Petroleum Accountants Society of the Permian Basin
This April, Endeavor CEO Lance Robertson graciously delivered a dedicated presentation to PASPB. PASPB President Elizabeth Leyva-Pacheco (EER Revenue Accountant) stated, “Having our own CEO take the time to speak at one of our luncheons is huge. It means so much to the PASPB organization to have that level of involvement from a company. I’m thrilled that Endeavor was selected to receive the Employer of the Year award! It is a well-deserved honor for the incredible dedication Endeavor has shown to PASPB this year.”
At their May luncheon, the Petroleum Accountants Society of the Permian Basin (PASPB) honored Endeavor with the PASPB 2021-22 Employer of the Year Award. The PASPB Board of Directors vote annually to select a company for this distinction. Judging criteria for the award includes 1) the number of company employees who participate in PASPB, 2) the level of involvement in and attendance at PASPB events, and 3) representation in PASPB board and committee chairs.
The EER Accounting team has been instrumental in furthering the PASPB mission and strengthening the organization. Endeavor boasted employee participation accounting for about one-third of the total membership. The EER team also regularly attends monthly PASPB luncheons and supports the society’s events, such as PASPB’s Education Day. Finally, many Endeavor team members have been elected as PASPB officers, including Elizabeth Leyva-Pacheco, Matthew Hayward, Leslie Parra, Lacey Warren, and Nancy Zheng.
In addition to encouraging PASPB membership, Endeavor leadership has provided notable support to the society. Endeavor generously provided the facilities to hold the Board and Committee luncheon meetings at EER’s downtown location. For EER employees seeking additional accounting knowledge and insight, EER leadership approved covering their attendance costs for PASPB’s Fall 2021 and Spring 2022 Education Days.
About PASPB: PASPB has a membership of 120+ accounting professionals representing more than 40 companies. They regularly hold meetings and educational opportunities for members. To learn more, visit www.paspb.com.
Endeavor CEO Lance Robertson Speaks to Petroleum Accountants Society of the Permian Basin
The Petroleum Accountants Society of the Permian Basin (PASPB) hosted their April luncheon at the Midland Country Club featuring a keynote from CEO Lance Robertson.
In his presentation – “Permian Endures & the Speed Bumps in the Middle” – Lance outlined three focuses: 1) macro market views related to changes in supply and demand since COVID; 2) energy security and why it matters more than ever; and 3) the Permian’s place in the world today and in the future in light of industry challenges that are different than any in recent time.
Discussing the macro market, Lance stated, “global demand is surprising to the upside, but the surprises keep coming.” He noted that “the world desires mobility” and “the demand for oil and gas is only increasing in underdeveloped countries. Energy is the single-largest driver of moving people out of poverty for the last 150 years.”
Moving on to energy security, “the US is the only developed country who can support our oil and gas needs…we are more or less self-sufficient,” Lance remarked. Labor shortages, oil price, and exploration and production investment trends were also highlighted as impacting energy security.
Lance praised US oil and gas energy for being clean energy. “Nobody works harder than US oil and gas companies to produce clean energy. We work very hard to be responsible for our country and our communities.”
Data was presented forecasting continued Permian growth. “There is only one growth-basin in the US. We’re standing in it. The Permian is an engine,” Lance said. One historic shift he noted in US oil and gas operations is the switch to large, private Permian operators, who now account for 40-45% of capital activity. “What we can do here can’t be done in any other place. Multi-decade drilling inventory for many of the Permian Basin’s most active operators will ensure strong results and growth for years to come.”
Touching on EER-initiatives to continuously improve the industry’s productivity, Lance highlighted Endeavor’s water recycling and the Brown Yard’s Operator-Led Response Team (OLRT) addressing the Midland Basin’s seismic response area. “The industry is coming together and learning how to do things better and more thoughtfully.”
Speaking on the Permian’s future, he summarized, “We are going to be busy. The Permian is the most economical, cleanest, and has the best infrastructure to support our industry. Our exports will fill energy demand or no one else in the US will. Stay the course. It’s going to be bumpy, but we can do a lot at $100/bbl oil.”
Focused on the future, Lance closed with, “We’re going to invest and operate responsibly. Oil and gas companies are going to be a vibrant part of the US market for decades. We are fueling the future of others and improving living standards of people for years to come.”
Endeavor is strongly represented in PASPB leadership roles, including the board and committees. PASPB has a membership of 120+ accounting professionals representing more than 40 companies. They regularly hold meetings and educational opportunities for members. To learn more, visit www.paspb.com.
Endeavor Sponsors CPA2B Bootcamp to Help Future CPAS Succeed
The accounting profession continues to experience growth with high demand for CPAs, and Endeavor was pleased to participate in the Permian Basin Chapter of the Texas Society of Certified Public Accountants’ (TXCPA) CPA2B Bootcamp. This one-day program took place at the University of Texas Permian Basin and provided students with resources to be competitive candidates as they prepare to enter the workforce upon graduation.
While the bootcamp spans only one day, the program empowers students in attendance with career resources and face-to-face time with local CPAs who can provide continued guidance and mentorship. Bootcamp attendees walk away from the experience with a deeper understanding of CPA credentials and the skills needed to be positioned as top talent when entering the workforce.
“During Bootcamp, students are empowered with career resources, success skills, and face-to-face time with local CPAs who can provide continued career guidance long after the experience is over,” said Elizabeth Leyva-Pacheco, revenue accountant for Endeavor and President of the Petroleum Accountant Society of the Permian Basin (PASPB). ”It’s an honor to contribute to the future success of students pursuing a CPA career in our industry’s growing marketplace.”
Endeavor looks forward to continuing our support for Permian Basin CPAs through CPA2B Bootcamp. To learn more, visit the TXCPA Permian Basin’s website.