Communication is important in informing those who are interested in the industry, but lack the in-depth understanding. Mr. Langley has spoken frequently to large and small groups on topics of current interest. Examples include the following.
CRUDE OIL ROYALTIES AND UNACCOUNTED FOR RISKS – GAS DAILY – 1998: A presentation of the nuances of price determination for crude oil in the US, including the well understood impact of quality and location, and the less well understood costs of price risk, arbitrage of differing terms, and the effect of lot size.
HOW ENRON CAME TO BE – HOUSTON BAR ASSOCIATION – 2002: A perspective on the seduction of trading profits in a traditional operating company, and how the use of newly available personal computers accelerated the growth of trading as a business line, well in advance of the management controls necessary for its monitoring.
SARBANES OXLEY AND THE IMPACT ON ENGINEERING PROCESSES – SPEE – 2004: A background on SOX, its impact on financial statements, and penalties for non-compliance, and how the need for adequate controls around purely financial processes also impacts engineering calculations and estimates of proven reserves.
OIL AND GAS FUNDAMENTALS AND MARKET DYNAMICS – 2005: A training program conducted for PTT Thai Oil, Bangkok, for accounting, finance and treasury staff and management. Presented as part of a company-wide risk assessment analysis.
REGULATORY ENVIRONMENT AND SARBANES OXLEY – AGENCIA NACIONAL DE HIDROCARBUROS – 2005: A discussion of the parallels between a properly constructed regulatory environment and the enhanced control environment required under the US Sarbanes Oxley regulations.
OIL SHALE TO SEC QUALIFIED RESERVES – SPEE 2009: A discussion on the chemical changes necessary to transform shale oil into synthetic crude oil. The 2008 revised SEC definitions for reportable reserves allow inclusion of “coal and oil shale that is intended to be converted into oil and gas as oil and gas reserves.”
SYMPOSIUM INSTRUCTOR – University of Texas at Dallas – 1994 – 2012: Mr. Langley taught the refinery operations, economics and risk management session of the annual UT Dallas “Advanced International Oil and Gas Accounting and Finance Program”, offered to mid-level international oil and gas executives. He developed the refining section while at Coopers & Lybrand, and continued to provide his services to the University.
WORKSHOP INSTRUCTOR – US EPA, et. al. – 2016: Mr. Langley created and taught a workshop on the economic and accounting issues critical to small refiners. His experiences in the industry brought a combination of engineering, accounting, capital investment and business necessities for refiners, allowing regulators and interested parties to better understand this segment of the industry.