Chair's Corner - November 2021

Chair's Corner - November 2021

We have one more month until the end of the year, and it’s been an interesting one. We began with a great deal of uncertainty about the pandemic and how it will change the norm. We’ve seen more than half of the workforce return to the office; the surge of the delta variant; and many of our colleagues, friends and family return back to work and school. We’ve also seen oil getting back to encouraging prices and rig counts returning to normal levels. I’m glad things are turning around and I’m looking forward to the New Year. With regard to SPE-GCS, it’s a healthy section, as we are hosting events and sessions to engage our members. In this month's “Chair's Corner,” I’ll review the benefits of SPE membership.

I encourage all SPE members to renew their membership. If you are a current member, you should have received your share of SPE membership renewal reminders for 2021. If you do not belong to SPE, I encourage you to join.

I’ve been with this excellent organization for almost a decade. It’s been a blessing for learning, connecting and giving back. For me, SPE-GCS is family, and I encourage everyone to re-engage and take advantage of this great organization. If you’re an employee, check to see if your employer offers membership reimbursement. I’m aware that industry downturns or other personal circumstances have seriously affected the ability of certain members to renew or join SPE. As such, discounts are offered for new and expired memberships, while other alternatives and accommodations are being considered to help those in need.

There are many benefits to SPE membership. They include professional development, OnePetro, PetroWiki and networking. We offer discounted event registration fees and access to resources like JPT and SPE Bookstore discounts. Membership provides volunteer opportunities, leadership opportunities on technical committees and boards, and connection with employers through events like the Members in Transition (MiT) Hiring Event.

Locally and internationally, MiT committees have been created to support members through their transition to new opportunities. In addition to expanded access to virtual events and trainings, I’m excited to highlight the enhanced On-Demand Content Library, where you can find recorded webinars, professional trainings and industry interviews, all of which are available to watch on your own time.

One thing I would like to bring to light is the Scholarship Endowment Fund (SEF). At the start of 2016, the SPE- GCS board of directors launched a fundraiser for SEF.

The objective was to provide long-term protection for scholarships, because like all industries, we have cycles. In the event of a downturn, the fulfillment of our current and future scholarship commitments would be threatened, as scholarships are financed by the annual income and savings of the section. I would kindly encourage all members to support the fund by educating their colleagues and businesses about its importance. This will make a significant contribution to the survival and growth of our fellowship program, and our commitment to those who benefit from our scholarships. This initiative is being spearheaded by Dick Murphy and Ivor Ellul. If you would like to know more about the SEF, reach out to me directly with any questions or concerns.

The oil market is promising, and there's both stress and opportunity in the industry. The extended climb in oil prices is encouraging – a divergence that reflects bets that will offset any slowdown in the global economy. US crude rose 1.5% to $80.52 this year, closing above $80 for the first time since late 2014 and bringing its climb since the end of last October to 125%. The sequence of events over this period and the months ahead will determine if this trend continues or is reversed.

We will do everything we can to meet the world's energy needs and demands.

- Nii Ahele Nunoo