OIL REPORT
PBIOS PRESIDENT: PERMIAN ‘GRIT’ POWERS THE WORLD
PBIOS President Larry Richards said the Permian Basin meets both definitions of ‘grit’ and is an apt theme for this year’s Oil Show.
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GOLD SPONSORS
Genesis Endeavors
Santo Petroleum
Crestwood
Aris Water
Double E Pipeline/
Summit Midstream Intrepid Potash Xcel Energy AR Foreman Construction
EXHIBIT SPONSORS
Expanse Electrical
HUB
CNB Bank
Brewer Oil
Pioneer Bank
Air Compressor Solutions
Carlston Ranch Master Planned
Community
Wester n Commerce Bank
U.S. Property Inc.
SILVER SPONSORS
ConocoPhillips
Flogistix
Marathon Oil
Carr, Riggs & Ingram
Murrill Electric
Baker Hughes
Salado Isolation Mining Contractors
Capitan Energy
Bobcat Auto Service
TCS: Trucking & Contracting Services, LLC
Coterra
IN KIND SPONSORS
KCCC Radio
Pecos Valley Broadcasting
Big Country
Carlsbad Radio
MTD Radio
The Fairfield Inn
La Quinta Inn &Suites
The Comfort Inn
The Hotel Stevens Inn
McDonalds
Albertsons
La Tienda Thriftway
GENERAL MANAGER
Robert Granfeldt, Robert.Granfeldt@hearstnp.com
EDITOR
Stewart Doreen, SDoreen@hearstnp.com
REPORTERS
Mella McEwen, Ben Shaffer, Morgan-Taylor Thomas
SPECIAL PUBLICATIONS EDITOR
Kevin Scannell, Kevin.Scannell@hearstnp.com
PUBLICATION DESIGNER
Kelsi Pohlman
ADVERTISING DIRECTOR
Chad Anderson
ACCOUNT REPRESENTATIVES
Shannon Frost, Tracy Martin, Cindy McGaha
ACCOUNTING MANAGER
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The Midland Reporter-Telegram’s Oil Report Edition highlights the Permian Basin’s vibrant oil industry including some of the key individuals, companies, products and much more.
To advertise in Midland Reporter-Telegram print and digital products, call the newspaper office at 432687-8813. To submit a story idea or to inquire about freelance writing and photography opportunities, contact Stewart Doreen at sdoreen@hearstnp.com.
The MRT Oil Report Magazine is a publication of the MRT Media Group. All rights reserved. No part of the publication may be reproduced in any form without prior written consent.
PBIOS SCHOLARSHIPS SUPPORT LOCAL SCHOOLS
The PBIOS has donated more than $1 million to local colleges since 2007.
By Mella McEwen
Over the decades it has been in existence, the Permian Basin International Oil Show has worked to educate energy industry professionals about the latest equipment and technology. Those efforts have extended to those who are not yet industry professionals. Since 2007, the show’s board of directors has donated more than $1.4 million to local colleges.
After the 2021 exposition, the board donated a combined $82,000 to local colleges and university, according to Larry Richards, president of the 2023 show. That included $80,000 each to the University of Texas Permian Basin, Midland College and Odessa College, $35,000 to the engineering program at Texas Tech University and $7,000 to members of the Desk & Derrick Club.
“We’re honored to help UTPB’s efforts training and educating the next generation of our industry’s leaders and professionals,” Richards told the Reporter-Telegram by email. “Their
work is so important for our industry and our community.”
He wrote that he personally hired one of the first mechanical engineers graduating from UTPB’s program years ago. The person now serves as the engineering manager at Richards’ former company today, designing equipment that operates all over the world.
But he noted that the donations not only supported engineering students but welders, truck drivers, automation techs and other professionals “urgently needed in the United States’ most active oil and gas basin.”
Richards wrote, “While the young engineers and business students graduating from UTPB are vitally important, equally important are
the welders, automation techs, truck drivers and others graduating from new technical programs at Odessa and Midland College. These bright, hardworking young people graduating locally are so critical to our industry’s progress, and often lead the innovation our region is so famous for.”
Rebecca Bell, executive director of the Midland College Foundation, told the Reporter-Telegram by email that the donations from the Oil Show support scholarships for students at the college’s Applied Technology programs.
“This gift helps to provide
transformational changes in the lives of our students who are training to get the skills they need to thrive in today’s Permian Basin workforce. It’s a win/win: Students are receiving scholarships, and the training they receive helps to add skilled employees to our economy. Many thanks to PBIOS for investing in our community and in Midland College students.”
The UTPB financial aid office reports that 65% of the funds received from the Oil Show are used as scholarships and the remaining 35% as fellowships for students in studies related to oil and gas.
Steven Beach, dean of UTPB’s College of Business, estimates 180 students have benefitted from the scholarship funds given by the Oil Show.
As the university works to graduate more students who will join the local workforce and rise to leadership positions, “this support is critical,” Beach told the Reporter-Telegram in a telephone interview.
He added, “These are quality degrees at a low cost. (And) when you combine scholarship funds from the Oil Show and other programs like Falcon Free, they’re very affordable.”
PSP REPORT DETAILS ECONOMIC POWER OF PERMIAN BASIN
By Mella McEwen
Not only is the Permian Basin a powerhouse when it comes to providing oil and natural gas to the state, nation and world, it is also a powerhouse when it comes to the US economy.
A recent report from the Permian Strategic Partnership finds the Permian Basin had a record year in terms of tax revenue collected from the oil and gas industry.
That’s $181.8 billion in gross domestic product and nearly 786,000 jobs contributed to the US economy. The region is also projected by The Perryman Group to generate $325 billion in gross product and more than 1.2 million jobs for the nation’s economy by 2050.
The funds support tax relief, road improvements, public schools and teachers, police and fire departments, community hospitals, universities and other essential services.
