only way to address the environmental issues of the day is to exclude fossil fuels as part of the mix,” Roy said, “we think that the facts bear out that increased use of responsibly produced natural gas has actually improved the environment while continuing to offer sustainable, low-cost energy option.”
Jump to a topic: * Why now set the net-zero target? (0:30) * Taking the lead among U.S. shale producers (3:05) * Range Resources’ plan (4:05) * Sustainability achievements so far (6:30) * Future technology investments (9:45) * ESG’s importance going forward (11:25)
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Jasper Ventures Inc. has seen its fair share of downturns, according to President Brent Japser.
The Texas-based midstream services provider and its affiliates’ history dates back to 1992 when Jon Jasper formed its predecessor company, Engineering, Procurement and Construction (EPC). The Jasper family of companies currently includes Veritas Gas Processing, Vulcan Field Construction, Vanguard Processing Solutions and Viking Dew Point Conditioning.
“We are 100% family-owned with no financial partners—that definitely helps our financial position,” Jasper told Hart Energy’s Jessica Morales in a recent interview. “Then we get to make all of the decisions that are important for company survival in times like this.”
As part of an effort to provide its customers in the midstream business more comprehensive services, EPC was restructured in 2016 into the current Jasper Ventures family of companies.
“Jasper Ventures has been involved primarily in installing gas processing facilities and we do that through two of our main operating companies,” Jasper said. “We also have plant operating services and then we have a fleet of MRUs (mechanical refrigeration units) that we lease.”
As for the dual shock in 2020 of COVID-19 and a price collapse, Jasper said the company has been able to maintain a strong balance sheet so far this year.
“From a cash flow standpoint, the first half of the year was not terrible,” he said. “We were completing a back-log of projects through the first and second quarters that we had built up in 2019.”
“The second half of the year is going to be much tougher for us than the first, as it is for a lot of companies,” he continued. “In early March, most of our prospects were indefinitely placed on hold and we had quite a few things on the horizon at the time. So, our business really literally changed overnight.”
Jump to a topic: * Jasper Ventures history (0:42) * Strong balance sheet (2:23) * 2020 downturn (3:26) * Traditional calling card (4:40) * Gas versus oil (6:52) * Industry’s path forward (8:35)
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Adapting quickly to the “new normal” from the coronavirus pandemic, Honeywell Process Solutions has rolled out several new technologies centered on remote operations for oil and gas companies.
Embracing new technologies is no longer an option for oil and gas operators, but rather a necessity, according to Jason Urso, CTO of Honeywell Process Solutions, who explained this has accelerated the digital transformation within corporations across the upstream industry.
“With the onset of the crisis, we found our customers asking some very fundamental questions: How can we operate safely with less proximity to one another? How can we continue moving capital projects without having people travel? How can we service existing equipment in operation while minimizing people coming on site? This triggered a new set of introductions for Honeywell, oriented around remote project execution, remote operations and remote services,” Urso told Hart Energy’s Jessica Morales and Faiza Rizvi.
Data analytics, in particular, plays a very fundamental part in the next inflection point of the industry, which he said oil and gas producers need to recognize.
“The power of data when interpreted, analyzed and then acted upon in different ways can allow us to genuinely see a new step-change improvement, both in terms of getting better process performance as well as significant improvement in reliability,” he said.
Jump to a topic: * Remote technologies during downturn (0:40) * Upstream adapting to the “new normal” (2:06) * Data analytics in a post-pandemic world (4:06) * Recent trends in technology (8:25) * Path forward (15:12)
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Leaders from the “Big Four” accounting firms—Deloitte, EY, KPMG and PwC—joined Hart Energy for a deep discussion on the ongoing energy transition and the different approaches to ESG within the oil and gas industry plus how COVID-19 is accelerating the digital transformation.
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Leaders from the “Big Four” accounting firms—Deloitte, EY, KPMG and PwC—joined Hart Energy for a deep dive on the oil and gas industry’s changing landscape following such an unprecedented first half of 2020.
Speakers in this wide-ranging discussion include:
- Katie Pavlovsky, Global Energy, Resources and Industrials Industry Leader, Deloitte;
- Deborah Byers, Partner and Americas Industry Leader, EY;
- Regina Mayor, Global and U.S. Head of Energy and Natural Resources, KPMG; and
- Niloufar Molavi, Global Energy Leader, Partner, PwC.
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A deep decarbonization of the world’s energy system is still 15 years away, DNV GL said in its recently released 2020 Energy Transition Outlook, with carbon emissions set to remain high until the mid-2030s.
Liv Hovem, CEO, DNV GL – Oil & Gas, discussed the conclusions of the 2020 Energy Transition Outlook with Hart Energy, explaining that energy transitions will occur at different rates in different parts of the world.
“The share of renewables will increase from 26% in 2018 to 63% in 2050, which is a big shift,” Hovem said. Most of that increase will come will solar and wind power as global demand for electricity doubles from current levels.
