WHAT IS ENERGY COMMERCE Energy Commerce is a broad based business degree that prepares students for careers directly and indirectly related to the energy industry. Our energy education mirrors the world use of energy. For now, that means a focus on fossil fuels. Though as the world’s energy mix changes over time, so will our curriculum. No matter what the energy source, we have always focused on teaching the primary skills necessary to a successful business career: issue analysis, critical thinking and problem solving. When we talk about the energy industry we are primarily referring to oil and gas. Within the oil and gas industry we cover upstream (exploration and production), midstream (transportation and refining) and downstream (wholesale and retail distribution). We also cover regulatory oversight, energy lending and investing, commodity trading and industry analysis. While the majority of our graduates focus on energy production and distribution, increasingly energy consumers such as manufacturers and even large retail chains are creating energy positions to focus on controlling consumption and cost of energy.
Students interested in upstream career opportunities typically become in-house negotiators/landman, division order analysts, government affairs/regulatory analysts and business development advisors. These students will focus on the Petroleum Land Management (PLM) concentration (cohort option 1) offered in the Energy Commerce curriculum. Those students interested in midstream and downstream opportunities typically enter the industry as market analysts, commercial analysts, gas schedulers and distribution analysts. These entry-level positions can lead to opportunities in oil and gas trading. These students will focus on the Energy Transaction Analysis (ETA) concentration (cohort option 2) offered in the Energy Commerce curriculum. While the PLM concentration is usually exploration and production sector specific, the ETA concentration is more broadly based, emphasizing skills more easily transferable across the spectrum of industry opportunities. Many of our graduates, usually from the PLM concentration, pursue graduate degrees in law as the PLM concentration has proven to be outstanding preparatory work for law school. ETA graduates pursuing graduate school tend to focus on finance or economic programs. From time to time there are international opportunities for new graduates though these foreign assignments usually require some industry experience (typically 5 years or more).
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CERTIFICATE IN ENERGY While there are few Energy Commerce type programs, most universities graduate students in accounting, finance, supply chain management, etc. In order to help other Rawls College of Business areas distinguish their students, the Center for Energy Commerce has partnered with these areas to offer a core energy education, the Certificate in Energy, for select students. Due to the additional time and effort involved in acquiring an energy certificate, employers will be assured not only that these students have industry knowledge but are also truly interested in the energy industry and not just an employment opportunity.
REQUIREMENTS • 3.0 GPA TTU GPA • Completion of all lower division business core courses • Certificate courses must be passed with a C or higher
COURSES (15 HOURS) Required ENCO 3301 ENCO 3385
Energy Industry Fundamentals (fall only) – taken concurrently with ENCO 3385 Petroleum Land Management (fall only) – taken concurrently with ENCO 3301
Choose one elective option below
ELECTIVE OPTION 1 Required ENCO 4375 ENCO 3365
Energy Finance Energy Markets (spring only)
Choose one from the following: ENCO 4362 U.S. Energy Policy and Regulation (fall only) or ENCO 4312 Energy and Environmental Economics
ELECTIVE OPTION 2 Choose two from the following: ENCO 4375 Energy Finance ENCO 3365 Energy Markets (spring only) ENCO 4312 Energy and Environmental Economics
Acceptance in the certificate program is subject to approval from the Energy Commerce department
Choose one from the following: ENCO 4325 Global Energy Perspectives (summer or intersession study abroad) or ENCO 4390 World Energy Project (summer study abroad)
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CURRICULUM The Rawls College of Business curriculum consists of two parts: a lower division and an upper division. The lower division is completed during the freshman and sophomore years. All students wishing to major in business are classified as pre-business majors until completion of the lower division courses. After attaining the minimum requirements of the lower division students may apply for a specific major. Admission to the lower division Rawls College designation does not assure admission to any upper division major in the Rawls College of Business. Admission into the Energy Commerce degree requires a minimum 3.0 GPA and completion of all Rawls College and TTU lower division courses. The Energy Commerce degree takes a full two years to complete.