With 105 billion barrels of recoverable oil and 229 trillion cubic feet of recoverable natural gas, the Permian Basin helps fuel economies worldwide. By 2025, the Permian Basin will be responsible for generating 50% of U.S. oil production. Despite being home to only 1.6% of Texas’s population, the Permian Basin accounts for 8.2% of the state’s private sector GDP. Same goes for New Mexico, only 9.3% of the state’s population lives in Lea, Eddy and Chaves counties, but the Permian Basin accounts for 26.5% of the state’s GDP.
The Permian Strategic Partnership's recent Economic Impact Report finds the University of Texas System and the Texas A&M System received $2.1 billion from taxes paid by Permian Basin oil and gas producers while an additional $2.1 billion to Texas’ Permanent School Fund, more than double the previous year.
LOCAL HOTELS TAKE ADVANTAGE OF PERMIAN BASIN INTERNATIONAL OIL SHOW
By Ben Shaffer
The Permian Basin
International Oil Show, which comes to the Ector County Coliseum from Oct. 17-19, is a gathering of producers, service companies, investors and more for the exchanging of ideas and the ability to network. With exhibitors and companies
coming from all over the region, state, country and beyond, Midland-Odessa businesses and residents will surely benefit from the event.
There are more available AirBNB properties in Midland-Odessa for Oct. 3-5 than there are during the oil show time span. However, AirBNB’s for Oct. 17-19 get as expensive as $310 per night. Those rates are consistent with a normal Tuesday-through-Thursday
span, when the most expensive rate is $290 per night.
Hotels appear to be a different story. From Oct. 3-5, the nightly rate ranged from $89-$272. During the dates of the oil show, those rates increase to $139-$499.
The following are differences in local hotel prices between a normal twonight stay (Oct. 3-5) and the dates of the oil show (Oct. 17-19). These nightly rates are for one room, two adults.
TownePlace Suites by Marriott
Oct. 3-5 rate: $172/night
Oct. 17-19 rate: $371/night
Residence Inn
Oct. 3-5 rate: $162/night Oct. 17-19 rate: $371/night
DoubleTree Hilton Midland Plaza
Oct. 3-5 rate: $167/night Oct. 17-19 rate: $382/night
MGM Odessa Fundome
Oct. 3-5 rate: $89/night Oct. 17-19 rate: $139/night
Comfort Suites
West Midland
Oct. 3-5 rate: $152/night Oct. 17-19 rate: $268/night
Sleep Inn & Suites
West Midland
Oct. 3-5 rate: $131/night Oct. 17-19 rate: $279/night
La Quinta North Midland
Oct. 3-5 rate: $142/night
Oct. 17-19 rate: $259/night
Quality Inn
Oct. 3-5 rate: $89/night Oct. 17-19 rate: $151/night
Marriott, downtown Odessa
Oct. 3-5 rate: $272/night Oct. 17-19 rate: $499/night
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SMALL BITES A LOCAL’S GUIDE TO THE BEST EATS AND TREATS
9 must-try restaurants in Odessa
By Morgan-Taylor Thomas
Brantley BarbecueCreek
Pit Master Brandon McPherson shows off his barbecue skills at Brantley Creek. Named after his son, the restaurant opened its first brickand-mortar in May and was named to Texas Monthly’s Best BBQ list in August. The beloved smokehouse serves poultry, pork and beef along with lip-smackin’ sides.
Open 11 a.m. to 8 p.m. Wednesday through Saturday. 3541 Faudree Road.
Cork & Pig Tavern
Felipe Armenta is known for his impeccable restaurants found throughout West Texas. The Cork & Pig franchise remains no exception. Woodfired pizza, big juicy steaks, creamy pastas, sweet beignets, extensive brunch options and a wide-scale wine and spirit menu make the restaurant a community staple.
Open 11 a.m. to 10 p.m. Monday through Thursday, 11 a.m. to 11 p.m. Friday, 10 a.m. to 11 p.m. Saturday, 10 a.m. to 9 p.m. Sunday. 7260 E. State Highway 191, suite 204
Curb Side Bistro
Don’t be fooled by Curb Side Bistro’s simplistic off-white exterior because the unreal foodie concoctions found inside will surely give your taste buds a one-of-akind experience. Chef Alejandro Barrientos —who earned the title of “Chopped Champion” in April after winning an episode of the hit cooking show — piles burgers high and expectations even higher.
Open 11 a.m. to 9 p.m. Tuesday through Thursday and Saturday, 11 a.m. to 10 p.m. Friday. 3816 Andrews Road.
Flair Taverna
Looking comfort food done fine dining style? Flair Taverna offers a menu packed with classics such as filet mignon, lobster ravioli, spaghetti with meatballs and more. The handcrafted skills flow into the desserts and drinks as well.
Open 11 a.m. to 10 p.m. Tuesday
through Saturday, 11 a.m. to 9 p.m. Sunday and Monday. 2701 John Ben Shepperd Parkway
Jersey Girl Pizza
A more relaxed setting, Jersey Girl Pizza has remained an Odessa favorite for years. This family style restaurant stands as the perfect option for both small and large groups looking for a small-town feel. Enjoy the basics such as cheese, pepperoni and meat lovers as well wild rides like pineapple.
Open 11 a.m. to 9 p.m. Monday through Saturday. 4007 John Ben
Mi Piaci
People from all over the Permian Basin travel for a taste of the iconic Italian dishes served at Mi Piaci. Large portions, delectable creations and an array of options keeps Mi Piaci and the top of many Midland-Odessa must-try food lists. Don’t forget, it’s BYOB!
Open 11 a.m. to 9 p.m. Monday through Saturday, 11 a.m. to 8:30 p.m. Sunday. 2607 N. Grandview Ave.
Red Oak Kitchen
Cork & Pig’s sister restaurant offers the same aesthetic setting but in a lighter feel. Red Oak Kitchen combines the South with the West, providing patrons with a fusion explosion of hearty and bistro-like portions. Brunch is also served.
