Comments (January 2005)

Abstract

November saw the passing of two men who, for many, epitomize what is romantic and appealing about the oil and gas industry. Michel Halbouty and Pete Cokinos—Texas wildcatters, lifelong friends—died a day apart. Fitting, for all they had in common. The two SPE members grew up on the same street in Beaumont, Texas, a stone’s throw from the first big oil gusher in the U.S., Spindletop. Both were sons of immigrants to the U.S. who made their livings in the grocery trade and taught their sons the value of hard work and perseverance. Both earned degrees from Texas A&M U., then sought their fortunes in the oil business, experiencing the often tumultuous ups and downs of the independent oilman. Their respective obituaries can be found on pages 69–70. Halbouty was a legend and left a trail of awards and honors almost too numerous to mention. He was the author of more than 400 articles and papers on petroleum geology and related subjects, wrote three books (including a seminal text on subsalt drilling), and was the subject of three biographies. He was one of the world’s best-known geologists. Halbouty discovered more than 50 oil and gas fields in his career and was the first independent to find gas in Alaska. His wildcatting expertise was apparent from the start. His master’s thesis at A&M examined the geology of Atascosa County, Texas, and he urged his university adviser to team up with him and drill there. The idea soon was dropped and Halbouty forgot about it, but that area eventually became home to 50 oil fields drilled by others. Six weeks after graduation, he was working with a survey team on the Texas Gulf Coast. Drilling on a salt dome had found no oil, but the 22-year-old Halbouty was convinced that the drilling had not gone deep enough. Unable to persuade his boss to drill more, Halbouty drove 50 miles that night to the home of the company’s owner. Unceremoniously interrupting a dinner party for the former Prime Minister of Poland in his mud-spattered work clothes, Halbouty cornered owner Miles Yount and said he would stake his job that oil could be found there. The owner gave in, and soon the field was producing 75,000 BOPD. Halbouty’s discoveries in Texas included many big producers such as well-known fields in Wharton, Liberty, Hardin, Montgomery, and Matagorda counties. Cokinos spent most of his career exploring in Louisiana and Texas, drilling more than 40 wells. He was a consultant to Paul “Red” Adair, the famous oilwell-fire specialist, on several oilfield blowouts, including some raging after the Six-Day War in the Middle East in the late 1960s. He always said that he sought a career in the petroleum industry because of the influence of Halbouty who, 7 years his senior, lived next door to him growing up. Halbouty also encouraged Cokinos to attend Texas A&M, which he did, and was the first of 17 extended family members to graduate there. Both Halbouty and Cokinos gave back generously to the school. Halbouty and Cokinos made their marks on SPE as well. Halbouty was a Distinguished Member of SPE, an Honorary Member, a Legion of Honor member, the first SPE Distinguished Lecturer Emeritus, and a recipient of the DeGolyer Distinguished Service Medal and the Anthony B. Lucas Gold Medal. Cokinos helped found the Spindletop Section of SPE and served as its chairperson. Cokinos believed in telling the public about the oil industry; he was a well-known speaker at community events, and he authored a weekly newspaper column on the industry. In addition to their business success, Halbouty and Cokinos are often remembered by friends and colleagues for traits that mark a life well lived. Cokinos stopped by the local funeral home on his way to work every morning to honor those who had passed on, whether he knew them or not. Halbouty publicly argued for a new regulation in the early 1960s that would restrict pumping on Texas oil fields. The regulation became law, and was estimated to have cost Halbouty—who was forced to declare personal bankruptcy twice—U.S. $2 million, but he thought it was in the best interest of the state.