American Oil and Gas Reporter - February 2016 - 80

ConventionSection: Texas Independent Producers & Royalty Owners

and industry representatives. Some of
their presentations will strive to help attendees make sense of current conditions,

TIPRO Annual Meeting
San Antonio, Tx.
Monday, Feb. 22
10 a.m. Registration Opens, Grand Hyatt
Hotel
1 p.m. Welcome Address, TIPRO Chairman
Raymond James Welder
1:15 p.m. Opening Remarks, Texas House
of Representatives Speaker Joe Straus,
R-San Antonio
2 p.m. "Oil Markets Out of Balance: The
How and When of the Return to Normalcy," Bob Brackett, Sanford Bernstein
3 p.m. Federal Perspective on Oil and
Gas, Congressman Mike Conaway, RTx.,
3:30 p.m. Break
3:45 p.m. "Changes at the Railroad Commission: Meet the Candidates Forum,"
Wayne Christien, Gary Gates, Rick Ingram and Kenny Jordan, BP America,
Lance Christian, John Greytok, Ron
Hale, Weston Martinez, Lon Burnam
and Mark Miller
5 p.m. Welcome To San Antonio Networking Reception

Tuesday, Feb 23
8 a.m. Registration Opens, Grand Hyatt
Hotel
8 a.m. Membership Breakfast
"Texas Oil and Gas Property Tax-Processes and Pitfalls," Damien Larson, Myska
& Vandervoort
8:45 a.m. Membership Meeting
9 a.m. "America and Texas: An Era of
Great Political Disruption," Matthew
Dowd, Political Analyst
10 a.m. CISR/Seismic Discussion, Peter
Hennings, University of Texas Bureau
of Economic Geology
11 a.m. OSHA Safety Rules and Enforcement
12:30 Keynote Luncheon
Speaker: Harold Hamm, Continental Resources
2 p.m. A Service Company Perspective,
W. Stacey Locke, Pioneer Energy Services Corp.
3 p.m. Economic Update, Glenn Hegar,
Texas Comptroller
5:30 p.m. President's Reception
7 p.m. Chairman's Dinner
2016 Hat's Off! Award Presentation to
Representative Drew Darby, R-San Angelo

Wednesday, Feb. 24
8 a.m. Audit Committee Meeting
10 a.m. Board of Directors Meeting
80 THE AMERICAN OIL & GAS REPORTER

which Welder insists include artificially
depressed prices. "We hear noise about
China no longer using record amounts of
oil, but the underlying numbers show
China and the rest of the world continue
to want more oil," he assesses. "Demand
is not falling, despite what the market
commentators imply. World oil usage is
at a record high, and the industry has
done a fine job of meeting that supply.
Now we need to batten down the hatches
and supply the market with oil at a profitable price."
Welder recounts how he joined TIPRO
in 1999, another period in which bleakness
pervaded the industry's mood, even as
the market offered companies a number
of rare growth opportunities. "Ironically
enough, it was no time to be worried,"
Welder recalls. "It was a time to refocus
and concentrate on projects that were
economic. I think our members are doing
that now. The industry, especially Texas
independents, may include the most adaptable people on Earth. Our members know
how to roll with the punches. Certainly,
our cash flows are horrible, but on the
other hand, during my career I have never
seen more opportunities than I do right
now."
Given market uncertainty and various
analysts' divergent predictions-including
many whose prognostications have proven
wrong before-gaining an accurate sense
of market direction and potential developments is crucial, suggests TIPRO President Ed Longanecker.
"We have a long list of respected state
and federal leaders addressing policy, political and regulatory issues facing the
industry," he says. "It is more important
than ever that everybody come together
and try to determine what our industry is
going to do. We can learn from one
another about best practices, how companies are driving greater efficiencies,
and what technologies, techniques and
strategies companies are employing to
get through this downturn."
Annual Convention
Registration for TIPRO's 70th Annual
Meeting begins at 10 a.m. on Feb. 22,
which also is when the exhibit hall will
open. Welder's welcome address kicks
off the sessions at 1 p.m., and Texas
House Speaker Joe Straus, R-San Antonio,
will speak shortly thereafter, Longanecker
details.
At 2 p.m., Bob Brackett, senior vice

president and senior analyst at Sanford
Bernstein, is scheduled to offer a talk
that is titled "Oil Markets Out of Balance:
The How and When of the Return to
Normalcy." Brackett has been ranked as
the top analyst for the past three consecutive years by Institutional Investor, Longanecker notes. "Brackett is an incredible
source for market analysis," Welder comments. "He does not have a dog in the
hunt so to speak. He gives a very clear
and unbiased view of the markets, which
the TIPRO membership will welcome."
The afternoon's scheduled presentations
also include Congressman Mike Conaway,
R-Texas, who will discuss federal issues
pertinent to oil and gas producers, as
well as a Texas Railroad Commission
candidate forum, Longanecker reviews.
"Chairman David Porter has decided not
to seek re-election, so we have 10 or 11
potential candidates," Longanecker says.
"We have invited all of them to come to
the conference, meet our members, take
questions and talk about their priorities
and backgrounds."
The day concludes with a Welcome
to San Antonio Networking Reception at
5 p.m. that will give members and guests
the opportunity to form new business
connections, Longanecker says. "Some
people are looking to sell their companies,
and others are looking for deals in this
downturn," he says. "It is a good time to
pick up assets for a reasonable price."
On Feb. 23, registration and a membership breakfast are scheduled to begin
at 8 a.m. Pat McKinnon, senior director
at Euler Hermes, is scheduled as the
breakfast speaker.
Following breakfast and a membership
meeting, political analyst Matthew Dowd
will offer an address that is titled "America
and Texas: An Era of Great Political Disruption." Longanecker describes Dowd
as a respected political analyst and notes
he is a frequent contributor to ABC News
and a former staffer on the Bush-Cheney
campaign.
"He considers himself an independent,
so he is going to speak on both sides of
the aisle from a political standpoint,
giving his projections on how different
scenarios may play out and what it means
for Texas, the country, and the oil and
gas industry," Longanecker relates.
Welder suggests Dowd is the ideal
speaker to give an up-to-date analysis of
the tumultuous political season. "He is
one of the better commentators on the
national scene and he will be an inform-

American Oil and Gas Reporter - February 2016

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