Open 7:30 a.m. to 10 p.m. Monday
through Saturday and 7:30-9 p.m. Sunday. 7260 State Highway 191 Frontage Road, suite 200
Tequila Tony’s
As suggested in the name, Tequila Tony’s is known throughout the 432 for its wide, tasty variety of frozen margaritas. Served alongside mouthwatering Mexican cuisine, each drink provides a swig of citrus sweetness to every bite.
Open 11 a.m. to 9 p.m. Wednesday and Sunday, 11 a.m. to 9:30 p.m. Thursday, 11 a.m. to 10 p.m. Friday and Saturday. 3101 E. University Blvd.
Whitehouse Meat Market
Here, customers will find the Holy Grail of hamburgers. Offered with gooey melted cheese, double stacked,
chili cheese covered, smothered in barbecue sauce or even flaming hot with green hatch chiles, each burger made at Whitehouse seems to be better than the one before.
Open 7 a.m. to 6 p.m. Tuesday through Saturday. 7270 State Highway 191 Frontage Road, suite 210
As an independent bank in the Permian Basin, we value independent oil & gas operators and the energy industry. We know the Permian. We know the industry. We are community.
LONGTIME PBIOS EXHIBITORS LIKE BEING FACE-TO-FACE WITH CUSTOMERS
By Mella McEwen
More than 700 companies manning more than 1,000 booths set up throughout the Ector County Coliseum complex will be displaying everything from tiny ball bearings to pumping units and drilling rig derricks that tower over the grounds.
The 2023 Permian Basin International Oil Show, set for Oct. 1719, is a far cry from the small exhibition that organizers founded shortly before World War II to rival a similar show in Tulsa. As the Oil Show has grown and
transformed along with the industry, some companies have been with it for decades.
Eckel Manufacturing, which manufactures specialty hydraulic tongs sold in more than 100 countries, saw the show as a good way to build its domestic clientele before going international in 1969.
“The oil show was a good place for customers to visit with us, discuss issues and new things they’d like to see,” Terry Eckel, company president, told the Reporter-Telegram in a telephone interview.
The company has invested in a large outside booth that lets it display seven or eight of the 40 models Eckel
manufactures, he said. Meeting with visitors gives the staff the chance to hear first-hand what existing customers or potential customers want in hydraulic tongs, he said.
The company also exhibits at international shows, seeing them as a good way to get information firsthand from customers and potential customers as to what they want in hydraulic tongs.
Eckel was founded in 1958 by Emery Eckel, who, as his son explained, “had a vision of what power tongs should be and started building them.”
Sivalls Inc. has been active with the show “since it was under the trees at Floyd Gwin Park,” said Dick Sivalls, president and chief executive officer of Sivalls Inc.
Sivalls, which designs, manufactures and sells equipment used “between the wellhead and pipeline” would be conspicuous by its absence, he said.
Over the years, he said the company has downsized its exhibit, moving from an outside booth to inside and refining the exhibit so it’s easy to set up and take down.
“Our staff come out and show off our equipment,” he said.
Eckel Manufacturing has been a long-time exhibitor at the Permian Basin International Oil Show.
COURTESY ECKEL MANUFACTURING
Eckel Manufacturing has been a longtime exhibitor at the Permian Basin International Oil Show.
PBIOS HONORS DICK SIVALLS FOR INDUSTRY, CIVIC IMPACT
By Mella McEwen
The Sivalls family’s Odessa roots date back to 1947, just after World War II when Dick Sivalls’ father moved the family to town to operate Sivalls Tanks, the company founded by his father.
He serves as president and chief executive officer of what is now Sivalls Inc., and his son and daughter work in the plant and the supply store. The 88-year-old can look back over a lifetime of achievements in the industry and commitment to the communities of West Texas. Those include serving on the Odessa City Council, among many other board, and industry associations, including past chairman of the Permian Basin Petroleum Association. He is a long-standing board member of the Permian Basin International Oil Show.
For those reasons, Charles Richard “Dick” Sivalls has been named honoree of this year’s Oil Show.
Said officials with the show, “The Permian Basin International Oil Show is proud to have Dick Sivalls as our honoree to recognize his lifetime
of achievements in the oil and gas industry and in our communities. His commitment to engineering, public service, and his passion for educating others is an inspiration to all of us. He continues to leave an indelible mark on the industry and the communities of West Texas and beyond.”
“I’m delighted and honored,” Sivalls told the Reporter-Telegram in a telephone interview. “It’s been a good life for us here.”
He is the third generation of Sivalls to work in the oil and gas industry, while his son and daughter comprise the fourth generation. He said he is hopeful his three grandchildren will be the fifth.
He said his company has been involved with the Permian Basin International Oil Show since it was first “held in Floyd Gwin Park under the trees. It’s part of our community effort to support the Oil Show.”
Since the Sivalls family arrived in Odessa, the company has evolved from manufacturing tanks to designing, manufacturing and selling equipment used “between the wellhead and the pipeline,” he said. “The type of equipment is the same but altogether
different. Technology has made a lot of improvements.”
He has been involved with the company since 1959 when he returned from serving two years in the US Army, taking over from his father in 1974. He said he has worked every facet of the business except the shop because “I’m not very good at welding.”
Over the years, the company’s customer base evolved from Permian Basin-centered to international markets: Canada, Mexico, the Middle East, even Russia. Sivalls sees business coming full circle for his company. He said the company’s niche had been overseas for a time, but now demand is “heavy in the Permian Basin.”
“The Permian Basin has picked
up prestige-wise, recognition-wise throughout the industry when it didn’t used to be that way,” he said. He then related a favorite anecdote connected to a previous UTPB president. He has been involved with the University of Texas Permian Basin since its inception and said that past president wanted to change the school’s name.
Sivalls is shown in his company's booth at the Permian Basin International Oil Show in this file photo. Sivalls Inc. has been a long-time exhibitor at the Permian Basin International Oil Show.
“I said, ‘Why?’ and he said it was because they couldn’t recruit from outside the area because no one knew where the Permian Basin was. Now, I venture to say that president wouldn’t give up the name for anything. Generally, it’s in the Wall Street Journal daily. It’s known around the world.”
