SPE PB 34th Annual Golf Tournament: Sep 5, 2025 Save The Date!
CHAIRMAN’S CORNER
Dear SPE Members,
Tyler Yancey
Petroleum
Engineer
ExxonMobil
SPE-PB Chairman 2024-2025
It is the Month of May, and our 2024-2025 term is ending. I find myself reflec ng on the incredible journey we’ve shared over the past term it’s been a true honor to serve in the role as Chairman of the Board of Directors - SPE Permian Basin. If there is one phrase that perfectly captures how I feel- it’s this: I Love It!
We’ve accomplished so much together this past term. We’ve commi ed $200,000 in scholarships and STEM dona ons back to the community to support the next genera on of leaders. This is with the support of our members, sponsors and SPEI, and I love it!
We’ve grown, adapted and pushed boundaries, not just for the sake of progress, but because we believe in the power of this community, fostering collabora on, innova on and growth. We believe SPE values are at the core of building your career and making a las ng impact for you to thrive, and I Love It!
Every year the SPE Permian Basin has two goals in mind. Disseminate technical knowledge, then disseminate dollars back into the community. For SPE Permian Basin, this year we took the Deion Sanders approach. “Master the 3 W’s. You got to want it, you got work it, then you got to Win it.”
Repeatedly our mindset to winning is asking not what SPE can do for me, but What can I do for SPE. Servant Leadership. I am so thankful to the powerful team we had this year to accomplish these goals and follow through with our commitments. That’s how you master the 3 W’s.
CHAIRMAN’S CORNER
We approved an exci ng, dynamic team of new board members who will carry the torch forward. Ryan Smith, who currently serves as our Newsle er Chair and works for Chevron will be stepping up to take on the role of Chairman. Ryan is a dynamic leader with lots of experience serving on the Board. His reliability, communica on, and deep commitment to the SPE mission have made a las ng impact on the team and his wealth of experience will guide us into an exci ng new chapter. The Permian Basin Chapter is in good hands!
Thank you again fellow SPE Permian Basin Sec on Members for all that you do. I want you to con nue your journey to saying yes to Mastering the 3 W’s. Say yes, go out everyday to chase your goals. Ask yourself how bad do you want it? I learned this from Jim Rohn. Ask yourself why? Why work this hard? Followed by Why not? Why not see how much you can learn, Why not see how much you can earn? And most of all, why not now? There has never been a be er me, and I love it!
Thank you,
Chairman of the Board of Directors
Earth Day Community Clean-up Volunteer Event
April 22nd, 2025
Thank you!!
SPE Scholarships Awarded 2025-2026 School Year
Name School
Agnes Sjursaether University of Texas Permian Basin Sco Hickman Presiden al Scholarship
Heaven Miles University of Texas Permian Basin Libby Einhorn Scholarship
Delaney Saunders
Declan O’Rourke
Priscila Almeida
Texas Tech University Stephen Melzer Scholarship
Texas Tech University Arlen Edgar Presiden al Scholarship
Texas Tech University Hoxie Smith Memorial Scholarship
Daisy Por llo University of Texas Permian Basin Ed Runyan Presiden al Scholarship
Katherine Hale
Drew Wiggins
Hunter Hamilton
Abir Kebir
Texas A&M University Richard Pren ce Memorial Scholarship
Texas Tech University
General
Texas Tech University General
Texas Tech University General
Leila Kipungo University of Texas Permian Basin General
Caiden Corgill
Texas Tech University General
Josh Salcedo University of Texas Permian Basin General
Bassel Eissa
Estrella Moreno
Texas Tech University General
Texas Tech University General
Benjamin Pa erson University of Texas Permian Basin General
Neeharika Madankar University of Texas Permian Basin General
Davian Pena
Hyojeong Seo
Texas Tech University General
Texas Tech University General
Alexandar Cuellar University of Texas Permian Basin General
U.S. Lower 48 operators have undergone a seismic shi in their approach to oil price vola lity since 2008. Each successive downturn has served as a crucible, forging a more resilient and efficient industry. The transforma on from a growth-centric model to one priori zing capital discipline and shareholder returns has been profound. The 2018-2019 downturn accelerated the transi on to maintenance mode, while the 2020 crash catalyzed digital transforma on and low-carbon strategies. Industry consolida on gained momentum, and reinvestment rates declined as operators priorized free cash flow maximiza on.
Crude oil prices dropped below US$60/bbl in April 2025 for the first me since 2021, as concerns grow about weakening oil demand following the Trump Administra on’s tariff policies and planned May supply increases from OPEC+. However, this me, we expect a slightly muted response from operators; at least for the first few months.
For context, Lower 48 oil produc on averaged 11.01 million barrels per day (b/d) in 2024. Our base case forecast, published before the "Libera on Day" event, projected an increase of 310,000 b/d in 2025 and a further 260,000 b/d in 2026, with the Permian Basin spearheading this growth. However, recent market vola lity has introduced significant uncertainty into these projec ons. Any produc on impact would likely be delayed, manifes ng in late Q3 to early Q4 2025 due to the typical six to nine-month lag between ac vity adjustments and changes in output. Our preliminary assessment in mid-April 2025 an cipates a modest downward revision to 2025 volumes and a year-on-year decline in produc on for 2026. Should oil prices further deteriorate toward $50/bbl, it could trigger substan al disrup on in the industry. This scenario leads to a more severe decline in produc on by late 2025 and results in 2026 U.S. supply falling nearly 1 million b/d below our current outlook.
Lower 48 supply outlook
M 2025-I 240
Test Your Professional Petroleum Engineering Knowledge!!
Ques on from “Petroleum Engineering PE Licensure Examina on Prac ce Ques on Bank” by Olumayowa O. Famodimu, SPEC, P.E.
Ques on (70): Check all that is/are false about Coal Bed Methane (CBM) reservoirs.
______Face cleats are capable of draining smaller areas while bu cleats are capable of draining larger areas.
______Data required to es mate OGIP and perform forecast calcula ons come mainly from canister desorp on & proximate tests.
______CBM reservoirs are almost o en single porosity systems.
______CBM reservoirs are naturally fractured.
Difficulty Level: Medium
NCEES Topic/Sub-topic: Produc on / Comple on / Produc on of unconven onal reservoirs
Comment: The 1st & 3rd statements are false. Face cleats are capable of draining larger areas while bu cleats are capable of draining smaller areas. CBM reservoirs are more o en than not dual porosity systems, consis ng of micropores (extremely low permeability) and macropores that drain into the natural fracture system and provide the main drainage / permeability path for fluid flow. CBM reservoirs are naturally fractured & characterized by a dual porosity system.
Answer & Reference(s): Page 3/217 – 3/218. Advanced Reservoir Engineering, Tarek Ahmed and Paul D. Mckinney. (2005)
Ques on (65): The least accurate method used in calcula ng well trajectory in direc onal drilling is the?
