Oilwoman Magazine March/April 2023 : simplebooklet.com

1Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comFEATURE The Relentless Drive of Nooshin Behroyan PAGE 18IN THIS ISSUELetter from the Editor-in-Chief PAGE 2OILWOMAN Contributors PAGE 2OILWOMAN Online PAGE 3Industry Data PAGE 3DISABILITIES In Conversation with Andy Taylor, Greentech PAGE 4WORKFORCE DEMOGRAPHICS The Elephant in the Room PAGE 8DIVERSITY, EQUITY AND INCLUSION Did DEI DIE? PAGE 12OILWOMAN Cartoon PAGE 13DIGITALIZATION Is Increased Diversity in the Energy Industry Accelerating Digitalization? PAGE 16NEW BOOK RELEASE A Just Transition: Making Energy Poverty History PAGE 23BITCOIN The Potential for a Synergistic Relationship: How Oil and Gas Companies Can Leverage Bitcoin Mining PAGE 24ENVIRONMENTAL, SOCIAL & GOVERNANCE Good ESG Practices Lead to Better Operational and Stock Performance PAGE 28SPOTLIGHT ON COLOMBIA Petro and the End of Oil Exploitation in Colombia PAGE 30SOCIAL MEDIA A New Way of Searching for a Job PAGE 34TWO PIERS CONSULTING Women as Allies - Part II PAGE 36WANT TO REDUCEYOUR NPT ANDSPILL EXPOSURE?With lots of large infrastructure and piping, the oil andgas industry has critical equipment that is difficult tomaintain with current predictive maintenance tools.RDI's Iris platform powered by Motion Amplification®can visually show all of the motions in complexpipework, on large equipment, and on process lines,with accurate non-contact measurement and complexanalysis to back it.• Non-contact video technology• Millions of pixels become your virtual sensors• Troubleshoot and solve root cause in minutesMOTION AMPLIFICATION®INSTANT VISUALIZATION.SAFELY IN REAL-TIME.rditechnologies.comScan to download our O&G Reliability Guide!

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2Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comMARCH — APRIL 2023PUBLISHER Emmanuel SullivanEDITOR-IN-CHIEF Rebecca PontonMANAGING EDITOR Nick VaccaroASSISTANT EDITOR Sarah SkinnerCOPY EDITOR Shannon WestCREATIVE DIRECTOR Kim FischerCONTRIBUTING EDITORS Erica D’Eramo Lee Jourdan Angela McKane Paula Waggoner-AguilarADVERTISING SALES Diana George Connie LaughlinSUBSCRIBE To subscribe to Oilwoman Magazine, please visit our website, www.oilwomanmagazine.com/subscribe. MAILING ADDRESS U.S. Energy Media P.O. Box 42511 Houston, TX 77242 Phone: (800) 562-2340 e-mail: editor@usenergymedia.comCOPYRIGHT The contents of this publication are copyright 2023 by U.S. Energy Media, LLC, with all rights restricted. Any reproduction or use of content without written consent of U.S. Energy Media, LLC is strictly prohibited.All information in this publication is gathered from sources considered to be reliable, but the accuracy of the information cannot be guaranteed. Oilwoman Magazine reserves the right to edit all contributed articles. Editorial content does not necessarily reect the opinions of the publisher. Any advice given in editorial content or advertisements should be considered information only. Cover photo courtesy of Nooshin Behroyan.LETTER FROM THE EDITOR-IN-CHIEFCONTRIBUTORS — BiographiesRebecca Ponton, Editor-in-Chief, OILWOMAN MagazineAt OILWOMAN Magazine, it is our goal to highlight women and their achievements in the energy industry, and to make sure their voices are heard in what is still a male-dominated industry (dened as a sector where women make up less than 25 percent of the employees). As Paula Waggoner-Aguilar, the founder of The Energy CFO, reveals in her article, “The Elephant in the Room,” which examines workforce demographics, the industry, which now stands at 22 percent, is getting ever closer to that milestone. However, 25 percent is not the end goal. We need to set our sights higher and continue, as individuals, companies and the industry as a whole, to pursue parity in the energy sector.In this issue’s cover feature, we talk to Nooshin Behroyan, founder of PAXON Energy & Infrastructure. As a woman and an immigrant – as well as a single mother of two small children when she founded the company – she knows the resilience and determination it takes to create a space in the energy industry, where the International Energy Agency (IEA) estimates only about 11 percent of founders are female. She also has implemented some novel initiatives to bring more women and minorities, including Afghan refugees and military veterans, into the workforce at PAXON. As someone who has followed Behroyan’s career since rst reading about her in a 2020 Inc. article, it has been inspiring to see her company rise to the No. 9 ranking on the Inc. 5000 list of fastest growing companies. In the interview, Behroyan shares a major announcement with OILWOMAN’s audience.In this issue’s diversity, equity and inclusion article, columnist Lee Jourdan asks – and answers – the provocative question, “Did DEI DIE?” And, Erica D’Eramo shares Part II of her series on “Women as Allies,” which is a good way to sum up OILWOMAN Magazine’s mission.Erica D’EramoEngineer by trade. Diversity, equity and inclusion professional by choice. With a successful two decade career in the international energy industry, and having been one of the few women in her eld, Erica D’Eramo has made it her life’s work to create diverse, inclusive and equitable workplaces through research, best practice and lived experiences. She is passionate about reconciling the academic perspective with practical application to enable organizations to elevate their DEI efforts and change the workplace landscape through those activities with the greatest impact. In 2016, D’Eramo founded Two Piers Consulting to support under-represented communities in the workforce, and provide companies with the tools and strategies to effectively create and grow truly diverse and inclusive workplaces. She holds a Bachelor of Science in Mechanical Engineering from Penn State University, and an Executive MBA from University of Texas at Austin. Lee JourdanLee Jourdan is Chevron’s former global chief diversity and inclusion ofcer and former vice president commercial and business development for Chevron’s IndoAsia and Asia South business units. He has been published by The Harvard Business Review, Washington Post, and interviewed by SHRM and Pulitzer Prize winner Daniel Yergin on DEI. Jourdan is co-author of From Shoeshine to Star Wars and was recognized by Business Insider in 2020 as one of 100 people transforming business in North America. Today, he is a director on the boards of PROS Holdings (NYSE: PRO) and the nonprot SEARCH Homeless Services, an advisory board member at Pulsely Inc., and Ally Energy, and a special advisor to FTI Consulting, author and keynote speaker.Angela McKaneAngela McKane’s role entails leading a team of Subject Matter Experts (SMEs) responsible for horizon scanning for emerging or disruptive technology innovations that will shape our changing global energy system, as well as oversight of her team’s internal technology research service that provides deep insight on the potential for new technologies across bp Group. Paula Waggoner-Aguilar Paula Waggoner-Aguilar is an experienced energy CFO, business controller, board advisor and a CPA. She is the founder and Managing CFO for The Energy CFO and has received numerous awards for her work, including Best CFO Private Companies from the San Antonio Business Journal and a Women’s Business Award from the National Association of Women Business Owners (NAWBO). She is also the founding president of the Women’s Energy Network South Texas Chapter. Prior to becoming an entrepreneur, Waggoner-Aguilar worked as a senior planning, nance and accounting executive for Lewis Energy Group, Buckeye Partners, BHP Billiton Petroleum and Suez Energy LNG North America. She started her career in the 1990s working in the oileld as an internal auditor in Latin America for Dresser Industries.

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4Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDISABILITIESIn Conversation with Andy Taylor, Greentech By Angela McKaneI was recently introduced to Andy Taylor by a mutual contact. Given our respec-tive health challenges and mutual desire to make the world better, I interviewed Andy on a variety of topics. I am hon-ored to have the opportunity to share some of his story here.Angela McKane: Hi Andy, thank you so much for agreeing to share some of your insight with me today! Andy Taylor: It’s such a pleasure to be speaking with you, Ange. I’d like to men-tion at the outset just how much respect I have for women like yourself working in the traditionally male-dominated oil and gas industry. I’m a huge advocate for valuing the diverse contributions that women and men together can make to every organization. I’m proud of the fact that Merinda, my wife of 26 years, is smarter, more capable and more talented than I’ll ever be!AMcK: Ah, excellent, thank you! Okay, to get us started, could you tell me a little about the work you do? AT: Sure! Having left a 25-year multi-national corporate career, for the past ve years my focus has been on helping companies to acceler-ate to net zero. I’m doing this as a partner in both Companies for Net Zero (CNZ) and Greentech. CNZ’s mission is to bring together For-tune 500 companies in our summit events, in order to share climate knowledge and companies’ success stories so far, from which others can learn, and then emulate. We also share daily and weekly climate insights via our newsletter and CNZ Eco-Forum digital app. As Greentech, we are impacting inves-tors in innova-tive sustainability technologies. We’ve assembled a portfo-lio of market-ready climate technologies that focus on decar-bonizing buildings. We take our clients through a sequence of: (1) Measure (their energy), (2) Plan (how to reduce it), (3) Engage (solu-tion providers), and then (4) Deliver (the net zero project). We’re now assem-bling partnerships with multi-billion dollar green debt funds to offer “renewable energy as a service” solutions to our clients. We also have a separate portfolio of circular economy recycling solutions.AMcK: is sounds really cool and impactful. I love the CNZ app. Andy, if you are comfortable also sharing it, could you tell me a little about your medical diagnosis?AT: Sure thing. Late last year, I was for-mally diagnosed with motor neuron dis-ease (MND). (In America it’s called ALS). MND affects one in 350 men, and one in 500 women. It’s a neurological disease that progressively damages the motor neurons that control the body’s voluntary muscles. I’ve already lost most of the use of my arms, and my legs are weakening. Eventu-ally, it is expected to impact my speaking, swallowing and ultimately my breathing, which means MND is a terminal illness. Most people with MND don’t live past three to ve years from diagnosis.I’m welcoming the opportunity to share this, as it seems many people are unaware of the MND symptoms (including many front-line health professionals like GPs Family time (left to right): Andy Taylor’s wife, Merinda, sons Bode and Mac, and Taylor. Photos courtesy of Andy Taylor.Andy Taylor relaxing at home with Marley, the family’s Cockapoo.

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5Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDISABILITIESand physiotherapists, etc., in my case). They all thought my weak arms were spinal-related, and so I waited months for x-rays and MRIs before MND was suggested. This potentially delayed my accessing of drugs that could delay the onset of my symptoms.Now, it’s all about hacking solutions to the physical challenges, I’m nding. Since my diagnosis, I’ve started using AI software to dictate all of my work-relat-ed communications, such as emails. This is because trying to type with limited arm and hand strength is a massive chal-lenge now.One of the biggest impacts from my ill-ness has been on my wife, unfortunately. She’s really had to step up massively because I need help with all my personal administration such as getting dry after a shower, getting dressed and meal prepa-ration. I can’t drive anymore, so she’s having to take on the extra burden of driving our two boys (Mac, 12, and Bode, 15 years old) to all of their sporting and extracurricular commitments.The impact of this sort of diagnosis is really hard on one’s whole family in many ways. AMcK: Receiving this diagnosis must have been so tough for you as well. AT: For sure, especially because I was keeping myself so t and healthy until I was diagnosed late last year at 52. I’ve been into sports all my life. Since the age of 35, I particularly focused on the need to work out, and I really did – going to the gym, playing regular tennis, you name it. I was strong, energetic and healthy. I certainly never contemplated having to face what I’m facing now.My message to readers is get to know your body and if something feels wrong, be willing to push hard to get the rel-evant tests, referrals to specialists, and a reliable diagnosis. Perhaps take advantage of buying a biometric scale to give you excellent detail on all your body metrics. Take advantage of all the companies now offering various blood tests, gut health tests and other health checks to actively monitor your health.AMcK: ank you, that is a really important message. Andy, is it fair to say that some of the most challenging impacts of a terminal diagnosis like this are the psychological impacts, even over and above the physical manifestations? AT: Absolutely. None of us really likes to confront the reality of our own mor-tality. Most of us hope for a lifespan that extends into our 80s and beyond. So, for me, this is now all about how to deal with adversity.My rst response is that if I allow some-thing like this to have a negative emotion-al impact on me, like anger, frustration or sadness, then it’s winning a second time, a third time and a fourth time. My philoso-phy is that if you have been adversely impacted by something, then it’s all about how to address that impact in the best way possible, ghting it all the way (with a positive mindset) until my last breath.I was already working hard on trying to make the world a better place, and so my desire to make the world a better place is now even more urgent. Sure, I can’t leave the house like I used to, but now I can devote seven days a week and evenings to my passion, and the task I was already working on, [which is] scaling innovative sustainability technologies into our global corporate network. AMcK: Wow! at’s an impressive mindset to have in response to this. Continued on next page...

