Permian Strategic Partnership on Permian Perspective PP041

Automatic TRANSCRIPT

the Permian Basin is an abundant oil and gas producing area already one of the world's leading oil producing regions the area in West Texas and southeastern New Mexico could nearly double crude oil production by the year. Twenty twenty three but who are the leaders behind this economic powerhouse and what is their story. This is permian perspective. I'm your host Krista. As skinny today show is sponsored by Baker Hughes who recently launched a new and reimagined Baker Hughes brand as an energy technology company they strive to make energy safer cleaner and more efficient for people and the planet. Hello everyone welcome to this week's episode of Permian Perspective. I'm sitting here today in Midland Texas with Tracy Bentley. The C. E. O. of Permian Strategic Partnership Tracy. Thanks so much for being here. Thank you so much for having me back. I know I'm so excited can't believe it's been a year since we visited a lot has happened. I'll your hottest happened. Oh what a difference a year makes and just so so. Everyone knows the date of today's recording. It is March nineteenth twenty twenty and as many of you know we are going through a pandemic and a lot of changes due to the cove in nineteen and as you mentioned a lot of changes in the past year. So we'll we'll get to that in a minute. I WANNA think you've of course for being here and I wanNA thank our listeners for joining us. You left such kind comments on a not only on facebook but also through itunes leaving those five star reviews so thank you so much. We really appreciate you for sharing those kind words and also for sharing our podcast with friends and family and colleagues we now have listeners all over the world and of course right here in the Permian Basin and I appreciate each and every one of you so feel free to leave review stop by and send me an email go to permian perspective dot Com however you wanNA connect. I'd love to connect with all of you so tracy thanks again for being here. The Wo- so much has happened. The cove nineteen pandemic has created a new reality for daily activities around the world. In in the United States. There are efforts that are underway to encourage social distancing and self quarantining. They're becoming more common will with the twenty. Twenty census efforts in full swing and in-person follow up visits pending. It will be imperative to encourage census participation over the phone or online which is available for the first time in this year's count. Tell us a little bit about your partnership with p. s. p. and the census education campaign which is called. The Permian counts. Thank you because I can't think of another region in the entire country that has more to gain from an accurate census. Count as we all know who live here. We know that due to our growth we have a lot of challenges that come along with that and that is by way of of housing and healthcare and Roads Education Workforce Development. All the things that the PSE works on but one of the. We feel like one of the priorities needs to be on making sure that every person in the Permian if you live here if you're here fifty percent or more of the time you need to be counted here because that is directly linked to federal resources. That should absolutely come to the Permian. If we all agree that being counted needs to be a priority otherwise the resources that are designated for right here are going to go elsewhere to the places that were counted in so all we have to do is make our individual responsibility to go online and be counted. And we'll see resources. Potentially that our region is never seen before so in the past. I if I remember this correctly we would get packet in the mail. We would fill out a little questionnaire. Send it back and then maybe someone would come to our door and follow up. Bright is that how the process was in the past but is now changing. You're exactly right. That's how it's been done for years and years this year. It's changed to technology and people like the convenience of filling it out online. You can do it directly from your cell phone your ipad your computer but then you add the corona virus on top of it and so much of that door to door and reminding and encouraging people educating them face to face is not going to happen or at least certainly suspended and so now. It's really a comment on all of us as individuals to take the time to educate ourselves into go online and do it ourselves and just make it a priority. So what is the fastest way to do this and easiest because will be honest? A lot of us are staying home now a lot more and with governor Abbot just announcing today. That going into effect tomorrow night. Bars and restaurants will be closed indoor dining and also you can't be in a group of ten or more people. We're going to be home a lot more. How can they do this with this time? Absolutely so a couple of resources for you if you go to the Permian counts dot com. We've got economic studies that will show people just the importance of getting an accurate count and honestly ramifications of if we don't what we're GONNA lose out on so those numbers are really compelling and important for us a number two. We list out all the resources in helpful tips on how to fill it out. It's actually very very easy but I know if you've never done it before. New things can be intimidating and so our website will help guide you to resources. That will help walk you through that. Of course you can always visit the. Us Census Bureau and then it will take you directly to the form that you can fill out. It takes higher on average about a minute minute half thought so it's really simple and easy to do in the past once again. I don't know what the numbers are. But what was your turnout like? Did you get a good response from people that did the male inversion versus? Now this new technology sure so nationwide. We had an average of about a two percent undercount. If you went last year which doesn't sound too bad at all right but let me just does some numbers at you. So a two percent undercount. This year would result in a regional loss on the Permian Basin of one point one billion dollars in gross product. That's about