Jennifer Greenwell is the Manager of Marketing at Nadel and Gussman. Nadel and Gussman is an independent Tulsa-based oil and gas producer with assets in the Midcontinent Basin, the Permian Basin and North Louisiana. Jennifer was born and raised in Tulsa, Oklahoma. She has been with Nadel for 12 years and has worked in the upstream-side of the business for a total of 25 years.
Why did you get involved with the 2nd annual Permian Basin markets & Takeaway Infrastructure Congress 2013?
My decision to participate is based on the positive feedback and encouragement I received from my peers after speaking atanother ABC conference, their Mississippi Lime and Anadarko Midstream event, held in Oklahoma City earlier this year. By participating as a speaker at that event as opposed to sitting in the audience, I was able to widen my network of contacts to include industry leaders that I may not have been able to meet or get to know otherwise.
What are the most exciting points about the midstream developments in the Permian Basin?
For me, this boom conjures up images of the early bootstrap businesses of the first Permian Basin boom in the 1920’s. Fastforward to today and you can still find pioneers in this industry. Similar to past oil booms, it’s the inquisitive people with fortitude and an almost naïve willingness to try new, yet-to-be-proven techniques and technologies who are moving us forward towards energy independence.
In your opinion, what are the main challenges of handling crude from the Permian Basin?
I think the number one hurdle to overcome on the crude side of the business is the ability to recruit, train and retain qualifiedtruck drivers. We have to find better, more creative methods of assessing value to this essential part of our business. I think it’s obvious that just increasing base salaries isn’t working.
With that in mind, what are the most important opportunities for the developments of the midstream industry in the Permian Basin?
The influx of NGL takeaway features prominently on my list of great opportunities. While it may appear that the ship has sailed in respect to the basis upside for Conway vs. Mont Belvieu, I think those projects will continue to realize additional value by virtue of creating greater/wider accessibility to agrowing export market that includes emerging economies like India and South America.
In your opinion, how long is it going to take the full development of the midstream infrastructure in the region and what are the regulations needed to make this happen?
That’s a tough question. Production volumes and the quality of that production shifts from one region to another, depending on pricing, basis and theimplementation of new technologies. I heard a great analogy from Tony Knowles with the National Energy Policy Institute that applies. He said energy policy has been like the Whac-A-Mole arcade game. You whack one problem, resolve it…and another one pops up. Same goes for the expansion of infrastructure. As for the regulatory side of the business, I believe the energy industry is going to have to move towards more transparency. Progressive
energy policies and regulations that encourage the exploration of emerging oil and gas plays will not prevail in an environment of fear and distrust.
What is the most needed – takeaway or processing infrastructure to fully develop the production in the Permian region?
I weigh processing infrastructure heavily in that equation. I think the demand for higher NGL recoveries, more efficient gathering systems and greater
downstream flexibility starts with new processing infrastructure.
What will you be sharing with us at the conference?
I’m planning to provide an overview of how existing and projected Permian Basin drilling is exerting pressure on both the pricing of NGLs and residue
as well as the development of midstream infrastructure.
What are you most looking forward to and would you most like to gain from participating in this Congress?
As someone on the upstream side of the business, I am always interested in the evolution of the downstream. Learning how midstream is planning to
meet the demands for higher NGL recoveries, where they plan to make their gathering assets more efficient and when the pipelines will be poised to
offer greater market flexibility are all key to improving my job performance.