2011 pesa annual report
TRANSCRIPT
Petroleum Equipment Suppliers Association
2010 Annual Report
The Business Resourcefor Petroleum Equipment
Suppliers Since 1933
Contents
Chairman’s LetterPresident’s LetterAnnual MeetingWashington Fly-InEnergy EducatorsEmerging LeadersFSO - Foreign Service Officer TrainingCID - Credit Interchange DivisionYear In ReviewExecutive CommitteeCommittee ChairmenFinancialsBoard of DirectorsMember CompaniesPast Chairmen
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Chairman’s Letter
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With everything it does, the PESA Executive Committee has one premise—
membership value.
Despite the highs and lows of the market—particularly the lows—PESA’s leadership
strive to build upon the value of membership. Our goal is to build upon each past
year’s success, making a PESA membership more meaningful and of practical
business use.
In every measurable sense, PESA had a fantastic fiscal year 2010-2011. We
continued with our tradition of recruiting the best speakers in oil and gas to address
our members. They included Jim Hackett from Anadarko, Mark Papa from EOG
Resources, Randy Limbacher from Rosetta Resources, Mark Ellis from LINN Energy, Steve Thurston of Chevron, and
many more.
PESA has continued its drive to educate future generations about the industry. In fact, this is another area in which
we increase our efforts each year. Schlumberger’s Pat Bond and the Energy Educators Committee have greatly ex-
panded our education efforts by creating four new programs.
Among these was a half-day Oil 101 class for 200 IPAA Petroleum Academy students that discussed the basics of
drilling. Several PESA members hosted high-GPA student externs from the Milby Petroleum Academy. Upon comple-
tion of the program, PESA hosted a gala night for the students and their families which featured presentations by
Houston Mayor Annise Parker and HISD Superintendent Terry Grier.
The committee also focused on higher education. The Rice University Energy Club held a discussion on oil and gas
production. Commenting on the event’s success, Bond said, “I’ve never received so many calls and emails as a result
of a single event—the students were excited to have us.” The committee also started a long-term relationship with the
University of Texas at Austin McCombs School of Business, which was kicked off by a discussion group on campus.
If ever there were a time to become involved in government and energy policy, it’s now. Numerous issues are
currently under discussion that could significantly impact the service and supply sector. It’s time to make our voice
heard. The PESA Executive Committee revived the Washington Fly-In for late February. Led by Halliburton’s Bob
Moran and Galen Cobb, this event presents a rare opportunity to meet and educate policymakers in Washington.
Members will have face-to-face meetings with several Congressmen, Senators, Senior Congressional Staff as well as
members of the U.S. Chamber of Commerce and other influential decision makers.
— Bill Coates
Schlumberger
PESA Chairman
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President’s Letter
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We have come a long way in the past 78 years. Looking back at our history is
an excellent gauge of what has been accomplished by our PESA member
companies and the Association.
Our members have developed the industry expertise that is a benchmark world-
wide. Their technological advancements have kept pace with those that have
allowed man to move from the earth to the moon and back again. Wells are drilled
thousands of feet below the surface of the ocean and special techniques are used
to pinpoint well placement. Recent developments have allowed the industry to tap
resources that have long been unrecoverable. The industry does this every day in
difficult and harsh locations to provide the energy required worldwide.
PESA has had the opportunity to benefit from this expertise. At its inception, PESA was specifically formed to be a
link between the U.S. government and the oilfield service, supply and equipment companies which provided the
necessary infrastructure needed to keep the US energy industry operating. We have moved from that point in history
to multiple activities that illustrate the vision and dedication of our volunteer leaders.
We are pleased to present our 2010 annual report which summarizes the highlights of our association year from
involving our members in mentoring and educating area students to providing energy education to government and
industry groups.
Any success we have experienced is due to our member company participation and their willingness to share their
expertise with us and others. We are grateful for the opportunity to work with our members on a day-to-day basis
throughout the year.
— Sherry Stephens
PESA President
Annual Meeting
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Uncertainty had been the order of the day for nearly two years. PESA member companies were looking for solid
ground in 2010, deciding whether the recoveries that had been made were sustainable and if that might correlate to
increased E&P activity. That prolonged uncertainty—and how to manage a business through it—was the theme for the
2010 Annual Meeting.
Economist and founder of 21st Century Forecasting, Don Reynolds, kicked off the meeting, suggesting that both the
stock and energy markets were set for growth. “I think we’re beginning to emerge from another round of a
lateral-moving economy. In the near term, I’m a raging bull and have invested everything. The Dow Jones will get
back to 12,000 and back off a little before elections. My view on energy is simplistic. We use 25 barrels per person,
India uses 2, and China uses 0.8 barrels. As their demand goes up, so do prices. So for the long term, I’m all in.”
A three-person panel discussed domestic land exploration and production from the independent producers point of
view. Richard Stoneburner, President and COO of Petrohawk Energy, says that when working in shale gas, one
needs to be clever, bold, aggressive, and have a lot of capital. But, the plays can be prolific and, “If you do your
homework and find the right position, it’s hard to pay too much for acreage in the large shale gas plays.” Lee
Boothby, President and CEO of Newfield Exploration, says that unconventional resources are a “great gift” to the
world. “Natural gas is the real bridge fuel. We need to get out there and educate in person—not in 15-second
soundbytes—and while we’re at it, ensure that young people understand there are great careers in energy.” And
Steven Mueller, President and CEO of Southwestern Energy, says that his company is looking for a repeat of the
success they found in the Fayetteville. They believe they’ve found it in New Brunswick, Canada’s Horton Group, a 200
to 600 foot-thick sandstone and shale reservoir with oil potential.
The second day of the Annual Meeting featured another three person panel that discussed international oil and gas
from the Supermajors’ perspective. Peter Coleman, Vice President, Americas for ExxonMobil Production Company,
says that North America is becoming more and more attractive. The company will spend about $125 billion in capital
investments over the next five years, about 22 percent in Canada and 15 percent in the U.S. Victor Obadiah,
President and CEO of Total E&P New Ventures, says that North America also is attractive for Total, but the company
prefers joint ventures. Among their recent investments is a $2.25 billion stake in Chesapeake Energy, which equates
to a 25 percent stake. And Marshall Adkins, Managing Director, Oilfield Services, Raymond James & Associates, says
that oil is poised for a strong and long-term recovery, while gas will hover at around $5. “Prices will move higher
based on deteriorating non-OPEC supply and falling excess OPEC capacity. The market must eventually ration
available oil by price, and that will begin within 2 to 3 years.”
Nearly 200 members and spouses attended the meeting, which includ ed a presentation on body language by Jan
Hargrave and entertainment by comedian Henry Cho.
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Washington Fly-In
PESA’s founding directive was to establish and maintain a working relationship with the federal government. This
year, the Association returned to its roots.
Sixteen executives flew into Washington, D.C. to meet and educate policymakers and make the service and supply
sector’s voice heard. PESA members met face-to-face with many lawmakers including Sen. David Vitter (LA), Rep. Doc
Hastings (WA), Rep. Steve Scalise (LA), Rep. Tom Reed (NY), and Rep. Kevin Brady (TX) in addition to a host of
Congressional staffers and industry leaders.
Overall, members found a receptive ear for service and supply companies in each visit, as well as coming away with an
education in the workings of Washington, D.C.
“The Fly-In has influenced me tremendously,” says Josh Lowrey (Sunbelt Steel). “I have always enjoyed politics and
business, but was a little naive on the politics of business. I have made contact with a few of my Pennsylvania,
Wisconsin, Oklahoma, Arkansas, Louisiana, Illinois and Ohio colleagues who I anticipate will join PESA and use the
association’s influence for the greater good.”
PESA Government Affairs Chairman Bob Moran says, “These meetings helped highlight some of the good things we
can accomplish as PESA members when we work together. There were many good ideas raised about special
projects and town hall activities that PESA may want to pursue. I look forward to examining these ideas and putting
some into practice.”
Much of the discussions focused on three areas: the permit logjam and its implications in the Gulf; potential fracturing
legislation; and a means of PESA becoming more involved in policy matters.
Though his state is engulfed in a natural gas fracturing moratorium, Rep. Tom Reed (NY) says that “Joe Public” and
many lawmakers are behind the industry.
“I think we have a receptive crowd in New York. We need to be firmly committed to a policy bringing domestic energy
supplies onto the table. We have a lot of work to do, but we’re standing with you on the energy issue … I look at the
Marcellus shale as a great opportunity for my district.”
