SIPES 48th ANNUAL MEETING
June 20-23, 2011
Jackson Hole, Wyoming
Headquarters Hotel - Four Seasons Resort

Diane Finstrom, Executive Director (sipes@sipes.org)

Advertising & Sponsorship Information Now Available

(Icebreaker, Hospitality Suite, Foundation Seminar, Technical Sessions,
Post-Convention Trip, and Spouse Activities)

2004 Program Book (PDF)

2005 Program Book (PDF)

2006 Program Book (PDF)

2007 Program Book (PDF)

2008 Program Book (PDF)

2009 Program Book (PDF)

2010 Program Book (PDF)

CHAPTER MEETINGS


Austin

Luncheon Meetings: County Line on the Hill Restaurant, 6500 Bee Caves Road, 1st Thursday, starts at 11:30 a.m. with speaker and lunch beginning at 12:00 noon.

Reservations: RSVP to Ward Davenport at wdaven@earthlink.com  Walk-ups are welcome, but RSVP to help us accommodate everyone. 

Cost: No charge for SIPES Austin Chapter members and affiliates who are pre-paid with chapter dues.  Guests and prospective members are welcome to attend.

Announced Meeting: No new meeting information is available.

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Corpus Christi  

Luncheon Meetings: Bay Room, Corpus Christi Town Club, Last Tuesday, 11:30 AM.  There will be a cash bar available for those wishing to come early and socialize.

Reservations Required: Contact Linda Phelps: office - 361-883-0055, fax - 361-883-0066, or email - lphelps@xogoperating.com by 9:30 a.m. Friday preceding the meeting.  Members are encouraged to bring guests.

Luncheon Cost:  Members are free, and $20.00 for guests.

Announced Meeting: August 31, 2010. "Determining Value: Measured vs. Perceived" by Curt S. Taylor, managing director of TCW Asset Management Company, Energy & Infrastructure Group.

How people view and determine value of various things in the market and whether they in fact have validity, and how these concepts tie into the oil and gas industry.

Mr. Taylor is responsible for business development and technical review of structured energy transactions. Mr. Taylor was previously a partner of Stratum Group L.P. another structured finance company. Prior to that, he had his own firm, Taylor & Company, where he assisted oil and gas companies with engineering, capital formation and acquisitions. He has been associated with Resource Investors Management Company, First City Bancorporation, Cawley, Gillespie & Associates and Union Oil Company of California. Mr. Taylor received his B.S. in petroleum engineering from Texas A&M University and M.B.A. from the University of Houston. He is a registered professional engineer in Texas. He joined TCW in 2003.

Future Meetings:

  • September 28, 2010

  • October 26, 2010

  • November 30, 2010

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Dallas  

Luncheon Meetings: Dallas Petroleum Club, 2200 Ross Ave. (due to remodeling at Royal Oaks Country Club), 3rd Tuesday, 11:30 A.M.

Reservations required for all meetings: Please call 214-800-2694 by 2:00 p.m. Friday preceding the meeting.

Luncheon Cost: Members paid in advance by annual fees. All guests must pay $30.

Announced Meeting: September 21, 2010. Speaker and topic TBA.

Future Meetings:

  • Thursday, October 21, 2010. Evening meeting from 5:30 to 8:30 p.m. at the Dallas Petroleum Club.

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Denver

Luncheon Meetings: Wynkoop Brewing Company 1634 18th St. (18th and Wynkoop Streets, across from Union Station). 4th Thursday. Gather at 11:30 a.m. Lunch served at 12 noon.

Reservations required for all meetings: Call the SIPES Denver Chapter message line at 303-730-2967. At the end of the message, leave your name and phone number and the name of any guest you are bringing to the meeting. Or make your reservation via e-mail to sipesdenver@yahoo.com. Reservations must be made by noon on Monday preceding the meeting.

Luncheon Cost: $20.00 per person (unless you pay your annual dues).

Announced Meeting: No new meeting information is available.

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Fort Worth

Luncheon Meetings:  Meets at 11:30 a.m. on variable days at the Norris Conference Center (304 Houston St.) to avoid conflicts with other societies and events.

Reservations: RSVP to Russ Hensley at ar_hensley@sbcglobal.net by noon on Wednesday preceding the meeting. Guests are encouraged to attend. 

Luncheon Cost: $15.00 for members, $20 for non-members and $5 for students

Announced Meeting: No new meeting information is available.

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Houston

Luncheon Meetings:  3rd Thursday at the Houston Petroleum Club in the large banquet room, 800 Bell St. (downtown Houston). Social period 11:15 a.m. and lunch 11:45 a.m.

Reservations Required: Make reservations by telephone (713-651-1639), fax (713-951-9659), website (www.sipes-houston.org), or e-mail bkspee@aol.com to B. K. Starbuck-Buongiorno by 12:00 noon on Tuesday preceding the meeting. You can now sign up for the meeting online at www.sipeshouston.org, but payment is still required by regular mail or at the door.

Cost: SIPES Members and Chapter Affiliates who register by 12:00 Noon Tuesday pay $30; cost goes up to $35 for late and walk-up registrations. The price for guests and non-members is $35.00. (No-shows will be billed.)

