Presentation on theme: "Oil Field Theft - Overview. Oil Field Theft ODESSA, Texas (AP) – Ten people have been arrested in the theft of about $2 million worth of oil and gas condensate."— Presentation transcript:
Oil Field Theft - Overview
Oil Field Theft ODESSA, Texas (AP) – Ten people have been arrested in the theft of about $2 million worth of oil and gas condensate from oil companies and producers in three West Texas counties. The arrests yesterday came following a seven-month investigation by the Permian Basin Oilfield Theft Task Force of an oilfield theft ring operating in Midland, Ector and Andrews counties. Six of the suspects were charged with federal wire fraud, mail fraud and conspiracy charges and four were arrested on state money laundering charges. Midland County Sheriff Gary Painter said the suspects stole, in one month, about 8,000 barrels of oil from their companies, the Odessa American reported. Officials said the operation was a partnership between a group of men who sold the stolen oil and gas to buyers who didn’t know of the theft.
Oil Field Theft Taft, Calif. - A Taft woman is facing grand theft and embezzlement charges for the alleged theft of pumping units from Aera Energy LLC. Investigators from the Kern County Sheriff’s Rural Crimes Investigations Unit arrested Susan Marie Rubadeau on Oct. 8. According to a news release, Rubadeau, a manger for SME Corporation, arranged for the pumping units to be removed from Aera property in the area and sold to a third party. Investigators said the scheme was discovered when the pumping units were eventually sold back to Aera. Rubadeau has pleaded not guilty to the charges. She is due back in court on Dec. 14 for a readiness hearing. She is currently free on $20,000 bail.
Oil Field Theft Class A Misdemeanor –$500 or more but less than $1,500 State Jail Felony –$1,500 or more but less than $20,000 Felony of the Third Degree –$20,000 or more but less than $100,000 Felony of the Second Degree –$100,000 or more but less than $200,000 Felony of the First Degree –$200,000 or more.
Oil Field Theft Let's also assume that you are operating on a 5% profit margin, after taxes. If one piece of equipment is stolen and that piece of equipment cost $50,000.00, it will take $1,000, in gross sales to make up the $50, loss.
Oil Field Theft Criminals will steal whatever they can get their hands on - and they can get their hands on a lot of expensive equipment in the oilfield. From $100 tools to $10,000 tongs, it all adds up to a big problem for energy sector organizations. Tip of the iceberg Tip of the iceberg some is not reported More at stake than just money More at stake than just money bonuses, benefits, cutbacks Has to be something they can fence or sell outright Has to be something they can fence or sell outright Accomplished could spread through an entire network
Oil Field Theft Prevent theft Update your security systems to deny entry to unauthorized personnel. Add surveillance cameras and remote monitoring to leverage the effectiveness of your security team. Educate the crew about the scope of the problem and how important simple things like locking a doghouse are. Deterrence Post signs alerting potential criminals that all equipment is marked and traceable. Even if surveillance cameras didn’t prevent a crime, they can provide footage of the crime that helps law enforcement. Place a sticker on all your equipment to let thieves know they’ll have a hard time fencing their ill-gotten goods. GPS Consider investing in GPS sensors for your most valuable equipment.
Oil Field Theft Inventory control Make sure you can quickly identify when equipment is stolen and alert law enforcement in a timely manner Record Serial Numbers Ensure that you have the information you need to help catch the criminals. Report Stolen Items Yesterday Always report stolen items as quickly as possible after the occurrence. Confirm serial numbers before buying equipment. By preventing the sale of stolen equipment you hinder the ability of thieves to profit, and thus reduce the desirability of oilfield equipment.