Energy Matters- Tim’s Take November 11, 2014 Tim Fisher- Bakken Energy Service Inc

First of all my sincere thanks to all of those who have served in the armed forces of the United States of America. God Bless you all and Master Sargent William H Fisher my dad… Thank you for serving in Korea and being as good a man out of uniform as you were in.

My goal is to give the residents of the Bakken and anyone next to a rail road a little comfort on the progress of tight oil stabilization or what we refer to as Bakken Oil stabilization. In the same breath I am going to plead with the state of North Dakota if they truly want to help must make major changes in their tax policies.

I am grateful to Energy Matters  AM 50 for first asking me to be a part of the show and then being flexible in allowing me to be on when possible. One of the main reason I continue the program is my hope in bringing more insight to the public into many tough issues the gas and oil industry face.

I am fortunate to get a seat at many tables with many influential industry CEOs, Presidents    and production planners. It is in these meetings I am always reminded that the government has a role to play in the industry but for the most part the government is to collect taxes from the oil and gas companies’ revenue.

And as politicians   talk, the oil and gas companies are already far ahead of them in providing the money and talent needed to make their industry and those they serve a better place.

Too often I feel the state and federal officials think improvements in safety, the environment   , and workers security happen because they talk about it or threaten to mandate it. The truth is actually 180 degrees. The gas and oil companies always want what is best for the environment, their workers and the communities they operate in.

So now, here is my challenge to the state and federal government. If you are truly concerned with flaring and the stabilization of tight oil i.e. Bakken crude then give all the oil and gas companies a tax holiday on any and all gas captured,  stripped and or sold as a bi-product of tight oil. It cost approximately $60 million just to build a 100,000 barrel a day  stabilizing facility not taking into consideration the cost of operations for about $35 million in revenue $3.5 in gross profit and loss at the end of the year.

Here is why:  by the time we pay the 28% tax and gas royalties we lose money! You want us to spend our shareholders money and or our private equity on capturing a gas or stripping a gas that we lose money on. If you are serious then stop the taxing this bi-product and be satisfied with the huge windfall you receive from oil.

I know what the process costs and the bottom line is there is little to no money in it. Add in the dramatic fall in the price of oil and “Houston, we have a problem”

So I asking the North Dakota Industrial commission to work with Senator Rich Warden to call a special session and introduce a bill that will give gas and oil companies a tax holiday on any and all gas collected. Otherwise you may find 700,000 less barrels    of oil leaving ND each day because of a lack of stabilization.

And that is my take. 

Bakken Energy Service Members’ Conference Call

Bakken Energy Service continues its monthly membership conference calls.

Bakken Energy Service knows when many gather having a common goal ,  great outcomes are likely. During our conference call the topic of the Bakken Energy Service Mission and Values Statement was discussed. As the team grows, we must make sure we are all striving for the same goals which are directly tied to our Mission and Values Statement. As BESTeam, we are collectively producing this most important assignment map.

The original Mission of Bakken Energy Service was “To provide oil and gas energy companies with single sourcing for their multiple service needs making it more convenient and effective  for procurement and project leaders to accomplish their energy goals in a safe and efficient manner.”  I am sure, as we mature as a company, so will the values we all aspire to.

Please find below some of the Mission and Value Statements of those we serve:

Chevron  Mission Statement:

At the heart of The Chevron Way is our Vision to be the global energy company most admired for its people, partnership and performance.

ConocoPhillips  Mission Statement:

 Use our pioneering spirit to responsibly deliver energy to the world.

Enbridge Energy Partners Mission Statement

 Enbridge Energy will go beyond by building on our pipeline expertise, technology and people to be the company of choice for transportation of hydrocarbon energy and related services.  As President of Enbridge Energy Company, Inc., I am committed to the enduring values of integrity, accountability, innovation and flexibility, value creation and social responsibility. Today, these values are more important than ever to our stakeholders. We are a wholly owned subsidiary of Enbridge Inc. and the direct or indirect operator of systems owned by Enbridge Energy Partners, L.P. (the Partnership). We strive to be a model of safe, reliable and economical transport of hydrocarbon energy products. With continuous operational improvements, expanding capacity and a strong competitive position for serving strategic North American markets, we are positioned for long-term growth that will benefit our customers and investors.  Dan C. Tutcher President Enbridge Energy Company, Inc. General Partner of the Partnership

Exxon Mobile Mission and value Statement:

Exxon Mobile is committed to being the world’s premier petroleum and petrochemical   company. To that end, we must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards.

Hess Values Statement:

Hess values reinforce our commitment to traditional Hess strengths, and they underscore our focus on the qualities that help define us as a leading global independent energy company. Six core Values guide our actions as individuals at work and as a corporation: Integrity, Independent Spirit, People, Performance, Value Creation, and Social Responsibility.  These Values are the basic building blocks of our organization’s culture. They represent the company’s collective conscience. By making Values at Hess explicit, helping everyone understand them, and embedding them in our organization, we enable all employees to work in unison to achieve our business goals.

 Marathon Oil Mission Statement:

 We are responsible to the communities in Exxon Mobile is committed which we live and work and to the world community as well. We must be good citizens–support good works and charities and bear our fair share of taxes. We must encourage civic improvements and better health and education. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources.

 CVX‎ – Chevron Corporation (NYSE) ,  COP‎ – ConocoPhillips MRO‎ – Marathon Oil Corporation (NYSE)

Bakken Energy Service will continue  its monthly membership conference calls.

BESTeam Conference Call a great success

It never ceases to amaze me what real TEAM WORK can accomplish. On Tuesday we held our first, of many to come , BESTeam Conference Call.  It was an opportunity for many of the BESTeam members to introduce themselves, their companies and simply share in like
goals. The power of a TEAM is a strength that individual players simply cannot reach.  When  I was working towards my MBA in international business one of the professors put a mathematical equation  on the screen and it was a true or false answer.

Here was the equation:    A+B+C=X  is equal to A+B+C+D-D=X
In mathematical terms the answer is true  1+2=3  is equal to  1+2+4-4=3 . But, in business terms where people, companies, ideas, thoughts, or  positive energy someone brings by simply walking into a room can never be discounted. Now let’s swap   companies for numbers on a telephone conference call +  + =SUCCESS.

But now let’s add  to the equation.  Cindy Todavich calls in but after a few minutes needs to drop off the call. What Cindy brought to the group can never
be taken away even if she is not  present at the moment. +  +
+ = Even Greater  SUCCESS.

Imagine what we accomplish when we also add + +  +  and others who will be part  of the TEAM!

Thank you Professor for your wisdom,  and thank you Bakken Energy Service   Members for making the conference call a great success. Merry Christmas and Happy Holidays, 2012 is going to be a great year and I know we do have the BESTeam in the oil and gas industry!