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The industry veteran says we shouldn’t forget the oil and gas sector’s contribution to striving toward net-zero emissions.
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Clay Gaspar, president and COO at WPX Energy, sat down with Hart Energy’s Jessica Morales for an in-depth look at the shale producer’s outlook for the Permian and Williston basins along with the importance of ESG.
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Advisers with Risked Revenue Energy Associates join Hart Energy’s Jessica Morales to break down their new book, “Risk is an Asset: Turning Commodity Price Risk into a Strategic Advantage.”
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After a rough second quarter that included a historic collapse in oil prices, Bryan Benoit, a principal at Grant Thornton Financial Advisors who also leads the firm’s energy advisory practice, says he’s starting to see green shoots ahead for the industry.
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If the industry wants continued capital investment, it will have to up its game. Our virtual panel discusses what you need to know to be ready for increased scrutiny and requirements of an ESG future.
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RelaDyne Reliability Services vice president Scott Hill sat down with Hart Energy’s Jessica Morales to discuss how this unprecedented time will change sectors within the oil and gas industry and how what that will look like is yet to come.
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“M&A has started to pick up. You saw a deal announced with Chevron buying Noble. We would expect to see more of those,” James West, senior managing director of Evercore ISI, says.
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Greg Leveille, CTO at ConocoPhillips, explains why now is the best time for oil and gas companies to ramp up new technology efforts.
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Alan Smith, president and CEO of Rockcliff Energy, explains the Haynesville Shale advantage and why that might be misunderstood by the investment community.
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Abhishek Kumar and Ryan Childs of Production Lending explain what lending to oil and gas operators in the ‘new normal’ looks like.
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Blackbuck Resources CEO Justin Love says a unique background and being debt-free has allowed opportunities for the Houston-based midstream company through this tumultuous time.
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In this exclusive video interview, Proserv Controls CEO Davis Larssen explains the driving factors behind a strategic subsea partnership with Houston-based Dril-Quip.
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There’s a new crude benchmark in town. Harold Hamm, founder and executive chairman of Continental Resources, joined Hart Energy to explain how American GulfCoast Select will help producers in the oil industry.
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As the oil and gas industry returns to the office and job sites, PwC discusses different solutions companies can take as they focus on protecting their employees and minimizing COVID-19 exposure.
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“We aren’t out of the woods yet, but things have moved in the right direction,” Helen Currie, chief economist at ConocoPhillips, says of the COVID-19 demand shock to the oil market.
ConocoPhillips Co. Chief Economist Helen Currie joined Hart Energy’s Jessica Morales for a look at global oil markets following the unprecedented COVID-19 shock and when she believes demand will most likely recover. To monitor demand recovery, Currie shared several key indicators she has been watching.
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“This was a massive shock to the system and to the country. I think this is one of the times where the oil industry may not have actually been hit worse,” Solaris Water Midstream CEO Bill Zartler told Hart Energy.
Solaris Water Midstream CEO Bill Zartler joined Hart Energy’s Jessica Morales for our Path Forward video series where we hear from leaders about the effect this historical downcycle has had on sectors of the energy industry.
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NexTier Oilfield Solutions CEO Robert Drummond joins Hart Energy editors for a conversation centered on his outlook for the oilfield services sector’s recovery on the other side of this downturn.
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Goodrich Petroleum President and COO Rob Turnham discusses the strategy behind the Houston-based company’s 100% natural gas-weighted position and how the Haynesville Shale’s location helps make that successful.
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Bill Marko, managing director at Jefferies, says he sees permanent changes to the U.S. shale business resulting from the destruction to oil demand over the past several months.
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Jacobi says tough times are ahead but the oil and gas industry could benefit from getting a little smaller. He also said the country obviously has “too much gas being produced at this time” but he’s still leery of projecting a great winter as it relates to natural gas demand later this year.
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CEO Jeff Miller says Halliburton’s strategy hasn’t changed as the company positions itself for the recovery. “I am an oil and gas bull. I believe in this business and I believe in this industry.” Jeff Miller, chairman, president and CEO of Halliburton Co., spoke with Hart Energy’s Jessica Morales about Halliburton’s near- and long-term plans plus an outlook for the oilfield services sector as a whole.
“The strategy is the same and I think what that should tell you is we have our eyes firmly fixed on the future,” Miller said while commenting on Halliburton’s recent decision to slash its quarterly dividend by 75%. “Those are near-term things that we do to manage liquidity, also pay down debt which we know we want to do, and continue to support the technology programs and things that are so important so that, when we do see the recovery, Halliburton will absolutely be in the best position to come roaring out of the downturn or into the recovery. But it takes solid liquidity to make all of that happen and those are the steps you are seeing us take.”
Additionally, Miller said Halliburton, one of the world's largest oilfield service companies, is implementing a North America strategy that lowers its cost. “We are adopting a lot of digital in our processes much faster than we have ever done before,” he said.