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6Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDISABILITIESAT: Exactly, and it’s so important. It’s a key message I’m keen to promote to everyone reading this. It is imperative to maintain a positive growth mindset in the face of any big challenges: health, climate and the rest. Technology inno-vation can help – it’s helping me – but you need to also practice the mindset of bigger-picture thinking and resilience. We all have something going on with us, and there’s always someone we could perceive as being worse off than [we are]. You can take the pain and frustra-tion of a difcult diagnosis, and channel that energy into your passion which, in my case, is providing solutions that will help organizations decarbonize. AMcK: Same! I completely agree with you on this. AT: Yes, this is also a key message for organizations. People living with disabilities are a tremendous asset in the quest to solve the energy trilemma. Overcoming signicant obstacles means we’ve got inherent grit and determi-nation; indeed, any of us who have suffered adversity of any kind naturally become more passionate, more com-mitted and more focused on making a positive difference! We’re less likely to recoil from embracing a new oppor-tunity. A takeaway for individuals here is: This is a skill you can practice. You can cultivate and build resilience, even if facing tremendous challenges. Would you believe that I sometimes sing in response to this? AMcK: What? You’re a singer?AT: Well, not a very good one. But, as MND ultimately affects your abil-ity to speak and to breathe, singing is recommended as a perfect way to train your diaphragm. Right now, I’ll blast out heavy metal and rock tunes in the evening. It exercises my lungs and it can also be very cathartic.AMcK: Andy, can we collaborate on a Spotify playlist for this? AT: Ha ha – yes, of course! Staind (American rock band) [is] one of my favorite bands to sing along with, by the way.AMcK: Okay, deal! Andy – from my heart to yours, thank you for being so open today. AT: I’ve been so glad to have been a part of this with you. For those reading, people living with disabilities are gener-ally glad if you show a genuine interest in our circumstances and our journey through life rather than just expressing sympathy or pity. We have learnings to share on what’s important and sharing together is what builds human connection. Human con-nection is what builds powerful teams, cultures and organizations. It’s what builds the relationships that good busi-ness is based on. It is what will help us collaborate in facing the big challenges: health challenges, achieving net zero, and more. For me, my desire to make the world a better place is now ever more urgent, and so I spend my time partnering with those that can help me do that. I strive to share these perspec-tives that I’ve learned on mindset with others and with my two sons, who both make me an immensely proud father. AMcK: And I’m sure they are just as proud of their dad. ank you, Andy. Connect with Andy Taylor on LinkedIn. Connect with Angela McKane on LinkedIn.For more information, go to the MND Association in the U.K. and the ALS Association in the U.S.Angela McKane’s role entails leading a team of Subject Matter Experts (SMEs) responsible for horizon scanning for emerging or disruptive technology innovations that will shape our changing global energy system, as well as oversight of her team’s internal technology research service that provides deep insight on the potential for new technologies across bp Group. McKane transformed her team’s service into a digitally-enabled offer, providing bp employees with 24/7 access to insight delivered via an internal online platform, and a close to real-time horizon scanning capability, using APIs connecting to world-leading subscribed datasets and automated scanning of these datasets for new breakthroughs and emerging trends. This provides bp with a competitive edge in nding technology-driven new business opportunities that will enable the company to participate in a changing energy mix, and to achieve its net zero ambition. Andy Taylor and Marley in Taylor’s home ofce in London.

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8Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comWORKFORCE DEMOGRAPHICSThe Elephant in the Room By Paula Waggoner-Aguiları As someone who has been in the energy industry for 28 years, it has only been in the last decade that I have met women operators, drillers, frackers, the rst woman to work offshore in the U.K. and a CEO of a utility company. In celebra-tion of International Women’s Day and Women’s History Month 2023, let’s take a look at some of the occupational data measured over the last decade by various interested organizations to get a feel for progress stemming from this collective initiative by women and men, organi-zations, companies and investors to support, promote and advance women working in the oil and gas/energy indus-try over the last decade. To start, we are going to use women’s participation in the overall economy, which is approximately 47 percent, as a general benchmark. This number is fairly stable (changed by less than one percent since 2015).In 2012, API referenced a study by PWC that the oil and gas industry supported 9.8 million jobs in the U.S. The following year, a Texas Oil and Gas Magazine article, appropriately titled “Breaking Through the Gas Ceiling,” began with the ques-tion, “Women in the oil and gas industry – an oxymoron?” and cited a 2012 Glob-al Oil & Gas Salary Survey conducted by Hays Recruiting which reported that, “Women are vastly outnumbered by men, comprising only 7.8 percent of the industry in the U.S. and, of those, very few ever make it to the top, decision-making positions.” Based on these data points, let’s say approximately 764,000 women were working in the U.S. in 2012 at the height of the shale revolution 1.0. I have been working in the energy in-dustry since 1995 and, I have to admit, I was surprised to see the 7.8 percent. I knew the percentage was low, but I was shocked that it was less than 10 percent. As we look back, I also think it’s im-portant to consider stats in the context of the overall industry landscape at the time. For example, there was the down-turn 2014-2015 that impacted a lot of jobs (men and women). Beginning in January 2016, the U.S. reversed a 40 year ban on oil exporting which helped the industry recover a lot faster than it would otherwise. In fact, a U.S. Department of Energy (DOE) article says the energy sector was one of the fastest growing job markets in the U.S. From 2015 to 2019, industry employment grew three percent, which was double the 1.5 per-cent of the general economy. The point here is there has been a lot of volatility in jobs data.Let’s look at a couple of data points about women’s participation in the en-ergy workforce from that time period:• In 2016, a study by IHS Global, Inc. (2015) for the American Petroleum Institute (API) reported women in the combined oil and gas and petro-chemical industries was 17 percent total employment. • In 2016-2017, Oil and Gas U.K. Workforce and Employment Insight reported the elite group of women working offshore represented only 3.4 percent of the offshore workforce. Also in 2017, BCG issued a publica-tion in collaboration with the World Petroleum Council reporting women’s representation in the global oil and gas industry was 25 percent. Of those, 27 percent worked in entry level jobs and 17 percent of women were senior and ex-ecutive level personnel. The BCG study included 38 oil and gas rms represent-ing $1.6 trillion in revenues.One general observation: Of the various studies available, we noted that global percentages tend to be higher than U.S. sector statistics. No explanation is Photo courtesy of bpawesome – www.123RF.com

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9Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comWORKFORCE DEMOGRAPHICSprovided, so you have to draw your own conclusions. The Pandemic EffectThen COVID-19 hit. I doubt anyone in the industry will ever forget watching the price of oil go negative in April 2020. Milk, eggs and Zoom stock were worth more than oil! In all, the DOE reports 839,000 jobs were lost in 2020. Fortu-nately, the following year, U.S. energy sector jobs grew four percent, bringing total jobs to 7.8 million in 2021. But that’s still two million less jobs than at the beginning of the decade.Post COVID-19 DiscoveriesSurprisingly, women’s participation in the energy sector post-COVID-19 has improved. In 2021, the Energy Workforce and Technology Council (formerly the Pe-troleum Equipment Services Association aka PESA) reported women represented 19 percent of the oil and gas workforce. This is a four percent improvement since its last study in 2018.In 2022, the Center for American Progress (CAP) research found in the U.S. women represented 25 percent of the total energy workforce. That’s ap-proximately a 17.2 percent increase from PWC’s ndings a little over a decade before. CAP also noted that globally the renewable energy sector leads other sec-tors with women making up 32 percent of its ranks. We also found a couple of studies from 2022 on the percentage of women in the oil and gas workforce that ranged from approximately 22 percent to 25 percent, depending on the source.According to the U.S. Department of Labor (DOL), any occupation where women represent less than 25 percent of the workforce is considered male domi-nated. Curious how many occupations fall into that category? In 2020, only 6.5 percent of women in the U.S. worked full-time in occupations falling under this “male-dominated” denition as reported by Catalyst.org based on study by the Institute of Women’s Policy Research. Based on the studies and the numbers we have looked at for women in energy, it appears that sometime around 2022 the energy sector (overall) and the re-newables sector transitioned and are no longer “male dominated occupations,” according to the DOL’s textbook deni-tion. In addition, the oil and gas sector is very close to exceeding the 25 percent threshold.Drilling Down Into Job DetailsThere are some very interesting details in these later studies. For example, Catalyst.org reports that within the renewables sector, more women work Continued on next page...To Attain Gender Balance, Oil and Gas Companies Need to Take Action on Three Levels

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10Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comin admin jobs (45 percent) than in STEM related roles.In the case of the oil and gas, machin-ery manufacturing, petroleum ren-ing and the construction workforce, in 2021, the Energy Workforce and Technology Council reported: • Women held 34 percent of the jobs in business support functions, up 31 percent since 2018. Within this category, women represent 31 percent of rst line and middle/upper management, and 18 percent of the highest-ranking executives. • Whereas women held 12 percent of the jobs in technical/operating functions, up eight percent since 2018. Within this category, women represent 11 percent of rst line and middle/upper management and nine percent of the highest ranking executives (up more than seven percent from 2018).• Based on their reported results, it appears women have been mov-ing up the technical and operating ranks over the last ve years. From my perspective as an entrepre-neur, I am a bit disappointed to see the statistics for energy startups are similar to what is seen in the technol-ogy sectors. The previously mentioned CAP article referenced a 2020 report from the Global Accelerator Learn-ing Initiative in which 63 percent of energy sector startups surveyed were led by all-male teams. Based on my own personal experience, I believe this stat may actually be even higher for oil and gas and petrochemicals. The bright spot in the energy sector is the utilities sector. In 2021, Catalyst.org reported 17 percent of senior utility executives are women. In fact, the Catalyst study states, “There are more women senior executives in the utility industry than any other energy sector.” CAP also had similar ndings in its 2022 review of the board of the 200 Largest Utilities in the world in which it found that women make up 16 percent (or roughly 25 seats). Interestingly, the nance world’s Seek-ing Alpha published an article about women on the boards using S&P Dow Jones data. It found that women make up 32 percent of energy boards and 29 percent of utilities boards. “In terms of sectors, energy has a greater than average number of women on their boards.” No doubt, these results are due in part to the large push by rms like Black Rock and many other institutional investors in support of greater gender diversity and inclusion on director boards. Collective Efforts The future of women in energy is very bright as we enter the next period of energy transition. There are more opportunities for women now than 2013. Our representation has improved 10 percent or more in several sectors and job occupations, representing signicant improvement in a decade. Many of you are working full-time in sectors that are not technically “male-dominated” or are right on the line. Doors have opened. More women are getting C-suite jobs and paid corpo-rate board seats. Institutional inves-tors continue to pressure C-suites and boards to add women, but there is still more work that needs to be done. There is greater support for diversity, equity and inclusion (DEI) initiatives now than 2013; however, ethnic mi-nority representation (which denitely impacts women) is still lagging. We need to work on this in the future.We all did this together – the col-lective efforts of women and men, various organizations, various com-panies, institutional investors, other industry efforts, and what I call “the business of economic empowerment of women in energy.” All have had a positive compounding inuence in support for women in energy. Will we see gender balance? Perhaps. But keep in mind this does not guarantee equal representation at higher ranks. We see that throughout the data.As for the next decade, I hope to see more women energy entrepreneurs – and to be joining the ranks of women on corporate boards myself.Paula Waggoner-Agu-ilar is an experienced energy CFO, business controller, board ad-visor and a CPA. She is the founder and Managing CFO for The Energy CFO and has received numerous awards for her work, including Best CFO Private Companies from the San Antonio Business Journal and a Women’s Business Award from the National Association of Women Business Owners (NAWBO). She is also the founding president of the Women’s Energy Network South Texas Chapter. Prior to becoming an entrepre-neur, Waggoner-Aguilar worked as a senior planning, nance and accounting executive for Lewis Energy Group, Buckeye Partners, BHP Billiton Petroleum and Suez Energy LNG North America. She started her career in the 1990s working in the oileld as an inter-nal auditor in Latin America for Dresser Industries.The Energy CFO is a fractional CFO services rm that specializes in helping private companies and family enterprises involved in all aspects of the energy value chain. Its CFO team understands the unique challenges businesses in this industry face and is commit-ted to providing tailored solutions designed to take companies to the next level. The Energy CFO is woman majority owned and will be celebrating its 10th year in busi-ness in April 2023. The company always offers a free initial consulta-tion and affordable fractional CFO services. For more information, go to www.theenergycfo.com. WORKFORCE DEMOGRAPHICS