Sen. David Vitter (LA) says that he is “focused like a laser beam on trying to break through this permit logjam in the
Gulf. We had some good news (that one permit was issued Feb. 28) and that’s progress. The real question is how
much will it accelerate. I’ll keep pushing in every way I know how. More than ever before, we need to produce as much
energy at home as we can, yet we’re doing the opposite.”
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Energy Educators
Since its inception last year, PESA’s newest committee is charging ahead. Energy Educators, backed by an annual
budget from the Executive Committee, hosted four large education events in addition to their Teacher of the Year
Award and work with local schools.
This summer was a preview of the oil industry in 2015 for 51 students and eight companies. For three weeks, students
from Milby High School’s Academy for Petroleum Exploration and Production Technology worked as externs with
industry companies, often attending executive meetings, testing equipment, and getting a sense of how the industry
operates. To qualify for participation in the externship program, students had to maintain a grade point average of at
least 3.0.
“It’s given kids a vision of the future and it’s the type of partnership that any organization ought to be very pleased
with—I know we are here at HISD,” says HISD Superintendent of Schools Terry Grier. “It’s critical to ensure that our
students are college or career ready. What this program does is opens windows to the future and exposes kids to jobs
and careers that frankly they’ve never thought of.”
Upon completion of the program, Energy Educators hosted an awards gala for the students and their families at
Brady’s Landing in south Houston. The gala’s featured speakers included PESA Past Chairman Galen Cobb
(Halliburton), Houston Mayor Annise Parker, and Terry Grier. Each student received a certificate of completion and a
$1,000 scholarship from the companies where they worked.
The companies that hosted externs this year are El Paso Corporation, FMC Technologies, Inc., Halliburton, Marathon
Oil, National Oilwell Varco, Schlumberger, Shell Oil, and Smith International.
The committee also hosted events at the university level. At Rice University, Energy Educators Committee Chairman
Pat Bond (Schlumberger) and Collin Gerry (Raymond James & Associates) gave an overview of drilling and the
industry as well as the current market outlook. Bond stressed that the upcoming manpower shortage equates to
excellent careers for driven graduates. The event hosted about 60 students from the university’s Energy Club. At the
University of Texas at Austin McCombs School of Business, Bond again delivered a mini Oil 101 and career lecture.
Twenty-five members of the school’s Finance Club attended.
Finally, the committee gave the second annual award for teachers in the IPAA energy academies. The award—dubbed
the PESA Teacher of the Year Award—is given to an energy academy teacher who exemplifies excellence in the
classroom. The award carries a $10,000 stipend, distributed to the teacher and his or her school. Bond presented the
award to Kimberly Myers of Westside High School at the IPAA annual meeting.
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Emerging Leaders
Now in its fourth year, the Emerging Leaders Committee is still growing. This year, the group attracted more than
700 members at four events.
The committee began the year with its fifth Executive Address Series featuring Robert Workman, Group President,
Distribution Services for National Oilwell Varco. He spoke about what it takes to be successful, to lead people, and
produce results in the oil and gas business. “I come to work with one purpose every day—to make my team success-
ful. That’s it. At the end of the day, leaders are there for everyone else,” says Workman. “You become a leader by
consistently producing extraordinary results—leading is producing results through others. If you’re leading and have
made your team successful, you’re successful and your career path will be unlimited.”
Next, the Emerging Leaders held its fifth class of the highly popular “Oil 101”. The course features experts from member
and industry companies outlaying the drilling process from geology to end-of-life reservoir issues. Speakers included:
James Geary, Geologist, Hess Corporation
Brian Hadley, Downstream Project Engineer, Mustang Engineering
Steve Jacobs, Principal-Market Intelligence, Decision Strategies, Inc.
Tom Kellock, Head of Consulting, Houston, ODS-Petrodata
Jamie Patrick-Maxwell, Field Development Manager, FMC Technologies, Inc.
Eduardo Proano, Advisor, Service Manager - Production, Schlumberger
David Reid, Global Accounts Vice President, National Oilwell Varco
Mark Teel, Client Relations & Technical Communications Manager, Schlumberger
Bob Tippee, Editor, Oil & Gas Journal
At the group’s third event for the year, the committee hosted Tony Bridwell—Area Vice President & Executive Facilita-
tor, Partners in Leadership—who presented The Oz Principle Accountability Training, which is based on the best-sell-
ing book of the same name. The training emphasizes communication and personal investment, culminating in four
best practices—See It, Own It, Solve It, and Do It. The event was held in the Toyota Center, and following the train-
ing, members enjoyed a Houston Rockets game.
Finally, a second Oil 101 class completed the year. Speakers for the event included:
James Geary, Geologist, Hess Corporation
Brian Hadley, Downstream Project Engineer, Mustang Engineering
Wes Heiskell, Vice President for Global Business Management – Fishing Tools, Schlumberger
Steve Jacobs, Principal-Market Intelligence, Decision Strategies, Inc.
David Reid, Global Accounts Vice President, National Oilwell Varco
Jamie Patrick-Maxwell, Field Development Manager, FMC Technologies, Inc.
Mark Teel, Client Relations & Technical Communications Manager, Schlumberger
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Foreign Service Officer Training
PESA has remained the training highlight of the year for Foreign Service Officers since 1992. Member companies
donate their time, personnel, and facilities to give FSOs a hands-on overview of the petroleum industry from production
to supply. In return, PESA member companies gain valuable, educated contacts in the FSO community—to date, the
program has trained more than 425 officers, who now operate in more than 40 countries around the world.
The eighteenth FSO class of 25 graduates hailed from the U.S. Departments of State, Energy, and Commerce. Their
current assignments range from Accra, Oslo, Baghdad, Lagos, Mumbai and more.
Highlights of this year’s FSO training included a classroom session with Steve Jacobs (Decision Strategies, Inc.),
Marshall Adkins (Raymond James & Associates), and Tom Standley (FMC Technologies, Inc); tour of a drilling rig at
Schlumberger; university sessions at Rice University and the University of Houston; an explanation of the latest
high-tech downhole sensors at Weatherford; a tour of Oceaneering’s new high-performance cable facility; a visit to FMC
Technologies’ production floor; plus a tour of Halliburton’s Security drill bit facility.
Each year, PESA hosts a reception and dinner allowing members to meet the new class of Foreign Service Officers—
well over 120 members attended this year. The dinner’s keynote speaker was Dan Pickering, Co-President and Head
of Research for Tudor, Pickering, Holt & Co., LLC. He discussed eight major issues facing the oil and gas industry now
and in the near future including shale gas, the Gulf oil spill, and Wall Street.
“Trading is very simple right now—it’s tightly correlated with economic sentiment, so if the stock market is up, oil also is
up,” says Pickering. “We’re not peak oil people, but we think that while oil supply can grow, demand can grow faster,
and that means price has to back out demand. Price will be bullish.”
Also affecting the price long-term is the Gulf oil spill. Prior to the spill, the area had 33 rigs running. While he says the
cut in production doesn’t matter in a macro sense right now, it will.
“We think oil will be $90 long term for three main reasons,” he says. “It isn’t easy to produce physically and politically,
we’re pushing out additional supply a little bit with the oil spill, and demand is growing faster than supply. We think $90
is where demand starts to throttle back.”
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Credit Interchange Division
Representing 49 member companies and divisions, the Credit Interchange Division is a unique PESA benefit. It’s a
vital, everyday business service for subscribers which allows its members to access current confidential ledger
experience, which helps to determine customer credit worthiness.
This year, CID received 39,000 requests for payment experience on more than 10,000 reports, representing over
44,000 ledger entries. The group added five new members this year: Pathfinder, Thomas Oil Tools, Hamilton Group,
Integrated Production Services, and Precision Drilling Company, LP.
The service also sponsored a three-day annual meeting held this year at the Omni Bayfront Tower in Corpus Christi.
The meeting featured three speakers—Richard Grant, a consulting psychologist from the McCombs School of
Business at the University of Texas at Austin; Bill Coates, PESA Chairman and Vice President, Sales & Marketing,
Schlumberger; and Phil Snow, a partner at Snow, Fogel, Spence LLP.