Jump to a topic: * OFS sector outlook (1:31) * Halliburton’s strategy for downturn (2:03) * Recent dividend cut/BOD retainer reduction (2:43) * International markets (3:30) * Top technology trends (5:38) * Digitalization’s role in current environment (6:33)
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David Baggett, founder and managing partner of Opportune, says oil and gas companies are focused on short-term survival and lowering costs, which can already be seen by massive capex cuts among producers and the historic plunge in rig counts.
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A shift toward nationalism will happen in a post-pandemic world, Harvard Kennedy School’s Meghan O’Sullivan says. Here’s how that might affect U.S. and international oil markets.
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Dr. Yousef Alshammari, CEO and head of Oil Research at CMarkits based in Saudi Arabia, joined Hart Energy’s Jessica Morales and Faiza Rizvi to explain the impact the oil industry’s downturn has had on crude-dependent economies of the Middle East.
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David Preng, founder, president and CEO of Houston-based Preng & Associates, says letting your network know immediately is key for those who have lost their job amid the oil market crash.
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Fresh off the end to proration discussions in Texas, CEO Matt Gallagher shares how Parsley Energy is responding to demand loss plus the Permian shale producer’s focus on technology and ESG.
Despite the decision by Texas energy regulators not to mandate oil production cuts, Parsley Energy CEO Matt Gallagher said he is still a believer in prorations and that quicker action might have helped to prevent the unprecedented collapse of WTI crude into negative territory last month.
Parsley along with fellow Permian Basin producer, Pioneer Natural Resources Co., led the proration efforts in Texas through a proposal made in late March to state regulators to mandate 20% curtailments, or 1 million barrels. However, on May 5, Texas regulators dismissed the motion to consider proration by a 2-1 vote.
“There is a cut and dry law in the books,” Gallagher said. “We wanted to bring awareness and we wanted visibility on if they were going to enact that law. We actually thought they should have, but, there were varying degrees of opinions going into that process.”
The proposal by Parsley and Pioneer faced opposition including from some of the largest oil companies in Texas such as Exxon Mobil Corp., Chevron Corp. and Occidental Petroleum Corp., which had already taken steps to cut production ahead of any state action.
“I think if it could have been done much quicker five weeks ago, you would have staved off negative oil pricing. But as the process took so long, it went into the sloppy conditions of each individual company making their own choices,” Gallagher said.
Parsley Energy joined fellow oil and gas producers with its own decision to temporarily suspend all new drilling and completion operations in April as a result of the drop in oil prices.
During this interview with Hart Energy’s Jessica Morales and Emily Patsy, Gallagher also shared his take on adopting new technologies and the importance of continuing ESG initiatives plus what price range would oil need to reach for Parsley to restart activity.
“We believe we can get active again in the $30 range and feel comfortable that there is a sufficient return trade-off where we can, over and above our cost of capital, generate healthy returns and generate growing free cash flow,” he said. “But that is at a static condition—we have to look at the macro conditions of what global storage levels are doing and what the shape of the curve is doing and what our production curtailments are doing. We want to get all wells back online, so, it will be a feathered process back in. Just on a spreadsheet, again, we could work in the $30 environment.”
For more check out Matt Gallagher's Q&A with Oil and Gas Investor Editor-in-Chief Steve Toon.
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KPMG’s Regina Mayor gives a look at how U.S. shale producers will respond to demand loss and who is getting hit the hardest in the energy industry amid the current pandemic.
While no one is denying that the U.S. shale industry is taking a hit right now, Regina Mayor, KPMG’s global and U.S. energy sector leader, said it’s not dead.
“People keep saying, ‘is shale dead?’ Shale might go into hibernation,” she said. “It might be recessionary for a short time, but the rocks don’t go bankrupt. The geology is what it is and there are still some really good assets to be had.”
However, Mayor did note some shale assets will be under distress, which she said could attract some interest internationally.
“National oil companies that have good relationships with the [U.S] administration and feel like they could be bold—that may be where some of the money comes in,” she said of the possibility of international investments in the U.S.
During this interview with Hart Energy’s Jessica Morales and Editorial Director Len Vermillion, Mayor also discussed who is getting hit the hardest in the energy industry amid the current pandemic, her outlook for crude demand and natural gas prices plus who has access to capital right now.
“I don't think the banks like holding these assets so I don't think they are going to double down,” she said. “So, access to capital and access to liquidity is scarce, which is why we are going to see potentially some more restructuring, some additional bankruptcies. Which is sad and heartbreaking from an industry perspective, but the industry is so inefficient and fragmented that it really does need to bulk up and consolidate and drive scale.”
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As oilfield service companies adjust operations in response to the COVID-19 pandemic, many are planning to invest internationally rather than U.S. onshore, says energy investment banker Jim Wicklund.
