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Chairman's Corner January 2008

Calling All Scouts "Happy New Year!" to everyone—I hope that each of you was able to take extended time off to be with family and friends and recharge for 2008. Last year was certainly an interesting time for our profession, with oil prices approaching $100 per barrel. Opinions on where prices will go are numerous; most people tend to agree we have entered a new regime in which the lowest forecasts are higher than any of us would have guessed 10 years ago. I am proud to be part of a profession and industry that, despite the historic commodity prices, continues to take a cautious, technically-based, and generally conservative approach to investment and personnel decisions. Your membership and active participation in SPE is testimony to your commitment to helping our industry maintain the highest standards of technical expertise and professionalism. …


Then and Now - January 2008

January 1958 Midcontinent refiners register concern over reports that foreign oil is being moved up the Mississippi River by barge to be refined in Memphis. Superior Oil Co. management reports receiving a contract to sell 10,000 bbl/day of its Lake Maracaibo crude to customers in the United States. Richfield develops a punch card database for all of its California wells, thus moving to the next level in data retrieval. (OK. How many of you can remember doing your programming with punch cards? Remember, it was back during the "fountain pen" era.) Who will be the oil legislation "movers and shakers" in the 1958 Congress? Would you believe Senator J.W. Fulbright, author of the gas bill and chairman of the senate banking committee, and Representative Wilbur Mills, chairman of the House Ways and Means Committee. Both come from the state of …


A fun event to remember – the 24th Annual SPE-GCS Tennis Tournament

The 24th Annual SPE Tennis Tournament took place on the 19th and 20th of October. This year the tournament was held at Houston Racquet Club (HRC), a change of venue from West Side Tennis Club for the past few years. The weather couldn’t be any nicer as the players enjoyed a day and a half of fellowship, networking and plenty of tennis. The food and beverages provided by the Club were excellent.  In addition, there were plenty of snacks (popcorn, apple slices, crackers, etc.) throughout the day. This year there was a real-time video display of court activities in front the club house, which was pretty cool and drew quite a lot of attention. For those who did not make it to the playoff, additional games (hit and grab, scramble fun matches) were held to offer a second chance of self redemption. The Saturday evening …


Then and Now - December 2007

December 1957 If you are inquisitive, sleuthful, determined, sneaky, can keep a secret, have the gift of gab, and coincidentally expensive tastes, what might your career path be in today’s E&P organization? That’s right…a landman. Things were not always quite so lucrative for their predecessor…the lease broker. Witness the following testimonial from a South Texas lease broker circa 1957. “Starting out with $1,000, which I saved from my former work during the First World War, I built it up after 38 years to about $1,000. A farm bought primarily for the mineral gamble and a few mineral or royalty interests that pay anywhere from 1 cent to as much as $20 per month, cost me $1,000 total. So there you have my balance sheet after 38 years as a lease broker. Maybe some day I will get my money back.” …


Ronald Harrell - Distinguished Lecturer Series - Podcast

PETROLEUM RESERVES ESTIMATES - WHERE WE HAVE BEEN, WHERE WE ARE, AND WHERE WE APPEAR TO BE HEADED. Global events from Baghdad to Beijing and from The Hague to Houston over the recent past have ignited worldwide interest on oil and gas reserves. This renewed, expanded attention has clearly illustrated that the term “reserves” is widely misunderstood and abused – sometimes by individuals and/or organizations that should know better. This presentation clarifies what the term “oil and gas reserves”


SPE-GCS e-Newsletter November 2007

Crowley Maritime Corporation Providing solutions to energy exploration and production challenges with ocean towing and transportation, upstream logistics, shorebase services, marine engineering, offshore construction support, ESQA and more. Visit www.crowley.com Calendar Events for November 2007 Texas Tech University Petroleum Engineering Reception Sponsor: Texas Tech University College of Engineering Speaker's Names: Michael Williams Chairman TX Railroad Commission Days: Th 1-Nov-07 6:00 PM - 7:00 PM CST Location: Petroleum Club, 800 Bell St, #4300 Houston TX 77002 USA Summary: As one of the largest petroleum engineering programs in the nation, Texas Tech University College of Engineering will share its vision to address the oil and gas industry’s manpower and workforce demands. While this is not a fundraising event, the need for private support will be addressed... Google Maps | Add to Calendar 2007 High School Recruiting: Opportunities For The Future Sponsor: SPE-GCS …


Chairman's Corner November 2007

I want your story. Read on and I will tell you why. Many of you may have recently watched all or partof Ken Burns’ new 15-hour documentary on PBS about World War II (The War). The format of this excellent program was similar to his previous projects including The Civil War, Baseball, and Lewis & Clark. What make these programs so compelling are the personal stories and first-person accounts of both the famous and the front-line individuals who played large or small parts in the subject covered. It is the stories of the ordinary men and women that have the most effect in making the events real to the viewer. In my day job, I am fortunate to meet many small E&P company owners and engineers as we review projects. Most of these folks have been in our business for …


Then and Now - November 2007

November 1957 After an average 5.9% raise, annual salaries for all U.S. engineering disciplines now range between $5,400 and $13,100. (Annual salaries have increased 10-20 fold, but the annual raises have remained about the same.) Keeping with statistics, the average service station (Remember them?) in 1956-57 generated $89,265 in revenue, and the average service station operator earned $6,606 per annum. Not content to have their Sputnik satellite sailing over our heads, the Russians now claim to have developed a superfuel not based on oil. (I’m guessing it's vodka related.) Navy threatens to sue the state of California, city of Long Beach, and private oil men over the subsidence damages to the Long Beach naval base resulting from oil withdrawals. They cite as a precedent the successful Goose Creek (near Galveston) subsidence law suit. East Texas crude oil - $3.25/bbl; U.S. …


Innovation in the Oil Field -- YOU can do it! - Podcast Video

Innovation in the Oil Field -- YOU can do it! - Podcast


The Quest for Future Engineers: November High School Recruiting Fairs

In search for the next generation of petroleum engineers, our SPE Gulf Coast Section holds annual high school recruiting fairs in Houston and throughout the Gulf Coast Section area. Each recruiting fair is two hours long and held at different high schools. This year the recruiting fairs have been scheduled for the week of November 5–9 at the following high schools: Oak Ridge, Fort Bend Baptist Academy, Cinco Ranch, Carver, and Washington. At these fairs, we provide information to high school students about petroleum engineering, colleges, and SPE scholarships and internships. We are seeking volunteers to give ten-minute talks about recent graduate perspectives (five years or less of industry experience), industry leader perspectives, the SPE Scholarship Program, and internship availabilities. Your commitment is only for one recruiting fair at your most convenient location. We also need sponsors to provide give-aways …