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12Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDIVERSITY, EQUITY AND INCLUSIONDid DEI DIE? By Lee Jourdan“The ultimate measure of a man is not where he stands in the moments of comfort, but where he stands at times of challenge and controversy.” ~ Dr Martin Luther King The same can be said of organizations. What they do in moments of challenge and controversy become the measure of the organization. As the largest tech companies, Meta, Alphabet, Amazon and Microsoft, laid off over 50,000 peo-ple in the rst month of the new year, and Twitter red half of its employees at the end of last year, it’s fair to say that these are challenging times. What hap-pens to their focus on diversity, equity and inclusion (DEI) during these times of challenge and controversy is telling. Bloomberg reports that during this purge DEI practitioners lag behind only data scientists and programmers as functions hardest hit by the layoffs. In the same article, one former employee at Twitter reported that the diversity, equity and inclusion team has been gutted from 30 people to two as 50 percent of the workforce was being red. Given these reports, it’s not a stretch to conclude that two and a half years after the mur-der of George Floyd, diversity, equity and inclusion may not be as important in some organizations as before. I continue to be surprised by how orga-nizations deemed to be so steeped in IQ can be so lacking in emotional intel-ligence (EQ). They have not recognized the enabling power of DEI. However, there are some that get it. In June of 2020, Tailored Brands, parent to such well-known brands as Men’s Wearhouse and Jos. A. Bank, established a DEI Council two months before an-nouncing their Chapter 11 restructuring. Instead of waiting and making DEI a lagging priority, they moved it front and center after recognizing the power of diversity with employees and customers. Senior Vice President Joe Bahena of Joseph Abboud Manufacturing Corp. (a Tailored Brands Company) said they saw the need to “guide our Company to become more equitable and inclusive by reecting the diversity of the custom-ers and communities we serve.” Today, Tailored Brand’s diversity council is as vibrant as ever. In my last Oilwoman column, I rein-forced the concept that DEI is about much more than gender and race. It’s a force multiplier. There is one constant as we meander in and out of reces-sions: Good performers have choices. And good performers want to work in cultures that are collaborative, innova-tive, cognitively diverse and inclusive. The incoming workforce has become experts at snifng out whether an or-ganization values diversity or is simply “virtue signaling” by saying the right things in its annual report. A McKinsey survey found that 39 percent of all re-spondents say they have turned down or decided not to pursue a job because of a perceived lack of inclusion at an or-ganization. While Monster.com reports that 27 percent of candidates say they are seeking caring work environments.In this Harvard Business Review article, Yale University’s rst Black student body president, Khalil Greene, shares how a recruiter’s attempt to extol the value of DEI within her organization backred. If you want to attract and retain strong performers, a diverse, equi-table and inclusive culture is table stakes. How Do You Know if DEI is Dead at Your Organization? To many, a few well-placed pictures, and a buzzword-lled DEI vision statement on their website can appear to be proof of a diverse and inclusive culture. But without certain must-haves, these ac-tions become no more than box check-ing. Here are a few things to look for to determine if DEI is alive and well in your organization.Is DEI Leader Led? Take note of how leadership shows up, starting at the top of the organization. • How does your top leader (CEO, commanding ofcer, president, chan-Photo courtesy of stegarau – www.123RF.com

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13Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDIVERSITY, EQUITY AND INCLUSIONcellor) talk about diversity, equity and inclusion? • Is it authentic, is it believable, is it measurable? • Is their messaging mimicked by other leaders in a positive way? • Are there clear milestones for prog-ress that are discussed in their regular communications? • Is DEI work primarily led by the chief diversity and inclusion ofcer or their equivalent, or under HR with only reactionary or intermittent ac-tion from leadership? • Are the CHRO’s peers within the C-Suite stepping up as executive sponsors of your Employee Research Groups (ERGs)? • Does the CEO speak authentically about why DEI is important to the business? In 2017, three years before George Floyd was killed, the Superintendent of the United States Air Force Academy, Lt. General Jay Silveria, became aware of racial slurs that had surfaced at the Air Force Academy prep school. In response, he held an assembly at the Academy and required all 4,000 cadets and all his staff to attend, so that he could make crystal clear what his expectations were. He delivered a best-in-class example of how leadership shows up in times of dis-course, in times of challenge and contro-versy. He left no doubt of the “measure the man.” In his remarks, he discusses Oilwoman Cartoon Continued on next page...

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14Oilwoman Magazine / March-April 2023 / OilwomanMagazine.com“the power of diversity” and makes clear that if members of the academy were not aligned with his philosophy on diversity, then they need to “get out.” I encourage readers to take ve minutes and see what leadership looks like. This is the best-in-class standard for provid-ing clarity from the top. Is Your DEI Strategy Purpose-Driven? It’s one thing to have a vision statement that uses all the right buzzwords. It’s quite another to see if the DEI vision statement ties directly back to your organization’s overall strategic purpose. Forbes ranks Progressive Insurance number one in creating a diverse, eq-uitable and inclusive culture. Progres-sive’s DEI vision statement recognizes the business and altruistic drivers I spoke about in my rst column. The statement notes that the business case for DEI is important, but it’s not just about the business case; it’s a human imperative. And importantly, it describes the journey Progressive has taken to understand that creating a diverse and inclusive culture is not just the right thing to do, but also the smart thing to do. Progressive’s rec-ognition of the journey reinforces the authenticity of the message. Is DEI Part of Your Communications DNA?Does DEI come up in only DEI specic events and references, or is it embedded in the DNA of your organization? Is it stand alone or an enabler? Is diversity given credit for business successes? What dimensions of diversity are discussed? Are they mainly around gender and race/ethnicity, or do they include other dimensions of diversity? The evolution of diversity typically starts with gender because every man has a wife, daughter, sister, niece or someone they can directly relate to that has experienced inequities. It is easier for the majority to relate to and empathize with women. So many programs begin with gender focused programs, then they may expand to “minorities” as a group without disag-gregation. This allows orgs to tout success without recognition that some groups are falling further behind. Dis-ability, neurodiversity, sexual orienta-tion can be further down the road – or not highlighted at all. Where is the Accountability?• What is measured and how trans-parent is that measurement? • Does your organization audit for equity and inclusion? • If so, does it tout results and follow up actions? • Does it share hiring rates and pro-motion rates?What Can You Do About It?It’s important to note that no organi-zation is doing everything, and each organization is in a different place in the journey. The checkpoints I men-tion here may be inight. If your orga-nization isn’t doing all these things, but they are on the horizon, that’s okay. The most important questions are: Does your organization know where it is on the journey, is it moving forward, and is it leader led?So, if you’ve run this mental checklist, and you nd your organization is not progressing, what can you do about it? The answer is often dependent on where you are in the organization, and if there exists a psychologically safe environment to speak up. Too often the degree of diversity, equity and inclusion parallels that of psychological safety. No matter where you are in the organization, you can ask questions. Inquiry is safer, and often much more effective, than accusation. The right questions framed the right way can make the right point while leading to the self-realization that your organiza-tion has more to do.Ask foundational questions.1. Have we ever had an outside (third party) assess where we are in terms of DEI maturity?2. How does our DEI vision tie back to our corporate vision?3. Are we measuring the success or impact of our DEI programs?Share thought leadership.1. Share articles that are constructive and educational.2. Share what you see competitors doing. (I call this “progress through guilt.”)3. Highlight wins within the organiza-tion.Be a role model (no matter where you are in the organization).1. Demonstrate inclusive behavior and inclusive leadership traits.2. Advocate for communities outside of your own.The rate of change in your DEI cul-ture may have slowed in the last several months, but know that at some point leadership will change, societal events will cause us to refocus, and the com-petitive advantages of a diverse and inclusive culture will emerge. Progress isn’t dead; it may just be dormant, hi-bernating like a bear in the winter. But it will return and, when your organiza-tion embraces it, it will be better for it. Lee Jourdan is Chevron’s former global chief diversity and inclusion ofcer and former vice president commercial and business development for Chev-ron’s IndoAsia and Asia South busi-ness units. He has been published by The Harvard Business Review, Washington Post, and interviewed by SHRM and Pulitzer Prize winner Daniel Yergin on DEI. Jourdan is co-author of From Shoeshine to Star Wars and was recognized by Busi-ness Insider in 2020 as one of 100 people transforming business in North America. Today, he is a director on the boards of PROS Holdings (NYSE: PRO) and the nonprot SEARCH Homeless Services, an advisory board member at Pulsely Inc., and Ally En-ergy, and a special advisor to FTI Con-sulting, author and keynote speaker. DIVERSITY, EQUITY AND INCLUSION

