February 2019 - Ernie LaFlure

Last night as our President gave the State of the Union address, I could not help but feel some pride for the contributions of our industry.  The President highlighted how the United States is now the World’s leading Energy producer and we have become a net energy exporter!  We are so familiar in our industry with the incredible changes that have occurred; we often take it for granted that others realize this.  For perspective, I did a little looking back on how dramatic this change has been.  In seven years from 2011 to 2018 we erased 25 years of production declines in the U.S. to reach the peak production in our nation’s history.  WOW!!  It was just 10 years ago that the hottest industry discussion was the Simmons study on peak oil and the accompanying book “Twilight in the Dessert”.  What an incredible decade of innovation and accomplishment it has been!  I can’t wait to see what the next decade has in store for our great industry.

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January 2019 - Ernie LaFlure

I hope everyone had a wonderful Holiday Season!  Now we venture forward into 2019 and one of the few things we can be certain off is that it will be another roller coaster year in the oil patch.  In the midst of this uncertainty, it is valuable to reflect on the timeless value our Society brings to help us in these times. The greatest technology and business innovations often come in times of challenge and our Society offers the opportunity to share the ideas that may spark those ideas for you.  Additionally, networking with your peers is always valuable but especially so when the business climate is difficult.  Perhaps most valuable of all, our great membership combined with fun events make our journey enjoyable and worthwhile.

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December 2018 - Ernie LaFlure

The Holidays are upon us and 2018 is wrapping up fast!  While we were enjoying our Thanksgiving, the weakness in oil markets escalated with weakened sanctions on Iranian oil output and our strong domestic production.  Fortunately, for East Texas, natural gas prices remain strong at over $4.60 per MCF and some of that strength is driven by strong exports, including strong LNG demand.  Would any of us thought 10 years ago that the United States, led by Texas, would now be a world power in the export of petroleum and Natural Gas!   While we can do little to influence short-term swings in energy markets, we can be encouraged that we now have global markets for both our oil and natural gas products.  This of course means there will be a demand for our energy projects for many years to come.  One of the greatest unconventional plays in the Gulf Coast is the Eagle Ford Shale and will be the focus of our next meeting.

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