Hart, Philip - Acquisition, Divestiture, Operational, and Management Specialist with 40+ years of experience
To help your company grow through expertise in acquisition/divestiture analysis, operational optimization, reservoir management and personnel motivation.
40+ years managing and optimizing oil and gas operations around the world. Past president of two corporations producing from 2300 wells in Illinois and Florida with over 90 personnel. Served on three boards and provided consultations in field reservoir studies, acquisition/divestiture analysis, and start-up of accounting/reservoir/operational groups. Over 20 MMBO of reserves were added utilizing:
- Acquisition analysis and implementation for several fields purchased for $50 million that increased production from 9,400 bopd to 18,400 bopd, which increased their valuations to over $350 million at the same oil price.
- Divestiture analysis of two fields that sold for $205 million, which were originally booked at valuations of $95 million
- Expert log analysis focused on modern logs, old E-logs, and pulsed neutron logs that resulted in two "Dry Holes" being completed for 24 mmcfd, 2,000 bcpd in a gas well and 340 bopd in an oil well.
- Prospect generation utilizing coincident prospecting, time lapse mapping, structure remapping, drainage maps, and volumetric analysis to find over 2700 mbo with 3 initial wells
- Artificial lift design and failure analysis for rod pumped, gas lifted, and ESP wells that increased production from 3,260 bopd to 5,000 bopd
- Optimization of operational expenses for 3 fields resulting in savings of $14MM per year (33% decrease) through reductions in chemicals, electricity, well failures, personnel, and equipment costs.
Excalibur Ventures, Inc., President and Owner, Houston, TX. 2001 – Present.
Provides Consultation for acquisitions, divestitures, reservoir analysis, and operations which has increased profitability through production increases and expense reductions in several fields. Increased divestment valuations from $95 million on the books to $205 million in the bank. Helped acquire a field for $22 million which was sold for over $80 million (after payout) by finding a low resistivity pay zone and increasing production from 200 bopd to 1300 bopd.
Omega Technologies, Inc., President and Owner, Houston, TX. 2001 – Present.
Develops technologies to improve oil and gas operations, such as the Tubing Saver Rotator (TSR), Sidestream Flush Restrictor (SFR), and Acoustic Pulsation Dampener (APD).
Plains Illinois, Inc., President, Bridgeport, IL. May 1996 – Sept. 2000.
Ran operations of over 2300 rod pumped wells with 80 innovative personnel while lowering costs by 33% (savings of $6 million per year). Discovered new "Devonian" oilfield and named wildcatter of the year.
Calumet Florida, Inc., President, Immokalee, FL. Feb. 1999 – Sept. 2000.
Ran operations of a dozen 11,000 foot ESP wells in sensitive environmental areas and lowered costs by 30% ($2 million per year savings).
Omega Oil & Gas Corp., President and Owner, Houston, TX. Jan. 1993 – Sept. 2000.
Provided acquisition, divestment, and operational analysis for various companies (such as Plains Resources).
Plains Resources Inc., Manager of Acquisitions and Exploitation, Houston, TX. July 1990 – Dec. 1992.
Analyzed (a) and started up a company bought for $22 million while making only $1 million per year cash flow to end up with a valuation over $250 million by reducing expenses by 25% and improving production from 6,700 bopd to 11,100 bopd at the same oil price, (b) a field, which increased its production from 2500 bopd to over 6000 bopd, (c) logs to have company set pipe on "Dry Hole" that produced at 25 mmcfd and 2000 bcpd, and (d) an oilfield to improve its valuation from $12 million to $33 million.
Exxon Company USA, Subsurface and Reservoir Engineer, Tyler, TX. April, 1982 – May 1985.
Developed a 1500 bopd well for 500 mbo (in previously mapped undesired gas cap), drilled a 250 bopd drill well (also in a previously mapped gas cap in a different field), changed artificial lift on a well to improve well from 10 bopd to over 300 bopd, and several other field optimizations.
Exxon Production Research Co., Research Engineer, Houston, TX. July 1979 – March 1982.
Taught artificial lift and facility schools around the world.
Exxon Company USA, Summer Engineer, Lafayette, LA. June 1978 – Sept. 1978.
Optimized glycol dehydration systems in Louisiana.
Awards and Certifications
- Distinguished Lecturer for the Society of Petroleum Engineers, 2020-21
- Illinois Wildcatter of the Year, 1997
- Past Chairman of the Illinois Oil and Gas Advisory Board
- Former Member of the Petroleum Resource Board
- Former Board Member of the Illinois Oil and Gas Association
Presentations & Papers:
- SPE, “Techniques to Reduce Operating Costs for Increased Reserves and Profitability”
- SPE 80886, “Manual Tubing Rotation Reduces Rod Pumping Failures by 76%”
- SPE 20424, “Improved Channel Repairs with Small-Phased Circumferential Perforating Guns”
- 1989 SPWLA, “Pulsed Neutron Log Analysis Techniques and Results for Gulf Coast and East Texas Sandstones”
Technical papers on the following topics:
- Stabilization of formation clays in an oil field
- Optimizing mini-fracs with hot fluids, different sand sizes, clay stabilizers, etc.
- Benefits of plastic-coated tubing in a gas lift field
- Redesigning tubing pump out plugs to improve the accuracy of the pressure failure
Bachelor of Science, Auburn University, Mechanical Engineering, Graduated with High Honors, 1979