REQUIRED COURSES
ELECTIVE COHORTS
• Energy Industry Fundamentals • Petroleum Land Management Exploration & Production Techniques • Oil & Gas Law I • U.S. Energy Policy & Regulation • Energy Markets • Energy Finance • Senior Seminar in Energy Commerce
(students must choose 1 elective cohort)
OPTION #1
Students opting to pursue cohort option #1 traditionally find employment opportunities in
• Oil & Gas Law II • Oil & Gas Agreements I • Oil & Gas Agreements II • Energy Systems
OPTION #2
UPSTREAM EXPLORATION AND PRODUCTION
Students pursuing cohort option #2 find employment in the
• Energy Quantitative Methods • Energy & Environmental Economics • Energy Analytics & Strategy • Energy Power Markets & Trading
MIDSTREAM AND DOWNSTREAM SECTORS
CORE BUSINESS COURSES • Physical Geology • Financial Accounting • Managerial Accounting • Introduction to Information Technology • Principles of Economics • Business & Professional Communication • Mathematical Analysis I • Mathematical Analysis II
• Statistics • Business Law • Financial Management • Production & Operations Management • Introduction to Marketing • Organization & Management • Managerial Communications • Applied Business Economics
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COURSE TOPICS
In addition to the core business course requirements below are the topics covered in Energy Commerce degree plans. The list is by no means comprehensive but is designed to highlight some of the more important concepts and skills taught in each Energy Commerce course. ENERGY INDUSTRY FUNDAMENTALS
• Energy resources • Supply and demand • Issue analysis and critical thinking • Economic effect of government policies • Environmental issues in energy
PETROLEUM LAND MANAGEMENT
• Legal descriptions • Real property law • Conveyances/Recording • Well trades • WI/NRI Calculations • Pooling
EXPLORATION & PRODUCTION TECHNIQUES
• Hydrocarbon geology • Drilling mechanics and issues • Well test & completion methods OIL & GAS LAW I
• Nature and protection of interests in oil and gas • The oil and gas lease • Covenants implied in Oil and Gas Leases OIL & GAS LAW II
• Title and conveyancing issues arising from the transfers by fee owners and lessors
• Transfers subsequent to a lease • Pooling and unitization of lands and leases OIL & GAS AGREEMENTS I
• Title opinions and curative • Surface leases & agreements • State regulations • University Lands • Relinquishment Act OGL
OIL & GAS AGREEMENTS II
• Farmout agreements • Term assignments • Federal exploratory agreements • 1989 Joint Operating Agreement • NRI
U.S. ENERGY POLICY & REGULATION
• Energy policies and their effect on energy production and use
• Administrative law • Environmental law • Federal/State regulation of energy resources
WORLD ENERGY PROJECT
• Installation of solar power systems in off grid villages in developing nations
• Service learning course GLOBAL ENERGY PERSPECTIVES
• Focus on global perspectives on energy policy, energy security and geopolitics
• Study abroad in Europe ENERGY & ENVIRONMENTAL ECONOMICS
• Oil and gas market dynamics • Current energy market trends • Project economics for an oil or gas resource ENERGY FINANCE
• Capital formation and valuation • Reserve based lending and alternative financing • Cash flows and strategic planning • Project evaluation and risk management ENERGY MARKETS
• Midstream/Downstream segments and issues • Oil refining, pipeline and marine economics • Energy pricing and oil commodity trading • Natural gas processing ENERGY SYSTEMS
• ArcGIS • Software systems used in the upstream energy industry ENERGY POWER MARKETS AND TRADING
• Electricity and types of power generation • Functional structure of the industry, including generation, transmission and distribution
• Power purchase agreements, capacity sales and tolling agreements
• Changing power markets and the impact of both policy and technology
ENERGY QUANTITATIVE METHODS
• Data Analysis using Excel and Thomson Reuters Eikon • Project finance and evaluation analysis SENIOR SEMINAR
• Capstone course • Synthesizes advanced concepts in energy with previous coursework
• Semester long project includes negotiations, project valuation
ENERGY ANALYTICS & STRATEGY
• Oil industry analysis and strategy development • Strategy implementation • Competitor & Market Analysis • Budgeting and forecasting • Risk Management and uncertainty
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CAREERS IN ENERGY COMMERCE UPSTREAM OPPORTUNITIES NEGOTIATOR/LANDMAN
GOVERNMENT/REGULATORY
Negotiates with property owners, government entities and other companies to secure the rights to drill for minerals. Handles the drafting and management of contracts and agreements such as farm-outs and joint operating agreements.
Obtain and manage federal, state and local permits needs for drilling, completion and production processes. Monitors regulatory developments and advises on compliance and new developments.
DIVISION ORDER ANALYST
BUSINESS DEVELOPMENT
Analyzes lease ownership in producing wells and property and prepares division orders to distribute revenue to owners of records. Interact with state and federal agencies on oil and gas regulatory issues impacting the calculation and payment of royalties.