one hundred and twelve million dollars a year as well as about thirteen thousand jobs all because we didn't fill out a form that takes a minute and a half to be counted and that's a two percent undercount now we know it's even more challenging because of the state of things and what's going on here and also the Permian Basin is very. It's much more ruling nature as we know and so access to things like the Internet can't be taken for granted here in every place so I feel like we're even more challenging if you get a good count and that's why making it a priority. I'm hoping that we can reduce that. Two percent undercount one percent or let's go one hundred percent would be great but those are numbers just to give you an example of a two percent. Undercount do you feel or are you worried that the state of oil and gas right now will affect that count and affect people because of the worried. Miss that is going on in their daily life from getting them on there. I do think that that's going to provide an extra challenge again. That most of the country's not gonNA face and it right here in the heart of the Permian. We'RE GONNA face it more than anybody. Along those lines are. Rotational Workforce Causes Challenges. That don't exist anywhere else. And I think it's so important for people to understand that if you spend fifty percent of your time here you need to fill out the census here. There's some misinformation or I think some folks think that well my family may live in a different city different part of Texas. Maybe even another state and so that's where I'm GONNA fill up my senses. Well the guidelines say it's where you spent fifty percent of your time and so getting people to understand what they call home for the census. Maybe they're counting something different. So those of our friends out there. That have a lake house in San Graham Berry. Or maybe you're at Lake Travis. But you're here more. Please fill out the census here because you are here. More than fifty percent of the time does he's the right and that's where they want the resources to be dedicated towards him. What I've been telling people is if you don't know if you're on the fence when in doubt fill it out and the US Census Bureau will figure out where where you should be counted most the time but if you have any doubt go ahead and fill it out. That's a good idea and of course we will put the Permian counts website in our show notes for you. Go to after this podcast. If you say hey we need to go to that website and check it out and go fill this out now that that would be great so we will definitely put that in your show notes once again. I'm speaking to. Ceo Tracy Bentley of Permian Strategic Partnership. And we're talking about the importance of filling out the census because this really is such a timely really timely matter that we need everybody to do right now so that we can get an accurate count and as you mentioned. Get that funding. That's right I feel like now more than ever. There's it's never been more important for us to get this count. We already know that because of the Challenging Economic Times that we're going to need more more resources and we may see those via stimulus package going from the federal government but these resources that were talking about via the census are long lasting sustainable permanent. If you will resources aren't gonNA come and go. And so they're going to provide basic stability and honestly services for public safety. Our veterans our seniors healthcare education housing. All of that that we so desperately need. Thank you Tracy. I know that you are deep in the heart of what's going on right now in listening and learning and reading everything that you can. What is the state of oil and gas in what you've been reading in? How are we going to get helped by the federal government? Have you read anything today? That maybe we could give us new information on. I haven't I'm well aware like everybody else that those conversations are happening in Washington. Dc and federal governments reaching out to states to find ways. That can be helpful. What I can tell you is that even in the downturn an this interesting economic time the Permian Basin is still the preferred place for energy production. And there's no doubt we are feeling it and we're going to feel it but long-term the permian will remain productive. And we'RE NOT GONNA see folks pick up and move and leave it baron if you will. I think we're GONNA continue to see production even during this downturn. I know many of our listeners watched the oil prices up and down a Banana. I know I do too. I'm right there with you. Got a little bit of good news. Today it went back up to twenty five and we hope you see more green. Arrow's what advice would you give to those living here in the Permian beyond because we have listeners really tied to oil and gas all over the world to really keep their spirits up about what is happening here because you and I both know that? Permian Basin are resilient. We are Permian strong. We're going to keep on truckin. We're we're not. We're not GONNA give up. So what advice would you give nets in what you just described? Chris as one of the many reasons why I absolutely love living here and I feel like it's been my home for much longer than actually has but what I would tell folks is. Yeah it we're going to feel it and we're going to hurt it but it's GonNa hurt a little bit but we're going to remain for the long haul end so hang in there and know that this industry is going again to continue to produce probably not to the degree that we have in fact we know we're not going to so we're GONNA wait it out and keep producing even at twenty dollars a barrel and oil until conditions improve. And then we'll wrap up again but we're not going to. We're not going to leave right. And that's the thing I mean. We're we're all here. We're going to all stick it out together and I always say this too shall pass and we will be here together to continue to work on those issues that I know the Permian strategic partnership is so strong about and for those of you that maybe didn't listen to our our previous podcast and we talked about the road issues. The roads still need help right. I mean the roads are still we? We