Floyd Bates
Vice President of Reservoir Engineering & New Ventures at Millennial Energy Partners- Claim this Profile
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Topline Score
Bio
Brent Smith
As a former member of Floyd's staff at Parsley Energy, I cannot speak highly enough of him and what he brought to our team. Raising the bar for our team, Floyd held us to higher level of expectations. He did this through mentoring, staff training and professional development opportunities. Floyd's leadership skills are exceptional as he truly cares about his staff's morale, success and well being. Floyd is technically astute, driven and always willing to accept new challenges. I would without hesitation recommend Floyd for any role he chooses to pursue.
G. Don Culpepper,Jr
Floyd Bates is a seasoned professional with outstanding business process management skills. He has the ability to quickly identify and turnaround underperforming assets. I found him to be a very trustworthy and hard working executive with the ability to perform at a high level at all times. Floyd is technically strong and has a keen understanding of finance relative to the oil and gas industry. I recommend Floyd without reservation.
Brent Smith
As a former member of Floyd's staff at Parsley Energy, I cannot speak highly enough of him and what he brought to our team. Raising the bar for our team, Floyd held us to higher level of expectations. He did this through mentoring, staff training and professional development opportunities. Floyd's leadership skills are exceptional as he truly cares about his staff's morale, success and well being. Floyd is technically astute, driven and always willing to accept new challenges. I would without hesitation recommend Floyd for any role he chooses to pursue.
G. Don Culpepper,Jr
Floyd Bates is a seasoned professional with outstanding business process management skills. He has the ability to quickly identify and turnaround underperforming assets. I found him to be a very trustworthy and hard working executive with the ability to perform at a high level at all times. Floyd is technically strong and has a keen understanding of finance relative to the oil and gas industry. I recommend Floyd without reservation.
Brent Smith
As a former member of Floyd's staff at Parsley Energy, I cannot speak highly enough of him and what he brought to our team. Raising the bar for our team, Floyd held us to higher level of expectations. He did this through mentoring, staff training and professional development opportunities. Floyd's leadership skills are exceptional as he truly cares about his staff's morale, success and well being. Floyd is technically astute, driven and always willing to accept new challenges. I would without hesitation recommend Floyd for any role he chooses to pursue.
G. Don Culpepper,Jr
Floyd Bates is a seasoned professional with outstanding business process management skills. He has the ability to quickly identify and turnaround underperforming assets. I found him to be a very trustworthy and hard working executive with the ability to perform at a high level at all times. Floyd is technically strong and has a keen understanding of finance relative to the oil and gas industry. I recommend Floyd without reservation.
Brent Smith
As a former member of Floyd's staff at Parsley Energy, I cannot speak highly enough of him and what he brought to our team. Raising the bar for our team, Floyd held us to higher level of expectations. He did this through mentoring, staff training and professional development opportunities. Floyd's leadership skills are exceptional as he truly cares about his staff's morale, success and well being. Floyd is technically astute, driven and always willing to accept new challenges. I would without hesitation recommend Floyd for any role he chooses to pursue.
G. Don Culpepper,Jr
Floyd Bates is a seasoned professional with outstanding business process management skills. He has the ability to quickly identify and turnaround underperforming assets. I found him to be a very trustworthy and hard working executive with the ability to perform at a high level at all times. Floyd is technically strong and has a keen understanding of finance relative to the oil and gas industry. I recommend Floyd without reservation.
Credentials
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Python Data Structures
CourseraJan, 2023- Sep, 2024 -
Programming for Everybody (Getting Started with Python)
CourseraDec, 2022- Sep, 2024 -
Analyze Data with Python Skill Path
CodecademyMar, 2021- Sep, 2024 -
Learn Data Visualization with Python Course
CodecademyMar, 2021- Sep, 2024 -
Learn Statistics with Python Course
CodecademyMar, 2021- Sep, 2024 -
Master Statistics with Python Skill Path
CodecademyMar, 2021- Sep, 2024 -
Visualize Data with Python Skill Path
CodecademyMar, 2021- Sep, 2024 -
Learn Data Analysis with Pandas Course
CodecademyFeb, 2021- Sep, 2024 -
How to Clean Data with Python Course
CodecademyJan, 2021- Sep, 2024 -
Learn Python 3 Course
CodecademyJan, 2021- Sep, 2024 -
Learn Statistics with NumPy Course
CodecademyJan, 2021- Sep, 2024
Experience
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Millennial Energy Partners
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United States
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Oil and Gas
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1 - 100 Employee
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Vice President of Reservoir Engineering & New Ventures
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Feb 2022 - Present
Provided technical reservoir engineering leadership, advising executive stakeholders on business development opportunities using classical techniques such as reserves estimation, data analytics in Python, and production forecasting to recommend optimal mature asset acquisitions and divestitures. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Merge traditional oil and gas workflows with machine learning tools to optimize a $250MM annual budget. Provided technical reservoir engineering leadership, advising executive stakeholders on business development opportunities using classical techniques such as reserves estimation, data analytics in Python, and production forecasting to recommend optimal mature asset acquisitions and divestitures. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Merge traditional oil and gas workflows with machine learning tools to optimize a $250MM annual budget.