Coates says that North America was the story for 2010, and likely will be for the first half of 2011 as well. The
industry saw a dramatic rebound in the U.S. onshore, while internationally business was sluggish as all catalysts for
growth were trumped by geopolitical issues. The future of industry growth will be in liquid hydrocarbons and
condensates, such as the Eagle Ford play. “While there will be a lot of effort to keep classic oil production at current
levels, 70 percent of supply growth by 2020 is not going to come from classic oil.”
Snow says that credit managers need to regain the past power position in bankruptcies. He cited a litany of trends
working against oilfield service and supply companies such as spending without getting results, a lack of courtroom at-
tendance, and ceding control of the bankruptcy process to lawyers and accountants. As a remedy, he suggested get-
ting all title information despite the cost, finding law and accounting firms who work on an incentivized basis, and
credit managers thinking creatively to offer solutions in bankruptcies.
“You are well positioned to recover the type of rights that were uniformly asserted in the past, but you have to go
about it with a different attitude,” he says. “In bankruptcy, there are winners and losers, and you’ve lost sight of that to
appease parties along the way. Go out to win.”
Finally, Grant delivered a discussion on personality preference, saying that learning one’s type is key to team building
and understanding others. Using the Myers-Briggs Test, members focused on the personality preference and learned
about their opposites. He added that preferences are simply that—preferences, not edicts. If a person scores strongly
as an extrovert, it doesn’t mean that a person has no empathy for an introvert. It means that they have a preference
for communicating and centering themselves in an extroverted manner.
“If you and your opposite are both on a team and pulling together, you’re unbeatable,” he says. “But if types aren’t
pulling together, they’ll be adversaries, especially on time and money.”
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The Year in Review
Gulf Coast-Texas District Meeting
It’s safe to say that Randy Limbacher likes his company’s
chances in the Eagle Ford. He’s bet the company on it.
Limbacher, President and CEO, Rosetta Resources, Inc.,
took over the company a little more than three years ago.
He inherited a conventional gas company with presence in
the Gulf of Mexico, Sacramento Basin, and the Rockies.
Other than the logo, that company is gone.
Today, the company focuses on unconventional plays,
nearly exclusively in the Eagle Ford. Rosetta has a market
cap of $2.5 billion, produces 50.2 Bcf over 763 wells with
proved reserves of 479 Bcf.
The company holds about 415,000 acres, but focuses
nearly all of its $360 million spending on the Eagle Ford.
The reason, says Limbacher, is that the play is a game-
changer for small companies like Rosetta. “Inventory wise
in 2007, we had about 100 Bcf in reserves, which was only
two years of production,” he says. “Today in the Eagle
Ford alone we have about 2 Tcf of identified drillbit
projects.”
In 2010, the Eagle Ford generated close to $2.9 billion in
revenue, supported approximately 12,600 full-time jobs,
and provided nearly $47.6 million in local government
revenue. Over the next ten years more than 5,000 new
wells are expected to be drilled, generating more than
$21.5 billion in total annual economic output, supporting
roughly 68,000 full-time jobs in the area.
“It’s a world class reservoir. What’s amazing is that
regulators look at our industry and say the oil companies
are just fine—I don’t mind that, but we’re talking about
nearly 70,000 jobs in just one play and the impact on the
community is outstanding.”
In Rosetta’s Gates Ranch area, the company has 240
wells slated for drilling.
“To finish those wells, we have to spend another
$2.5 billion, and our market cap is only $2.4 billion right
now, so there are some challenges to financing,” he says.
“If everything turns out to be good and we develop
everything, we would need to spend $5 to $6 billion. These
are good problems to have.”
Finally, he added that among the major needs in the play
are huge capital investments, more rigs and stimulation
equipment, better water recycling technology, and health
and safety vigilance.
“I’ve worked at three companies with significant presence
in South Texas, and my experience on the safety side is
very good compared to other areas,” he says. “Last year,
we tripled our contractor man hours and our recordable
incident rate went down from 2 to 1.25. That’s a trend we
need to figure how to prolong.”
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Supply Chain Seminar
The 2010 Supply Chain Seminar featured three speakers:
EOG Resources Chairman and CEO Mark Papa; Raymond
James & Associates analyst Collin Gerry; and EnerVest, Ltd.
Executive Vice President and COO Mark Houser.
Papa says that the oil and gas industry’s successes are not
insular achievements—they’re a success story for the nation.
Key advances, particularly horizontal drilling, saved
$50 billion in energy costs due to lower natural gas prices as
well as providing 1 million barrels of additional domestic oil,
which reduces the importation of foreign oil by $29 billion and
creates thousands of jobs.
“In one state alone, the industry has raised production from
100,000 barrels to 500,000 in a relatively short time,” says
Papa. “The effect so far is that North Dakota is a bigger oil
producing state than Louisiana.”
The Bakken, of course, is not the only oily shale play.
“We believe that in our 500,000 acres in the Eagle Ford, we
have over 900 million barrels oil equivalent after royalty—
since most companies report before royalty, that’s over a
1 billion barrel oil discovery,” he says. “Nobody has found
1 billion barrels in the U.S. in 40 years excluding Prudhoe
Bay. We believe that the Eagle Ford will turn out to be the
sixth largest oil field in the history of the U.S. These plays are
game changers.”
Gerry says he expects 2011 to be a bull market for oil and a
bear market for gas.
“In the near term, oil markets will go up or down on anything
happening around the world—we call it headline risk,” says
Gerry. “In the long term, demand looks solid and supply
looks constrained, while the exact opposite is true for gas.”
Houser describes his company’s operating philosophy as a
used car buyer—they buy large numbers of operating wells
in mature fields, remediate as necessary, and resume
operations. He says that some excellent used cars are
coming up in the shales. The company spent $1 billion in
2010 to acquire a stronghold in the Barnett.
Simple economics swayed Houser and his team to stray into
shale. Production in the Barnett has increased from 243 to
383 Mmcf between 2008 to 2011, while expenses have gone
down from $1.99 to $1.62 per Mmcf.
“These wells provide strong cash flow with 97 million Mcf per
day with 400 wells,” he says. “All of the plots are held by
production and our lease operating expenses are about $226
million, half of which is people and the other half is services.”
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Membership Meeting
A dramatic shift in natural gas supply has finally given
the U.S. energy options, says Jim Hackett, Chairman
and CEO for Anadarko Petroleum Corporation and
Chairman of the American Natural Gas Alliance.
“I believe that natural gas is the right answer for our
country. It’s abundant, it’s domestic, and it’s affordable,”
he says. “The amount of gas that we have in place in the
U.S. is stunning and the abundance issue has become
important. It’s allowed the mainstream of our industry to
speak with conviction to policy makers and industrial
users and say, ‘We have the gas.’ It’s abundant and it’s
affordable with known technology.”
He says that the industry needs to speak with one voice
in the interest of expanding natural gas markets.
“The reason why renewables fail is that they’re neither
scalable or affordable. Natural gas has both going for it.
Independent studies show that with the shale resource
and technology that we have now, we can fulfill a
growing market over the next seven years at $5 to $8
per dekatherm, which equates to $30 to $48 per barrel
oil equivalent. We can produce a lot of natural gas and
serve new markets at an affordable price.”
Another great story for the industry is that natural gas
makes a real impact on the economy and jobs.
“We added 400,000 jobs to the U.S. economy between
2004 to 2008. We create 2.8 million total jobs and
contribute $385 billion to the economy and that’s just the
natural gas part. We’re seeing that many politicians who
thought they were coal state politicians are discovering
that they’re natural gas politicians.”
He says that transportation is much less of an immediate
issue for natural gas demand, but it’s at the heart of
psychology for America.
“I believe with all my heart that we should be driving nat-
ural gas heavy duty fleet vehicles. Every fleet with
centralized fueling in our country should be on natural
gas.”
The best place to begin conversion is fleet vehicles, he
says.
“If you look at heavy duty vehicles, they average 25,254
miles driven per year with a fuel economy of 6.2 miles
per gallon and consume 4,075 gallons of fuel. Consider
that at the high side of where natural gas might trade in
the next 7 years—$48 oil equivalent—is less than $2.50
a gallon. We’re pretty sure that diesel will be over $4 in
the near future so there’s a lot of savings with that kind
of fuel intensity.”
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Explorers Award
Reinvention can be a slow and tedious undertaking. For
most companies, charting a new overall strategy and
instituting change takes years, if not a decade.
But not at EOG Resources. Since Chairman and CEO Mark
Papa took the helm ten years ago, the company has been
successfully reinvented twice. EOG has shifted from a
conventional natural gas, to an unconventional shale gas
leader, to a first-mover in unconventional oil.