are still busy on the roads. We still have potholes on the roads. We still have people that are dealing with some of those same issues. It may seem like it's on a smaller need right now but it's still there. You're exactly right. The premium strategic partnership is comprised of twenty of the largest producing companies in the country. But certainly in the Permian Basin and the fact that they said now more than ever the Permian Basin needs leadership and efforts to continue to work on the things that you just described just because we're in an economic downturn or hard times doesn't mean that we can't we need to still work on things like access to healthcare that's now again probably more important than ever our roads needs to see. Improvement are education all those things and so the premium strategic partnership is not. GonNa Pause on our work. We're going to continue to fund initiatives working with the community and partnership right through this. So we're going to be here. Let's talk about some great initiatives and the great work you've done in the past year because I know there has been so much that Ha- we've really seen a lot of the oil companies just really pouring their heart and soul into this community. Yeah last year was our first full year up and running and we spent over thirty million dollars. On six initiatives and initiatives that we fund are really go to the critical needs to areas that we just spoke about and so we were one of many funders in the idea public charter schools. That are coming to Midland Odessa. Were thrilled about that. We also hear very recently announced a partnership with Texas Tech and hospitals across the base including southeastern Mexico and certainly here in West Texas where we are funding more DR residencies because we know that attracting and retaining new doctors the area is challenging and it is due to the other things. It's all cyclical affordable. Housing is an issue and road safety and all those things so really pouring resources and thought into recruiting and retaining encouraging them to stay has been something. That's been our goal for a while. And so we're thrilled about this partnership and hope that it works so well that we can expand it. Even that was another what we call a success. We also were able to fund teacher housing subsidy to find out because affordable housing is an issue for again attracting and retaining quality teachers and so even bringing rent down by twenty percent in a partnership that we were able to choose to make it more affordable to live here and so we know that teachers are using that in both midland down. Odessa and I'm excited to see the results but again maybe that's something that needs to be ongoing fantastic. Thank you so much for your hard work in pouring into our community. What is your favorite thing about living in the basin for the past year? Oh my goodness We have had the best time. I don't know the barbecue here is over the top little different than Colorado different. I tell my friends. You don't even know what barbecues until you come down here so true but honestly it's really what you hit on earlier. We feel like we've known some of our friends that we've met in the past year for all of our lives and we just the Camaraderie and the spirit down here is unlike anywhere that we've seen and we love to be part of it and we really feed off the energy of the folks down here and the pride that they have and so it's been pretty amazing Pantano. Well we're so glad you're here and I know last time I probably asked you this because I always love to know what people are reading or listening to. Do you have a favorite book or podcast that you're listening to right now? You know right now. I'm reading a book and Gosh Darn it and it's Oh I don't know it feels like it's about a foot thick but it's about the the history and the heritage of West Texas Fan. Yeah and about how the all the various industries all just hasn't been oil and gas all the time right talks a lot about agriculture in the history of the area and now they put me on the spot. I cannot spit out the name. But it's it's like well I'll just google best book that's think about West Texas. It'll come up but I love that you're learning more about West Texas because I think it is important when you move somewhere to dive into the culture and to learn the history and we do always have people that are moving in and out of the basin and as many who have been through booms and busts around here now that if we're in a downturn now we argosy things turn around and it's going to go back up so new people will be moving back into the basin and I love that you are still learning about what makes it so great here. I think that's fantastic. What's the most important lesson you have learned? Maybe in it doesn't have to necessarily be in the last year being here but in life. I think I've known this for most of my adult life but being down here for your has just really put the exclamation mark on it. And it's it's advice that I give to my kids. I don't know if they listen to it but certainly anybody who asks in. It's it's okay to be uncomfortable and in fact. I think it's important to be uncomfortable as I reflect back on my professional life certainly on my personal the Times where I experienced the most growth was when I was uncomfortable. If we constantly operate our comfort zone we will never truly reach our potential. And I've even though it is uncomfortable. I sometimes when I get uncomfortable. I have to think okay. This is growth. Time this when you're going to grow and it's something that it took me a while to realize but it's absolutely true. It is true. My husband's told that to our kids several times. You have to get comfortable being uncomfortable. Absolutely that can apply to any aspect of your life whether it's in sports if it's in the classroom if it's in the workplace sometimes it's GonNa feel you're GonNa get the butterflies is gonNa feel a little different because you haven't done this before but once you do it you're going to be so glad you did That's it and you're GONNA learn something from it so good advice and your kids should listen. Let me tell them. Sometimes they listen to other right other moms before I I understand. I