Announced Meeting: September 16, 2010. "The Resource Play Schism" by Phil Martin, #2390, New Century Exploration.

Shale gas and shale oil are the hottest industry buzz-words, but that doesn’t mean they always inspire delight. In fact the incredibly rapid and important changes in the world of exploration have left some at the station wondering what happened. There is a huge fault line between conventional and unconventional players caused by the profoundly different skill sets and economics of the two exploration models.

The technology that spawned this revolution started when George Mitchell developed a specialized hydaulic fracture (frac) for the Barnett Shale, and was perfected when Devon incorporated horizontal drilling and stage fracs on those same properties. This recipe of horizontal drilling and multi-stage frac technologies or “hori-frac” has transformed exploration and is rewarding the companies who put it to use best with stellar growth. It was developed by independents but the majors have seen the light and are buying in through companies with the know-how, technology and lease holdings.

Wall Street has fallen head-overheels for shale plays and the profitenabling hori-frac technology. The low risk and extensible results are irresistible to capital providers. Companies that secured early lease positions are on top and those that moved too slowly are constantly reminded by the huge new tests, TCF-size reserve reports, multibillion dollar sales and joint ventures being announced on a steady basis. The economic formula is simple: companies book new reserves for every shale well drilled (there are almost no dry holes), then leverage their tumescent balance sheets to raise additional drilling funds in a never-ending cycle. The success has spawned a new gas bubble, but if shale-based companies can maintain their momentum until prices rise, they will rule the planet. The wild cards are punitive taxes and regulations that could constrain the use of hydraulic fracturing. Additional benefits are the environmental advantages and smaller footprint of horizontal drilling. On the other hand Wall Street has pretty much abandoned conventional players, and their access to capital is severely constrained. Most now have trouble even climbing up on the shale band wagon due to the technical and economic barriers. Their problems began with the diminishing returns of conventional exploration in the highly developed onshore provinces and didn’t end with the high shale-driven lease and drilling costs. The latest indignities are their exclusion from shale areas by skyrocketing lease costs and plunging gas prices, and the suspension of offshore drilling after the BP spill.

On a career level, the skills and practices of shale exploration are quite different than conventional exploration. Terms like “vitrinite reflectance, TOC, and thermal maturation” are Greek to conventional players who us jargon like “fault-seal, up-dip, and oil-water contact”. Shale exploration and the hori-frac require highly specialized and multi-disciplinary teamwork, much of which is not crucial or even applicable in conventional exploration. Considering the lack of common expertise and the economic barriers to joining the shale club, some believe there is little incentive to try. This bi-polar gulf between conventional and unconventional players is to some extent irreconcilable. But while the world is focused on the ascendance of shale plays and the demise of conventional exploration, another choice offers salvation. Tight sands (and other tight rocks) are another type of resource play but they share more attributes of conventional exploration. The hori-frac is an ideal application for revitalizing tight sands and the transformation of that sector may turn out to be as important as shale. The early adaptors may be tomorrow’s biggest winners.

Tight sand resources have one foot in the conventional world and another in the unconventional, but thanks to the hori-frac, they can now claim the best of both. Although not as big as shale reservoirs, tight sand fields tend to cover larger areas than conventional ones, mainly as a result of migration issues. During primary migration, hydrocarbons exit the source rocks across all common boundaries. In conventional reservoirs, expelled oil and gas enter a water environment and migrate up-dip into compressed traps, but in tight sands migration is limited and reserves are more likely to remain locked in place across broader areas based on rock properties. There is no migration within shales.

Also, flow rates and drainage areas for tight sand reservoirs have always been lower in tight sand reservoirs; however hori-frac technology has changed the game. It is not unusual for extendedreach,
multi-stage-frac’d, horizontal wells to deliver over 10 times the flow rates and EUR’s of vertical wells. Although they often generally display hyperbolic decline like shales, they are flatter and likely to be much longer. Tight sands are also more likely to contain producible oil than shales although
there are exceptions, like the Bakken.

A huge opportunity exists for tight sands. Many tight reservoirs have been historically underdeveloped and even prematurely abandoned due to pre-hori-frac economics. Tight sands exploration also shares more traits with conventional exploration than with shales, providing an opening for transitioning conventional players. Of course everyone, including those already there, must learn to use the essential new technologies.

In summary, the hori-frac (combination of horizontal drilling and multi-stage frac technology) is the white knight of the exploration world, enabling new plays and reviving old ones with a mix of risk factors and economics. Resource production is able to respond more quickly to increased demand due to its greater congregation of wells and infrastructure. There is a serious schism in exploration, and specific skills are not transportable across all plays. Shale plays are the hottest, but not all shale wells are economic at today’s prices and it is critical to tell the difference. Conventional exploration has higher risk, is difficult to fund, and has turned in the direction of oil. Tight sand exploration shares the lower risk and larger extent of shale plays and may have the best economics of all as hori-frac technology continues to improve.