As the energy industry finds itself in survival mode, Jim Wicklund, managing director of energy investment banking at Stephens Inc., spoke with Hart Energy’s Jessica Morales to discuss what he is seeing oil and gas companies turn their interests to plus a motivating message for the industry.
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Jim Krane of Rice University’s Baker Institute shared his take on the relationship between the U.S., Saudi Arabia and Russia going forward plus how paralyzing the oil storage and demand situations will be for the industry in the short-term.
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Guy Caruso, former EIA administrator joined Hart Energy’s Jessica Morales to discuss his views on oil prorations and the best path forward for the industry as states begin to lessen COVID-19 restrictions.
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Leslie Beyer, president of Petroleum Equipment & Services Association (PESA), joined Hart Energy’s Jessica Morales and E&P Executive Editor Jennifer Presley to discuss the state of the oilfield services (OFS) sector and how its members are managing operations during the COVID-19 pandemic.
As PESA and its members have transitioned to remote collaboration, Beyer said she has seen oilfield service companies make cuts and, at times, even look to competitors for ideas on how to successfully navigate this period of uncertainty.
“Oilfield services is so competitive but everyone is coming together ... because, again, we are all in this together,” she said. “At the end of the day, getting our people back to work and getting the economy going again is what’s going to be the answer to this.”
Beyer also spoke about how PESA is advocating for the OFS sector in Washington, D.C., to ensure that oilfield service companies are represented in any upcoming stimulus package.
“The demand destruction is ultimately done by the federal government,” she said. “The federal government has made these restrictions that are resulting in the demand destruction. So, the federal government has to be part of the solution.”
For information on PESA resources visit PESA.org.
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“First of all, I would say it’s heavy. We are really looking to try and rationalize the company and push expenses down where possible,” Canary CEO Dan Eberhart said of his company’s strategy of managing the deep dive in demand.
Dan Eberhart, CEO of Denver-based service company Canary LLC, spoke candidly with Hart Energy’s Jessica Morales about the role oilfield service providers can play as oil and gas producers work to manage the new price environment.
“To the extent [service providers] can get skinnier with our pricing, I think that helps [operators] keep drilling,” he said. “Also, I think us [service companies] just being around on the other side of this is going to be helpful.”
Overall, Eberhart said the industry will get through this, adding: “There will be an oil boom at some point. ... That’s the history of this industry. Service companies being around are what will make that possible for the oil companies on the other side.”
Additionally, Eberhart spoke on his decision to testify against prorations during a Texas Railroad Commission public hearing on April 14. “I think it's a bad idea,” he explained. “I understand where Commissioner Sitton was coming from but I am a big believer the free market will solve and the free market will frankly get there quicker.”
Texas Railroad Commissioners erred on the side of caution April 21, opting at the moment not to force oil companies to collectively cut 20% of their production. Instead, regulators said they will take time to consult legal counsel, get unanswered questions answered and meet with other oil-producing states and countries battling today’s oil market crisis.
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“I truly believe in what we do and automation in general. We are all going to be working with less. We are going to be looking for ways to streamline and add efficiency,” Bobby Mason, president and CEO of SPOC Automation, says.
SPOC Automation Inc., a tech company serving both the upstream and midstream segments of the oil and gas industry, is sharing its knowledge of the automation technology sector through a series of complementary training videos called “Two-minute Drives.”
In this interview, SPOC Automation CEO and President Bobby Mason and Vice President Ted Wilke discuss the evolution behind the video series and the importance of automation in the industry at this time, in particular.
“Fundamentally, it is the way the industry has got to go. If it doesn’t move toward more automation, they are going to cease to exist,” Mason said.
Joining Mason and Wilke for the discussion is Hart Energy’s Jessica Morales and E&P Executive Editor Jennifer Presley.
For information on the SPOC Automation video series visit SPOCAutomation.com.
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“The people who are going to save this industry are not going to be OPEC or Trump. It’s going to be the industry itself,” Dan Pickering, founder and chief investment officer of Pickering Energy Partners, says. Pickering joined Hart Energy’s Jessica Morales to discuss the fallout from the devastating plunge in oil prices this week and where that leaves M&A.
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The discussion with Tom Petrie, chairman of Petrie Partners, continues as he looks at U.S. shale going forward and the future of OPEC in a new price environment.
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“I do think we are going to be able to acquire assets and we are going to be able to come out of this a lot stronger,” Northern Oil and Gas CEO Nick O’Grady says.
Nick O’Grady, CEO of Northern Oil and Gas Inc., joined Hart Energy’s Jessica Morales by Zoom to discuss the company’s nonoperated position in the Bakken and surviving the current unprecedented oil market collapse. [Editor's note: This interview was recorded on April 3.]
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Jamie McCoy, vice president and CFO of Canyon Creek Energy, is proud of how much his company has grown in a short span of time. “We started Canyon Creek in 2015 with a small acreage position and a singular funding source. Since then, we have grown substantially and significantly broadened our investor base in both size and nature of capital,” he says.