“Mark and his team have been able to not only reinvent the
company twice in the past decade, but consistently make it
more successful, productive, efficient, and technologically
driven,” says Charlie Jones (Forum Energy Technologies),
Chairman of the PESA Explorers of Houston Committee.
Together with Robert Workman (National Oilwell Varco) and
Galen Cobb (Halliburton), Jones selected EOG for PESA’s
2010 Explorer’s Award. The award is given annually to the
E&P company that has demonstrated excellence in
technological innovation and leadership in the industry.
Jones says that last year EOG was the epitome of agility,
inventiveness, and industry leadership. The company holds a
position of over 500,000 acres in the North Dakota Bakken,
and oil production in the region exceeded pipeline capacity.
“They designed and opened a rail transportation system to
transfer 60,000 gross barrels from a crude oil loading facility in
Stanley, North Dakota to an unloading facility in Stroud,
Oklahoma and then a 17-mile pipeline running from that point
to a terminal in Cushing, Oklahoma. That’s getting the job
done.”
Papa was on hand to accept the award for EOG, along with
Senior Vice Presidents Loren Leiker and Gary Thomas, as
well as Purchasing Director Doug Runkel.
“It would be easy to say that EOG was a first-mover and we
thought through all this and came up with these eureka
moments,” says Papa. “But the reality is that without the
advances in the service industry, EOG would have never
gotten there and neither would the rest of the industry. It
wasn’t EOG that invented that stuff. We just took what you
built and adapted it.”
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Legal Seminar
PESA’s 2010 Legal Seminar featured five speakers:
Pablo Ferrante, a partner with Mayer Brown LLP; Brad
Eastman, Associate General Counsel, Cameron; Jeffrey
Carr, Senior Vice President, General Counsel, and
Secretary, FMC Technologies, Inc.; William Jacobson,
Vice President, Co-General Counsel, and Chief
Compliance Officer, Weatherford International, Ltd.; and
David Beck, Co-Founder, Beck Redden & Secrest LLP.
Boland says that the much anticipated mergers of the
past several years never really panned out. Instead,
mergers in the service and supply sector have been
relatively few.
He says the drivers for the mergers that occurred—and
likely will occur in the future—all have common themes.
“Customers want more single source responsibility—they
want, for example, the entire completion operation under
one company,” he says. “A huge part of the
Schlumberger / Smith deal was getting Smith Bits.
Schlumberger wants to be able to offer the entire bottom
hole assembly.”
As Boland worked on the three largest recent mergers in
the service and supply sector, he discussed the lessons
learned from each.
Schlumberger / Smith—The merger had 20 potential
product or service overlaps, some of which were
significant. The initial view from the analyst report was
that it looked a lot like Halliburton and Dresser when they
combined. We assumed that there would need to be a
divestiture due to shared products in the LWD / MWD
space, but we received clearance in the same week from
the U.S. and European Commission. The deal went
through because we could show that Smith was not
particularly strong offshore in LWD / MWD. They were
strong in onshore gas fields, but the concern was
offshore.
Baker Hughes / BJ Services—The merger had only 15
overlaps, but many were significant. In the first three
months, most of them were resolved, but one remained
in sand control because we couldn’t find a fifth competitor.
We had data that the two were not direct competitors
and rarely if ever competed head to head in sand control.
But the companies pursued a divestiture to close as
quickly as possible, likely because Baker had negotiated
a good deal in buying BJ at a 17 percent stock premium.
Cameron / NATCO—Early on, it looked to the DOJ that
the companies had product overlap in more areas than it
didn’t—it’s all separation equipment. We urged the DOJ
to look at the demand side and spent months educating
the DOJ, saying that “no, that equipment doesn’t do the
same thing as that.” We got them down to a single piece
of equipment, a refinery de-salter. Instead of divesting,
the company sold an intellectual property license to an
aftermarket company. It took six months, but we closed
on time.
24
Manufacturers Committee Meeting
The 2010 Manufacturers Committee Meeting featured a
three-speaker panel that focused on exploring the latest
processes, thinking, and techniques employed by
successful businesses.
Chris Reinsvold, CEO of Decision Strategies, Inc.,
discussed risk management in oil and gas companies.
He suggested a quantitative model in analyzing risk
including five steps: identify the customer’s objective;
identify and quantify the uncertainties that may affect the
customer’s objective; identify the decisions that may
affect the customer’s objective; build an influence
diagram that describes how the uncertainties and
decisions affect the objective; and model results and
perform sensitivity analysis.
Michael Grojean, Professor in the Practice of
Management at Rice University, discussed effective
leadership in crises. He focused on a metaphor of
effective leadership based on Norman Maclean’s “Young
Men and Fire.” The book describes a systemic failure
among several layers of leaders that culminated in the
deaths of 13 smokejumpers in the Mann Gulch fire of
1949.
Finally, Steve Palagyi, Director and Partner at PRTM
Management Consultants, discussed building effective
customer-focused cultures. He stressed the importance
of co-creation, or working directly with suppliers for
optimal manufacturing. The process is based on the
premise of all stakeholders sharing experiences and
building platforms for ongoing engagement, dialogue,
and interaction.
25
Explorers Golf Tournament
Weather was once more on PESA’s side, yielding yet
another picture perfect day on Redstone Golf Club’s links.
More than just a great day of golf, the Explorers of
Houston Golf Tournament is a chief contributor for much
of PESA’s community involvement. Proceeds from the
event support the Explorers of Houston Award, the
Offshore Energy Center, the National Energy Education
Development Program, and IPAA’s Petroleum Academies.
For the twelfth annual tournament, thirty-three teams hit
the links at Redstone’s tournament course. The event was
chaired and organized by Committee Chairman Charlie
Jones, President and CEO of Forum Energy
Technologies, and sponsored by Gulf Publishing’s World
Oil, Schlumberger, GE Oil & Gas, Oil States International,
and Energy Alloys. Each player received a gift card for an
on-site Nike pro shop.
The tournament champions were Jerry Lastovica (Flexitallic),
Brian Vincent (Lake Charles Rubber), Keith Miller
(Flexitallic), and Craig Trosclair (Lake Charles Rubber).
Executive Committee
26
Bill Coates
Chairman
Schlumberger
John T. Gremp
Vice Chairman
FMC Technologies, Inc.
Chris Cragg
First Vice President
Oil States International, Inc.
Robert Workman
Immediate Past Chairman
National Oilwell Varco
Galen Cobb
Past Chairman
Halliburton
James B. Renfroe, Jr.
Treasurer
Wood Group Well Support
Paul Butero
Secretary
Baker Hughes, Inc.
Joseph C. Winkler
Gulf Coast District Chairman—Texas
Complete Production Services, Inc.
Gary Halverson
Gulf Coast District Chairman—Louisiana
Cameron
Paul Coppinger
Mid-Continent District Chairman
Circor Energy Products, Inc.
Charles Currie
Membership Chairman
Schlumberger
Charlie Jones
Explorers of Houston Chairman
Forum Energy Technologies
Robert L. Potter
Emerging Leaders Liaison
FMC Technologies, Inc.
Pat Bond
Energy Educators Chairman
Schlumberger
Committee Chairmen
27
Corporate Counsel Advisory
Brad Eastman
Cameron
Credit Interchange Division
Ross Guthrie
Key Energy Services, Inc.
E-Business
Charles Currie
Schlumberger
Emerging Leaders
Edward Hemphill
GE Drilling Systems
Energy Educators
Pat Bond
Schlumberger
Executive
Bill Coates
Schlumberger
Explorers of Houston
Charlie Jones
Forum Energy Technologies
Finance
James B. Renfroe, Jr.
Wood Group Well Support
Government Relations
Bob Moran
Halliburton
Health, Safety & Environment
A. J. Leuterman
M-I SWACO
Human Resources
Susan Webb
FMC Technologies, Inc.
Lien Law
Jere Crean
Schlumberger
Manufacturers
Robert E. “Bob” Funk
Harbison-Fischer, Inc.
Membership
Charles Currie
Schlumberger
Quality
Gary Devlin
Drilling & Production Systems
Cameron
Service
Jeremy Thigpen
Downhole Tools & Pumping Solutions
National Oilwell Varco
Supply
Burk L. Ellison
Distribution Services
National Oilwell Varco
Financials
28
For many in the oil and gas business, 2010 was the year of mixed blessings.