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16Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDIGITALIZATIONIs Increased Diversity in the Energy Industry Accelerating Digitalization? By Meghan GoldenThe past decade has been nothing short of transformational for the energy indus-try. Amid demands for aggressive sustain-ability progress, supply chain challenges and delays, and calls for ethical reform, industry innovators have risen to the chal-lenge. The changes that ensued have re-shaped the business and the industry has turned an important corner, with compa-nies operating with greater efciency and competitiveness than ever before.However, there are two glaring areas that the industry has yet to make meaningful progress: diversity among energy industry personnel and leaders, and technology adoption. On the surface, these two con-cepts seem mutually exclusive. However, if you peel back the layers of diversity and technology adoption, you will see that they can be used as a joint accelerator tool to hasten progress in the energy sector.The Energy Industry’s Delayed DigitalizationLet’s rst look at technology and the role it plays in the energy industry. Over the past few years, technology and digitaliza-tion have come to the forefront of many industries’ strategic initiatives, and rates of adoption have accelerated dramatically. However, in contrast to other industries, the oil and gas industry specically has historically held a slower than average pace when it comes to adopting new ways of working. For decades, the in-dustry relied on paper-based technology (and still does to a certain degree) and had no real push for using digitalization to maximize efciency. There was often the mindset of “just get the job done” among industry work-ers, with no expectation of innovation. Early adopters of technology were not common, and there was no compelling business case to implement something new. Even when a project did choose to experiment with a new technology, it rarely progressed beyond the pilot stage. This prevented digitalization, change and progress at scale.A New Method for Embracing ChangeThe question remains: What progress have we made so far? Perhaps more importantly, what work does the industry still need to do to fully embrace a spirit of innovation?Technology is changing the energy sector in many interesting and meaningful ways. Whether the focus is on oil price dynam-ics of supply and demand or capital efciency, companies are closely examin-ing production and asset productivity and using technology to drive change in those areas. Much of this change could be made possible by connected devices providing real-time data, which would enable more optimized assets, and digital technologies to help upskill workers and prevent the loss of critical skills. A powerful tool for companies who can harness its capabilities, digital also brings with it some challenges in the energy sec-tor. New skills are required, and a unique approach to transformation must be pres-ent: Companies must fully commit to change. As the industry dives headrst into digitalization, there is one thing that has become abundantly clear. The secret ingredient to meaningful technology advancement has been right in front of us all along…How Diversity Drives Digitalization (And Vice Versa)As companies across the energy and construction industries brace themselves for “The Great Crew Change” and older workers retire in droves, technol-ogy is becoming increasingly important. Younger generations that are entering the workforce were raised on technology, and most don’t remember a time without it. They embrace the concept that something new and better is always just around the corner, and won’t be satised with dated technology. This is where diversity in the workforce comes into play as a driver for technology adoption. But diversity in the workforce goes beyond the physical and social aspects

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17Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comDIGITALIZATIONof having people from different genders, cultures, generations or backgrounds. For diversity to drive innovation, change, and technology adoption, diversity of thought is needed.Think about the last place you worked or observed that was truly innovative and open to new concepts. What did the workforce look like there? What did the leadership look like there? Were new approaches or ways of working met with enthusiasm or resistance? Today, businesses cannot afford to contin-ue to approach problems using the same lens that they have for decades. In the increasingly volatile and changing world in which we live, approaching problems from a variety of angles increases the innovative capacity and broadens the cre-ativity of an organization. Multiple voices and perspectives bounce off one another and can give rise to out-of-the-box think-ing, driving change, fostering innovation and increasing productivity. A Practical Approach to Diversity and DigitalizationWhere does the energy industry stand in the pursuit of a more diverse workforce? It’s no secret that the industry is very male-dominated, with only one in ve leadership roles held by women, even after 14 consecutive years of increases. These delays in meaningful diversity prog-ress are only hurting companies’ bottom lines. In fact, a recent study found that companies that have a leadership team composed of at least 30 percent females have an average of six percent higher net margins. Further, companies with a higher percentage of women in executive posi-tions achieve a 34 percent higher share-holder return.Clearly, a diverse and inclusive team and organizational culture can make a signi-cant impact on business performance and innovation. But where is the intersection of diversity and technology, and how can it be leveraged? There are many ways to ensure these two concepts do not oper-ate in a vacuum and, instead, serve each other. Here are three that will start you on the journey to a more inclusive and technologically advanced organization: 1. Ensure that your organization’s head of people and head of technology are plugged in to each other’s initiatives. Often these two functions are siloed, and do not see the opportunities to work together to advance the whole team. Ensure that performance data is tracked by teams with a diverse makeup and contrasted with teams without a diverse representation.2. Set up and maintain productive feed-back loops, giving all workers the chan-nels to make suggestions and changes. This not only opens the door for out of the box thinking, but it also ensures that everyone has a voice.3. Incentivize cross-team collaboration for implementation. It is not enough to just test out a new technology or ways of doing things, true implementation is what moves a company forward on their path to innovation. Reshaping the Value Chain Greater diversity in the energy industry is critical, as it is prone to technical and economic uncertainty and is constantly seeking efciencies to meet stakeholder expectations. Although the energy indus-try is widely known as a sector where it takes time for change to be felt, a diverse workforce and the speed of digital tech-nologies can help reshape the value chain. This doesn’t mean that making meaning-ful changes in the areas of diversity and technology adoption comes without chal-lenges, but challenges sharpen our focus and demand that we become better than we were yesterday. Meghan Golden is the chief business ofcer and co-founder of Cumulus Digital Systems, where she leads the operations team. Prior to co-founding Cumulus, she was a program manager at Shell TechWorks, Shell’s technology center in Cambridge, Massachusetts. Prior to joining Shell, Golden worked in the defense industry and served for six years on active duty as an ofcer in the U.S. Army. Golden enjoys being active and spend-ing time with her husband, Steve, and their three daughters Eleanor, Victo-ria and Cecilia. She earned a B.S. in Systems Engineering from the United States Military Academy at West Point and is also a certied Project Manage-ment Professional (PMP®) from the Project Management Institute. Golden is a combat veteran of Operations En-during Freedom and Iraqi Freedom and recipient of the Bronze Star Medal.Golden can be reached via LinkedIn or by email at meghan@cumulusds.com. ADVERTISE WITH US!Are you looking to expand your reach in the oil and gas marketplace? Do you have a product or service that would beneﬁt the industry? If so, we would like to speak with you!CALL US (800) 562-2340 EX. 1 We have a creative team that can design your ad! OilwomanMagazine.com/advertise • Advertising@OilmanMagazine.com

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19Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comFEATURESpeaking truth to power requires the courage of your convictions and, in Nooshin Behroyan’s case, she is speaking truth to power companies. Six and a half years ago, having successfully executed a number of engineering projects and advanced to a management role, she realized that many oil and gas opera-tors were not tracking their methane footprint, whether it was through an approved project or the result of fugitive emissions, such as a leak. She proposed a plan to California utility executives, ask-ing them to calculate exactly what their annual losses would be on any kind of project or any type of incident. Behroyan is succinct: “We’re dealing with a nite element. We don’t have these sources of energy forever so we might as well start being more efcient.” After being told to put it on the pitch deck, she presented her plan and requested approximately $40 million in program funding. “They approved me for $36 million and that’s how PAXON was incorporated,” she says smiling. (Fun fact: PAXON is named after Behroyan’s favorite brand of chocolates, a treat she grew up eating as a child in Iran.)Pursuing A VisionA 32-year old single mother of two when she founded PAXON Energy & Infrastructure Services, it wasn’t enough that she was a well-recognized engineer. She knew that in order to secure con-tracts, she would need to attract compa-nies that were seeking to spend a certain percentage of their budgets with women and minority owned businesses. She spent that rst year procuring the certi-cations she needed and implementing safety procedures and training protocols.While it may sound like PAXON was an overnight success, six months into that rst project, Behroyan lost the contract. A major company convinced the cli-ent that Behroyan was only one person and that PAXON wasn’t big enough to handle the job, in comparison with its staff of engineers and environmentalists.“They had no idea what the vision was and where I was going with it. Within a month and a half to two months of losing the project, I reverse engineered it,” Behroyan says matter-of-factly. “I realized that if we were to report how much methane each operator was releas-ing into the atmosphere, they could have come under compliance or a regulation. In working with a few leading engineers of PAXON, we pursued technologies that actually recovered those methane emissions at the job site.”Triple Bottom Line“We call it “methane recovery” because the main component of natural gas is methane.” As Behroyan explains, the pipeline is taken out of service. Rather than releasing – or aring – the gas, there is a starting point where the equipment is hooked up to the pipeline and begins receiving and condensing the gas, which is then compressed and recompressed into the system at a point farther down the pipeline. The whole process happens on the job site, takes about the same amount of time if it were to be vented, and is as cost effective. Of critical im-portance is the fact that it eliminates ex-posure at the job site, as well as the risk of ignition happening in the commu-nity, as natural gas pipelines are buried underground everywhere – including in residential and commercial areas. (In the The Relentless Drive ofNooshin BehroyanBY Rebecca PontonContinued on next page...“This gives us an opportunity to source next-level technologies to the industry and pair that with best practices, one of which is methane emissions recovery.”

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20Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comFEATUREU.S., 811 is the national “call before you dig” number to inform consumers where utility lines are buried.)“Because it’s condensed and recom-pressed into the system, the material – the fuel – may be considered renewable energy by some,” says Behroyan. This means it qualies for a carbon credit on the client’s side and PAXON receives the tax credit. “It’s called a research and development (R&D) credit because you completely change the procedural way of doing things,” she explains. “It’s one of those instances where it’s a triple bottom line: The environment benets, there’s a social benet because you’re no longer exposing people at the job site or within the community, and it’s very protable.”Given current world events – Russia cutting off gas supplies to Europe and the ongoing war in Ukraine – Behroyan asks, “Why would you waste the prod-uct when we have a huge shortage?” Reiterating, “We are operating in a very wasteful fashion when it comes to a nite element,” she believes that the shortage of energy in Europe, and pos-sibly elsewhere, could be resolved if just a percentage of the oil and gas that is burned across the world were recovered.The Golden StateDespite the recent natural disasters befalling California (PAXON’s Disaster Recovery has provided eld support to assist in ghting the state’s wildres), Behroyan sees a silver lining in her company being based in there. “I feel incredibly lucky to be living in Califor-nia because it’s a pioneer when it comes to energy. Maybe because we’re not as open to the oil and gas extraction that is happening in other states; as a result, we have to come up with other renewable resources or other approaches.”Behroyan, who has a Master of Science in Civil and Environmental Engineering from the University of California, Davis (‘12), and is a graduate of UCLA’s Ex-ecutive Management Development for Entrepreneurs (EMDE) program, con-siders herself an environmental engineer at heart and, as such, thinks the energy industry offers endless opportunities to improve the world around us. Behroyan was recently invited to speak at EGYPS 2023 – “Think of it as the Davos of the energy industry,” she says, referring to the prestige of the event, which was attended by over 32,000 participants from around the world. Encouraged by the positive signs she saw at the conference, Behroyan says, “Egypt is making big steps to actually reduce its carbon footprint. PAXON was very well received and Egypt is very proactive with its carbon reduction commitments. They are ready to make a change now.”

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21Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comFEATURE“It’s about being willing and having the vision and ability, and a team that’s very diligent in executing new methods, and educating the industry about those changes,” one of which is what she calls “true zero emission work.” “That’s what we do on our recompression projects: We utilize various technologies in the market coupled with implementing procedural changes to recover natural gas emissions at 98 percent quality gas – and that is only our R&D department. That puts us in the business of recovering the waste and returning it to the system where the client can optimize, then resell it, and it is considered renewable. When we think about ESG goals, we don’t just aim for net zero. We really look at it from the job site and ad-dress it from that point. It’s great to be an environmen-tal engineer because this is an industry that is not so prone to change and all the ESG policies, along with the energy companies’ commit-ments, are creating this green movement.”The Driving FactorBehroyan’s father was a developer in the construction industry in Iran and often took his children with him to job sites, where he worked on mixed-use high rises. Her mother was a professional artist and painter. Initially, Behroyan says she took the “middle path,” which was architecture. “I am fascinated with the built environment and I actually joke that I went from building pretty stuff above ground to the stuff underground that most people don’t think about.”Her concern over the way the industry handles emissions goes back at least a decade to the time when she was working on her master’s thesis which focused on injection wells, and eventually led to doing work and research with the California Depart-ment of Oil and Gas. Immediately after graduation, she got a consulting job working at Pacic Gas and Electric (PG&E) just three years after the 2010 San Bruno pipeline rupture.“They were looking to add a female to their group and I was that female,” Behroyan says. “I was just fascinated by the whole industry and why we do things a certain way for many decades and why would we not do them differently given the tech-nological advancements. I was driven by so much curiosity; I think that’s what it is over the long term.”A Diverse Workforce: Women, Refugees and VeteransAs an immigrant from Iran – Behroyan came to the U.S. to attend UC Berkeley and later UC Davis – and a member of a more than one minority group, it’s not surprising that Behroy-an would make it a priority to help other newcomers to this country, and one of the ways she does that is through workforce development.“I know the road is really hard and there’s a lot of pushback, so it takes us women advocating for women,” says Behroyan, who is the board president for the Na-tional Association of Women Business Owners (NAWBO) for the San Francisco Bay area. “Workforce develop-ment is something that’s really close and dear to my heart. When you have folks that the job really means something to, like the Afghan refugees we interviewed from Miry’s List (a nonprot that helps refugee families), when you help one of them get a job, you are sending their kids and grandchildren to college. You’re basically developing talent ahead of that given generation.” Another area PAXON concentrates on is hiring female eld inspectors. “Finding women for eld work is not an easy thing,” Behroyan says, “so my management team actually does a great job of searching for and mentoring the women, and then helping them through their certication process and training. We have a 10 percent women’s initiative for hiring women inspectors.”In looking at workforce development, the company also seeks to hire male and female military veterans. “They have skill sets that they have been taught and developed over the years and there is value to that,” Behroyan believes. “The oil and gas industry is not one of those industries you go to college and learn about; it’s all about eld training. Veterans already have unparalleled discipline and this industry relies on absolute ac-countability, safety and responsiveness.”Continued on next page...“In the pursuit of your goals and dreams, you have to be not just resilient, you have to be relentless. That takes a certain personality.”