E S P E C T
Ou r M ission
P ioneer’s mission is to be America s leading independent energy company, focused on value, safet y, the environment, technology and our greatest asset, our people The company’s long-term investment thesis is centered around the following strategic objectives:
Maintaining a strong balance sheet and financial flexibilit y
Returning free cash flow to shareholders via a strong and growing base dividend, a variable dividend and share repurchases
Utilizing the company’s scale and technology advancements to reduce costs, improve efficiency and create value
Delivering profitable production and reser ve growth through drilling, completion and production improvement activities
Setting high expectations for employees and contractors to perform their jobs in a safe manner
Maintaining industr y-leading sustainable development and environmental stewardship efforts that mitigate climate change risks
Adopting leading governance and employee engagement practices, including embracing diversit y and inclusion and supporting the communities in which we live and operate
P ioneer’s long-term strategy is anchored by our interest in the long-lived Spraberry/ Wolfcamp oil field located in the Midland Basin in West Texas which has an estimated remaining productive life in excess of 50 years
-Scott Sheffield, Chief Executive Officer
RESPECT for Our Planet, People and Future
In 2022, we celebrated our 25th anniversar y As we look ahead to the next 25 years, we are steadfast in our commitment to the Environmental, Social and Governance (ESG) practices that have guided us since our founding.
RESPECT for the Planet: Our planet’s resources are precious and finite We must treat them as such.
RESPECT for All People: Ever y person can make a difference We must include diverse thoughts experiences and backgrounds in all we do to achieve our best.
RESPECT for the Future: Ever y day is a new opportunit y to do better and be better We must embrace ever y challenge and opportunit y to improve Continuous improvement is an ever-changing process at P ioneer
We are invested in the wor k we have done to advance our ESG pr ior ities and align them with our values – and we plan to do even more Our 2,000+ employees embody the ‘can do’ and ‘will do’ spir its that have brought Pioneer to our current industr y leadership position, and they are wor king hard ever y day to fulfill our mission: to be Amer ica’s leading independent energy company, focused on value, safet y, the environment, technology and our greatest asset, our people.
Reducing Emissions and Freshwater Use
Pioneer intends to achieve net-zero Scope 1 and Scope 2 emissions in our operations by 2050. To achieve this, we have set ambitious goals to reduce greenhouse gas emissions (GHG) intensit y 50% by 2030 and methane emissions intensit y 75% by 2030. We will also sustain an annual flar ing intensit y of less than 1% and end routine flar ing by 2025.
Pioneer maintains one of the lowest energy breakeven costs in the wor ld, along with a low carbon dioxide (CO2) intensit y (per barrel equivalent) – enabling us to deliver responsible and low-cost energy
Accountability from the Top Down
We place tremendous value and emphasis on ensur ing data accuracy in our
ESG COMMITMENT
Pioneer is committed to being a low-cost, low-emission producer of U.S. oil and gas. The energy industry is evolving rapidly and we consider our commitment to responsible and sustainable development paramount to the future of Pioneer Through continuous assessment and improvement and adoption of leading ESG practices, we believe we are positioned to continue delivering long-term value to our stakeholders.
Sponsored Content
repor ting, and we focus significant time and effor t on getting it r ight. Pioneer is committed to the pr inciples set for th by the Task Force on Climate-related Financial Disclosures (TCFD). The TCFD sets out a framewor k to assess the climate resiliency of cor porate business strategies over the shor t, medium and long ter m, given var ious physical and transition r isks
Prioritizing Diversity, Equity and Inclusion (DEI)
We are a better company when we consider different ideas, exper iences and strategies, ensur ing that our teams have diverse representation companywide:
• 42% of our Board and 44% of our Executive Committee are women or hail from histor ically underrepresented communities
• Pioneer ear ned a spot on the 2022 Diversit yInc Top Regional Companies list in our second year of par ticipating in that organization’s benchmar king sur vey
• We scored 90 (out of 100) on the Human Rights Campaign Cor porate Equalit y Index, which measures wor kplaces on LGBTQ+ equalit y
• Our commitment to human r ights is reflected in our for mal suppor t for the Ten Pr inciples of the United Nations Global Compact.
Building ESG into Our Supply Chain
In 2021, Pioneer became one of the first oil and gas companies to incor porate transparent, measurable and accountable ESG perfor mance into our supply chain management.
Our Supplier Diversit y Commitment demonstrates our dedication to advancing stewardship and inclusivit y within our supplier base Pioneer maintains high ethical standards regarding safet y, environmental stewardship and human
r ights, and we expect the same from companies that do business with us Our Supply Chain team continues to finetune the procurement process, focusing on br inging more small, minor it y- owned and women-owned businesses into the company’s supplier base In 2022, Pioneer spent $140 million with our diverse suppliers, and we plan to continue this investment in the years to come.
Giving Back
Our company has always believed in the impor tance of giving back to the communities that give us so much. In 2022, we provided near ly $8 million social investments and employee-led giving to hundreds of char ities in the Per mian Basin and the Dallas-For t Wor th area. Additionally, we extended our giving inter nationally, donating $20 million to assist with humanitar ian effor ts in war-tor n Ukraine
RESPECT for All
To achieve our ESG goals, we are committed to maintaining a strong balance sheet, generating strong investment retur ns for our shareholders and operating efficiently to ensure that we thr ive and make a positive impact in the years ahead.
Thank you for your continued suppor t of Pioneer and our sustainabilit y jour ney
J Kenneth Thompson Chairman of
the Board of Directors
Scott D Sheffield Chief Executive Officer
ENVIRONMENTAL
As the energy industry continues to evolve, Pioneer remains committed to leading environmental practices and stewardship of our areas of operation. We are continually focused on reducing our emissions intensity use of freshwater and physical footprint on the land.
SOCIAL
At Pioneer, we respect one another and support the communities we call home. Through a culture dedicated to diversity, equity, inclusiveness and transparent communication, we consistently embrace differences and promote honesty and teamwork throughout our company We call these our RESPECT Values.