McCoy’s team partnered with Vortus Investments in 2017 to expand the scope and pace of the company’s development. He was directly involved in raising a DrillCo commitment and two senior debt facilities of increasing size. “The E&P business is capital intensive and requires strategic capital sourcing based on the nature of the project. As entrepreneurs in the business, we are focused on the continued growth of our company in ways that maximize shareholder value and substantiate our balance sheet,” he says.
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At the age of 26, McClure completed his Ph.D. and was hired to be on the faculty in the Department of Petroleum and Geosystems Engineering at the University of Texas at Austin.
McClure and his colleagues performed a research project on the interpretation of diagnostic fracture injection tests. “I think this work was one of the most important that I’ve done in my career. But after we published a paper about it, I realized that most people in the industry did not understand or notice it. I decided to go to the private sector so that I could work directly with the industry and make things happen,” he says.
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Water management solutions have gained momentum since the shale boom. In response, Justin Love, CEO, founded Blackbuck Resources, a midstream water solutions firm that designs, builds and operates water infrastructure in Texas and New Mexico, in 2018.
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Bitten by the entrepreneurial bug, Matt Loreman had always been interested in building a business.
In 2017, he co-founded Development Capital Resources LLC (DCR), an oil and gas platform partnerered with funds managed by Ares Management Corp.
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Founded in 2015, London built the company from three employees to more than 40 and has established a two-rig drilling program in the Delaware Basin. Under his leadership, Tap Rock has deployed more than $250 million in gross development capital
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Blake London has been holding it down at Credit Suisse for the past 14 years and has risen in the ranks since starting at the investment banking firm as a summer associate in 2004. London reached a pivotal point in his career when he was named managing director by the age of 35, a position he earned by “hard work and approaching every task with a good attitude,” he says.
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Alexandria Lay has been immersed in the energy industry since childhood. She recalls accompanying her father to well sites as a little girl and occasionally joining him in his office during the weekend. As she grew older, Lay gained a greater perspective on the role that oil and gas plays in West Virginia and yearned to participate in it.
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On this August day, Muhammad Laghari and his Citi colleagues are celebrating the $55 billion acquisition of Anadarko Petroleum Corp. by Occidental Petroleum Corp.—the culmination of two years of hard work and perseverance. It was the largest North American acquisition the energy world has witnessed in the past 20 years, and one in which Citi played an instrumental role.
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It took some time for Brent Kelsall to find his way to the energy sector, but once he did, he made a fast and meaningful impression.
As one of the initial employees at FourPoint Energy LLC, Kelsall helped set the company’s financial course. He’s part of a team that capitalized FourPoint and LongPoint Minerals over the past five years, despite industry challenges.
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In a unique industry dialogue hosted by Hart Energy, Tom Petrie, chairman of Petrie Partners, weighs in on the current state of the oil market following record global oil output cuts agreed to by OPEC, Russia and other oil producers.
Petrie says the industry has seen the fastest lay down of rigs in American history. “We are seeing drops in demand partly because of extreme measures meant to slow the spread of the coronavirus.”
During part one of the discussion hosted by Hart Energy’s Jessica Morales, Petrie joins Steve Toon, editor-in-chief of Oil and Gas Investor, and Jennifer Presley, executive editor of E&P, to talk about oil prices, production and possibilities to come.
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Whether she’s landing a fluke shot on a Topgolf course or helping launch a company, Bernadette Johnson has sometimes been aided by a little luck in her successes. But for her, more powerful forces are also at work: determination, outspokenness, a razor-sharp analytical mind—and courage. “Being courageous is important so you can actually accept an opportunity or challenge when it comes up,” she says. “My biggest career moves required a certain leap of faith, and it has worked out amazingly well.”
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Since joining Equinor ASA seven years ago, Abhijeet Inamdar has proven to be a valuable member of the company. He led efforts to optimize field development techniques for unconventional plays and held a key role in evaluating acquisition and divestment strategies for the company. He has also developed a reputation for his knowledge of various complex reservoir engineering techniques.
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Plenty of things set Kirk Goehring apart from the typical industry executive. He grew up near Washington, D.C., lacks a technical background and spent the early part of his career outside of the energy sector. Despite these differences, he’s had great success at Jones Energy II Inc.
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Mickey Friedrich approaches each day with three goals: to work hard, take advantage of opportunities and trust that the end results will take care of themselves.
“We can sometimes fool ourselves by thinking we have more control over outcomes than we really do,” he says. “But what we do know is that it is those who are working the hardest who seem to get the luckiest.”
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Amy Chen Davis has combined her passion for deal making, relationship building and world traveling into a career in liquefied natural gas (LNG) marketing. Her most notable accomplishment has been her involvement in Anadarko Petroleum Corp.’s historic $20 billion LNG export terminal in Mozambique, which reached a final investment decision earlier this year.