Onshore drilling thrived, while offshore work ground to a standstill. Domestic activity
was positive on the whole, while many international markets struggled with
economic recovery.
PESA, on the other hand, had another very good year in terms of membership and
event participation. Leading the charge was Charles Currie (Schlumberger) and the
Membership Committee, which yielded 29 new member companies to PESA, near
an all-time high. Member dues, however, were down $17,854 for the year, totaling
$808,863. These are the aftereffects of the 2008 recession as well as some high-
profile mergers in the sector.
More than 2,200 members registered for the association’s seventeen public events. The largest draws this year were
the Mid-Continent District Meeting, the Gulf Coast-Texas District Meeting, the Membership Meeting, and two Oil 101
courses. Meeting revenue and expenses both increased for the year by 13 percent and 11 percent respectively.
Revenue increased to $549,022 from $484,913, and expenses increased to $323,462 from $292,340. The Credit
Interchange Division added five member companies for 2010 while usage fees remained the same.
In short, PESA is maintaining a strong member and revenue base as it provides an excellent value for member
companies. Another indication of the association’s strength is reflected in the financial results.
Operating revenues and expenses were relatively flat for the year—both increased by less than 5 percent—while
unrestricted net assets increased more than 12 percent. The increase in liabilities for the year is due to deferred 2011
membership dues and fees which were paid in 2010. PESA also realized a 22 percent increase in cash and
investment values due an increase in deferred income and realized and unrealized gains on the investment portfolio.
PESA is an association that has been supporting the industry for 77 years, changing with its membership and
constantly striving to add value for its members. From a financial standpoint, PESA is poised to be a force for the
industry for decades to come. The reason for that success is, of course, our member participation. Thank you all for
your ongoing support, and I look forward to seeing you at future PESA events.
— James B. Renfroe, Jr.
Wood Group Well Support
PESA Treasurer
Financial Overview
29
2010 2009 2008
Operating Revenue $1,945,045 $1,876,654 $1,843,071
Investment Activity $210,606 $376,268 ($377,885)
Total $2,155,651 $2,252,922 $1, 465,186
Expenses $1,815,721 $1,772,544 $1,781,313
Net Income $339,930 $480,378 ($316,127)
Assets $3,815,153 $3,097,773 $2,634,988
Liabilities $698,998 $321,548 $339,141
Unrestricted Net Assets $3,116,155 $2,776,225 $2,295,847
Cash and Investments $3,672,423 $2,995,386 $2,483,560
Employees 6 6 6
Member Companies 184 179 171
Board of Directors
30
At-Large
Robert R. Workman
Group President
Distribution Services
National Oilwell Varco
David H. Barr
The Woodlands, Texas
Galen Cobb
Vice President - Industry Relations
Halliburton
Jack B. Moore
President & Chief Executive Officer
Cameron
Robert L. Potter
Executive Vice President
FMC Technologies, Inc.
Craig Ketchum
McJunkin Red Man Corporation
George I. Boyadjieff
Villa Park, California
Sheldon R. Erikson
Chairman of the Board
Cameron
Loren K. Carroll
Smith International, Inc.
Rhys J. Best
Chairman of the Board &
Chief Executive Officer
Seren Management LLC
Peter D. Kinnear
Chairman of the Board
FMC Technologies, Inc.
Zeke Zeringue
Waggaman, Louisiana
Doug Rock
Houston, Texas
James L. Bryan
Houston, Texas
Max L. Lukens
Houston, Texas
Russell E. Ginn
Non Executive Chairman
Sunbelt Steel
Joseph H. Netherland
The Woodlands, Texas
Jack Murphy
Dallas, Texas
Gilbert H. Tausch
Sugar Land, Texas
James D. Woods
Chairman Emeritus
Baker Hughes Incorporated
Robert H. Smith
Dallas, Texas
William E. Bradford
Dallas, Texas
Philip Burguieres
Vice Chairman
Houston Texans
Thomas H. Cruikshank
Dallas, Texas
J. W. Neely
San Juan Capistrano, California
W. C. Walker
Houston, Texas
J. E. Chenault
Houston, Texas
George A. Helland, P.E.
Senior Associate
Cambridge Energy Research Associates
J. C. Bergin
Houston, Texas
J. P. Harbin
Dallas, Texas
E. H. Clark, Jr.
San Clemente, California
Gulf Coast
Scott Bender
President
Wood Group Pressure Control
Pat Bond
Vice President - Business Development,
Drilling Tools & Remedial
Schlumberger
Paul Butero
President - US Land Region
Baker Hughes Incorporated
John Carne
Executive Vice President, President -
Drilling & Production Systems
Drilling Systems
Cameron
Bill Coates
Vice President - Sales & Marketing
Schlumberger
T. Jay Collins
President & Chief Executive Officer
Oceaneering International, Inc.
Christopher E. Cragg
Senior Vice President - Operations
Oil States International, Inc.
Mark E. Crews
Vice President & General Manager
Oilfield Division
Lufkin Industries, Inc.
Charles S. Currie
Vice President - Marketing & Sales
Systems
Schlumberger
Chad C. Deaton
Chairman of the Board,
President & CEO
Baker Hughes Incorporated
Stephen M. Dillard
Vice President & GM - Oil & Gas
Business Unit
AmerCable Incorporated
Scott DuBois
President & Chief Operating Officer
Premier Pipe
31
Bryan Dudman
President
Smith Drilling & Evaluation
Smith International, Inc.
Brad Eastman
Associate General Counsel - Operations
Cameron
Jorge Goudet
President
Auge Industrial Fasteners
John T. Gremp
President & Chief Executive Officer
FMC Technologies, Inc.
Gary Halverson
President
Surface Systems
Cameron
Pat Herbert
Group Chief Executive Officer
JDR Cable Systems
Will Honeybourne
Managing Director
First Reserve Corporation
Charles E. Jones
President
Drilling & Subsea
Forum Energy Technologies
John Kennedy
President & Chief Executive Officer
Wilson
A Schlumberger Company
Michael Kowalski
President & Chief Executive Officer
Sunbelt Steel Texas
Christine McGee
Director - Marketing Services & Public
Relations
Weatherford International Ltd.
Neil J. Mendes
Senior Vice President -
Sales & Marketing
Greene, Tweed & Co.
M. A. (Pete) Miller, Jr.
President, Chairman & CEO
National Oilwell Varco
T. Duane Morgan
President
Engineered Products Group
Gardner Denver, Inc.
Daniel Newman
President
Norris Production Solutions
Douglas A. Polk
Vice President - Industry Affairs
Vallourec & Mannesmann USA Corporation
Dennis Proctor
Chief Executive Officer
Hunting PLC
Saeid Rahimian
Group President
Robbins & Myers, Inc. - Fluid
Management Group
Michael Read
President & Chief Executive Officer
Teledyne Oil & Gas
James B. Renfroe, Jr.
Chief Executive Officer & Group Director
Wood Group Well Support
J. Wayne Richards
President & Chief Executive Officer
Global Oilfield Services
Bruce Ross
Managing Partner
Dorado Energy Partners
Frank Smith
Vice President - Production Equipment
Valerus
Mike Stansberry
President & Chief Executive Officer
Global Energy Services, Inc.
Gary W. Stratulate
Chief Executive Officer
Axon Energy Products
Dave Warren
President & Chief Executive Officer
Energy Alloys
Jerry Winchester
President & Chief Executive Officer
Boots & Coots
A Halliburton Service
Joseph C. Winkler
Chairman & Chief Executive Officer
Complete Production Services, Inc.
Jim Wright
Senior Vice President,
President - Valves & Measurement
Valves & Measurement
Cameron
Mid-Continent
Bradford S. Baker
Chief Executive Officer
Chickasaw Distributors, Inc.
Paul M. Coppinger
Group President
Circor Energy Products, Inc.
Robert E. "Bob" Funk
Senior Vice President & Managing
Director
Harbison-Fischer, Inc.
Norris Production Solutions
Bob Greenwood
General Manager
Bestolife Corporation
Barry L. Pennypacker
President & Chief Executive Officer
Gardner Denver, Inc.
Jack Rogers
President
Ferguson-Beauregard
Norris Production Solutions
C. Richard Sivalls
President
Sivalls, Inc.