Phil Martin is a fourth-generation earth scientist with BS and MS degrees in Geology from LSU and UL. He started his career at Union Texas Petroleum before forming his own independent company. He has managed numerous successful exploration and production programs with many field discoveries. The key to this repeated success has been staying in front with the newest E&P technology and moving decisively when new opportunities arise.

Phil is President of New Century Exploration, Inc., a privately-held company with operations from prospect through pipeline in Texas and Louisiana. The strength of the company is its strong exploration team and their skill with the latest seismic, production and well data.

Phil is a Certified Petroleum Geologist, (DPA No. 4333), Certified Earth Scientist (SIPES No. 2390), and a Licensed Professional Geoscientist (State of Texas No. 5393). He is a member of AAPG, HGS, SEG, Onshore Exploration Independents, and Houston Producers Forum. He is Chairman of True Electric, LLC and Geological Data Library. He sits on the Board of the Houston Energy Council, the Houston Chapter of SIPES, and serves as Vice President of the SIPES National Board. Phil is also a member of the AAPG Trustees Foundation, the LSU Foundation, and the European Association of Geoscientists & Engineers.

Future Meetings:

  • Friday, September 24, 2010. SIPES Continuing Education Seminar: "Oil Resource Plays - Examples and Technology."

  • October 21, 2010. "Unconventional Discovery Thinking in the Haynesville Formation" by Marv Brittenham.

  • November 18, 2010. SIPES/HAPL Luncheon. "Legislative Activity in Washington and its implication for the Energy Industry" by Bruce Vincent, president of IPAA.

  • December 16, 2010. "Using Seismic Data to Locate Sweet Spots in Shales" by Tony Rebec.

  • January 20, 2011. "Tectonic Analysis of the 2010 Chilean Earthquake - an Eyewitness Account" by Mel Bevis.

  • February 17, 2011. SIPES/SPEE Luncheon. "Energy for America" by T. Boone Pickens.

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Lafayette

Luncheon Meetings: Petroleum Club, 2nd Wednesday, 11:30 a.m. Contact David Dupre at 337-269-1821.

Announced Meeting: No new meeting information is available.

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Midland  

Luncheon Meetings: Midland Country Club, 3rd Wednesday, 11:15 A.M. Contact Greg Hair at 432-682-9653 or gregeol@mccabeenergy.com. Have a glass of wine before the meeting. Get caught up on the latest take-over rumors, exploration plays, investment opportunities, and political hot topics!

Luncheon Cost: $15 for guests. Guests: Prospective members are always welcome at our lunches.

Announced Meeting: No new meeting information is available.

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New Orleans

Luncheon Meetings: Andrea's Restaurant in Metairie. 3rd Tuesday of each month from September through May. Social w/ cash bar 11:30, Lunch and speaker 12:00 Noon.

Reservations Required: Contact Ed Barry at 504-835-2508. Deadline is two days before the meeting.  

Luncheon Cost: Members are paid in advance with chapter fees. Guest fee is $30.

Announced Meeting: No new meeting information is available.

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Oklahoma City

Luncheon Meetings: Petroleum Club, 35th Floor of Bank One Building. 1st Wednesday at 11:30 AM.

Reservations Required: We will no longer be taking individual reservations and there will not be calls made to Terry Hollrah's office. Instead, we will have a certain number of tables ready each month.

Luncheon Cost: Members paid in advance with chapter fees. Guests $15.00. No charge for first-time eligible guests interested in membership.

Announced Meeting: September 1, 2010. "The History of Directional Drilling" by Chuck Henkes, Weatherford Drilling Services.

Chuck will discuss the history of directional drilling, and types of directional drilling. He will also cover whipstocking, jetting, stabilized, steering, standard steerable systems, rotary steerable systems and coiled tubing drilling. Also to be discussed will be tools utilized for directional drilling and the future of directional drilling.

Chuck received his B.S. in biology from Texas Lutheran College in 1979. He worked for Halliburton/Sperry Drilling Services from 1980-2006, working as a field engineer, a sales rep, then the Oklahoma City operation manager and finally an account representative. He has been with Weatherford as account representative since 2006. His organizational memberships include the AADE, SPE and API. He was on the board of directors for API-OKC Chapter from 1998-2005.

Future Meetings:

  • Friday, December 17, 2010. Annual Christmas Party.

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San Antonio  

Luncheon Meetings: Petroleum Club of San Antonio (Frio/San Miguel Room) 8620 N. New Braunfels Ave., 7th Floor, 3rd Thursday, 11:30 a.m. Executive Board meeting at 11:00 a.m.

Reservations Required: Call Doreen Brooner at 210-822-9092 by Wednesday before the meeting. 

Luncheon Cost: Members paid in advance by quarterly dues. Please bring your meeting announcement card with you to check in - your dues must be current. Guests and Chapter Affiliates - $25.00.

Announced Meeting: No new meeting information is available.

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Notice:  SIPES Chapter Correspondents - Please send, fax or email your monthly meeting notices to the SIPES National office to be included on this page. Help to keep our meeting data up to date!

Fax
214-363-8195, E-mail sipes@sipes.org