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De Nora Neptune recycles produced water and disinfects frac water by manufacturing bleach onsite. Now, they are using that same method to fill the shortage of disinfectants for the general public. As the world grapples with COVID-19, a group of service providers teamed up to use oilpatch technology to help their local communities.
Texas-based water service company De Nora Neptune LLC specializes in “on-the-fly” frac water treatment and cost-effective produced water recycling in the unconventional oil and gas industry. The company’s mobile treatment units are designed to recycle produced water and disinfect frac water by manufacturing bleach onsite.
Currently, these units, each capable of producing over 100,000 gallons of disinfectant per day, are being used to fill the shortage of disinfectants for the general public during the coronavirus pandemic thanks to a partnership with PetraTech Consultants LLC.
Alex Gonzalez, president, and Lambert Gonzalez, director of operations, for De Nora Neptune along with Robert Berry, president of PetraTech Consultants, joined Hart Energy’s Jessica Morales via Zoom to discuss how the group has worked with counties across Texas to distribute the disinfectant to residents through local Sheriff’s offices.
The group says it is able to lend help outside of Texas and is just waiting on the call. Contact Gonzalez at 432-360-9020 or Berry at 713-253-9583. Additional information can be found at DeNora.com or NeptuneSC.com.
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Within a year of opening, Kirkland & Ellis LLP’s Dallas office established a reputation as one of the region’s leading full-service law firms with a strong focus on the oil and gas industry. Its position of prestige took masterful planning, smart recruiting strategies and some behind-the-scenes magic from founding partners such as Kevin Crews.
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When Sidley Austin LLP opened its Houston office in 2012, Tim Chandler was among the first associates to walk through the doors. He was brimming with hope about the firm’s future and determined to make it a great place to work while delivering top-notch service to some of the oil and gas industry’s biggest players.
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Stephen Callender describes himself as a risk taker, but he got more adventure than he bargained for when he joined the energy industry. He transitioned to oil and gas investment banking in October 2014, when crude was priced about $90 per barrel. Just four months later, its value plunged to $50.
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Don’t let his age fool you—Dustin Cabrera has accumulated a career’s worth of accomplishments in less than a decade and shows no signs of slowing. The ambitious energy banker became one of the youngest vice presidents at Roth Capital Partners when he was 26, and today he helps lead its energy investment banking department.
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When it comes to conquering challenges, industry executive Aaron Blomquist is not afraid to make missteps. In fact, it is just the opposite—Blomquist feels that defeats help make him a better person. “I have failed a ton,” he says. “I feel like I improve more when I acknowledge failure and learn from it. I think it is all about failing and coming back from failing.”
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When Anthony Bilotto joined Covenant Testing Technologies LLC, he didn’t know the first thing about the oil and gas industry. He was transitioning into the corporate world from the military, where he spent 12 years flying various aircraft for the U.S. Air Force and Texas Air National Guard.
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Whether he’s conquering a triathlon or helping build a merchant bank, Nicholas Bilodeau can be counted on for his tenacity and perseverance. He joined Intrepid Partners LLC—the advisory arm of energy-focused merchant bank Intrepid Financial Partners LLC—during its formative years, and he helped facilitate its growth into one of the industry’s leading advisors.
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Chris Bentley is a former military man who turned a $10,000 personal investment into a multi-million-dollar mineral rights firm. Less than three years after launching Bellatorum Resources, Bentley now oversees nearly $30 million in assets and leads a team of 16 employees. And by the way, he accomplished it all while working toward an MBA at Rice University, launching a charity that benefits veterans and co-founding a nonprofit athletics school for children.
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When David Bateman was a student at Texas Tech University, he and a classmate would often fantasize about how they might someday change the world. Their conversations weren’t just pipe dreams. Bateman and that friend, Aaron Phillips, formed one of the fastest-growing technology companies in the energy space.
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John Argo, Vice President of Business Development, Continental Resources Inc., Oklahoma City. Mediocrity isn’t an option for John Argo, an innovative and ambitious executive who helped Continental Resources Inc. reduce its debt by more than $1 billion and form an unprecedented strategic minerals relationship with leading Canadian royalty corporation Franco-Nevada Corp.
He attributes such lofty accomplishments to determination, drive and the power of teamwork.
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Today’s featured 25 Influential Women in Energy honoree is Brenda Schroer, senior vice president, CFO and treasurer, Concho Resources Inc.: At the helm of Concho’s accounting, finance, investor relations and IT organizations, Schroer said her goals include spearheading its digital transformation efforts as well as enhancing the company’s diversity initiatives.
For more in-depth interviews like this please visit: HartEnergy.com
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Today’s featured 25 Influential Women in Energy honoree is Kristen Ray, vice president of technology of petroleum and legacy U.S. Assets, BHP: Ray says that, throughout her career, she’s had personal experiences of being selected and not being selected for roles due to gender. “These experiences have made me critically focus on the hiring process to ensure objective measures are put in place prior to interviews and as part of the selection criteria.”