Bob Weber
Area Sales Team Leader
National Oilwell Varco
PESA Member Companies
32
A&B Valve and Piping Systems, LLC
Kevin Bernard
Chief Executive Officer
Houston, Texas
AmerCable Incorporated
Stephen M. Dillard
Vice President & GM - Oil & Gas
Business Unit
Houston, Texas
AmerCable Incorporated - Oil &
Gas Division
Stephen M. Dillard
Vice President & GM - Oil & Gas
Business Unit
Houston, Texas
Aries Freight Systems L.P.
Jeff L. McIntyre
President & Chief Executive Officer
Houston, Texas
Auge Industrial Fasteners
Jorge Goudet
President
Houston, Texas
Austin White Lime Company
Oscar Robinson
General Partner
Austin, Texas
Axon Energy Products
Colleen Henneke
President
Houston, Texas
Aztec Tubular Products
Rip Martin
General Manager
Crowley, Texas
Baker Hughes Incorporated
Paul Butero
President - US Land Region
Houston, Texas
Baker Hughes Completions and
Production
Neil Harrop
President
Houston, Texas
Baker Hughes Drilling and
Evaluation
Scott Schmidt
President
Houston, Texas
Baker Hughes Pressure Pumping
Lindsay Link
President – Pressure Pumping
Technology
Houston, Texas
Basic Energy Services
Mike Dye
Director of Financial Services
Midland, Texas
Bestolife Corporation
Bob Greenwood
General Manager
Dallas, Texas
Beta International Inc.
Bryan Leavitt
Chief Executive Officer
Houston, Texas
Boyden Global Executive Search
James N.J. (Jim) Hertlein
Managing Director
Houston, Texas
C&C Industries, Inc.
JoElla Bott
Vice President - Sales & Marketing
Houston, Texas
Force Energy Products
C&C Industries, Inc.
Jerry Brown
General Manager
Houston, Texas
Cameron
Jack B. Moore
President & Chief Executive Officer
Houston, Texas
Cameron
John Carne
Executive Vice President & Chief
Operating Officer
Houston, Texas
Cameron
Jim Wright
President - Valves & Measurement
Valves & Measurement
Houston, Texas
Cameron
Joe Mongrain
President - Process & Compression
Systems
Process & Compression Systems
Houston, Texas
Cameron
Owen Serjeant
President - Subsea Systems
Subsea Systems
Houston, Texas
Cameron
Gary Halverson
President - Surface Systems
Surface Systems
Houston, Texas
Cameron
Glen Chiasson
President - Drilling Systems
Drilling Systems
Houston, Texas
Capgemini
Randall A. Cozzens
Vice President
Irving, Texas
Carlson Capital LLC
James K. Wicklund
Principal
Dallas, Texas
Casedhole Solutions, Inc.
Don Gawick
President & Chief Executive Officer
Houston, Texas
Caterpillar Inc.
Wayne T. Zemke
Market Intelligence Manager - Marine
and Petroleum Power Division
Peoria, Illinois
Caterpillar Global Petroleum
Wayne T. Zemke
Market Intelligence Manager - Marine
and Petroleum Power Division
Houston, Texas
Chickasaw Distributors, Inc.
Bradford S. Baker
Chief Executive Officer
Houston, Texas
Circor Energy Products, Inc.
Paul M. Coppinger
Group President
Oklahoma City, Oklahoma
Cochrane Technologies, Inc.
Douglas A. Cochrane, Jr.
President & Chief Executive Officer
Lafayette, Louisiana
33
Complete Production Services, Inc.
Joseph C. Winkler
Chairman & Chief Executive Officer
Houston, Texas
Integrated Production Services, Inc.
Complete Production Services, Inc.
John Graham
Vice President Controller IPS US &
Mexico
Houston, Texas
Consolidated Pressure
Control, LLLP
Otto Windholz, Jr.
President & Chief Operating Officer
Houston, Texas
Control Risks
Eddie Everett
Senior Vice President - Global
Services
Houston, Texas
Decision Strategies
Chris Reinsvold
Chief Executive Officer
Houston, Texas
Decision Strategies
Steve Jacobs
Principal, Market Intelligence Group
Houston, Texas
Deutsche Bank
Sten Gustafson
Managing Director
Houston, Texas
Dorado Oil Services, LLC
David Douglas
President
Houston, Texas
Dupré Energy Services LLC
Cornelius Dupré
Chairman of the Board
Houston, Texas
Endeavor Management
Michael T. Shook
Managing Director - Oil and Gas
Houston, Texas
Energy Alloys
Dave Warren
President & Chief Executive Officer
Houston, Texas
Enventure GT
Nyla Shepherd
Accountant
Houston, Texas
FMC Technologies, Inc.
Peter D. Kinnear
Chairman of the Board
Houston, Texas
FMC Technologies, Inc.
John T. Gremp
President & Chief Executive Officer
Houston, Texas
FMC Technologies, Inc.
Robert L. Potter
Executive Vice President
Houston, Texas
First Reserve Corporation
Will Honeybourne
Managing Director
Houston, Texas
Flexitallic Group, Inc.
Jerry L. Lastovica
President & Chief Executive Officer
Kingwood, Texas
Forged Products, Inc.
Kevin Crowley
President & Chief Executive Officer
Houston, Texas
Forum Energy Technologies
C. Christopher Gaut
Chief Executive Officer
Houston, Texas
Forum Energy Technologies
Drilling & Subsea
Charles E. Jones
President
Houston, Texas
Forum Energy Technologies
Production & Infrastructure
Wendell Brooks
President
Houston, Texas
Forum Energy Technologies
Production & Infrastructure – Valve
Solutions
Steve Twellman
President
Stafford, Texas
Forum Energy Technologies
Valve Solutions - PBV USA
Maury Mills
Vice President - Sales & International
Sales
Stafford, Texas
GE Oil & Gas - Drilling &
Production
J. Wayne Wallace
Vice President - North America
Houston, Texas
GE Oil & Gas - Drilling Platform
Chuck Chauviere
Drilling Platform Leader
Houston, Texas
Gardner Denver, Inc.
Barry L. Pennypacker
President & Chief Executive Officer
Quincy, Illinois
Gardner Denver, Inc.
T. Duane Morgan
President
Engineered Products Group
Houston, Texas
Global Energy Services, Inc.
Mike Stansberry
President and Chief Executive Officer
Houston, Texas
Global Oilfield Services
J. Wayne Richards
President & Chief Executive Officer
Sugar Land, Texas
Global Tubing, LLC
C. Robert Bunch
Chairman of the Board & CEO
Dayton, Texas
Greene’s Energy Group, LLC
Robert P. Vilyus
Chief Executive Officer
Houston, Texas
Devin International, Inc.
Greene’s Energy Group, LLC
Robert P. Vilyus
Chief Executive Officer
Houston, Texas
Greene, Tweed & Co.
Neil J. Mendes
Senior Vice President - Sales &
Marketing
Houston, Texas
34
Gulf Publishing Company
John Royall
President & Chief Executive Officer
Houston, Texas
World Oil
Gulf Publishing Company
Ron Higgins
Publisher
Houston, Texas
GulfStar Group
Alan J. Blackburn
Managing Director
Houston, Texas
Halliburton
David J. Lesar
Chairman of the Board,
President & CEO
Houston, Texas
Hamilton Acquisitions, Inc.
Bruce Billeaud
Controller
Lafayette, Louisiana
Atlantis E&P Services, Inc.
Hamilton Acquisitions, Inc.
Bruce Billeaud
Controller
Lafayette, Louisiana
Hamilton Engineering, Inc.
Hamilton Acquisitions, Inc.
Bruce Billeaud
Controller
Lafayette, Louisiana
Petroleum Engineers, Inc.
Hamilton Acquisitions, Inc.
Bruce Billeaud
Controller
Lafayette, Louisiana
Hart Energy Publishing
Richard A. Eichler
President & Chief Executive Officer
Houston, Texas
Holland 1916
Jim Stradinger
Executive Vice President - Sales &
Marketing, Partner
North Kansas City, Missouri
Houston Plating & Coatings, LLC
William H. Howard, Jr.
