Stories like these keep our community vibrant. Share a story today.
Following on to 2015, our events in 2016 continue to draw increased participation, paying tribute to the lasting relationships that were formed at ARCO, both professionally and personally. At Pappadeaux in North Dallas, the crowd of almost 100 included domestic and international, Exploration, Operations, IT, Finance, Accounting, Audit, Research and Facilities coming together for a night of great fun.
There was many a surprised look as someone recognized a friend or former colleague, and we are grateful to our sponsors: Advancial, Contek Solutions and Noble EnergyCathy Clonts, President AWS
Dallas has a number of former ARCO employees running their own businesses, many with a cohort of other former ARCO employees. Jamie Robertson, Salt Creek Petroleum, brought along business partner and Matador Oil board member David Nicklin. David lives in California and was in Dallas for business.
Others with interesting jobs include Hoyt Taylor II who is the Transportation Fiscal Operations Supervisor for the North Central Texas Council of Governments, the second largest Metropolitan Planning Organization in the U.S. Hoys helps develop and make regular financial reports on two major transportation construction initiatives, the Regional Toll Revenue funded highway development projects and the Clean Air program AirCheck Texas.
Larry May who works at Dell has the distinction of being one of several former ARCO employees still working in what was the ARCO Plano campus on Plano Parkway.
Also in town was Ken Thompson who encouraged Phoebe Wood, former ARCO Finance VP, to attend the happy hour prior to both participating in Pioneer Natural Resources board meeting. In attendance from Pioneer were Mike Camara, James Meier and Steve Sinclair, Senior staff geologist.
Jere Jay, founder and CEO of INNEX has a number of former ARCO employees working for him. Those at the happy hour included Heiko Muller and Larry Morse. James Doyle worked for INNEX, but is now retired. While at ARCO, James worked in Anchorage, Lafayette, China, L.A., Plano, Indonesia and back to Plano in both Exploration and Production sides of the business.
Steve Sills and Doug Trumbauer are both at Kosmos where new opportunities and sound investments mean the company has so far made no reductions in headcount.
The Exploration group which included Bob McDonald, Chevron, Jim Johnstone, Contek Solutions, Barry Davis, Petrotel, Cliff Pratt, and Heiko Mueller, INNEXPictured below, Pappadeaux, February 2016
New faces at the happy hour included Debra Tedder, Jocelyn Spellman, Jack Brooks, Raju Checka who was a geophysicist at ARCO for many years, Misty Jefferson who was in health and safety at ARCO and is now at RPS, and NJ Tripode. Steve Suellentrop and Martin Wouch, Hunt Oil drove North from downtown. Ian Hogg is living in Dallas and looking for a new opportunity after many years in Singapore. Robert Barney lives in Houston and came to the happy hour with his wife Debra. Bob McDonald who lives in Mandeville, Louisiana where he works for Chevron was also in town.
Cindy Thomas, one of many at the happy hour who were in finance at ARCO, has a new job at SandDollar Financial. Her husband shared that he and Cindy met when another ARCO employee introduced them. "We were both in finance, but the team was so large we might not have met otherwise," said Joe, who is at Contek with Jim Johnstone and Mike Spangler.
Other ARCO couples included Larry and Jackie Asbury, Kevin and Lucy Brosi who met when Kevin was working for ARCO China and Lucy was in the HR department. Kevin is at Cisco Systems and shares that he has run more than 365 marathons. Other couples who met or worked together at ARCO included Diane and Mike Camara, Barry and Cathy Davis, Michael Nanney and Suzanne O’Malley, Ken Kawakami and Vicki Winans; Katie and Mike Spangler, Cynthia and Joe Thomas; and of course Pat Thompson worked with many an ARCO new hire during their Super School program. Pat was looking forward to visiting their daughter and family.
While Randy Mills did not meet his wife Susie at ARCO she said ARCO has a warm place in her heart as they met at a bar one night when Randy was at an ARCO happy hour celebrating a promotion. Randy said he was on the lookout for a wife as his next assignment in Wyoming would be lonely otherwise. As it turned out, the couple stayed in Dallas and Randy moved into natural gas marketing. They have been married for 25 years and Randy is Chief Operations Officer at Netcare Now.