understand Let's let's just kind of close things out with a reminder of the Permian counts because I think that is so important that everyone does go. Fill out that information. Let's just give one final push? Is there anything we haven't mentioned about it? That you think is so important that you really want all of our listeners. To know two things really number one when we ask people are you going to fill out the census early on we got to interesting common themes back number one was. Oh we're going through a census right now. It's since this year so the basic awareness that this is happening right now needs to increase significantly so yes. We are going through once every ten years since his count as happening right now as we speak number two the other reason people said well. I don't matter I mean if I don't feel my now. If you know plenty of other people will so. I don't matter but there goes if everybody thinks like that then we're GonNa get a significant undercount and so every person in this basin who is here more than fifty percent of the time absolutely matter so I don't want any of your listeners. Or any of anybody here to think that they're that filling out their ballot doesn't matter because it does. That was great. Great information in so true because when you said that I just realized ten years flew by that my ass and to think we we are in another census count. Yeah I mean I feel like it was just yesterday but it wasn't letter and so as so important. Great Information please. Everyone take Tracy's advice go to the Permian counts dot com and Phil this information out. We would love to make sure that we get all the representation. We can here in West Texas. We need it now more than ever and we need each and every one of you to be counted. So Tracy thank you so much. I appreciate you being here. And if we want to let everyone know that of course. Permian strategic partnership is here to stay. You're on social media. You're on facebook. The premium counts as well so just diving. Get that information. See how you can help. And let's continue to support our wonderful community of the Permian Basin and we're all in this together. So let's help each other out and be strong together and go get your senses. Vote counted right now. I cannot say it enough. I feel like now. I'm gonNA tell everybody like everybody. I see if you feel about your son says. That's that's what we need to do. We need to spread that good here of filling out your census so tracy thank you again. I appreciate you thank you for all you do and thank you so much for having me your welcome well. Usually we always announce a community. Mvp At the end of our show. And today I have several community. Mvp's because as you know we are going through something we've never gone through before and we are seeing people step up like in true West Texas fashion as they always do. But I want to share a special. Thank you to our grocery store. Workers Nurses Doctors Educators first responders farmers city government officials who were all working overtime to make sure that our country locally and around the world continue to run a smooth as they can during these uncertain times. If you haven't chance take the time and just thank you. It's that easy. Just walk up to him. Say Thank you so much for all your doing and from all of us here at Permian perspective we appreciate each and every one of you and what you're doing to help during this pandemic special thank you again to Baker Hughes for Sponsoring Permian Perspective as you know. Baker Hughes recently launched a new in reimagined Baker Hughes brand and the as an energy company. They are striving to make energy safer cleaner and more efficient for people on the planet. Thanks again for joining us. I appreciate each and every one of you for sharing time today. This concludes the episode of Permian Perspective. The story behind the oil and gas leaders in the Permian Basin. Just remember dream big and believe in yourself and never ever give up. You make it a great day own. Don't forget to fill out your census form. Hey everybody Alex here. With the events on deck for the next month we have some exciting things coming up to happy hours one in Pittsburgh and one in Denver so the first one will be happening on March twenty second at Bubbas Gourmet Burgers and beer. This event won't be from four to seven and will feature a live recording of oil and gas this week with Jake Corley and Markel Corp so be sure to check that out. You can sign up via our social. Media's we have an event bright sign up and should be good to go from there. The next event will be a happy hour in Denver at Liberty Oilfield Services on April second once again. Check our social media's for the event bright sign up and sign up there as some of our social media followers may know we are headed to Aberdeen Scotland the first week of March in a couple of days actually for Doku con creating high impact sales and Energy Dokru is excited to launch. Its very first sales development conference and OGSM's mark and Patrick will be hosting a panel and recording podcast. So we're really excited to be joining map. The leaders in industry luncheon is on March eleventh at the Petroleum Club. Houston toward the future is happening on March tenth and Eleventh in Houston your registration to the port of the future conference also allows you access to exclusive events including TSA security and terrorism research showcase and many more so be sure to view the agenda and see what they are offering the Houston energy. Breakfast will be on March twentieth at the Norris Conference Center in Houston the API Energy Houston three gun. Chapter will be on March Twentieth. This amount is filling up very quickly so make sure to get a team in as soon as possible. The BP Energy Outlook Twenty twenty edition will be on April twenty. First it's happening online and this event is about transitions that will take place to a low carbon energy system. That's offered this month. Everybody hope you guys have a good month and check back in next month to see what we're having thank tune in next week for another episode of Permian Perspective a production of the oil and gas global network learn more at www dot g G. N. DOT COM.

Coming up next