Dallas, Aug. 03, 2018 (GLOBE NEWSWIRE) -- The North Texas, Wichita Falls and Permian Basin regions have become national and international epicenters for energy finance and activity, and the first-ever D CEO Oil and Gas Awards: North Texas to the Permian Basin will celebrate the individuals and organizations leading innovations in the upstream, midstream, services, and finance sectors.
The awards gained momentum thanks to the work of several leaders within the Texas Society of CPAs’ (TSCPA) Dallas, Fort Worth, Wichita Falls and Permian Basin Chapters, along with industry influencers from Financial Executives International Dallas Chapter and the Maguire Energy Institute at SMU. The group recognized that alternative financing approaches and private equity involvement in North Texas, Wichita Falls and Permian Basin oil and gas have exploded in growth over the last few years.
This appetite for creative deal financing across the region, and rapidly expanding technology that is transforming the industry, inspired the theme of the awards, “North Texas to Permian Basin Oil & Gas: Innovation Sets Us Apart.”
The positive reaction to the effort has exceeded anything the organizers ever imagined, according to Willie Hornberger, CPA, partner at Jackson Walker in Dallas and past chairman of TSCPA.
“The overwhelming support from the region is so energizing,” Hornberger said. “And I’ve already received inquiries from investment bankers in New York wanting to know more about this initiative.”
“The economic impact of oil and gas and energy finance to North Texas, Wichita Falls and the Permian Basin is huge, and energy finance transactions emanating from these areas affect markets around the U.S.,” Hornberger said. “There is no doubt that the November 2018 issue of D CEO will make its way to desks in New York, across the country, and around the world.”
“With changes in technology, an incredible economy, and recent tax reforms, we’re primed to see billions of dollars in new investment come in from outside the U.S., and a lot of that will be directed to North Texas, Wichita Falls and the Permian Basin,” said Tim Pike, CPA, chair of the 6,500-member Dallas CPA Society. “Private equity firms are stepping up their investment in oil and gas and finding creative ways to get deals done in the region, and these awards will recognize that.”
“We saw record production levels in the Permian Basin in 2017 with forecasts from IHS Markit that these production levels could more than double in the next five years,” said Ryan Bartholomee, CPA, CFO at Shenandoah Petroleum Corporation and TSCPA Executive Board member. “At 5.4 million barrels per day, we would be the third-largest oil producing region in the world behind only Saudi Arabia and Russia. The amount of investment and innovation in the Permian Basin makes this an amazing time to be a part of the energy industry. Celebrating the creativity and accomplishments of others and connecting people and potential opportunities are what makes this effort with D CEO so exciting.”
Allyson Baumeister, CPA, Principal – Tax Leader of CliftonLarsonAllen Fort Worth, a former chair of TSCPA, and the current chair of the Fort Worth Chamber of Commerce added, “The business activity that we are seeing right now in North Texas is unprecedented. The November issue of D CEO will allow all of us in North Texas to tell our story to the world.”
"Dallas Young Professionals in Energy is proud to join this exciting initiative," said John Sabo, President of Dallas YPE. "Our members are passionate about bringing together the next generation of leaders in the energy industry, and this program is a great opportunity to recognize young leaders in particular who are making a difference."
“The excitement behind this initiative is an indication that Dallas-Fort Worth and surrounding areas are primed to continue their significant impact on oil and gas markets around the U.S. and world,” said Christine Perez, Editor of D CEO, the organizer of the awards.
“Technology continues to transform the oil and gas industry, and the North Texas region is at the center of that transformation,” according to D CEO. “These new awards will help us put a spotlight on the companies and leaders driving the economy of the region and nation through their leadership and innovation.”
The awards will honor CEOs of the year, CFOs of the year, and innovators of the year within the upstream, midstream, services (including technology companies), and oil and gas finance areas. Additionally, the awards will recognize a rising star and lifetime achievement honoree for their impact across all sectors.
Title sponsors of the awards include Jackson Walker LLP, Opportune LLP, International Bank of Commerce and BKD LLP.
Organizations from around the region including the Maguire Energy Institute at SMU, the Institute of Petroleum Accounting at the University of North Texas, the Energy Management Program at the University of Texas at Dallas, the Texas Alliance of Energy Producers, the Dallas CPA Society, Fort Worth Chapter of TSCPA, Wichita Falls Chapter of TSCPA, Permian Basin Chapter of TSCPA, Women’s Energy Network North Texas Chapter, Financial Executives International Dallas Chapter, Dallas Young Professionals in Energy and the North Texas Commission are supporting efforts to promote the awards and select winners from among nominations submitted by the public.
For more information and to submit a nomination, visit https://www.dmagazine.com/business-economy/2018/07/nominate-d-ceos-2018-north-texas-oil-gas-awards/. The awards will be recognized at a private reception in the fall, and finalists will be profiled in the November issue of D CEO magazine.
If you have questions about the awards or nomination process, please contact Payton Parker at payton.parker@dmagazine.com or (214) 523-5272.
ABOUT TSCPA
The Texas Society of CPAs (www.tscpa.org) is the premiere professional membership organization for CPAs in Texas. Founded in 1915, the society empowers members to lead and succeed by promoting professional excellence, advocating on behalf of CPAs, and supporting a sense of community and connection among its members. Dallas, Fort Worth, Wichita Falls and Permian Basin are chapters of TSCPA. With 20 total chapters and 28,000 members statewide, TSCPA has one of the largest memberships of any CPA society in the U.S.
ABOUT FINANCIAL EXECUTIVES INTERNATIONAL
Financial Executives International (FEI) is the leading advocate for the views of corporate financial management. Its more than 10,000 members hold policy-making positions as chief financial officers, treasurers and controllers at companies from every major industry. FEI enhances member professional development through peer networking, career management services, conferences, research and publications. Members participate in the activities of more than 65 Chapters in the U.S. and a Chapter in Japan.
ABOUT MAGUIRE ENERGY INSTITUTE OF SMU
The Maguire Energy Institute, part of SMU Cox School of Business, encourages the study of management, marketing and policy issues related to the energy industry. Housed on the campus of Southern Methodist University in Dallas, the Institute sponsors several hands-on programs that prepare students for careers in the energy industry, provide focused research for direct business application and inform the public through independent, unbiased information. Seminars, lectures, forums, field trips and other programs offered through the Institute explore the many issues surrounding the energy industry.
YOUNG PROFESSIONALS IN ENERGY
Young Professionals in Energy (YPE) is a non-profit organization with more than 40,000 members worldwide. By providing a forum for networking and career development through social, educational and civic service opportunities, YPE aims to facilitate the advancement of young professionals in the global energy industry. YPE runs a year-round calendar of events in 40 chapters around the world.
ABOUT D CEO
D CEO, the business title of D Magazine, is an award-winning publication that serves Dallas’ most respected business leaders. Its mission is to build community among top North Texas executives through insightful, authoritative, and provocative reports on local companies and the people who lead them. D CEO also covers emerging entrepreneurs – the top CEOs of tomorrow – and provides expert analysis, with regular columns on key topics such as real estate, law, healthcare, and technology.