The happy hour drinks, coconut shrimp, and other appetizers were a huge hit as people enjoyed the evening. Carolyn Hale’s Inflated By Design balloon decorations added to the festive atmosphere and we are appreciative for her help in making this event the success it was. The inflatable ARCO letters and white and gold balloons provided the backdrop for a number of pictures.
To view the photos, after logging in to the community see who attended in the photo album.
Advancial is dedicated to providing help and resources to members in need of financial assistance. For more than 35 years, many ARCO alumni have counted on Advancial for financial solutions.
The Skip-a-Payment Program and Loan Extensions help if you are in financial difficulty, and apply to the following criteria:
Additionally, the below types of loans are not applicable for the Skip-a-Payment program:
Please contact your local branch Advancial branch and speak to a representative about how Advancial can help you today.
Contek was awarded a project by the Center for Chemical Process Safety (CCPS) to write a book on the application of Process Safety concepts and application of the 20 elements of risk based process safety in the Upstream and Shale industry. The scope covers onshore and offshore in addition to some drilling and well construction applications.
This project, which will be published in early 2017, will be a joint CCPS and SPE supported effort.
Contek Solutions is an engineering, safety, environmental and training professional consulting firm. Visit their website for more information.
Anthony Marino, President and COO of Vermilion Energy and an ARCO alumnus will be named the company's CEO in March when current CEO Lorenzo Donadeo steps down.
Marino was interviewed on Bloomberg News Wednesday January 6, 2016 where he talked about commodity markets, acquisitions, and Vermilion’s continued commitment to its shareholders.
Where is the world oil price likely to bottom out? We assume the strip will prevail and we will manage the company on that basisAnthony Marino, President and COO of Vermilion Energy
Called the “darling of the industry” by the interviewer, Vermilion is feeling comfortable with what they believe is a well planned and well executed business mix. Said Marino, “We still have a great deal of growth, but all told the company is down. We have not changed our production profile very much. Per share growth has continued.” This year will see continued cutting of exploration and development, with Canada having the biggest cuts. This year will see Canada getting a quarter of the overall E&D investment compared to 50% a couple of years ago. The company has reduced its global budget, and over the long term, depending upon the commodity market, Vermilion might have value adding acquisitions if “we can find those in the market”, said Marino.
“We plan to maintain the current dividend. We designed our budget so that we could fund our E&D investments and our cash dividends for 2016. We would further reduce capex before reducing the dividend. We have a strong balance sheet particularly relative to the rest of the industry in today’s environment,” said Marino. Vermilion has paid out more than 2.3 billion in dividends over the thirteen years they have paid dividends.
Asked where is the world oil price likely to bottom out, Marino replied: “We don’t know so we are managing for the commodity strip. Vermilion is taking the conservative approach; we assume the strip will prevail and we will manage the company on that basis."
Efficiencies and performance were key attributes for third quarter results that exceeded internal forecasts. SM Energy Company announced its financial results for the third quarter of 2015. Said President and Chief Executive Officer Jay Ottoson: “I am pleased to report another excellent quarter with production and EBITDAX that exceeded our internal forecasts. Third quarter production was up sequentially from the second quarter (adjusted for assets sold in the second quarter) and up 22% compared with the third quarter last year.
SM Energy reports positive test results that translated into higher than forecast production.Jay Ottoson, SM Energy
“Operational execution continued to drive our outperformance. We are working hard to reduce costs and apply technology effectively on a number of fronts. We are reducing drilling times, optimizing completions and generating better well results in our core development programs…At the same time, we have been conducting several pilot tests in high productivity areas of the Eagle Ford and Bakken/Three Forks. Test results to date have been positive and have translated into higher than forecast production,” shared Ottoson in the company presentation to investors.
Looking into 2016, SM Energy plans to focus on programs that generate the best returns. The company expects to allocate an increased portion of capital to the Permian and Williston Basins. “Fundamental to the 2016 operating plan will be aligning capital spending with estimated EBITDAX to optimize cash flow and inventory expansion, resulting in differential value creation in 2016," said Ottoson.
Source: SM Energy website.