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22Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comFEATUREBehroyan sees PAXON as a company that is trying to pioneer an industry and, from the perspective of a female entre-preneur, says, “When you look at a com-pany being successful, I think as women there are two things: One is we have to do twice as much to only get half as far. The second is that, in the pursuit of your goals and dreams, you have to be not just resilient, you have to be relentless. That takes a certain personality,” Behroyan acknowledges, “so my hope is to hire and develop as many women and women engineers as possible. The beauty of the oil and gas industry is that once you’re in it, you’re in it for decades to come.”Forward MovementBehroyan looks at longevity in her work-force, her role as CEO, and the future of the energy industry, although she is not so much interested in changing the latter as she is on procedural and process changes.In reecting on what PAXON has done with methane emission recovery in the last ve or six years, Behroyan says it’s the procedural changes that make all the difference. “We went from venting into the atmosphere to not venting, and recovering at 98 or 99 percent. That’s where I’m focused: Taking smaller steps and being focused on the progress on a general basis that would follow. I think of it as a movement.”PAXON is gaining recognition as one of the leaders at the forefront of that movement. The company recently won a ve-year contract for all of Kinder Mor-gan’s integrity management work, and the overall assessment of its pipelines starting this year. With over 82,000 miles of pipeline and 140 terminals, Kinder Morgan is one of North America’s larg-est energy infrastructure companies.“We’re thrilled not just to have them as a client,” Behroyan says, “but this gives us an opportunity to source next-level technologies to the industry and pair that with best practices, one of which is methane emissions recovery.”“Methane is 80 times more powerful in its warming ability than carbon dioxide in its rst decade into the atmosphere, so maybe we are too focused on the wrong type of carbon,” Behroyan as-serts. “PAXON’s work is not prevention; it’s elimination. I am not anti-fossil fuels. What I root for is keeping the hydrocar-bon fuel in the vessel that it’s meant to stay in.”

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23Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comNEW BOOK RELEASEI wrote about the oil and gas gender gap in my last book, Bil-lions at Play: The Future of African Energy and Doing Deals, but as we expand Africa’s energy mix, I feel the need to revisit this topic. We must put a stop to Africa’s energy industry gender disparity. We need to create more opportunities for women to join the sector, from oil and gas to renewables, in higher-paying jobs. Positive ImpactsResearch proves that when women have access to meaningful employment, more rights for women and gender equality follow. The ability to earn their own incomes and maintain their independence creates personal empowerment with far-ranging effects. The United Nations said, “When more women work, economies grow. Women’s economic empowerment boosts productivity, increases economic diversication and income equality in addition to other posi-tive development outcomes.”Women tend to have a positive impact on the businesses they work for and lead, from improved communication and innovation to prot-ability. After the Peterson Institute for International Econom-ics surveyed 21,980 rms from 91 countries, it found that having women at the C-suite level signicantly increased net margins.First Round Capital says that companies with female founders or leaders performed up to 63 percent better than male-led companies. The CFR Women and Foreign Policy Program’s new digital report, Growing Economies Through Gender Parity, brought these arguments closer to home. The report, which incorporates data from the McKinsey Global Institute, main-tains that Nigeria’s gross domestic product could grow by 23 percent – USD229 billion – by 2025 if women participated in the economy to the same extent as men. And the International Monetary Fund (IMF) has found that strengthening gender equality in Nigeria could be an economic game-changer, lead-ing to higher productivity and greater economic stability.The benets of closing the gender gap don’t stop there. Because of their experience and backgrounds, women bring dif-ferent perspectives on a wide range of issues to the workplace. Introducing more diversity of thought into group problem-solving situations, in particular, can resolve complex issues faster and better, improving overall productivity. Imagine how bene-cial it would be to have a plethora of possible solutions to test and choose from because there is more diversity on the team.According to Elizabeth Rogo, the founder and CEO of Tsavo Oileld Services in Kenya, new perspectives stemming from gender diversication can lead to more innovation and creativ-ity in the energy sector, along with social benets: The more female leaders in the industry, the more likely women are to consider similar careers themselves.When we educate women to succeed and hire for positions based on merit without regard to gender, we promote equality and encourage suc-cess for all of Africa.As Africa strategically grows its energy mix and we work to create opportunities for Africans, we must make sure that we are doing the heavy lifting to ensure women can seize those oppor-tunities, too.One major roadblock for women in Africa’s workforce is a lack of access to education. Hu-man Rights Watch reported that in nearly 90 percent of [Sub-Saharan Africa], one-third of primary school age girls aren’t in the classroom. Sadly, the numbers at the secondary school level are equally grim. Two issues related to the region’s culture of early marriage keep teenage girls out of school: Forty per-cent of Sub-Saharan girls marry before age 18, and then many are expelled because they are pregnant or young mothers. Ad-ditional problems include bullying and sexual violence against girls while they are commuting to or attending school, lack of funding for girls’ education – it’s the lowest budget priority in too many African countries – lack of privacy and sanitation at schools, and cultural norms that place little value on girls and/or girls’ education.Excerpted with permission from the author from A Just Tran-sition: Making Energy Poverty History with an Energy Mix (Made for Success; March 2023). NJ Ayuk, JD, MBA is an internationally-acclaimed thought leader, lawyer, thinker, speaker and entrepreneur, who advises major companies on corporate strategies with a focus on investing in Africa’s future. He also serves as the executive chairman of the African Energy Chamber, CEO of Pan-African corporate law conglomer-ate Centurion Law Group, and is the author of Big Barrels as well as the bestselling Billions at Play: The Future of African Energy and Doing Deals. Visit njayuk.com. A Just Transition: Making Energy Poverty History By NJ Ayuk

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24Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comBITCOINThe Potential for a Synergistic Relationship: How Oil and Gas Companies Can Leverage Bitcoin Mining By Laura PommerHow does a geologist from Boulder, Colorado, nd herself running an off-grid Bitcoin mine on the outskirts of Beeville, Texas?Like all great journeys, it started with a giant leap of faith. In 2021, I was ap-proached with an offer from the owners of EnergyFunders, a digital platform that connects individual investors with direct oil and gas investments at the wellhead. They were rebranding the business and overhauling their existing team, and wanted me to lead the effort as CEO.It was a huge risk. After all, I was com-fortable running the private oil and gas exploration company that I founded, Century Natural Resources. But some-times, comfortable can mean stagnant. And after all, there are thousands of oil and gas companies. There was only one com-pany promising to revo-lutionize the very concept of energy investing.EnergyFunders pre-sented an opportunity to disrupt business as usual, by opening up the opaque world of direct oil and gas investing to the individual. The busi-ness model was similar to online real estate platforms, like FundRise or Cadre, that opened up access to previously exclusive investments in commercial real estate development. The EnergyFunders digital platform brings this model to the even more complex – and potentially more lucrative – world of oil and gas investing.After long consider-ation, I decided that this was a mission on which it was worth risking it all.The key swing factor in the decision was the alignment in philosophy I shared with the owners of the organization. You see, traditional oil and gas compa-nies are risk-averse, conservative organi-zations. The reason I started my own oil and gas company was to break free from this mold. Even though the princi-pals of EnergyFunders have decades of experience as successful oilmen, they’re not afraid to challenge the status quo and re-think every aspect of the business – and that’s how we got involved with Bitcoin mining.I rst came across Bitcoin mining at my previous company, Century Natural Re-sources. One of our wells was producing excess natural gas as a by-product from oil production, and local regulations prevented us from aring that excess gas. So, we needed a way to divert that gas in order to keep the well running.After consulting with our private equity sponsor, we learned that our sister com-pany faced a similar problem with one of its wells in the northern DJ Basin in Colorado. Its solution was to divert the excess gas to an onsite natural gas gen-erator, which supplied power to a series of ASIC computers specially designed for Bitcoin mining.It was an elegant, win-win solution that turned the liability of excess gas into an asset, in the form of newly minted Bitcoins.EnergyFunders CEO Laura Pommer (L), Elizabeth Ryan, VP of Investor Relations (C), Ginny Urban Light, VP of Reservoir Engineering and Regulatory Affairs (R). Photos courtesy of EnergyFunders.

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26Oilwoman Magazine / March-April 2023 / OilwomanMagazine.commentioned the idea to our principals. As long-time oil and gas operators, they had access to numerous natural gas wells located in remote areas that were go-ing untapped due to lack of takeaway infrastructure.They were admittedly skeptical at rst glance but, after crunching the numbers, they quickly realized the scope of the op-portunity. Most importantly, the concept was a perfect t within the broader mis-sion of EnergyFunders to democratize access to the previously exclusive world of direct energy investing. Even though Bitcoin mining has enjoyed explosive growth over the past several years, it’s still out of reach for many small investors, who lack the capital required or expertise to build a Bitcoin mine.We also learned that many of our existing energy investors were thrilled to get ac-cess to this unique way of Bitcoin invest-ing. We started on the journey to make Bitcoin mining accessible to individual investors, by offering access to a fraction-al ownership in off-grid Bitcoin mining, powered onsite directly from wellhead natural gas.We’re now over a year into this project, and we’ve had our share of ups and downs in proving the concept. Despite my previous experience and the deep technical background of our engineer-ing team, we faced many new technical challenges in building a new onsite mining model from the ground up.In working through these challenges, we’ve developed a robust rst iteration that we believe is truly scalable to the oil and gas world at large. The biggest challenge, like in oil and gas investing, is managing the commodity price cycle. Even though we greenlighted the proj-ect when Bitcoin was trading at around $45,000, by the time we had mapped out the blueprint, nalized offering docu-ments and raised capital, Bitcoin prices had climbed to $65,000. Along with higher Bitcoin mining prices, the cost of the mining computers rose as well.Of course, we all know what has hap-pened with prices since. This decline in prices has presented an economic head-wind to the rst iteration of our mining efforts, given the dif-ferential between input costs and current Bitcoin pricing.The biggest thing that I’ve taken away from the entire process is that oil and gas economics are very similar to Bitcoin economics. They’re both highly cyclical commodities, which means that suc-cessful investing requires a contrarian mindset. Many of the investors who were excited to put capital to work at the peak in prices are now more cautious, given the recent price declines. As a natural contrarian, I’ve personally never been more excited about the prospects of Bitcoin mining than I am today. As Bitcoin prices have fallen over the past year, so too have the costs of min-ing; most notably, we’ve seen a large drop in the key input of computing prices. If you’re a believer in the long term viability of Bitcoin, there’s truly never been a better time to get involved in this space. Over the last several years, miners like EnergyFunders have proved their processes and worked out the technical challenges. Now, with a robust mining process ironed out, we look for-ward to capitalizing on today’s compel-ling economics to scale up this model in the years ahead.Life is all about risks, and oftentimes those who make the leap early ght the toughest battles to see the greatest rewards. We’re excited to be at the fore-front of these complex challenges, and look forward to rewarding our investors who believe in the future of Bitcoin.BITCOIN