Chairman of the Board & CEO
South Houston, Texas
Hunting PLC
Dennis Proctor
Chief Executive Officer
The Woodlands, Texas
Hunting Energy Services
Hunting PLC
Dennis Proctor
Chief Executive Officer
The Woodlands, Texas
National Coupling (Hunting Subsea)
Hunting PLC
Gary G. Weathers
President & Chief Executive Officer
Stafford, Texas
JDR Cable Systems
Pat Herbert
Group Chief Executive Officer
Houston, Texas
JW Williams
Steven Russom
President
Waller, Texas
John Crane Production Solutions
Jackie L. Thomas
Vice President - Global Sales
Sugar Land, Texas
Kem-Tron Technologies, Inc.
Michael Rai Anderson, PE
President
Stafford, Texas
Key Energy Services, Inc.
Dick Alario
Chairman of the Board,
President & CEO
Houston, Texas
Lone Star Fasteners, LP
Stephen Cabral
Vice President - Sales & Marketing
Spring, Texas
Lone Star Sealing Technologies
Lone Star Fasteners, LP
Richard Cowen
Department Manager
Spring, Texas
Lufkin Industries, Inc.
John F. (Jay) Glick
President & Chief Executive Officer
Lufkin, Texas
Lufkin Industries, Inc.
Mark E. Crews
Vice President & General Manager
Oilfield Division
Lufkin, Texas
Mamé USA, LLC
Jason Moore
President
Houston, Texas
Forgiatura Mamé
Andrea Mamé
President & CEO
Cividate Camuno - BS, Italy
mcaConnect
David Huether
Vice President - Energy Solutions
Humble, Texas
Minco Inc.
J.B. Cheatham
Production/Sales Manager
Conroe, Texas
Morgan Keegan & Company, Inc.
Michael Chevalier-White
Managing Director
Houston, Texas
Nabors Well Services Co.
Robby Nelson
Director - Business Development &
Marketing
Houston, Texas
Nabors Drilling USA, LP
Lauri McDonald
Director of Credit - Houston
Houston, Texas
Ryan Energy Technologies
USA, Inc.
Louis Baddock
Accounting Manager
Houston, Texas
Superior Well Services, Inc.
George McNinch
US Credit Manager
Indiana, Pennsylvania
National Oilwell Varco
M. A. (Pete) Miller, Jr.
President, Chairman & CEO
Houston, Texas
35
National Oilwell Varco
Robert R. Workman
Group President
Distribution Services
Houston, Texas
National Oilwell Varco
Jeremy Thigpen
Group President
Downhole Tools & Pumping Solutions
Houston, Texas
National Oilwell Varco
Joe McAnally
President - Coiled Tubing & Wireline
Group
Hydra Rig
Fort Worth, Texas
National Oilwell Varco
David Daniel
President
Quality Tubing
Houston, Texas
National Oilwell Varco
Haynes Smith
Group President
Services
Houston, Texas
Nedschroef Corporation
Jack Kulasa
President
Spring, Texas
Newpark Resources, Inc.
William D. Moss
Vice President - Strategy &
Development
The Woodlands, Texas
Newpark Drilling Fluids, LLC
Joe Gocke
Vice President - Finance & Planning
Houston, Texas
Newpark Environmental Services,
LLC
Jeff Juergens
President
Lafayette, Louisiana
Newpark Mats & Integrated
Services, LLC
Jeff Juergens
President
Lafayette, Louisiana
Norris Production Solutions
Daniel Newman
President
The Woodlands, Texas
C-Tech
Norris Production Solutions
Mark Widney
President & Managing Director
Edmonton, Alberta, Canada
Ferguson-Beauregard
Norris Production Solutions
Jack Rogers
President
Tyler, Texas
Harbison-Fischer, Inc.
Norris Production Solutions
Robert E. “Bob” Funk
Sr. Vice President and Managing Director
Crowley, Texas
Norris/AOT
Norris Production Solutions
Daryl Harrington
President & Managing Director
Tulsa, Oklahoma
Norriseal
Norris Production Solutions
Jack Lee
Sr. Vice President and Managing Director
Houston, Texas
OFS Portal LLC
William (Bill) Le Sage
Chief Executive Officer
Houston, Texas
Oceaneering International, Inc.
T. Jay Collins
President & Chief Executive Officer
Houston, Texas
Oil States International, Inc.
Christopher E. Cragg
Senior Vice President - Operations
Houston, Texas
Oil States Industries, Inc.
Oil States International, Inc.
Charles Moses
President
Arlington, Texas
Sooner Pipe, LLC
Oil States International, Inc.
John Shoaff
President
Houston, Texas
Omni Pipe Solutions
Gary B. Wade, Sr.
President & Chief Executive Officer
Houston, Texas
Oracle
Matt Pitner
Area Vice President - Energy
Houston, Texas
PRTM Management Consultants
Marc Waco
Director
Addison, Texas
PPHB
Raymond L. Brown, Jr.
Partner
Houston, Texas
PennWell / Oil & Gas Journal
Roy L. Markum
Vice President - Custom Publishing
Houston, Texas
Pioneer Drilling Company
Stacy Locke
President & Chief Executive Officer
San Antonio, Texas
Pioneer Production Services, Inc.
Joe Eustace
President
San Antonio, Texas
Pipeco Services
David Schott
President
Houston, Texas
Plains Marketing, L.P. - Trucking
Division
Mike McBride
Financial Services Director
Houston, Texas
Precision Drilling Company L.P.
Gene Stahl
President
Houston, Texas
36
Premier Pipe
Scott DuBois
President & Chief Operating Officer
Houston, Texas
RBC Capital Markets
Shauvik Kundagrami
Co-Head of U.S. Energy Investment
Banking
Houston, Texas
RPC, Inc.
Allyson Lyons
Credit Manager
Houma, Louisiana
Cudd Pressure Services
RPC, Inc.
Clint Walker
Executive Vice President
Atlanta, Georgia
Patterson Services, Inc.
RPC, Inc.
Jim Daniel
Vice President & General Manager
Houston, Texas
RYCO Energy Solutions, Inc.
Wolfgang H. Thoene
President
Houston, Texas
Raymond James & Associates, Inc.
Scott McNeill
Managing Director – Investment Banking
Dallas, Texas
Robbins & Myers, Inc. - Fluid
Management Group
Saeid Rahimian
Group President
Willis, Texas
R&M Energy Systems
A Robbins & Myers Company
Saeid Rahimian
Group President
Willis, Texas
T-3 Energy Services, Inc.
A Robbins & Myers Company
Saeid Rahimian
Group President
Willis, Texas
SCF Partners
Andrew L. Waite
Managing Director
Houston, Texas
Schlumberger
Bill Coates
Vice President - Sales & Marketing
Paris, France
GeoServices
A Schlumberger Company
Steve Kaufmann
President
Roissy, France
M-I SWACO
A Schlumberger Company
Steve Orr
President
Houston, Texas
Smith Bits
A Schlumberger Company
Guy Arrington
President, Bits & Advanced Technologies
Houston, Texas
Smith Services
A Schlumberger Company
Bryan Dudman
President, Drilling Tools and Remedial
Houston, Texas
WesternGeco
Carl Trowell
President
Gatwick, United Kingdom
Wilson
A Schlumberger Company
John Kennedy
President
Houston, Texas
Scientific Drilling International, Inc.
Gene Durocher
President & Chief Operating Officer
Houston, Texas
Scientific Drilling Controls
George Moir
Vice President
Dyce, Aberdeen, Scotland
Scientific Drilling International,
Inc.- Canada
Jeffry Wilson
General Manager
Calgary, Canada
Select Energy Services, LLC
Debbie Burgess
MSA/Insurance Administrator
Gainesville, Texas
Shores-Sentry LLC
Mark Burris
President
Wichita, Kansas
Simmons & Company International
Matt G. Pilon
Managing Director - Corporate Finance
Houston, Texas
Sivalls, Inc.
C. Richard Sivalls
President
Odessa, Texas
Spencer Stuart
Brad Farnsworth
Partner
Houston, Texas
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Salty’s Disposal Wells
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Stallion Offshore Quarters
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Stallion Oilfield Construction
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Stallion Production Services
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Stallion Rockies Ltd.
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
Stallion Solids Control
Stallion Oilfield Services Ltd.
Craig M. Johnson
Chief Executive Officer & President
Houston, Texas
37
Sumitomo Corporation of America
Takashi Naniwa
Product Manager
Houston, Texas
Sunbelt Steel Texas
Michael Kowalski
President & Chief Executive Officer
Houston, Texas
TETRA Technologies, Inc.