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Self Employed
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Real Estate
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1 - 100 Employee
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Consulting A&D Reservoir Engineer
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Aug 2020 - Jan 2022
Leveraged classical and A&D reservoir engineering expertise in techniques such as Nodal, DCA, PVT, and volumetrics-focused Python data analytics to consult for oil and gas clients during COVID-19. Leveraged classical and A&D reservoir engineering expertise in techniques such as Nodal, DCA, PVT, and volumetrics-focused Python data analytics to consult for oil and gas clients during COVID-19.
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Parsley Energy
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United States
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Oil and Gas
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1 - 100 Employee
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Production Engineering Manager
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Aug 2017 - Aug 2020
Rebuilt a struggling group of engineers and analysts from the ground up, streamlining communication between the field and office staff by taking charge of the Put-on Production (POP), Operations Engineering, and the SCADA teams after first year at Parsley Energy. Boosted stream production by 60% from 100,000 boepd to 160,000 boepd while maintaining gross LOE / BOE well below a $4.60/boe Permian Basin peer average. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Met record-breaking growth targets for a 23-rig drilling program, $1.5B budget, and 1,450 producing wells. ➤ Drove a $2.3B acquisition, integrating Parsley's portfolio and enabling the sale to Pioneer Natural Resources. Show less
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Inflection Energy LLC
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United States
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Oil and Gas
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1 - 100 Employee
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Reservoir and A&D Engineering Consultant
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Feb 2015 - Aug 2017
Evaluated and bid on 8 Marcellus properties for Rose Petroleum, which led to second-round negotiations. Led classical reservoir engineering and M&A support, including creating and contrasting a growth model vs. full divestiture and exit from basin for Inflection Energy, and advising Dorado on divesting Kansas assets. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Proposed operations / reservoir efficiencies for DJ Basin, Permian, and Oklahoma Mississippi Lime acquisitions. ➤ Generated type curves, development schedules, and economics for bids on $30MM to $525MM packages. Show less
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Director of Producing Operations - Northern Region
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Nov 2014 - Feb 2015
Led Williston Basin, Greater Green River Basin, and Uinta Basin production operations with net daily production of 48,000 boepd. Motivated a team of 4 direct / 133 indirect reports to initiate two enterprise-wide pilot programs. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Cut operational costs, staff time, and greenhouse gas emissions (GHG) by converting all pumper trucks to CNG. ➤ Reduced staff time by 90% via a purchase order water hauling initiative. Led Williston Basin, Greater Green River Basin, and Uinta Basin production operations with net daily production of 48,000 boepd. Motivated a team of 4 direct / 133 indirect reports to initiate two enterprise-wide pilot programs. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Cut operational costs, staff time, and greenhouse gas emissions (GHG) by converting all pumper trucks to CNG. ➤ Reduced staff time by 90% via a purchase order water hauling initiative.
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Director of Reservoir Engineering & Resource Development
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Jul 2013 - Nov 2014
Offered a leadership position as a founding member to replicate success with Chaparral, designing American Energy Partners (AEP) as a pure-play Utica / Marcellus company. Tracked every aspect of workflows against KPIs to create a premier horizontal well "manufacturing" business with an exit strategy of monetizing PDP and acreage through a public offering. Took on vastly expanded technical responsibilities in A&D and process development (Prospect to Pop, AFE, and Development Planning) to meet stated minimum hurdle. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Closed ten acquisitions totalling $3.25B for 237,991 acres with an average cycle time of 72 days, surpassing a competitor's 120-day timeline, while building out three other pure-play companies. ➤ Grew to 650 employees supporting four companies, 12 drilling rigs, and 187 PDP wells after the first year, thanks to my subsurface team's efforts in closing acquisitions and expanding the company's operations. Show less
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Asset Vice President of Operations
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Jul 2012 - Jul 2013
Recruited from Pioneer Natural Resources to bring process and high technical standards for Chaparral's planned IPO. Directed Permian, East Texas Sour Gas, Osage Concession (110k acres), and Mississippi Lime Technical, Land, and Operations teams. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Oversaw a $172MM budget, focusing on top-tier execution and financial decision-making to produce the best year in Chaparral's 25-year history, with a peak rig count of eight concurrent rigs. Recruited from Pioneer Natural Resources to bring process and high technical standards for Chaparral's planned IPO. Directed Permian, East Texas Sour Gas, Osage Concession (110k acres), and Mississippi Lime Technical, Land, and Operations teams. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Oversaw a $172MM budget, focusing on top-tier execution and financial decision-making to produce the best year in Chaparral's 25-year history, with a peak rig count of eight concurrent rigs.
