Asset Manager

1 month ago

New Iberia, United States W&T Offshore, Inc. Full time
Job DescriptionJob Description

TITLE: Asset Manager

ABOUT THE COMPANY: W&T Offshore, Inc. (NYSE: WTI) is a thriving, independent oil and natural gas producer operating in the Gulf of Mexico, the second-largest producing basin in the U.S. for nearly four decades.

ABOUT OUR EMPLOYEES: We have built a team of talented and collaborative individuals who are committed to cultivating a culture of integrity, honesty, trust, respect, and communication. Our mission is to attract and retain like-minded team members who will grow and prosper within our W&T community.

W&T offers a competitive total rewards program designed to provide competitive pay, health and financial benefits, and work-life balance.

WORKING LOCATION: Houston Office - 5718 WESTHEIMER RD 77057

FULL-TIME/PART-TIME: Full-Time

SCHEDULE: Mon -Thurs - 9 hours (in-office)/Friday - 4 hours (remote)

FLSA STATUS: Salary, Exempt

POSITION SUMMARY:

Align members of Asset Team to achieve Company’s Strategic Goals by delivering Area Team goals and objectives. Ensure communication with technical support.

PRIMARY RESPONSIBILITIES:

  • Manage Area Team Profitability and Growth objectives
  • Develop annual and multi-year budgets through W&T budget process
  • Manage fields and assets to achieve and exceed goals
  • Report monthly to management on progress against goals and budgets
  • Deliver Guidance updates
  • Prepare monthly update on company guidance covering annual expectations of production, capital spend, LOE, and reserve growth
  • Coordinate same with Corporate Reserves and accounting/finance
  • Manage asset valuation
  • Proactively manage AIRES depiction of each asset for planning case and reserves case
  • Conduct monthly updates for each asset
  • Ensure the company has full understanding of complete asset potential (eg: PDP, PUDs, Probables, Possibles and exploratory potential).
  • Manage assets (both operated and non-operated) to maximize profits.
  • Increase reserves, production
  • Manage LOE and unit cost structure (LOE/BOE) to optimize LOE/BOE
  • Identify capital investment opportunities and decision/mature same.
  • Identify exploration opportunities on HBP acreage and decision/mature same.
  • Complete reserves support work through internal generation of reserves position and discussion of same with external reserve group(s) in conjunction with W&T Corporate Reserves group. Ensure delivery of reserves works on time and is accurate.
  • Manage employees: will supervise, coach and evaluate performance of team members; will require close coordination with functional leaders to co-evaluate team and functional members.
  • Maintain Safe and Environmentally sound practices
  • Perform daily surveillance of existing producers
  • Identify tools needed to assess performance – LOE trends, comparison to production and reserve targets. Adjust plans to achieve goals.
  • Complete field studies, document results, and initiate action on recommendations
  • Manage critical leases; prepare quarterly update on critical lease status and urgent plans.
  • Ensure appropriate technical assurance with all functions for all decisions. Gain alliance with functions for decision and ensure teams seek the alignment early in the process.
  • Set team and project priorities
  • Evaluate Pref right offers, and purchase offers to partners (Coordinate same with A&D group)
  • Plan for upcoming activities
  • Provide Production Guidance and Semi-Annual Reserve evaluations
  • Communicate plans with Field and Technical Support Groups – Reservoir, Operations, Exploration, and Facilities, Drilling/Completions, Regulatory, etc.
  • Coordinate effort with company programs – idle iron, SEMS, ARO

KNOWLEDGE, EDUCATION & EXPERIENCE:

  • At least 10 years plus experience as an Asset Manager
  • 5+ years of people management experience
  • Minimum requirement of a bachelor’s degree in engineering and/or equivalent

PHYSICAL REQUIREMENTS:

  • Office environment primarily, Operations site environment when specific evaluation/problems require such or possibly vendor site where new equipment/rehabilitation work is performed
  • Requires occasional travel outside service area
  • Requires supervision of employees and ability to work well with others that are not direct reports
  • Requires wearing personal protective safety equipment (respirators, safety glasses, hard hat, appropriate footwear, ear plugs, etc.) as appropriate when evaluating site or equipment
  • Requires standing, sitting, walking, kneeling, twisting, climbing steps and/or ladders to inspect equipment when necessary
  • Requires operation of a personal computer and related software

This description is intended to describe the type of work being performed by a person assigned to this position. It is not an exhaustive list of all duties and responsibilities required by the employee. W&T Offshore is an Equal Opportunity Employer and is committed to the principles of equal employment opportunity for all employees and applicants for employment.

W&T Offshore Inc. offers competitive total rewards including health & welfare benefits, 401k match, competitive pay and an annual bonus program (STI).

W&T Offshore does not offer sponsorship of employment-based nonimmigrant visa petitions for this role.

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