Geoffrey M. Hertel
President & Chief Executive Officer
The Woodlands, Texas
TIW Corporation
Steve Pearce
President
Houston, Texas
Teledyne Oil & Gas
Michael Read
President & Chief Executive Officer
Daytona Beach, Florida
Tenaris
Jon Barton
Director - Technical Sales, USA
Houston, Texas
Texas Steel Conversion, Inc.
Brian M. Binau
President
Houston, Texas
Tidewater Inc.
Dean E. Taylor
Chairman of the Board,
President & CEO
New Orleans, Louisiana
U. S. Steel Tubular Products
George H. Thompson
Vice President - Commercial
Pittsburgh, Pennsylvania
U. S. Steel Canada Tubular
Products - Calgary
George H. Thompson
Vice President - Commercial
Pittsburgh, Pennsylvania
U. S. Steel Tubular Products -
Houston
George H. Thompson
Vice President - Commercial
Pittsburgh, Pennsylvania
UBS Investment Bank
Leeds Eustis
Vice President - Investments /
Advisory & Brokerage Services
Houston, Texas
Utex Industries, Inc.
Stacey Buckingham
Administrative Assistant
Houston, Texas
Valerus
Frank Smith
Vice President - Production
Equipment
Houston, Texas
Vallourec & Mannesmann USA
Corporation
Douglas A. Polk
Vice President - Industry Affairs
Houston, Texas
V&M Star
Vallourec & Mannesmann USA
Corporation
Ronny Clark
Sr. Vice President - Sales
Houston, Texas
V&M Tube Alloy
Vallourec & Mannesmann USA
Corporation
Grady Harrison
President
Houston, Texas
VAM Drilling
Vallourec & Mannesmann USA
Corporation
Kevin Parks
Vice President Sales - Americas
Houston, Texas
VAM USA
Vallourec & Mannesmann USA
Corporation
Ron Curtice
Vice President - Sales
Houston, Texas
Vortex Ventures, Inc.
Dalton Thomas
President & Chief Executive Officer
Houston, Texas
Weatherford International Ltd.
Bernard J. Duroc-Danner
Chairman of the Board,
President & CEO
Houston, Texas
Weir SPM
Gavin Nicol
President
Fort Worth, Texas
Wells Fargo Energy Group
Bret C. West
Executive Vice President
Houston, Texas
Wheatland Tube Co. - Energy
Products Group
Geoffrey O’Donnell
National Sales Director
Houston, Texas
Wood Group Pressure Control
Scott Bender
President
Houston, Texas
Wood Group ESP, Inc.
Brian Sevin
Vice President - North American
Operations
Houston, Texas
Wood Group Logging Services, Inc.
John Paul Jones
President
Houston, Texas
Past PESA Chairmen
38
1933-1934
W. L. Childs
Reed Roller Bit Company
1934-1935
J. A. Crawford
Republic Supply Co. of California
1935-1936
J. A. Geismar
National Supply Company
1936-1937
W. J. Morris
Continental Supply Company
1937-1938
John M. Crawford
Parkersburg Rig & Reel Company
1938-1939
J. L. Shakely
Jones & Laughlin Supply Company
1939-1940
E. S. Dulin
Byron Jackson Company
1940-1941
E. W. Gildart
Norvell Wilder Supply Company
1941-1942
Earl W. Miller
American Iron & Machine Works
1942-1943
F. F. Murray
Oilwell Division - US Steel Corporation
1943-1945
Fred J. Sprang
Sprang & Company
1945-1947
Hugh Glen
Emsco Derrick & Equipment Company
1947-1948
Ardon B. Judd
Republic Supply Company
1948-1949
A. W. McKinney
National Supply Company
1949-1950
Guy A. Thompson
Bethlehem Supply Division
1950-1951
Ted Sutter
Baker Oil Tools, Inc.
1951-1952
F. M. Mayer
Continental Supply Company
1952-1953
Mason B. Jones
S. M. Jones Company
1953-1954
D. D. Bovaird
Bovaird Supply Company
1954-1955
Rodney Durkee
Lane-Wells
1955-1956
M. E. Montrose
Hughes Tool Company
1956-1957
Rainey Elliott
Jones & Laughlin Supply Company
1957-1958
Grover Kilgore
Halliburton Company
1958-1959
W. J. Powell
Continental Emsco Company
1959-1960
W. O. Wilson
Wilson Supply Company
1960-1961
E. A. Johnson
Schlumberger Well Services
1961-1962
W. H. Larkin
Larkin Packer Company
1962-1963
W. J. McWilliams
Republic Supply Company
1963-1964
H. H. Peters
Technical Oil Tool Company
1964-1965
A. W. Rose
Byron Jackson Pump Division
1965-1966
M. F. Hazel
Oilwell Division, US Steel Corporation
1966-1967
A. C. Polk
Dowell Division, Dow Chemical Co.
1967-1968
W. J. Bovaird
Bovaird Supply Company
1968-1969
P. L. Myers
Hughes Tool Company
1969-1970
John B. Meritt
Byron Jackson Pump Division
1970-1971
R. C. Rieder
Continental Emsco Company
1971-1972
B. R. McNulty
Dia-Log Company
1972-1973
R. E. Etnyre
Machinery & Equipment Division - Armco
1973-1974
E. H. Clark, Jr.
Baker Oil Tools, Inc.
1974-1975
J. P. Harbin
Halliburton Company
1975-1976
J. C. Bergin
Republic Supply Company
1976-1977
George A. Helland, Jr.
Weatherford International, Inc.
1977-1978
E. J. Hagstette
Camco, Inc.
1978-1979
J. E. Chenault
Oilwell Division - US Steel Corporation
1979-1980
James R. Lesch
Hughes Tool Company
39
1980-1981
Ralph W. Noble
Milchem, Inc.
1981-1982
W.C. Walker
Mid-Continent Supply Company
1982-1983
J. W. Neely
Smith International, Inc.
1983-1984
Lee A. Drake
Continental Emsco Company
1984-1985
T. H. Cruikshank
Halliburton Company
1985-1986
E. C. Broun, Jr.
Baker Hughes Incorporated
1986-1987
Philip Burguieres
Cameron Iron Works, Inc.
1987-1988
W. E. Bradford
Dresser-Rand Company
1988-1989
Robert H. Smith
National-Oilwell
1989-1990
James D. Woods
Baker Hughes Incorporated
1990-1991
Gary D. Nicholson
LTV Energy Products Company
1991-1992
Gilbert H. Tausch
Camco International, Inc.
1992-1993
Dale P. Jones
Halliburton Company
1993-1994
Jack Murphy
Dresser Industries, Inc.
1994-1995
Joseph H. Netherland
FMC Corporation
1995-1996
Russell E. Ginn
The Flexitallic Group, Inc.
1996-1997
Max L. Lukens
Baker Hughes Incorporated
1997-1998
James L. Bryan
Dresser Industries, Inc.
1998-1999
Doug Rock
Smith International
1999-2000
Zeke Zeringue
Input/Output, Inc.
1999-2000
Peter D. Kinnear
FMC Technologies, Inc.
2000-2001
Rhys J. Best
Lone Star Technologies, Inc.
2001-2002
Loren K. Carroll
M-I L.L.C.
2002-2003
Sheldon R. Erikson
Cameron
2003-2004
George I. Boyadjieff
Varco International, Inc.
2004-2005
L. Craig Ketchum
Red Man Pipe & Supply Company
2005-2006
Robert L. Potter
FMC Technologies, Inc.
2006-2007
Jack B. Moore
Cameron
2007-2008
Galen Cobb
Halliburton
2008-2009
David Barr
Baker Hughes Incorporated
2009-2010
Robert Workman
National Oilwell Varco
Anti-Trust Statement
The objectives and activities of the Association shall at all
times comply with the applicable laws of the United States
of America, its states and local jurisdictions. This
compliance shall include strict adherence to the
requirements of all antitrust laws including the Sherman
Act, the Clayton Act, and the Federal Trade Commission
Act as currently enacted. All members and their
representatives are responsible for adhering to these
requirements and avoiding even the appearance of
impropriety in the way their activities are conducted.
In order to effectuate the foregoing policy, PESA
established guidelines for the conduct of its members
during conferences, meetings, and conventions which shall
be strictly adhered to by each member and their
representatives. If questions arise as to whether a
proposed course of conduct complies with the law and this
policy, guidance shall be sought from the Chairman,
President, or Corporate Counsel Committee of PESA.
Approved by the PESA Board of Directors
April 22, 1988