Placid Oil Company Work Values

Daily Duties at Placid Oil Company:

All company owned oil, gas, mineral and surface interests (nationwide) as well as all leasing, buying, supervising Brokers, negotiating, drafting all agreements, including rights-of-way, easements and surface use through execution in Placid’s areas of interest and/or activites in East Texas, Texas Gulf Coast, mid-continent and West Texas. Placid Oil Company has exploration and production properties in the United States Gulf Coast, Canada and the Netherlands. Placid Oil’s primary responsibility was to supply Placid Refining Company, LLC with oil and gas. Placid sold to Occidental Petroleum Corp. (“Oxy”) in December 1994 and is now a now a subsidiary. Placid Refining Company LLC is an independent, privately owned company located in Port Allen, Louisiana, directly across the Mississippi River from Baton Rouge. The Port Allen refinery is the company’s only manufacturing facility. All marketing and other business transactions are conducted from headquarters/offices at the refinery. The refinery produces transportation fuels which are distributed across the Southeastern United States - from Louisiana to North Carolina. The refinery also produces military jet fuel that is used in the United States’ defense efforts. Independent refiners, such as Placid, play a critical role in the nation’s economy and are an important source of transportation fuels for independent jobbers and retailers. Each morning at 7:00 a.m., Placid held an “operations” meeting for all key personnel involved in an area, or prospect, where a well was being drilled or planned to be drilled. The purpose of this meeting was to make sure everyone (Geologists, Geophysicists, Landmen, Engineers, Field Personnel Managers, Accountants and Economists) were on the “same page” so that the timing of operations and expenditures could be done in the most cost efficient manner. Once every two weeks, an “exploration” meeting was held and attendance was required for all exploration personnel. After the morning meeting, I would correspond with all Field Brokers to get updates on their activity, discuss strategy and discuss our progress in the areas we were working. I would then go through my mail, sort and distribute accordingly, update my worksheets tracking our activity and expenses in my areas of responsibilities. I was responsible for all Placid owned mineral, royalty and surface interests, therefore, all requests/proposals from any third party would be reviewed by me. I would then research Placid’s records to determine the exact percentage interest owned in the area, review all nearby leasing and drilling activity, prepare plats showing Placid’s interest as well as other owners and activity, its proximity to industry activity then prepare a written summary/synopsis of the third party request/proposal. This information would then be circulated throughout the company for review, comments and approval and then returned to me for final action. The “final action” would be to advise the third party that their request/proposal was rejected, rejected subject to Placid’s counter-proposal, approved “as is” or approved subject to certain conditions. If a deal was consummated, I would then prepare all pertinent agreements, obtain execution and then make sure that Placid’s internal database, including lease and contract records and maps, were updated accordingly. The remainder of each day was typically spent hosting or attending meetings with other companies to discuss or review deals being offered in the industry, answering and returning phone calls, reviewing title and drafting documents needed to finalize deals.

What they like about Placid Oil Company:

Organizations with strong, centralized leadership are particularly attractive to you. You require a work environment with leadership that aggressively seeks to expand and grow the business and does so in a visible and decisive manner. In general you prefer to work in an environment in which there is a strong link between leadership, its actions, and a strong set of company-wide values.

Tags

Skills

Microsoft Office Suite 2010, Adobe, LandPro, MapPoint, Tobin Maps, Railroad Commision of Texas, SLAM Lease Management & Mapping System, Negotiation & Management, Acquisitions & Divestment, Title Opinion Review & Curative, JOA's, Leases, Assignments, Unit Agreements, Communitization Agreements, Purchase & Sale Agreements, Adobe, Drafting & Preparing Documents

These are some of the questions we asked our climbers about their experiences with Placid Oil Company: