SPWLA Foundation was formed in 1985 as The Society of Professional Well Log Analysts Educational Fund for the exclusive purpose of issuing scholarships and grants for the study at schools, universities, and colleges engaged in the teaching and study of the science of formation evaluation. The Foundation was later renamed The Society of Petrophysicists and Well Log Analysts Foundation to address the increasing role that rock and fluid analysis plays in the science of formation evaluation. The Foundation was set up as a 501(c) (3) organization and is funded by the SPWLA, companies and individuals to support the overall purposes of the SPWLA [Please see Article IV for more details]. All contributions to the Foundation are fully tax-deductible according to the United States Internal Revenue Service.
PURPOSE AND OBJECTIVES
The purpose of the SPWLA Foundation is twofold. First, the Foundation establishes and maintains the financial endowments of the Society and awards scholarships and grants from those endowments for related study at universities and other educational institutions. Second, the Foundation maintains the SPWLA Fund and disburses monies from that fund at the request of the SPWLA Board to support technical programs.
The Foundation is governed by a Board of Directors consisting of five members selected from SPWLA Past Presidents, other SPWLA members who have demonstrated a commitment to the benefit of SPWLA by serving on the SPWLA Board of Directors, or the recipients of either the Distinguished Service Award or the Medal of Honor for Career Service Award from the Society. Board members serve a term of five years in such a way that each year one of the directors is replaced by a new member.
There are two standing committees of the Foundation: a Scholarship and Grant Committee and a SPWLA Support Committee.
The Scholarship and Grant Committee is responsible for recommending candidates for scholarships and grants. This committee consists of representatives from the SPWLA Board appointed by the President of the Society, four other members appointed by the President of the Foundation, and a chairman appointed by the SPWLA Board. The number and amount of such awards are determined by the Foundation's Board of Directors.
The SPWLA Support Committee reviews requests from the Society for funds in support of specific projects and assures that such funds are available without jeopardizing the integrity of the corporation's endowments.
HOW FUNDS ARE USED
The Foundation has endowments for both scholarships and grants that come from SPWLA, local SPWLA chapters, industry and private contributors. Scholarships are funded only from earnings on the endowments. Current SPWLA Foundation assets are just over one million dollars. Foundation expenses historically are less than 0.2% of assets.
Income from this endowment is used for scholarships covering costs of tuition, books, and fees. There are the following scholarship classes:
Memorial and Industry scholarships funds:
The Vicki King Memorial Scholarship
BP Petrophysics Scholarship Fund
Robert Truman/Baker Hughes.
Scholarship awards have been presented to Junior, and higher, undergraduate students, and to graduate students who have demonstrated outstanding achievements and plan to pursue a career in the science of formation evaluation.
The magnitude and number of scholarships and grants are decided by the Board of the Foundation. Typically, the scholarship awards of $1000 and up in increments of $500 are usually offered. Grants are offered in similar amounts but may be adjusted to cover all or part of the estimated research project budget.
Some of these scholarship funds have additional restrictions on recipients. Those funds and their restrictions are:
The Abu Dhabi Chapter Scholarship:
The preferred candidate must be studying a discipline that furthers the understanding of carbonate petrophysics.
The Denver Well Logging Society Scholarship:
The preferred candidate should be attending a Rocky Mountain College in North Dakota, South Dakota, Colorado, Wyoming, Utah, Idaho, Montana, New Mexico, Arizona, or Nevada, be pursuing a degree in a field related to upstream oilfield well log interpretation (i.e. Petrophysics, Geomechanics, Geochemistry, Geophysics, Petroleum, or Geology ), and be a Graduate Student.
The Paris (SAID) Chapter Scholarship:
The preferred candidate should be either a French citizen studying in the United States or an American citizen studying in France or a student of European, African, or South American origin. The recepiant must provide a complete report of the studies or research to the Paris chapter when completed and that report will be open to the public in the Paris Chapter files.
The San Joaquin Chapter Scholarship:
The preferred candidate should be either a student studying the physical sciences enrolled at a California university or a California resident studying the physical sciences at any North American university.
SPWLA ENDOWMENT - Income from the SPWLA Endowment is used in support of the Society's scientific, charitable and educational programs, or may be added to funds available for scholarships and grants.
GRANTS FUND - Contributions designated as grants are distributed annually to scholarship recipients or faculty to support formation evaluation projects.
SPWLA FUND - Moneys designated for the SPWLA Fund may be disbursed at the request of the SPWLA Board to support technical programs. Income generated by this Fund not needed for such programs may be added to funds available for scholarships and grants.
SOURCES OF FUNDS
SPWLA BOARD - The SPWLA Board is committed to and has been a major source of support for the Foundation.
SPWLA MEMBERSHIP - Voluntary support by the membership has provided substantial contributions to the Foundation
SPWLA CHAPTERS - Several chapters have established scholarship funds, many using funds generated by hosting SPWLA Symposia.
INDUSTRY - Corporations utilizing formation evaluation are supporting these skills with contributions to the foundation.
HOW TO CONTRIBUTE
Please click here to contribute online
Please send your contribution to:
8866 Gulf Freeway, Suite 320