GOVERNANCE
Our Board and executive management team recognize that robust corporate governance and Board-level oversight of our ESG initiatives drive alignment with our company’s strategic ESG vision and the long-term interests of our shareholders.
GOVERNANCE
Describes our governance structure, including the role of the Board of Directors and executive management in identifying, assessing and mitigating climate-related risks and opportunities.
STRATEGY
Outlines our planning time horizons, illustrates how climate risks and opportunities are integrated into our planning and strategy processes, and details our analysis of climate-related scenarios and business resiliency
RISK MANAGEMENT
Explains the processes used to identify, assess and manage climate-related risks and opportunities, demonstrating how they are integrated into our enterprise risk management (ERM), planning and strategy processes, and opportunities.
METRICS AND TARGETS
Discloses the metrics and targets used to assess and manage relevant climate-related risks and opportunities.
Governance
Pioneer ’s Board and Executive Committee recognize that strong cor porate gover nance dr ives alignment with the interests of our shareholders and other stakeholders, strengthens our culture provides accountabilit y and r isk oversight, and ensures the sustainabilit y of our organization.
Board of Directors
The Board is responsible for overseeing the company’s assessment of major r isks, and the measures taken to prepare for and manage such r isks. The company and the Board view sustainable development as a multidisciplinar y approach to our business, which balances economic growth, environmental stewardship and social responsibilit y In addition, the Board takes an active role in overseeing the design and implementation of our ESG strategy, while wor king with management to cultivate our HSE culture.
Board Diversity
Pioneer is committed to having a Board compr ised of diverse
backgrounds, skills and professional exper ience in areas relevant to Pioneer ’s business and strategy
Pioneer ’s Board currently consists of 12 individuals, four of whom self-identify as women, and t wo self-identify as individuals from communities that are traditionally underrepresented in our industr y (Black, Afr ican Amer ican, Hispanic, Latino, Asian, including the Middle East, Pacific Islander, Native Amer ican, Native Hawaiian, or Alaska Native, or who selfidentify as gay, lesbian, bisexual or transgender), resulting in 42% aggregate Board diversit y.
Executive ESG Leadership Executive Committee
A focus on sustainabilit y begins with strong gover nance and committed leadership Pioneer ’s Executive Committee includes the chief executive officer, president and chief operating officer, chief financial officer, and six additional senior officers This core leadership team is responsible for establishing and executing the company’s strategy as overseen by the Board, including assessing climate-related r isks
and oppor tunities Operationally, the Executive Committee and the ESG Task Force dr ive Pioneer ESG effor ts
The Executive Committee has established t wo multidisciplinar y sustainabilit y groups to assist with the tactical aspects of strategy development and operational execution of Pioneer ’s climaterelated initiatives:
ESG Task Force
Established in 2020, the ESG Task Force compr ises a subset of the Executive Committee, officers, key leaders and subject matter exper ts from var ious disciplines across the company. Pioneer ’s ESG Task Force is responsible for shaping our longter m ESG strategy and overseeing Pioneer ’s cor porate ESG goals and related repor ting The ESG Task Force ensures project resources are available and provides strategic direction and exper t advice
Executive HSE Committee
Pioneer ’s Executive HSE Committee (HSEC) sets the company’s HSE vision and strategy for our operations Executive leadership incor porates ESG objectives into annual HSE goal-setting sessions for all operational functions, and tracks and repor ts progress to the Executive Committee and the HSEC Executive, technical and field staff par ticipate in the cross-functional HSEC
Emissions Management
Pioneer recognizes the goals of the Par is Agreement to limit a global temperature increase to well below 2 degrees Celsius and pursue effor ts to limit it to 1.5 degrees Celsius Climate change is a pr ior it y at Pioneer, and we str ive to reduce emissions of methane and other greenhouse gases from our operations, while assessing and managing the impacts of climate change on our business Our actions suppor t the aims of the Par is Agreement to reduce emissions and our goal to produce low-cost, low-emission oil and gas
Pioneer also limits emissions of nonGHG emissions from our operations, including volatile organic compounds (VOC), nitrogen oxides (NOx), sulfur dioxide (SO2) and other pollutants. These emissions are subject to Texas air per mitting programs that are intended to protect regional air qualit y near oil and gas operations We utilize best practices and take a holistic approach to reducing emissions Our emissions practices not only aim to ensure regulator y compliance but also deliver emission reductions well beyond what is required by federal and state regulations
Our Net Zero Pathway and Interim Targets
Pioneer set targets to reduce our Scope 1 and Scope 2 GHG emissions intensit y by 50% and our methane emissions intensit y by 75% by 2030, which, once achieved, would align with Pioneer ’s planned path to achieve net zero GHG emissions by 2050. Our 2030 targets are based on current development plans. In 2023, we fur ther demonstrated our commitment to emissions reduction by setting an additional shor t-ter m
target to achieve a measurementinfor med methane intensit y of 0.20% or less in 2025.
Interim Emissions-intensity Targets
To suppor t our Scope 1 and Scope 2 net zero ambition and dr ive incremental progress, we have established targets to:
• Reduce our Scope 1 and Scope 2 GHG emissions intensit y 50% by 2030 from our 2019 baseline
• Reduce our methane emissions intensit y 75% by 2030 from our 2019 baseline
This year, as par t of our OGMP2.0 commitment, we established a shor tter m, measurement-infor med methane emissions intensit y target to:
• Reduce our methane emissions intensit y to ≤0.20% of produced natural gas in 2025
Flaring Reduction Targets
Pioneer also established t wo targets specific to production flar ing:
• Limit our annual flar ing intensit y to less than 1% of our natural gas produced
• Zero routine flar ing by 2025, five years ear lier than our or iginal 2021 commitment of zero routine flar ing by 2030
Driving Technology Advancement
Pioneer is an industr y leader in advancing dr illing and completion techniques and operational efficiencies We invest annually in dr illing and completions technology enhancements and par ticipate in industr y consor tia. We have also implemented var ious digital field equipment enhancements to improve employee safet y, lower capital and operating costs, refine field data capture, and reduce Pioneer ’s overall environmental footpr int.