Focus on the evaluation of potential assets for acquisition or divestiture.
MIDSTREAM OPPORTUNITIES COMMERCIAL/TRADING ANALYST
DISTRIBUTION ANALYST
Analyze industry fundamentals to determine supply and demand trends to assess impact on oil and gas prices in support of daily commercial activities.
Support pipeline scheduling, marine transportation, payment tracking. Support various marketing groups to oversee meeting of monthly contractual obligations, inventory balancing.
BUSINESS DEVELOPMENT/PROJECT ANALYST
PROCUREMENT ANALYST
Analyze new commercial opportunities. Project evaluation, scenario analysis and economic and financial modeling.
Analyze energy procurement (electric, natural gas, other fuels) for utilities, government, corporations
SCHEDULER/MARKETER
PLANNING ANALYST
Markets production to wholesalers, distribution companies, and industrial consumers. Manages gathering and transportation contracts.
Analyze trends affecting energy markets, including long term supply and demand, regulatory environment, sector analysis.
CREDIT/CONTRACT ANALYST
REGULATORY ANALYST
Analyze counter-party credit and performance risk in support of commercial activities.
Assess impact of regulatory changes at local, state and federal level to impact legislation and educate various stakeholders.
$76,000
AVERAGE STARTING SALARY
May 2018
97.5%
PLACEMENT RATE May 2018
REPRESENTATIVE COMPANIES Apache Basic Energy Services BP Chevron Citibank Concho Resources ConocoPhillips Energy Transfer Partners
Enlink Midstream Enterprise Product Partners EOG Equinor Hilcorp Marathon Mewbourne Oil Occidental Petroleum Corp.
Ovintiv Phillips66 Pioneer Natural Resources Plains All American Pipeline SM Energy Southwestern XTO
For more information contact kellie.estes@ttu.edu | 806.834.2046 M10Y2020
ENERGY COMMERCE
TEXAS TECH
The Center for Energy Commerce at Texas Tech University is proud to provide the energy industry with the next generation of business leaders through our B.A. in Energy Commerce program. Started in 1982 and originally known as the Petroleum Land Management (PLM) program, our Energy Commerce program has grown exponentially over the years. The classroom and service learning education at Texas Tech, coupled with the internship experience provided by industry, provides our students with unparalleled exposure to the business of energy. Permanent faculty dedicated wholly to teaching the business of energy is the unique hallmark of our program.
CENTER In addition to housing the Energy Commerce degree, The Center for Energy Commerce manages alumni, employer and industry relations and also sponsors student organizations, the World Energy Project and the Schuetzeberg Lectureship series. The center’s staff also coordinate scholarship awards, industry outreach and education and special events such as Charm and Alarm schools, senior banquet, NAPE and other student travel opportunities.
MEET THE INDUSTRY Exclusively for Energy Commerce majors, Meet the Industry is a premier opportunity for students to explore job and internship positions with over 25 energy companies. Held over three days in August, companies have the opportunity to present to all eligible Energy Commerce majors in a round robin format. Companies return for on campus interviews in September. Companies do not have to participate in Meet the Industry in order to interview on campus. However, due to the fact that almost all Energy Commerce majors attend, Meet the Industry is a prime opportunity to recruit top energy talent and corporate participation is highly recommended.
RECRUITING The Rawls College of Business has a Career Management Center (CMC) dedicated exclusively to serving students studying at Rawls College. The Center for Energy Commerce partners with the CMC to connect employers to interested and qualified Energy Commerce students.
