American Oil and Gas Reporter - August 2022 - 87

INOGA Event Supports Scholarships
MT. VERNON, IN.-The Indiana Oil &
Gas Association's 2022 Scholarship Golf
Scramble and Picnic drew 170 members
and supporters while raising money for the
group's scholarship fund, INOGA reports.
This year, the group has provided
$16,000 to seven students and made a
$2,000 donation to the Tri-State Desk
and Derrick Trade or Technical School
Scholarship. The 2022 Scholarship Committee,
a panel consisting of members of
INOGA's Board of Directors, is chaired
by Ross Basnett of Campbell Energy LLC
and co-chaired by Stacee Dover with
CountryMark.
INOGA says the scholarship is open
to high school seniors, high school graduates
or post-secondary education students who:
· Have a grade point average of 3.0
or higher on a 4.0 scale;
· Have a financial need determined
by the scholarship committee;
· Plan to pursue a career in the oil
and gas industry;
· Expect to attend an accredited college
in the coming fall;
· Reside in Indiana;
· Seek a bachelor's, with preference
given for Earth sciences, petroleum engineering,
chemical engineering or geology
majors; and
· Submit a short essay that describes
their interest in the oil and gas industry
and which career path the applicant is
planning to pursue.
The event was sponsored by 38 operating,
professional service and support
companies that provide valuable expertise
to the Illinois Basin oil producing community,
INOGA says, adding that the
sponsors can be viewed at www.indianaoga.org/events.html.
LEFT:
John Girot of Warren Service Company, whose 2021 induction into the INOGA
Hall of Fame included a nod toward his skill with the smoker in service to the
association, prepares smoked pork chops for attendees. RIGHT: INOGA President
Brandi Stennett of Pioneer Oil Co. discusses INOGA's scholarship fund.
Along with breakfast, the morning's
events included a scholarship purpose and
sponsorship recognition by INOGA President
Brandi Stennett of Pioneer Oil Company
Inc., a safety announcement by CountryMark's
Phillip Denning, and the golf
scramble. The CountryMark logistics team
took first, CountryMark's information technology
team took second, and the Imperative
Chemicals team took third.
Following lunch, raffles ended the day.
INOGA says Matt Stone with Stone Oil
and Gas Consulting LLC won the First
Gun Raffle for a Henry Golden Big Boy
Colt 45 and one box of ammunition.
The group mentions that the 2022
INOGA Annual Meeting, Trade Show
& Awards Recognition Reception is
scheduled for Thursday, Oct. 13 at New
Harmony Inn Resort and Conference
Center in New Harmony, In. Along with
a trade show hall and half-day of technical
presentations, INOGA says the
event will recognize and celebrate Hall
of Fame inductees, as well as INOGA's
Operator of the Year and Facility of the
Year awardees.
A history of INOGA's scholarships
can be found at www.indianaoga.org/scholarship.html.
❒
PwC:
Deal Activity Likely To Pick Up
LONDON-Oil and gas deal activity
appears likely to accelerate in the second
half of 2022 as buyers learn to trust high
commodity prices, indicates PwC's
midyear outlook for mergers and acquisitions
in oil and gas. Moreover, the firm
suggests, investors who in recent years
have been frosty toward the industry may
be thawing.
Although strong commodity prices
may restrain corporate deals by incentivizing
companies to hold assets, PwC
considers, private players seem more willing
to deploy capital. In some cases, it
suggests, private companies itching to
invest amid a strong commodity price
market may largely skirt material and
labor shortages by instead seeking to
boost output through acquisitions.
Concerns about the economy and
geopolitical unrest slowed deal activity
in the first half of 2022, the firm acknowledges,
but year-over-year deal activity
has remained strong, with a reported
123 deals valued at $107 billion during
the 12 months preceding May 15. The
equivalent interval ending on May 15,
2021 had fewer deals at 98 but a similar
total deal value, the report mentions. It
adds that upstream deals have accounted
for most of this year's transactions, a
trend likely to continue.
More Enticing
PwC notes that West Texas Intermediate
crude prices have increased more than
60% in 2022, while natural gas prices
have more than doubled. " Investors' emphasis
on renewable energy has been
muted by higher commodity prices, resulting
in stronger returns among traditional
oil and gas producers, " the firm relates.
" Some companies have responded
to the higher prices by holding on to
properties they might otherwise have
AUGUST 2022 87
http://www.indianaoga.org/events.html http://www.indianaoga.org/schol-arship.html http://www.indianaoga.org/events.html http://www.indianaoga.org/schol-arship.html
American Oil and Gas Reporter - August 2022

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