For more in-depth interviews like this please visit: HartEnergy.com
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Today’s featured 25 Influential Women in Energy honoree is Heather Powell, president and CEO, Ventana E&P LLC: Powell believes one of her greatest career milestones is building Ventana E&P LLC from scratch. “Having a group of investors and board members that believe in me and our team enough to back us not once but twice is extremely humbling.”
For more in-depth interviews like this please visit: HartEnergy.com
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Tiffany Polak, development director, Marathon Oil Corp.: While delivering “optimum, capital efficient production” is Polak’s intent, she feels that teambuilding is a crucial piece of the puzzle. It doesn’t have to be expensive or elaborate, she explains. Knowing employees’ strengths and how to leverage individual talents makes a difference.
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Eileen Perillo, vice president finance, unconventionals, Shell USA Co.: Perillo’s advice to others, “I’ve told college students and young professionals that they have to find ways to work collaboratively in teams, because it’s challenging to do things by themselves,” she says. “But, equally, you need to figure out how to stand out as an individual.”
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Today’s featured 25 Influential Women in Energy honoree is Dr. Sharon L. Wood.
This year’s Pinnacle Award recipient Dr. Sharon L. Wood, dean of the Cockrell School of Engineering at The University of Texas at Austin (UT-Austin). The award, sponsored by Schlumberger, recognizes her dedication to the advancement of architectural and environmental engineering.
As dean of one of the largest engineering schools in the U.S., with more than 8,000 students, Woods—a civil engineer—is the first woman to hold the title at UT-Austin. It is a position she’s held since 2013.
For more in-depth interviews like this please visit: HartEnergy.com
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Today’s featured 25 Influential Women in Energy honoree is Shauna Noonan, SPE president, director of artificial lift, Occidental.
Noonan says she has no problem staying motivated in her career, even after reaching such heights. “There are [approximately] 840 million people on this planet that still do not have access to electricity,” she says. “Knowing that I work in an industry that contributes to reducing energy poverty and improving the standard of living for individuals in this world is such a motivation.”
For more in-depth interviews like this please visit: HartEnergy.com
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Today's featured 25 influential Women in Energy honoree is Cathy Lebsack, vice president, land and exploration, new ventures, Devon Energy Corp.
Lebsack is a woman of faith and, while she describes herself as “incredibly competitive,” she wants her staff to feel her kindness and love and to succeed as a team. Young professionals, she advises, should be proactive.
For more in-depth interviews like this please visit: HartEnergy.com
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Today's featured 25 influential Women in Energy honoree is Wendy King, vice president, Great Plains Business Unit, Lower 48, ConocoPhillips.
Years learning the business, and her keen curiosity to understand geology, led to perhaps the pinnacle of her career so far. Last year, she was offered to lead the Great Plains unit, though her husband and son would have to remain in Australia.
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Today's featured 25 influential Women in Energy honoree is Sam Holroyd, principal, Golden Advisory Services.
One factor helping drive Sam’s career is a “passion” she has to be a communications catalyst. This has enabled her to bridge the gap that often exists between those assessing geotechnical and operational issues and those evaluating commercial factors and, in turn, developing an aligned valuation proposition for a specific asset.
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Today's featured 25 influential Women in Energy honoree is Johanna Haggstrom, director of technology, Halliburton Co.
One of Haggstrom’s key priorities is being an advocate for diversity. “The future of this industry is still to be shaped,” she says. “Companies know they must focus on diversity and inclusion in order to move the industry into the future.”
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Today’s featured 25 Influential Women in Energy honoree is Andrée Griffin, unconventional development manager for XTO Energy Inc., an affiliate of Exxon Mobil Corp.
While receiving her master’s degree in geology from Texas Christian University, Andrée Griffin came across her most valuable find. In 1987, the Fort Worth native was offered an internship with Sun Exploration and Production Co. in Abilene, Texas. Recently married and hesitant to move across the state, Griffin scouted advice on her dilemma.
“Getting input from people whom I admire, because of how they work, learning from their experiences, or what they have accomplished, has caused me to make career decisions with more conviction than I might have on my own,” she says.
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Our next featured 25 Influential Women in Energy honoree is Hinda Gharbi, executive vice president of reservoir and infrastructure for Schlumberger Ltd. Eight years after joining Schlumberger, the company gave her leadership of the new technology portfolio of its wireline product line. “Trusting me with managing such an important portfolio was both an honor and a responsibility. I think this is where having people—especially respected leaders in the organization—believe in me was such a boost,” Gharbi says.
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Edition for March 18, 2020: Today’s featured 25 Influential Women in Energy honoree is Kate Day, partner at Bracewell LLP - Day’s advice to other women getting into law firms is to “Show up, ask questions and work on every deal you can get your hands on, even ones where you don’t yet have the relevant expertise. There’s no way to become an expert without getting your hands dirty.”