Our dr illing organization has successfully leveraged data science, statistics and engineer ing disciplines to automate var ious wor kflows that reduce operational var iabilit y and increase capital efficiency By effectively merging predictive aler ts, advanced models and 24/7 remote engineer ing suppor t, we
Reuse Volumes by Year
have digitized our wor kflows to make faster, more proactive and infor med decisions.
Water Management
Water: A Pioneer Priority – Responsible sourcing, production and protection
Water is essential to hydrocarbon production, and Pioneer diligently manages our effor ts around this cr itical resource using a team that specializes in responsible water management and strategic approaches to conser vancy Pioneer has a straightforward strategy: “Maximize oil and gas production through responsible management of water sourcing and takeaway that provides flexibilit y and optionalit y, while protecting the communities and environments in which we operate ”
OneP ioneer’s mission is to champion our culture of RESPECT and communit y stewardship by fostering an inclusive and productive environment that visibly supports and actively empowers all employees to thrive through education, recruitment, advocacy, wellness, development, mentorship, networking and philanthropy More than 30% of our employees are members of OneP ioneer
OneP ioneer Principles
• We listen, show up and speak up as allies for people and communities that are different from our own
• We advocate for an accessible and inclusive workplace that supports employees with permanent and temporar y disabilities
• We embolden our employees to bring their whole selves to work regardless of sexual orientation, gender identit y or gender expression
• We support veterans, active service members and their families
• We appreciate and celebrate individuals from all cultural backgrounds and foster a culture of inclusion through promoting a constructive understanding of our differences and potential biases
• We connec t employees through mentorship, net working and shared learning to adapt and succeed at ever y stage of their careers in a rapidly changing workplace
• We promote equalit y through the development, retention and advancement of women and people of color at P ioneer
Social Value
Pioneer ’s foundation and long-ter m success is built on the tenets of honest y, mutual respect, accountabilit y, innovation, inclusion and communication. We celebrate our people as unique human beings with vibrant perspectives, exper iences, identities and contr ibutions
PBPA DESIGNATES DICK SIVALLS ITS 2022 TOP HAND
Charles Richard "Dick" Sivalls, shown in his company shop, has been named Top Hand by the Permian Basin Petroleum Association and will be honored at a dinner in January.
By Mella McEwen
Decades spent immersed in the Permian Basin oil and gas industry and its communities has earned Dick Sivalls the designation of Top Hand by the Permian Basin Petroleum Association. He will be recognized with a dinner this coming January.
“Few people have demonstrated a greater commitment to the Permian Basin than Dick Sivalls,” Ben Shepperd, president of the PBPA, told the Reporter-Telegram by email. “His extraordinary success with Sivalls Incorporated is evident throughout the Permian and, in fact, internationally. You can hardly drive on any highway or county road in the Permian without seeing Sivalls’ equipment. Many an operator owes their success to Dick and his team for the quality products they have produced over the decades.”
Shepperd concluded, “Dick’s generosity is also legendary. He continues to be a strong supporter of multiple causes throughout the Permian. He is also a former distinguished PBPA Chairman and continues to attend most of our events. We could not be more proud to present Dick with this year’s Top Hand award.”
For his part, Sivalls said he was honored to be named PBPA’s Top Hand “as a way to draw a crowd and support the organization.”
Sivalls himself figures his family has been in the energy business for 123 years. “I think I figured out my grandfather started in Ohio in 1900,” he told the Reporter-Telegram in a telephone interview.
His grandfather’s company – Black, Sivalls and Bryson – was similar to Sivalls Industries, making oilfield equipment.
“There was no good way to move the products he built other than a team of mules and a wagon,” he recalled. “They needed a facility close to where the product was being used.”
The company built a plant in Oklahoma City in the 1920s and his father moved the family there to run the plant. The company sold in 1945. After the company sold, Sivalls said his father decided he was too young to retire and, with two partners, founded Sivalls Tanks, operating the plant for two years before the Sivalls family relocated to Odessa.
Sivalls said because equipment had to be built close to its end user, his family moved as oil fields developed. Thus the moves from Ohio to Oklahoma to Texas.
Though Sivalls was raised in Oklahoma City, he knew he was destined for the Permian Basin, spending summers working in Permian Basin oil fields and living in a boarding house while going to college.
His father was not an engineer by training, instead “going out and going to work,” he said. Sivalls himself earned a degree in mechanical engineering from the University of Oklahoma.
After serving two years in the U.S. Army Signal Corps, where he achieved the rank of ergeant, he returned to work at Sivalls full time in 1959.
“I worked in engineering, sales, everything else – except welding,” he said. “I worked in the field.”
With his engineering degree, he got into automation and the company now builds its own computers. Its subsidiaries build instruments, control panels and electronics.
“The industry has changed to the point – the equipment does the same thing except the instruments and controls are electronic and automated instead of pneumatic,” he said.
Customers, especially independent and large independent operators, are turning to remote monitoring, he said.
“They want to be able to pick up the phone and know what’s going on instead of having offices everywhere,” he observed.
PBIOS PRESIDENT: PERMIAN ‘GRIT’ POWERS THE WORLD
PBIOS President Larry Richards said the Permian Basin meets both definitions of ‘grit’ and is an apt theme for this year’s Oil Show.
By Mella McEwen
In seeking a theme for this year’s Permian Basin International Oil Show, Oil Show President Larry Richards and the horde of volunteers who coordinate and run the show turned to Webster’s Dictionary.
“Webster has two definitions for ‘grit.’ One is a particle of sand. The other is perseverance and strength of character. Both are applicable to the Permian Basin,” Richards told the Reporter-Telegram in a telephone interview.
Thus was born this year’s theme: Where Innovation and Technology Meet Permian Grit.