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Pioneer Natural Resources Company
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United States
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Oil and Gas
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700 & Above Employee
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Technical Asset Manager
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Jan 2010 - Jul 2012
Promoted to a newly-created role to raise technical standards and guide assets from a technical and economic perspective. Managed a team of geologists, a reservoir engineer, and technical office staff to deliver geologic / engineering efforts according to operational excellence standards. Built processes and business cases for well package values.▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬IMPACTS & ACHIEVEMENTS➤ Selected as a key leader in the 2010 Raton Technical Achievement Gold Wrench Award for the top-performing asset (highest honor within the company).➤ Built a strong team to re-evaluate 900+ PUDS in portfolio (new drill locations), recommending purchase competitors that increased production and reduced costs.➤ Led a team to exceed 100% of production targets while maintaining a $180M capital budget within 1-2%. Show less
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Senior Staff Reservoir Engineer - Business Development
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Feb 2009 - Jan 2010
Promoted to lead a fast-track divestiture of Uinta-Piceance and exploration properties as part of corporate-wide risk restructuring. Guided remaining reserve estimates and historical economic / financial analyses while delivering sales presentations for prospects in data rooms.▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬IMPACTS & ACHIEVEMENTS➤ Evaluated assets ranging from $25MM to $250MM, recommending potential purchases of other companies.➤ Liaised between business and technical teams to successfully align all functional areas and disciplines to company goals. Show less
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Finance Manager
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Jul 2006 - Feb 2009
Guided the financial analysis and modelling process used for financial planning while managing a $400MM budget. Built and oversaw a Rockies Asset Team that expanded to become 1/3 of the company’s total value. Controlled data flow into the corporate finance model from various departments by collaborating with managers and validating model inputs. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬IMPACTS & ACHIEVEMENTS➤ Provided teams with tools to understand the impact of numbers on their work by simplifying LOE statements. Show less
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Senior Reservoir Engineer
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Oct 2004 - Jul 2006
Designed economic models and implemented full stochastics for prospect and acquisition analyses. Evaluated purchasing interest, supervised testing, and selected vendors for TAPs, Cook Inlet’s offshore platforms, and multiple large-scale projects of over $1,500MM in NPRA. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬IMPACTS & ACHIEVEMENTS➤ Recognized as a key player in the start-up of an offshore island in the Beaufort Sea for designing and sanctioning a successful new Oooguruk discovery well testing program. Show less
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Shell
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Oil and Gas
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1 - 100 Employee
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Production / Reservoir Engineer
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May 2002 - Oct 2004
Guided all aspects of production enhancement and remedial work. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Rated as one of the top 1-2% of all surveillance / reservoir engineers by Shell’s Technical and Operations Expert Team Leader. Guided all aspects of production enhancement and remedial work. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ IMPACTS & ACHIEVEMENTS ➤ Rated as one of the top 1-2% of all surveillance / reservoir engineers by Shell’s Technical and Operations Expert Team Leader.
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BP
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France
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Business Consulting and Services
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1 - 100 Employee
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Field Engineer
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Apr 2001 - May 2002
Oversaw high-profile projects, including all production optimization, deliquification, and surveillance for a tight, sour-gas play in the Overthrust belt. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬IMPACTS & ACHIEVEMENTS➤ Earned numerous BP performance awards throughout 4+ year tenure.
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Commercial Analyst
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Sep 1999 - Apr 2001
Guided business option analysis and exploration business strategy development.
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Reservoir Engineer
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May 1998 - Sep 1999
Managed all base reservoir activities, including well off-take rates and drawdown to prevent coning due to hot oil tar rupture.
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Education
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The University of Texas at Austin
Post-Graduate Artificial Intelligence & Machine Learning Program -
Texas A&M University
Bachelor of Science - BS, Petroleum Engineering
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