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Edition for March 18, 2020: Today's featured 25 Influential Women in Energy honoree is Stephanie Cox, CEO of Wood - Cox counts among her career milestones her first role managing manufacturing at Schlumberger. “My whole team probably had 15-plus more years’ seniority than I did,” she says. “They had never worked for a female before, and I had a lot of really significant responsibilities with that job.”
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Edition for March 18, 2020: Today’s featured 25 Influential Women in Energy honoree is Jamie Butler, Vice President, Permian, Baker Hughes Co. - The energy transition underway and its future keeps Butler motivated about the oil and gas industry today. Meeting Baker Hughes’ goal to achieve net-zero CO2 equivalent emissions by 2050 “while also changing the mindset about our industry and reducing our carbon footprint is what motivates me.”
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Today’s featured 25 Influential Women in Energy honoree is Amanda Brock, COO and chief commercial officer of Houston-based Solaris Water Midstream.
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Our next featured 25 Influential Women in Energy honoree is Bonnie Black, vice president of drilling for Permian operator Pioneer Natural Resources Co.
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Edition for March 11, 2020: Today’s featured 25 Influential Women in Energy honoree is Andrejka Bernatova, Goodnight Midstream’s former CFO who is currently advising and investing in the energy technology and infrastructure space. Shortly after Andrejka Bernatova joined her first portfolio company, the CEO asked her what she wanted to be in life. She responded, “I want to be where you are.” To seek a lesser role would be uninspiring. “Who wants to be No. 2? I want to drive the bus one day.”
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Edition for March 11, 2020: Today’s featured 25 Influential Women in Energy honoree is Ami Arief, senior vice president of Tellurian Production LLC based in Houston. Tellurian’s global scope is important to Arief because oil and gas’ capacity to transform “not just production or prices or access to energy, but the geopolitics of the world” motivates her.
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Edition for March 11, 2020: Today’s featured 25 Influential Women in Energy honoree is Tanya Andrien, COO of Enverus—one of the top data and software analytics firms in the industry. Tanya Andrien’s first foray into energy research on gas station concentrations and gasoline prices ended up helping to close a loophole in the U.S. government’s post-merger analysis and plans. It was her undergraduate thesis during her senior year at Princeton University. And, she did it while playing shortstop for the Tigers’ softball team.
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Dougie McMichael, director of Bakken well factory planning and execution at Hess, expands on the company’s productivity and the technology drivers in the play in this one-on-one interview with Jessica Morales at the recent DUG Bakken & Rockies Conference & Exhibition in Denver.
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Edition for February 25, 2020: Combined, these operators have a perspective from throughout the Permian. Here, they share their results and plans for their stacked pay in their corners of the world’s richest acres.
SPEAKER(S):
- Rob MacAskie, CFO & Vice President-Acquisitions, Zarvona Energy LLC
- Justin Porter, Manager, Land, Devon Energy Corp.
- Parker Reese, CEO, Ameredev II LLC
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Edition for February 25, 2020: Privately-held producers—some of them on their 4th Permian portfolio—continue to extend the outermost boundaries of the horizontal Midland and Delaware basins, making what was fringe quickly into what is now deemed core property. Here are some of these portfolios.
SPEAKERS:
- Allen May, Executive Vice President, Business Development & Exploration, Scala Energy LLC
- Randy Nickerson, Chief Operating Officer, Caza Petroleum Inc.
- David Bledsoe, President, Henry Resources
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Edition for February 25, 2020: These producers have proven their pay-rich Permian Basin leasehold and with profile results. Here's how.
SPEAKER(S):
- Daniel Rohling, Chief Operating Officer, Ajax Resources LLC
- Jill Thompson, Senior Staff Geologist, QEP Resources Inc.
- Will Hickey, Co-CEO, Colgate Energy LLC
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Edition for February 25, 2020: The Permian Basin’s original oil in place is world-class. These operators, Admiral Permian Resources, Triple Crown Resources and Discovery Natural Resources, describe the vast resource still remaining in their leasehold and how they’re capturing more and more of it.
SPEAKERS:
- Denzil West, CEO of Admiral Permian Resources LLC (1-minute mark)
- Ryan Keys, co-founder of Triple Crown Resources LLC (18-minute mark)
- Steve Turk, CEO of Discovery Natural Resources (36-minute mark)
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Emily Rodgers, manager of environment and sustainability for Apache Corp., sat down with Jessica Morales to discuss the company’s involvement in ONE Future plus what it aims to achieve by 2025. Jessica Morales hosts.
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Edition for February 11, 2020: Infrastructure Networks CEO Mark Slaughter says the company’s technology at the wellpad will help cut costs and reduce breakevens for U.S. shale producers. Jessica Morales hosts.
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