Organizational Dynamics in Managing Change
Case Study: one CRC Reserves Management
Elizabeth DeStephens, P.E.
Thursday, February 23rd, 2016 @ 11:30 AM
San Joaquin Valley Section
Petroleum Club 12th Floor - 5060 California Avenue, Bakersfield
Speaker: Elizabeth DeStephens, P.E. (VP Reserves & Corporate Development, California Resources Corporation)
Reservations: RSVP by February 21st to avoid walk-in payment
Using the corresponding link below to pay online:
Online Payment Link
Email Jeff Kim at Jeff.Kim@CRC.com
In one cycle, CRC reduced the time spent in reserves estimation by 80%, while at the same time performing more extensive controls and reviews over a greater quantity of evaluations. This presentation focuses on the work design principles and implementation process which led to this positive outcome. These principles can be utilized to solve organizational challenges beyond reserves & reporting.
Why is change so difficult?
“Most studies still show a 60-70% failure rate for organizational change projects — a statistic that has stayed constant from the 1970’s to the present.”
-Harvard Business Review, R. Ashkenas, April 16, 2013
Elizabeth DeStephens is Vice President – Reserves & Corporate Development at California Resources Corporation, which spun off from Occidental Petroleum in December 2014. She is responsible for reserves and valuation of CRC’s upstream assets for SEC reporting, credit agreements, external audits, and business development activities. Previously, she served in various engineering roles at Ryder Scott, ExxonMobil, Occidental, and Raymond James Energy Investment Bank. Ms. DeStephens has a B.S. in Materials Science from the University of Florida, an M.Eng. from the University of Houston, and an MBA from the Massachusetts Institute of Technology. She is a registered engineer and member of SPE’s U.S. Engineering Registration Subcommittee.
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