Thought Leadership in Oil & Gas

Thought Leadership in Oil & Gas

Endeavor Management leaders provided their expertise for the Reuters Future of Oil & Gas conference in December.  Bruce Crager’s presentation was outlined in a prior Newsletter. In this edition we look at contributions from Endeavor’s Ed Hirs, Jim Osborn, and Gene Beck.

Ed Hirs: Executive Advisor, Endeavor Management

Ed was a panelist to provide his input on the topic of Supporting Measures and Policies for Oil Industries.  The panel addressed the issue of governments and their intervention in oil & gas.  More specifically, Mr. Hirs offered his insight on:

• Impact of US rejoining the Paris Agreement
• Given the US is already a renewable energy leader (Texas has > 30 GW of wind generation capacity … more than most countries total from all sources), what are the prospects for the US in renewables going forward
• Prospects for the Biden Administration pushing forward with a carbon tax
• Impact if the US were to implement a fracking ban or import restrictions

For a more in-depth discussion, follow the link to a Forbes Article written by Ed in the January issue of Forbes magazine.

Jim Osborn: Subsea Team Lead, Endeavor Management

Jim interviewed Geraldine Slattery, President of BHP Petroleum and the discussion focused on climate change.  Some of the high points from Ms. Slattery’s interview:

• BHP aim to reduce emissions 30% by 2030 from a 2020 baseline
• BHP intend to reach net zero in operational emissions by 2050
• A sample of enablers to reach these goals include:
  • Decarbonize BHP’s electricity supplies
  • Decarbonize BHP’s truck fleet by replacing ICE (Internal Combustion Engines) with electric propulsion
  • Reduce emissions from chartered vessels 40% by 2030 through selection of lower emission vessels.

For a more in depth read, visit Sustainability and Climate Change on BHP’s website at:  Sustainability and Climate Change on BHP’s website

Gene Beck: Onshore Team Lead, Endeavor Management

Gene interviewed Scott Sheffield, CEO of Pioneer Natural Resources.  Their discussion focused on evolution of the shale industry through COVID-19.  Some of the high points from Mr. Sheffield’s interview:

• Operations now incorporate routine COVID testing
• Field offices are back to 25% occupancy
• Investors have a laser like focus on capital discipline and cash flow back to investors
• Digitalization permeates most field operations, with information and decisions happening real time.  Many office operations are now digital as well.
• At or above $45/per barrel for Brent crude, Pioneer expect to deliver 5% topline growth and dividends.

For more in depth read on Pioneer, visit their website at:  https://www.pxd.com/