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27Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comBITCOINRebecca Ponton: You started your career in the oil and gas industry as a geolo-gist. What was the motivation for you to leave a stable career path and go out on your own?Laura Pommer: I have always been highly risk tolerant. Any good explora-tion geologist needs to be. I think be-cause of that I have a more natural ten-dency to be entrepreneurial. When I fell out of the nest of a comfortable, stable job, and into the world of entrepreneur-ship, it really didn’t faze me very much. I’ve always wanted to control my own destiny and blaze my own path, even if it means less stability along the way.RP: You founded Century Natural Resources and were CEO at a relatively young age. Where did you nd the cour-age to take that risk?LP: To be brutally honest, I didn’t truly understand what a big deal it was at the time. I think that made it easier for me to take the leap. I also had a very supportive network that encouraged me along the way. A few months into the job, I had a realization about what a monumental un-dertaking it was, and decided to dedicate as much time as possible toward making the company a success, sometimes to the detriment of my personal life. I took it upon myself to be an example for young female oil and gas or technical entrepre-neurs behind me. I really want to help pave the way for smart young women to do what I’ve been lucky enough to do.RP: You are now CEO of a second com-pany, EnergyFunders. What advice do you have for other women who aspire to become entrepreneurs?LP: My advice is to not let the job entirely take over your life. It can be very easy to do and, in the rst role I had as a CEO, I denitely succumbed to it. Now I have a much more reasonable work/life balance. A lot of roles do not afford that and so it is a higher risk. I have made enormous personal sacrices in order to get to where I am. Perhaps the most difcult truth to swallow is that I didn’t always consciously choose to make some of those sacrices. Sometimes they just happened. You need to be extraordinarily exible to be in this line of work and extremely open to learning and change.RP: How do you reassure investors over concerns about Bitcoin mining in light of the “crypto winter” in 2022 and the collapse of FTX?LP: The most important thing to appre-ciate is that Bitcoin is not synonymous with cryptocurrency. In my opinion, the only important cryptocurrency as a store of value is Bitcoin. Ethereum can be used for development protocols, but Bitcoin is the only reasonable answer to the ination and corruption issues that we have with at currency. The FTX collapse was a Ponzi scheme that, un-fortunately, duped a lot of very wealthy individuals. I think the most important takeaway here is to never blindly fol-low people without doing due diligence. There are many other companies doing what EnergyFunders does, and I always recommend that our investors closely examine the background of the people who are running their money. There’s a lot of cloak and dagger stuff out there, and full transparency, including audited nancial statements, is one of the most important things that you should demand as an investor.RP: Any predictions regarding the future of bitcoin mining as it pertains to the oil and gas industry?LP: I know for a fact that more large oil and gas companies will begin mining Bitcoin in the years to come. For many, it will turn into more of a hedge rather than a primary monetization stream. Given the “crypto winter” that we are experiencing right now, the progress may be slowed in the near term. But the true contrarian capital allocators out there who believe in the technology and in Bit-coin – either as a hedge or as a monetary asset to accumulate – will be the ones best positioned to thrive on the other side, in what we believe is still a long-term bull market in Bitcoin.Q & A With Laura PommerEnergyFunders CEO Laura Pommer previously served as the CEO and lead geologist of Century Natural Resourc-es. Pommer, along with her partners, founded Century in October 2018 with $75 million in private equity sponsor-ship. In her role as CEO, she guided the company’s development and management of approximately 150,000 acres in the Powder River basin. This included organic development of both conventional and uncon-ventional assets, ranging from PDP to exploration plays.Before leading Century Natural Resources, Pommer worked in exploration and operations for Anadarko petroleum’s U.S. onshore assets. She also worked for various private equity backed companies on regional and asset level mapping, log interpreta-tion, risk analysis and deal evaluation. A geologist by training, Pommer earned her master’s in geology from the University of Texas at Austin and her bachelor’s in geology from the University of Colorado.Pommer’s experience in deal evaluation and risk analysis, from both a geological and nancial perspective, makes her the perfect candidate for achieving EnergyFunders’ key objective: Elevating the quality and reducing the risk of investments offered on the platform. She is helping lead the emerging movement toward ESG-principled investing. As a female leader in a male dominat-ed industry, Pommer is passionate about mentoring and recruit-ing more young women into the industry.

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28Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comENVIRONMENTAL, SOCIAL & GOVERNANCEGood ESG Practices Lead to Better Operational and Stock Performance By Ayşe Kaşıkçı We encounter the effects of climate change more and more every day. For example, in Turkey, we experienced a winter without snow on New Year’s Eve. Despite this, people still do not think about the consequences of their actions. Because when people do not experience climate impacts in their own lives, they either do not listen to warn-ings or do not accept them as real. In time, the result is that people’s individ-ual behavior turns into a permanent so-cial approach. At this point, it becomes important to change the behavior of individuals rst.This is also the case for companies. Businesses that think about the effects of their actions and take measures to prevent negativity become more valu-able. According to the biannual sus-tainability reporting survey conducted by the global accounting rm KPMG, about half of all companies now report climate risk in their nancial reporting. In particular, the extent to which stake-holder-centered companies integrate environmental, social and governance (ESG) factors into their operations is reected in the improvement of the operations of the stakeholders in the sectors in which they operate, and also causes them to attract more attention from investors.In a study conducted by global asset management rm Arabesque in con-junction with Oxford University, 88 percent of the 200 studies analyzed showed that good ESG practices lead to better operational performance, while 80 percent showed that stock price performance is improved by posi-tive sustainability practices. It has also led to change within the investor com-munity, where ESG investing is pre-dicted to overtake traditional investing in Europe as soon as 2025. Companies with more robust ESG track records in their operations are now more favor-ably evaluated and preferred by inves-tors. In addition, it is widely recognized as crucial for better risk management. Within the scope of climate change, companies operating in areas that affect “energy transformation” are under more scrutiny in this regard. The status of the materials that these companies will use in their operations is also under scrutiny.According to the International Energy Agency (IEA), the ESG impacts of mining projects include geopolitical tensions, armed conicts, human rights violations, bribery and corruption, emissions, water stress and biodiversity loss. This is because adequately man-aging mineral resources can support economic development by contributing to public revenue, lifting disadvantaged populations out of poverty and provid-ing a decent economic livelihood.As is well known, lithium, nickel, cobalt, manganese and graphite are crucial for battery performance. Rare earths are essential for permanent mag-nets used in wind turbines and electric vehicle engines. Electricity grids require large amounts of copper and alumi-num, and copper is the cornerstone of all electricity-related technologies.In order to meet the goals of the Paris Agreement (as in the Sustainable De-velopment Scenario), mineral require-ments are expected to quadruple by 2040, with clean energy technologies requiring far more minerals than their counterparts. In addition, to reach net zero globally by 2050 means that up to six times more minerals will be needed in 2040 than today, for a faster transi-tion to these technologies, which will require lithium, nickel, cobalt, graphite, copper, aluminum and rare earths.The growing importance of critical minerals in a decarbonized energy system also requires those working in this eld to broaden their horizons and assess potential new risk areas. The scope of risk goes beyond the environ-ment. Failure to properly manage these risks can expose governments and companies to ethical and reputational criticism related to ESG.For these reasons, as noted in the IEA publication, stakeholders are expected to further support efforts to improve the

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29Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comENVIRONMENTAL, SOCIAL & GOVERNANCEgovernance, transparency and account-ability of the mining sector globally.A key reason ESG risks have attracted so much attention is that they aim to be the “right thing” to do for affected areas. As the world makes progress to-ward global climate goals, it is inevita-ble that the energy transition will need to be people-centered and inclusive.Here, the real change should start with stakeholder-based companies and lead to the change/transformation of the sector. Because companies that do not take ESG factors into account or do not take the necessary precautions may lose investment, have difculty in ob-taining a social license for the sites they operate in, experience supply shortages, be directly exposed to climate risks in water-stressed areas, and experience difculties associated with conict-affected or high-risk areas.In this context, embracing change is a priority, and the development, ho-listic integration, implementation and enforcement of strong ESG standards and reporting frameworks at all levels requires support from technical assis-tance and capacity building, transparen-cy, anti-bribery and corruption, supply chain monitoring and legal frameworks.Looking at the sample processes, it is seen that the positive effects that ESG factors can theoretically provide can be achieved especially by improving governance.As a result, for the development of so-cieties/sectors according to the highest possible ESG standards, it is vital for individuals and stakeholder-centered companies to change their behaviors, raise their awareness, and cause the formation of governance resources to support them in this regard.Reprinted by permission from the au-thor. This article originally appeared in the January 26, 2023, issue of mining.com, and has been lightly edited for this publication.Ayşe Kaşıkçı is an inde-pendent consultant. She previously worked in the automotive sector for seven years and in the oil and gas sector for ve years at leading private companies. She has multidisciplinary experience in investment planning/coordination and interdepartmen-tal collaboration. In addition to her independent consultancy and contin-ued research activities, Kaşıkçı’s main focuses are electromobility, energy transition and ESG. Breaking the Gas Ceiling: Women in the Offshore Oil & Gas Industry by Rebecca Ponton | Foreword by Marie-José NadeauThe international petroleum industry has long been known the world over as a “good old boys' club” and nowhere is the oil and gas industry's gender imbalance more apparent than offshore. The untold story, shared in these pages, is about the women who have been among the rst to inhabit this world, and whose stories previously have been a missing part of the history of the industry.Available from www.breakingthegasceiling.com or on Amazon “As a CEO, I believe it is imperative for today’s generation of young women to realize there is a seat for them in the boards of oil & gas companies as the “gas ceiling” can be broken quicker and easier than before. Reading this book, they will think about these women who have gone before them and broken down those barriers in order to give them new opportunities.-- Maria Moræus Hanssen, CEO, DEA Deutsche Erdoel AG“My belief is that diversity is key to both creativity and solid long-term business results. Even in a country like Norway, where professional gender diversity is greater than in any other country I have had interactions with, we have an underrepresentation of women in top management positions. I would therefore like to express my appreciation to Rebecca Ponton for keeping this important subject on the agenda by presenting to us positive, impressive and, at the same time, obtainable role models.-- Grethe K. Moen, CEO & President, Petoro AS“Everyone needs role models – and role models that look like you are even better. For women, the oil and gas industry has historically been pretty thin on role models for young women to look up to. Rebecca Ponton has provided an outstanding compilation of role models for all women who aspire to success in one of the most important industries of modern times.-- Dave Payne, Chevron VP Drilling & Completions“Rebecca Ponton has captured the compelling stories of many women, both the early pathnders in the oil and gas industry and new entrants. Through these stories, it is very satisfying to now see that the industry has matured to be a place where anyone – man or woman – who commits themselves to high performance can succeed. No doubt we are all the beneciaries of these intrepid women who have dened themselves by their work ethic and commitment.-- Greta Lydecker, Managing Director, Chevron Upstream Europe