“I am so proud of the innovation and technology in the oil field,” he said. “I am proud to put on a show that represents the region and the industry. Our industry has lifted more humans out of poverty than any other industry. We’re able to heat and cool our homes, have transportation. Over 50% of our
food production is possible because of natural gas.”
The Permian Basin International Oil Show has been held in Odessa since just prior to World War II and this year’s show, set for Oct. 17-19 at the Ector County Coliseum complex, is forecast to draw more than 20,000 industry professionals.
“When I started, advances were being made offshore or in the international arena. The last decade, innovation has been happening in the Permian Basin,” Richards said. “The Oil Show is the best place to see the latest innovations, for people from basins across the US and around the world to come try and see and get their hands on the latest equipment.”
More than 700 exhibitors will cover the Coliseum complex’s 25 acres to display the newest in technologies that will help the industry address current challenges: Emissions, water reclamation and electrification of the oil field.
For example, Richards said Warren Cat will display a 2,500 horsepower frac pump that operates on 80% natural gas and Dragon Products will show off its 4,000 horsepower dual fuel frac pump. Dragon will also display a 4 megawatt turbine that uses associated field gas, an answer to the struggle to develop a clean electric grid in remote locations. Van Zandt Controls will display a new automated choke that gives the user control across a field at a SCADA level.
Much of this equipment will be used by the next generation of professionals, Richards observed.
Richards could not adequately praise the hard work of the 150-member volunteer board for its work organizing the show.
“We’ve worked not just to make the show productive but enjoyable,” he said. That’s why leading industry podcasters will be conducting live shows throughout the week. The Wolong Tech Café will be equipped with iNet + Starlink wifi, and Privateer
Larry Richards is serving as 2023 President of the Permian
Consulting is bringing back Angie Jordan, the Digital Diva to offer free digital caricatures.
In addition to the renowned Odessa Chuck Wagon Gang, a couple of handpicked food trucks and adjacent drink stations will be on site.
“There is such a hunger in the industry to embrace all the new and innovative technology they can find,” Richards said. And that hunger is not limited to the Permian Basin. He said he has been contacted by people in Libya and Guyana, among others,
who want to take what the Permian has learned from its unconventional resources and apply to their own resources.
The show – and parking – are free to those aged 18 and up associated with the energy industry.
OIL SHOW PRESIDENTS
The following are previous presidents of the Permian Basin International Oil Show
1950-1952 – Lloyd R. French - French Tool & Supply, Odessa TX
1954 – W.D. Lane - Plymouth Oil Co., Odessa TX
1956 – Roy Carter - Carter Foundation, Odessa TX
1958 – Arno Anders - Continental Oil Co., Odessa TX
1960 – J.C. Hostetler - Hostetler Engineering, Monahans TX
1962 – O.D. Albright - Sun Oil Co., Odessa TX
1964 – John Ed Cooper - BBM Drilling, Midland TX
1966 – Fred Courtney - Gulf Oil Co., Midland TX
1968 – J.A. McVean - McVean & Barlow, Odessa TX
1970 – Pat Fletcher - Atlantic Richfield, Midland TX
1972 – Vernon Blain - John Drilling Co., Odessa TX
1974 – Frank Lovering - Phillips Petroleum, Odessa TX
Kirk Edwards
1976 – Bill Hall - Loffland Brothers, Odessa TX
1978 – Larry Byrd - Exxon, Midland TX
1980 – Joe Womack - Texas Pacific Oil Co., Midland TX
1982 – E.G. (Eddie) Durrett - D & R Drilling, Inc., Odessa TX
1984 – Frank Ratcliff - (Ret.)Hughes Tool Co., Odessa TX
1986 – T.L. (Woody) Gregory - (Ret.) Gregory Rig Service, Odessa TX
Castle
Pipes
1988 – Clarence Cardwell - ARCO Oil & Gas Co., Midland TX
1990 – Ed Barham - D & B Oil Co., Odessa TX
1992 – Robert K. (Bob) Beggs(Ret.) Sun Oil Co., Midland TX
1994 – Don Narrell - Halliburton, Midland TX
1996 – W.R. (Bro) Hill - Hill’s Speciality Co., Odessa TX
1998 – John Dinger - Slough Equipment Co., Odessa TX
2000 – L.D. (Dave) Robbins - Oil & Gas Consultant, Midland TX
2002 – Kirk Edwards - MacLondon Royalty Company, Odessa TX
2004 – Ray Peterson - Mountain Drilling Co., Houston TX
2006 – Joe Young - Tripp Construction Co., Odessa TX
2008 – Steve L. Holifield - III Millennium Corp., Midland TX
2010 – Douglas E. Duff - O-D Rentals, Odessa TX
2012 – Don Gregory - Key Energy, Odessa TX
2014 – Larry Wadzeck - National Oilwell Varco, Odessa TX
2016 – Monnie Sparkman - Liberty Fishing & Rental Tools, Inc., Odessa TX
2018 – Steve Castle - Cowboy Resources Corp., Midland TX
2021 – Tommy Pipes, co-founder, Platinum Pipe Rentals
PBPA TOP HAND AWARD WINNERS
The following are previous Permian Basin Petroleum Association Top Hand award winners
Don Sparks
Autry C. Stephens
Dick Saulsbury
S. Javaid Anwar
Carlton E. Beal, Jr.
Barry A. Beal
Spencer E. Beal
Kelly S. Beal
Mack C. Chase
Curtis W. Mewbourne
Howard Parker & Joe Parsley
The Honorable Donald L. Evans
Scott Sheffield
Tim Leach
The Honorable Tom
Craddick Arden & Rosalind Redfern-Grover
Ted Collins, Jr. Cloyce Talbott & Glenn Patterson
Jim Henry
L.D. “Buddy” Sipes
Tom L. Brown
Arlen L. Edgar
John F. Younger
Myra Robinson
Todd Aaron
Decker Dawson
Clayton W. Williams, Jr.
Mac O. Boring, Jr.
Cy Wagner & Jack Brown
John L. Cox
Robert M. Leibrock
George Gipson
Joe Pevehouse
Carlton Beal, Sr.
