TIPRO SUMMER CONFERENCE
Close to 200 individuals registered to attend the Texas Independent Producers and Royalty Owners Association (TIPRO) annual Summer Conference, held August 9-10 in San Antonio. The event was headlined by top state officials, including Texas Governor Greg Abbott who provided keynote remarks for the gathering of oil and gas executives and energy professionals. During TIPRO’s conference, Governor Abbott ceremonially signed two energy bills (House Bill 33 and Senate Bill 1017) into law that will protect the state’s oil and gas industry and support the hardworking Texans that power it.
U.S. Senator Ted Cruz (R-Texas) also spoke during TIPRO’s meeting, providing an update on what’s happening in Congress and discussing his concerns about increasing attacks on the country’s oil and natural gas industry from the Biden Administration. Senator Cruz, who was sworn into the United States Senate ten years ago to represent Texas, sounded the alarm to threatening actions by the president against the oil and natural gas industry, including appointments and nominations of cabinet leaders described by Senator Cruz as heavily motivated by shutting down U.S. fossil fuel development. He pointed, as an example, to President Biden’s nominee to lead the National Highway Traffic Safety Administration (NHTSA), Ann Carlson, whose past career and record revealed a clear agenda to go beyond NHTSA’s congressionally mandated mission on vehicle performance and safety standards to turn the agency into a climate change enforcement body. Opposition from Senator Cruz, other federal lawmakers and a coalition of 43 of the most influential oil and gas industry trade groups, led to Carlson’s nomination being pulled by the White House in May. Senator Cruz advised that these kinds of senior regulators the president is hoping to put into positions of power are likely to promulgate more radical and aggressive policies that would be harmful to America’s oil and gas industry and undermine the nation’s national and energy security.
TIPRO’s robust agenda of distinguished speakers also featured a moderated discussion with Texas House Speaker Dade Phelan (R-Beaumont), who reviewed the work of the 88th State Legislature and the important role Texas oil and gas plays in the economic success of the Lone Star State. Speaker, Phelan who hinted at a likely forthcoming third special session this fall focused on education issues, reflected on victories from the state capitol this year that deliver on the priorities which matter most to Texans.
During the TIPRO conference, Texas Railroad Commissioner Wayne Christian also underscored the powerful role of oil, natural gas and fossil fuels the past 100 years to saving human lives, lifting individuals out of poverty and enabling our modern way of life. He told TIPRO’s attendees, “You are the hope for the free world,” especially as Europe faces fall-out from failed green energy policies and energy supply constraints due to Russia’s ongoing war in Ukraine. The commissioner also praised the industry and Texas producers for ongoing progress in recent years on flaring reductions and decreasing emissions.
In addition, oil and gas expert Marshall Adkins, managing director and head of energy for Raymond James, gave TIPRO important insights on energy market conditions and provided an outlook for the oil and natural gas industry heading into next year. Adkins advised limited global supply growth is likely to drive oil prices up heading into 2024. He also noted uncertainty to natural gas pricing trends, though indicated there could be “light at the end of the gas tunnel” which would prop up natural gas prices in the long-term.
Finally, conversations and presentations during TIPRO’s event with EnerVest President and Chief Executive Officer Jud Walker, Jonah Energy President and Chief Executive Officer Thomas Hart, Earthstone Energy President and Chief Executive Officer Robert Anderson, NGP Energy Capital Management Partner Patrick McWilliams and Pickering Energy Partners President Walker Moody illuminated many of the opportunities and challenges facing oil and gas companies today, including access to capital investment for energy projects, as well as innovations in the oil patch and industry best practices driving efficiency and enhancing well productivity.
Thank you again to all attendees and sponsors of the 2023 TIPRO Summer Conference!