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30Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comSPOTLIGHT ON COLOMBIAPetro and the End of Oil Exploitation in Colombia By Angela Levy and Carlos Arturo ToroOn August 7, 2022, Colombia made a 180 degree turn in terms of managing its economic policy by electing the rst pres-ident with a clear socialist vocation and tendency. One of the oldest democracies on the continent, with uninterrupted elections since 1830, saw an ex-combat-ant of a subversive group take ofce for the rst time as president (and as com-mander of the military forces). Gustavo Petro, who laid down his arms at the end of the 20th century to join political life, has held important public positions, as Representative to the Cameral, Senator of the Republic, Mayor of Bogotá, the convulsed Colombian capital, and now president of the nation.Always accompanied by controversy due to his radical proposals, which arouse de-tractors and supporters among all parties and regions, who consider him, respec-tively, as the cause or the solution to the country’s problems, Petro’s government programs seem completely contrary to what has been the historical management that the traditional parties have given to the country’s economy. In addition, his proposals promise to modify fun-damental sectors of society, such as the provision of health services, the general system of pensions, and the reform of property and agricultural production.Above all, the proposal that has gener-ated the most controversy is the one that promotes the denitive suspension of oil exploration and exploitation in Colombia, as well as the reduction to a minimum of coal production for export, and the accelerated transition toward the use of clean and renewable energy.For many economic analysts close to the energy and hydrocarbon production sector, this is not even a serious proposal worthy of consideration, one that does not obey a responsible analysis of the country’s economic situation, and which seems more like clientelism and dema-gogy, so common in Latin American left-wing rulers.For other “greener” sectors, such as the political parties that support the cur-rent government, different national and foreign environmental organizations, and a good part of the population, what President Petro is proposing is simply the inevitable future that Colombia will face Photos courtesy of texbr – www.123RF.com

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31Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comSPOTLIGHT ON COLOMBIACFO Services and Business Management ConsultingGet The Most From Your Energy BusinessOur Energy CFOs Help You Understand Your Company’s Financial Health and Drive Growth Save Time And Money • Transform Your Business • Understand Your Finances • Build Leader CondenceSchedule a CFO Consultation • www.theenergycfo.com • cfoinfo@theenergycfo.com • 210-802-8640 in the coming decades: Ending the country’s dependence on oil production and exports and the foreign currency it generates (more than 40 per-cent of the country’s total income comes from oil and coal exports) and thus be prepared for the future outlook.One of the main defenders of the energy transition pro-gram proposed by the government of Gustavo Petro is the current head of the country’s Ministry of Mines and Energy, Dr. Irene Vélez Torres, who studied philosophy at the National University of Colombia, and earned a master’s degree in cultural studies from the same university, and a doctorate in geology and political geography from the Univer-sity of Copenhagen in Denmark. As a Fulbright Scholar in 2020, Vélez pursued a postdoc in environmental engineering and science at Clemson University in the U.S. She carried out additional postdoctoral research in 2021 for the Center for Social Studies of the University of Coimbra in Portugal.In line with the gov-ernment to which she belongs, Minis-ter Vélez has called on the governments they consider “ideologi-cal allies” of Latin America and the world to form a new economic bloc that will dis-tance their countries from dependence on the extraction of non-renewable fos-sil fuels, and, in the case of Colombia, promote the transition to an economy driven by tourism, along with agricul-tural production at its full potential. And thus, effectively collaborate in the ght against climate change and against the economy of “the death,” as President Petro has cataloged the current world economic model, of generating and consuming large amounts of energy, regardless of the environmental damage that this entails.Let us remember that Colombia is one of the main producers and exporters of thermal coal, with more than 54 mil-lion tons per year, but it barely exports between 200,000 and 300,000 barrels of crude oil per day, mainly destined for reneries in the United States. These two sectors of the economy represent more than 40 percent of the country’s total income and the main resources to nance most of the social programs.However, the current government asserts that, historically, the activity of extracting fossil fuels has had little benet to the Continued on next page...Dr. Irene Vélez Torres

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32Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comSPOTLIGHT ON COLOMBIAcommunities that inhabit the mining regions and has only served to increase the prots of the private shareholders of the Colombian oil company Eco-petrol, multinationals that operate in Colombia, and the holders of conces-sion and association contracts for the exploration and extraction of crude oil.The main detractors of the current “progressive” government and its energy proposal state: First, the coun-try’s oil production is already in decline, even without government intervention. (According to the National Hydrocar-bons Agency, in 2021, proven reserves were estimated at 83 percent, and pro-duction at 73 percent, with the highest levels being reached in 2013.)Second, given that more than 60 per-cent of the country’s oil production is exported, the global warming mitigat-ing impact of such policy depends on Colombian oil importers, primarily the United States, not substituting oil from other countries.Third, this policy does not focus on the country’s environmental footprint, measured by its greenhouse gas emis-sions, which are relatively small. In ef-fect, Colombia ranks 121st in terms of CO2 emissions per inhabitant, which is only 11 percent of the emissions per inhabitant of the United States.In addition, 74 percent of the coun-try’s electricity production is based on renewable sources, mainly hydroelec-tricity, while domestic use of coal, the most harmful fuel for global warming, is relatively small.The country’s performance as a CO2 emitter is acceptable because its per capita energy consumption is low. (Co-lombia ranks 40th in the world and its oil consumption per capita is half of other countries like Mexico.) If we go deeper into the details of the country’s fossil fuel consumption, it is dominated by oil with 36 percent of national pri-mary energy consumption and natural gas with 23 percent.With respect to gas, its production is in decline as well, so much so that the country has lost its self-sufciency. In addition, most of the natural gas produced in the country is associated with oil production: Almost 50 percent of the gas production is required to be reinjected to obtain oil. In this context, a policy that seeks to restrict the develop-ment of new oil elds could result in a reduction in the availability of natural gas for domestic consumption, because producers may need to reinject more gas to increase oil recovery in existing elds.Despite the criticism, the current Colombian government maintains that, with sufcient resources and the appropriate plans, its energy substitu-tion program is not only possible, but convenient for the country. Specically, through comprehensive support to agricultural communities (with subsi-dies and purchase of crops), the ght against political corruption, the coun-try’s pacication process, and the revi-talization of clean economies, it would generate sufcient resources to replace the current income received from the export of coal and oil.However, the approval of the laws and the legal framework derived from these proposals will necessarily have to be debated and approved by the Congress of the Republic and the Constitutional Court, which will dene the legality and Constitutionality of the government programs. Undoubtedly, the experts assure that it will be one of the most important and controversial debates for the current legislature, to which the government and its minister of mines promise “not to be intimidated” and have openly declared: “Planet Earth is the common home of human beings. And Colombia, from its enormous natural wealth, will lead the ght to protect it.”Angela Levy was born in Colombia and be-came a U.S. citizen in 2012. She is now a dual citizen of the two coun-tries. She holds two master’s degrees, an MBA and another in accounting. Levy worked as a production engi-neer in Colombia before moving to the U.S., where she worked in the nance and accounting group at Halliburton for a decade. She later worked with special needs children for ve years. Levy now spends her time traveling the western U.S. and recently returned from an extended visit to Colombia.Carlos Arturo Toro is a native of Colombia. An economist, he holds a master’s degree in nance. For more than 15 years, he was dedicated to the banking sector, as a credit analyst for Banco Popular de Colombia and as the national director of credit of various nancial institutions. For sev-eral years after nishing his career in the banking sector, Toro worked as a tropical glacier guide and, periodi-cally, as a volunteer park ranger for the Colombian National Park. Sources:Gustavo Petro’s Oil Policyby Phillips Wright ObservatoryEl Espectador newspaper, Bogotá (August 22, 2022).Figures on Production and Rening in Colombia for the Last 20 YearsHydrocarbon National AgencyOfcial bulletin (July 2022).The Oil and Energy Policy-Next Govern-ment Challengeby Cristian Acosta ArangoLa República newspaper, Bogotá (April 8, 2022).Gilberto Arango LondonoColombian Economic StructureMcGaw Hill Publisher, Bogotá (1994).“Planet Earth is the common home of human beings. And Colombia, from its enormous natural wealth, will lead the ght to protect it.”

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Energy Software | Oil and Gas Saas ERP SoftwareTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYMay / June 2022OilwomanMagazine.comAnn G. Fox President & CEO, Nine Energy ServiceEnergy Software | Oil and Gas Saas ERP SoftwareTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYMarch / April 2022OilwomanMagazine.comAleida Rios Senior Vice President Engineering, bpTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYJuly / August 2021OilmanMagazine.comEnergy Sector Cyberattacks: Threats Growing, Defenses Available p. 36How Cloud Software is Helping Energy Companies Move and Measure Hydrocarbons Backed by World Class Cyber Security p. 4Young Professionals in the Oil & Gas Industry: Interview with Adedayo Iroko p. 26Eliminating the Indecision of Exercising Stop Work Authority p. 10Mark A. Stansberry, Energy Advisor & Corporate Development StrategistTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYJuly / August 2022OilmanMagazine.comRandy Nichols, Founder & CEO, Cinco Energy Management GroupEnd-to-End SaaS ERP SolutionsTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYAugust 2021OilwomanMagazine.com NAPE + OTC Editionwith Mark StansberryTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYSeptember / October 2021OilmanMagazine.comForeign Countries Given the Green Light in Oil Production, U.S. Held Back p. 42ERP Innovation Imperative: Why Legacy Tech is Holding Back the Energy Back Ofce p. 4How an Energy Data Platform Fuels a Competitive Advantage p. 14The Digital Worksite Maximizes Operational Efciency, Ensures Safety During Turndowns and Shutdowns p. 12Gaurdie Banister, Jr., Former CEO, Aera Energy, and Corporate Board MemberTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYMarch / April 2021OilmanMagazine.comCliffe Killam, President & Partner, Killam Oil CompanyAssessing Downstream Cybersecurity Threats and Budgetary Concerns p. 40Four Ways Digital Unlocks Value for Oil and Gas in the New Normal p. 10The Fate of Flaring p. 32New Advances Lead to More Efcient Petrochemical Reneries p. 14THE MAGAZINE FOR LEADERS IN AMERICAN ENERGYJanuary / February 2022OilwomanMagazine.comIman Hill Executive Director, International Association of Oil and Gas Producers (IOPG)Energy Software | Oil and Gas Saas ERP SoftwareTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYNovember / December 2021OilmanMagazine.comThe American Shales: From Rich Rock, Uncon-ventional Ideas and Unwavering Determination to a Renewed World Energy Future p. 32Field Operations and Production Receive Big Boost in Information Systems Management p. 8Unify Well Delivery Processes Across Functions p. 24Interview: Brett Chell, CEO, Cold Bore Technology p. 12Jason Spiess, Journalist, Founder, The Crude LifeMental Health Special: Emerging from the Year That Was p. 24STEM: Thrill Seekers, Humanitarians, Inquisitive Types p. 14A Day in the Life of Robotics Entrepreneur, Dianna Liu p. 12Honorary Oilwoman, Chris Dao: What Power Means to Me p. 8THE MAGAZINE FOR LEADERS IN AMERICAN ENERGYMay / June 2021OilwomanMagazine.comDonna Fujimoto Cole, Founder and CEO Cole ChemicalTHE MAGAZINE FOR LEADERS IN AMERICAN ENERGYMay / June 2022OilmanMagazine.comOwners (left to right) Hank, Mark, Paul and Eric DanosEnergy Software | Oil and Gas Saas ERP SoftwarePaula Glover’s Holistic Approach to Leadership p. 42Dennis Kennedy, Founder, Energy Diversity & Inclusion Council p. 38Paula Gold-Williams: The Nation’s Only Black, Female CEO in Utilities p. 22Nuclear Myths Versus Reality p. 12THE MAGAZINE FOR LEADERS IN AMERICAN ENERGYJanuary / February 2021OilwomanMagazine.comPaula McCann HarrisFormer Global Director, Schlumberger Be the news or get the news.Advertising@USEnergyMedia.com • (800) 562-2340 Ex. 1SUBSCRIBE OR ADVERTISE TODAY!OilmanMagazine.com/subscribe OilwomanMagazine.com/subscribeTo subscribe, visit: To subscribe, visit:

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34Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comWithout a doubt, LinkedIn is a space for a job search. It is the largest professional network in the world: People describe their resumes, skills, and can strengthen their professional relationships. This network is the perfect ally to achieve your goal of nding a job.This is the case of the group, Empleos Petroleros (translated: energy industry jobs). As a [Colombian] petroleum engineer, after losing my job and going through the journey of looking for a job, I decided to create a group to help professionals in the oil and gas sector to nd their dream-job opportunity.Being a Bogotan engineer, I realized that after the cyclical falls in oil prices and during the pandemic, many petroleum engineers and professionals in the en-ergy industry lost their jobs, raising the question: How [can I] help professionals in our sector?What Is It?It is a group that shares information about job offers, academic information, news and data of interest from the oil and gas sector. It was created in 2018 as a text messaging group that shared job vacancies related to engineering, geol-ogy and other related activities of the oil industry.Since the number of members was growing every day, we decided to migrate to LinkedIn, through an attrac-tive name – Empleos Petroleros – that would catch the attention of profes-sionals, and later social networks such as Facebook and Telegram.When Did the Name Positioning Occur?The moment arose spontaneously, with-out any pretense, when as the creator, during my own job search, explored possibilities to improve my professional prole, connect with other people, and mainly look for those vacancies that t with her skills. I began to share and col-lect all this information in a single space, with the idea that it could be useful to other professionals, thus becoming a daily task where she earned the affection and trust of people.I get constant support, gratitude [from people] for having found a job, compa-nies that want me to publish their job opportunities, and new links with other industry associations. The evolution of the group reached more and more people, and currently has more than A New Way of Searching for a Job By Astrid GómezSOCIAL MEDIA

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35Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comSOCIAL MEDIA300,000 members and a forceful posi-tioning in all social networks.Long-Term Plans and Projection?Instagram and TikTok have different types of audiences, but I believe the group can surely be well received, espe-cially considering that I have searched new strategies to communicate with the members, through video tutorials, interviews, and both face-to-face and virtual events.Empleos Petroleros will continue to share job offers in the oil and gas sec-tor, will seek to strengthen networking through events, will build spaces where people can share efforts and innovation to the industry from individual and col-lective experiences, empowering profes-sionals in the hydrocarbon sector, and allow them to show their knowledge and professional performance.In the coming years, the group will con-tinue to grow and support the energy industry, being recognized as a group specialized in recruitment, achieving the loyalty of companies and professionals in the industry.Why Follow Empleos Petroleros?Because it is an attractive group for companies and professionals in the energy sector that, in addition to sharing job offers, provides tools for professional growth, allows interaction through its events, networking with people in the industry, and it is one of the largest groups and best positioned in the country with a vision of signi-cant growth.Advice for Professionals Looking for a JobYou need to have a clear projection, de-ne your professional and work objec-tives, then create an attractive resume, a differentiating prole, making use of digital tools to connect with people in your industry, attend relationship and networking events, and – nally – apply for that dream job.LinkedIn (275,000 members)Facebook (22,900 members)Instagram (8,000 members) Astrid Gómez is the founder of Empleos Petroleros. She is also a petroleum engi-neer, a specialist in nance with an MBA in Logistics and Operations Management, and has 12 years of experience in the hydrocarbons sector. Gómez has a bachelor’s degree in petroleum engineering from the Universidad de América and an MBA from the Universidad Externado de Colom-bia. Follow her on LinkedIn. Astrid Gómez at the 2022 Women In Energy (WIN) Awards. Photos courtesy of Astrid Gómez.Members of Empleos Petroleros (founder Astrid Gómez, second from the left) meet for coffee.

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36Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comTWO PIERS CONSULTINGWomen as Allies - Part II By Erica D’EramoIn the January/February issue, we explored the perception that women do not support other women. We peeled back layers of misconceptions and un-covered underlying patterns and dynam-ics. Part II will equip you with ways to interrupt these patterns and be an agent for positive change, as an individual or a leader.There’s a common theme underpinning many of the dynamics we’ve discussed: “A system of society or government in which men hold the power and women are largely excluded from it.” Yes – I just provided a Merriam-Webster denition of patriarchy. It is not women’s respon-sibility to dismantle patriarchal power structures, but we can understand our options to disrupt patterns that create barriers to equality. The benets are priceless. Envision a world in which we consistently nd joy in each other’s successes, where we can rely on professional sisterhood for ally-ship and encouragement, where we pass down knowledge and wisdom between generations, and where we reject out-dated stereotypes and biases. Breaking the Patterns When discussing thorny topics in my workshops, I offer a standard evaluation sequence: “Internal, External, Context,” and each step is approached with curios-ity and compassion. First, we start with understanding ourselves: • What are the perceived threats and stories? • What outcome are we seeking? • How are our values challenged? Self-awareness gives us a priceless mo-ment between reaction and response to select the most effective path to-ward our goals. Next, we put ourselves in our counterparts’ shoes and try to understand what motivations, threats or biases might be inuencing them. What knowledge, capability and resources are they operating with? What do we know as fact, and what information is missing? Lastly, we look at context. What are the cultural and structural ele-ments at play? How do history, power dynamics and economic forces inuence this situation? As we break down some of the challenges that lead to unsup-portive behaviors and explore how to disrupt these patterns, you’ll notice this sequence emerge.Challenge: Our Own BiasesThe call is coming from inside the house! Biases, or heuristics, are mental shortcuts that help ration brain capacity to keep us alive (thanks, brain!), but typical of shortcuts, they can cause errors. In fact, our brains prioritize loss aversion over gain-seeking at a rate of 2:1, tricking us into protecting the status quo instead of taking risks for a better future (aptly called “loss aversion bias”). We all live at the intersections of various identities and thus various biases. Sometimes, the biases we inherit are about others, and sometimes they’re about ourselves.*Disruptions:• The rst step is awareness. Statements like “I’m not like most women” or “The problem with most women is…” are strong indicators of internalized misogyny.• Even when we’re aware of a bias, we often can’t mitigate it without putting some guardrails in place. For example, you can utilize free tools like “gender decoders” to check your writing for bias.• Break the cycle. Be the woman who raises up other women when they’re not in the room, who has their backs, and challenges sexist language about their peers.Photos courtesy of yanatomashova – www.123RF.com

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37Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comTWO PIERS CONSULTINGtogether is betterWe offer leadership coaching, DEI consulting and interactive workshops to help unlock, cultivate and support the talent in your organization and create diverse, representative workforces.Erica D’Eramo, Founder and CEO – Two Piers Consulting, PBCinfo@twopiersconsulting.com | +1 (713) 396-0426 | @twopiersconsultwww.TwoPiersConsulting.com*Note: We won’t explore how to diag-nose racial bias in this article because it deserves its own discussion, but we know there’s a gap worth exploring. For example, a 2020 LeanIn and Survey-Monkey study found that 80 percent of White employees viewed themselves as allies to women of color at work, while only 45 percent of Black women and 55 percent of Latinas said they had strong allies in the workplace. Challenge: Articial ScarcityPitting marginalized groups against one another by restricting resources is an age-old tactic to align those groups with existing power structures. It also exacer-bates tribalism and racism as Jane Elliott demonstrated in her blue-eye/brown-eye experiments. When we focus on compet-ing with each other, our energy is wasted holding ourselves back rather than ght-ing for sustainable change. Disruptions:• Next time you’re tempted to seek male approval, attention or validation at the expense of other women, I want you to picture the classic Star Wars meme of Admiral Ackbar yelling, “It’s a trap!”• Beware of the princess crown or the daughter dynamic. It may feel safer on a pedestal, but it is just as restrictive as a cage, and there’s usually only room for one.• Women’s success in the workplace is not a “zero-sum.” When you feel threatened or competitive toward another woman, consider whether an alliance would be more fruitful. Challenge: Fear of the UnknownIf women have largely been absent from our academic and professional lives, we may see them as an unknown and feel unsure about how to interact or what to expect.Disruptions:• By leveraging self-awareness, we can catch the fear before reacting to it. Naming our emotions can be surpris-ingly challenging, but the more speci-city, the better. Journaling or explor-ing your feelings with a trusted advisor can help. • Instead of asking, “How will this negatively impact me?” (i.e., scarcity mindset), we can ask ourselves how it can be a fruitful relationship.• Consider joining a group like Women Offshore or Women’s Energy Network (WEN) where you can develop profes-sional friendships with other women in your eld and normalize those rela-tionships. Continued on next page...

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38Oilwoman Magazine / March-April 2023 / OilwomanMagazine.comTWO PIERS CONSULTINGChallenge: She Started ItSometimes we’re just reacting to an-other person’s behavior. If someone is disrespectful or mean, we’re not obligated to invest further in them. However, understanding what’s hap-pening will allow us to be more effec-tive and challenge the system rather than simply punishing the individual.Disruptions:• First, differentiate between facts and assumptions. What story or narrative have you assigned to this person’s actions?• That initial feeling of tension or aloofness can indicate that it’s time to reach out and connect. Chances are, it’s originating from a place of mutual fear, wariness or a history of being burned. • Take a beat. Even if this person is genuinely malicious, you can take a strategic view versus a reaction-ary one. Understand what lessons are available and what’s best for your long-term well-being. Maybe it’s boundaries, but it’s likely not animosity and distrust. I’ve been lucky to work with some in-credible, supportive women during my career. Even so, I felt anxious when I received an assignment in Angola and learned my back-to-back would be another American woman. We would be two of the only Americans on board and two of the only women, so we were perfectly positioned to be put in competition and subject to comparison. We’d also be heavily reli-ant on each other for information and consistency. I was relieved to receive a message from LaToya telling me how excited she was for me to join the team, defusing my fears. We commit-ted to having each other’s backs and communicating clearly and honestly. Our bond proved extremely impor-tant as we navigated that challenging role together. To this day, I count LaToya as a close friend and ally, and she currently serves on the advisory board for my company.Not every situation has such a resolution. Recognize that some-times you can leverage all of these tactics, and a woman may simply not be ready to engage in solidarity. If you’ve had bad experiences with individual women, remember that they had no more responsibility to represent the entire gender than you do. Try to understand where things went wrong and nd solace in knowing that, for the most part, we’re all doing the best we can. Un-learning these behavioral patterns takes time. It takes rewiring how our brains perceive threats. It takes experience, maturity, and a longer-term, universal view of costs and benets. Some women may never change; they may continue to align with a power structure that op-presses women for their entire lives. But, if one of those women does start to come around, I’d invite you to embrace them and forgive old grievances while taking the precau-tions you need to protect yourself. We need everyone in this together.Engineer by trade. Diversity, equity and inclusion professional by choice. With a success-ful two decade career in the international energy industry, and having been one of the few women in her eld, Erica D’Eramo has made it her life’s work to create diverse, inclusive and equitable workplaces through research, best practice and lived experiences. She is passion-ate about reconciling the academic perspective with practical application to enable organizations to elevate their DEI efforts and change the workplace landscape through those activities with the greatest impact. In 2016, D’Eramo founded Two Piers Consulting to sup-port under-represented communities in the workforce, and provide compa-nies with the tools and strategies to ef-fectively create and grow truly diverse and inclusive workplaces. She holds a Bachelor of Science in Mechanical Engineering from Penn State Uni-versity, and an Executive MBA from University of Texas at Austin.

Oilwoman Magazine March/April 2023

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