Joe B. McShane, Jr.
Joseph O’Neill, Jr.
C.W. “Claude” Brown
Robert O. Anderson
John E. Reid
Charles Perry
Ed Thompson
Ben Alexander
Eddie Chiles
John P. Butler
Stanley Moore
PERMIAN BASIN INTERNATIONAL OIL SHOW HONOREES
The following are previous Permian Basin International Oil Show honorees
1952:
Houston KrumpOdessa Chamber of Commerce
1954: Jerry DebenportOdessa Chamber of Commerce
1956: Dr. Emmitt HeadleeOdessa
1958:
E.G. Rodman and W.D. Noel- Odessa Rodman Noel Oil Company
1960:
J.P. “Bum” Gibbins - J.P. “Bum” Gibbins Company
1962:
G.T. Abell - AbellIndependent Operator - Midland
George Bentley - Bentley-George Bentley Construction Co.-Monahans
1964:
E.L. Decker - Long Beach, CA – President of Martin-Decker Company
M.E. “Monty” Montrose – Houston – Sr. V.P. & Director of Hughes Tool Co & President, Oil Tool Division.
R.H. “Bob” Etnyre –Houston– General Manager of National Supply Division Armco Steel Corporation. Herbert Allen –Houston – V.P. & General Manager of Cameron Iron Works, Inc.
Davis D. BovairdTulsa, Oklahoma – Ch. of the Board., Bovaird Supply Co.
William J GillinghamHouston – President of Schlumberger Well Surveying Corporation
Andrew W. Rose - Los Angeles, California – President of Byron Jackson Div of the Borg-Warner Corporation
1966:
Robert O. Anderson –Ch. of the Board and Chief Exec Officer, Atlantic Richfield Company
1968: Ted R. Aude –President of Service Pipe Line Company
1970:
W.W. KeelerChairman of the Board and Chief Exec. Officer – Phillips Petroleum Co.
1972: Paul Kayser - Founder of El Paso Natural Gas Co. and Director of El Paso Natural Gas Products.
1974: Leonard Leon –Executive Vice President of Halliburton ServicesDuncan, OK
1976: Robert L. Parker –President of Parker Drilling CompanyTulsa, OK
1978:
Frank N. Ikard –President of American Petroleum InstituteWashington, D.C.
1980: A.H. Massad – Mobil Oil Company
1982: Mack Wallace – RR Commissioner of Texas
1984: Bill Clements –Governor of Texas
1986: Jay Alvey –Executive Director of the Permian Basin International Oil Show
1988: Harry Keegan –President of Union Oil of California
1990: PETROLEUM EQUIPMENT SUPPLIERS
ASSOCIATION (PESA) represented by their Current President Gary D. Nicholson –President & CEO of LTV Energy Products
1992: R.E. (Ray) Galvin –President of Chevron U.S.A. Production Company & Vice President of Chevron Corporation.
1994: Paul N. “Red” Adair –Adair Enterprises, Inc.
1996:
Frank M. Pool –Founder of Pool Well Service.
Jack Brown and Cy Wagner
1998: John Cox –Independent Oil Man
2000: Happy Dyer –Chairman of Odessa Savings & Loan and General Manager of Abell-McHargue Lumber Company.
2002: Clayton Williams – Clayton Williams Energy, Inc
2004: Dave Fitzgerald –Slough Equipment Company, Inc. and Fitzgerald Electric Supply.
2006:
Cloyce A. Talbott –Chief Executive Officer of Patterson-UTI Energy. President & CoOwner of Snyder Well Servicing, Inc.
2008: William B. “Dubb” Duff – President & Co-Founder of O-D Rentals- Odessa, TX
2010: Jack E. Brown and Cy Wagner, Jr. – Wagner & Brown, Ltd.
2012: Mr. Charles PerryPerry Management, Midland, TX
2014: Jim Henry - Henry Petroleum
2016: Richard Gillham - J.H. Marks Trucking / Marks Crane & Rigging Co.
2018: Tim Leach - Chairman of the Board and CEO Concho Resources
2021: Woody Gregory
BUSINESS IN THE FRONT, PARTY IN THE BACK
Here’s the information on where to enjoy those Oil Show after parties
By Morgan-Taylor Thomas
The Bar
An invite-only party hosted by Stallion Infrastructure, Republic Services and Metro Transit Sandblasting takes over The Bar in Midland. Lone Star State-based quintet The Wilder Blue will showcase their sharp melodic storytelling while guests fill the West Texas staple.
The event begins in the evening of Oct. 17. 606 W. Missouri Ave.
MindsEye! and Privateer Consulting
Oklahoma-based consulting companies — MindsEye! and Privateer Consulting — will hold their Oil Show after party at The Destination in Midland. Providing the entertainment will be beloved rock ‘n’ roll country crew Jerry Hart & Flatland. Beyond eclectic décor, The Destination offers a full bar and food trucks on-site.
The after party begins at 4 p.m. and ends at midnight. 1705 W. industrial Ave.
Oilfield Helping Hands
A free-to-attend “Tacos & Tequila” happy hour will be held at The Destination in Midland by Oilfield Helping Hands. The nonprofit, dedicated to aiding oilfield families in financial crisis, offers participants two drink tickets alongside live, local music headlined by the blues-influenced Rick Carr Band. Opening will be classic rock cover band Warner & Forbes.
The OHH happy hour runs from 5-8 p.m. Oct. 17. 1705 W. Industrial Ave.
Spartan Consulting
Out at Rolling 7’s Ranch, Spartan Consulting will host a party for Oil Show goers looking to enjoy well-known red dirt tunes and good vibes. The Justin Kemp Band — led by Hobbs, New Mexico, native and prominent West Texas musician Justin Kemp — holds a resume backed with performances and openers alongside some of the country music industry’s biggest names, such as Josh Abbott Band, Tanya Tucker and Travis Tritt.
The Spartan Consulting Oil Show party starts at 7 p.m. Oct. 17. 11700 W. County Road 122