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BIOGRAPHY BRAD EWING PROFESSOR C.T. MCLAUGHLIN CHAIR OF FREE ENTERPRISE Brad specializes in the study of energy economics, operations, macroeconomics, forecasting and econometrics. He has published over 150 peer reviewed research articles, received grants from the National Science Foundation, U.S. Department of Commerce/National Institute of Standards and Technology, the U.S. Department of Energy, and numerous other sources, and is regularly engaged in consulting as a principal of the Ph.D. Resource Group, LLC. His articles have appeared in prestigious academic journals such as The Energy Journal, Energy Economics, Energy Policy, Review of Economics and Statistics, Energy Sources, and the Journal of Risk and Insurance. Brad received his doctorate in economics from Purdue University. Courses taught: Energy Finance and Energy & Environmental Economics
JEROME SCHUETZEBERG ASSOCIATE PROFESSOR OF PRACTICE Jerome has been teaching Oil & Gas Law and Business Law at Texas Tech for over 40 years. He received his B.S. in AgEconomics at Texas Tech University and then his Doctor of Jurisprudence degree from the University of Texas School of Law. After a brief but memorable career in the office of the Lubbock County District Attorney, he entered private law practice in 1967. In 1968, he began teaching Oil and Gas Law at Texas Tech on an adjunct basis. Drawing on over 40 years of experience in pipeline construction, ownership of stripper wells and attorney for independent producers, Jerome brings a wealth of practical experience to the classroom to complement his academic training. Courses taught: Oil & Gas Law I and Oil & Gas Law II
RUSSELL MCINTURFF ASSOCIATE PROFESSOR OF PRACTICE Russell has over 30 years of active involvement in the oil & gas industry as a landman and attorney. He has worked as an independent landman, in-house at Exxon Corporation and in private practice where he covered a broad range of energy transactions including farm-outs, JOA’s and unitization. Russell received his B.S. in Education from Texas A&M, his Doctor of Jurisprudence from Texas Tech University and served six years as a U.S. Air Force pilot. He is a Fellow with the Texas Bar Association, member of AAPL, member UMC Foundation Board of Directors, member Permian Basin Landman Association and a member of the Oil, Gas and Energy Resources section for the State Bar of Texas. Courses taught: Petroleum Land Management and Exploration & Production Techniques
NIKKI KANTELIS ASSISTANT PROFESSOR OF PRACTICE Nikki has extensive domestic and international experience in the mid-stream and downstream sectors of the oil and gas industry. She began her career with British Petroleum as an Operations Planning Analyst in Crude Trading and Transportation. She became Manager, Crude Futures Trading where she was responsible for crude oil futures strategy and trading in support of BP’s US multibillion crude trading activity. Nikki was then seconded to London to work on BP’s international crude oil trading business. When she returned to the U.S. she was promoted to Controller/Manager of Pipeline Accounting
and Administration and then promoted to VP, BP Oil Pipeline Company and Commercial Manager. Nikki received her B.S. and M.S from Colorado State University and her MBA from the University of Minnesota. Courses Taught: Energy Markets, Energy Analytics & Strategy and Energy Quantitative Methods, Energy Power Markets & Trading
JEREMY MARTIN ASSISTANT PROFESSOR OF PRACTICE Jeremy joined the Energy Commerce program in 2018 after almost 10 years in the energy industry, all of which he spent at Southwestern Energy. While at SWN, he oversaw assets in Arkansas, Colorado, West Virginia and Pennsylvania. A 2009 graduate of the Energy Commerce program Jeremy also received his law degree in 2014 from the University of Houston where he graduated Magna Cum Laude. Jeremy is a member of the State Bar of Texas, AAPL and RMMLF. Courses Taught: Energy Industry Fundamentals, Energy Systems, US Energy Policy & Regulation, Senior Seminar
CHARLES FRISBIE INSTRUCTOR Charles began his career with Gulf Oil Corporation in 1980 as a landman in Midland, TX. Upon Gulf’s merger with Chevron in 1983, he held positions of increasing importance, eventually becoming the Permian Basin Land Manager. In 2004, Charles moved to Houston and was named Land Manager for Chevron’s MidContinent/Alaska Business Unit in 2006. Charles earned a Bachelor of Science in Education degree from Texas Tech University and a Master’s of Education degree from the University of North Texas. He also holds Certified Professional Landman and Environmental Site Assessor certifications. Charles is a member of the AAPL and the Permian Basin Landmen’s Association. Courses taught: Oil & Gas Agreements I, Oil & Gas Agreements II and Basic Land Practices
KELLIE ESTES DIRECTOR, CENTER FOR ENERGY COMMERCE Kellie joined the Center for Energy Commerce in 2007 as the Program and Development Coordinator and is now Director. She focuses on corporate and alumni relations, recruiting and development, scholarship and center operations. She is also in charge of the Energy Seminar Series, monthly student lunch and learns, Charm & Alarm Schools, Senior Farewell and numerous other events throughout the year including Center and student participation at NAPE. Kellie also represents the Energy Commerce program at AAPL Landman Scholarship Trust & Education meetings. Following graduation from Syracuse University, Kellie moved to Austin where she lived for several years before moving to Lubbock in 2003.
For more information contact kellie.estes@ttu.edu | 806.834.2046 M10Y2020