Most SPE members have benefited from the SPE Foundation without ever realizing it.
Maybe you attended a presentation from a Distinguished Lecturer, met a previous award or scholarship recipient, accessed technical resources through SPE.org, or any of the initiatives that have been supported by the SPE Foundation.
For nearly 50 years, the SPE Foundation helped make those experiences possible. The Foundation worked diligently in the background, investing in people, knowledge, and opportunities that strengthened both the profession and the global SPE community.
Today, as the SPE Foundation transfers its assets to the Society of Petroleum Engineers Inc. (SPEI), it is an appropriate moment to reflect on its remarkable history. The Foundation may be formally dissolving, but the mission it served continues.
Built for a Growing Profession
The SPE Foundation was established in 1977 as the petroleum engineering profession grew. At the time, the petroleum engineering community that we’ve grown to know originally operated within the American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME). The Foundation was created to provide dedicated stewardship of charitable funds intended to benefit that network. It ensured that charitable resources remained focused on advancing education, professional development, scholarships, and initiatives that served SPE members around the world.
When SPEI was incorporated as a separate 501(c)(3) organization in 1985, the Foundation's role remained essential. For decades, the Foundation and SPEI worked together with a shared purpose: investing in the people and programs shaping the future of the profession.
Opportunities Created, Careers Shaped
The Foundation's story is best told by those it served.
Its support helped bring world-class expertise directly to SPE sections around the world through the Distinguished Lecturer Program. As technology evolved, that commitment expanded through SPE web events and online learning opportunities, making technical knowledge more accessible than ever before. And it supported awards, public energy education initiatives, and helped communities better understand the science, technology, and importance of energy.
In the early 1980s, the Foundation helped raise the funds necessary to build SPE's headquarters in Richardson, Texas, and owned the building until 2010. Nearly 85% of the lease revenue was given back to SPEI for program support during that time.
The Foundation helped finance a Society initiative to transfer all SPE technical papers to CD-ROMs in the 1990s.
In the early 2000s, Foundation leaders helped raise more than USD 6.5 million from volunteers, members, and industry partners through Tomorrow’s SPE: Investing in SPE.org campaign to upgrade SPE.org and make SPE’s products and services more accessible worldwide.
These accomplishments were made possible through the many gifts, countless hours of volunteer service, and a shared purpose that investing in future generations would strengthen the profession for decades to come.
Participants mark the groundbreaking of SPE's headquarters in Richardson, Texas, a project made possible through fundraising efforts led by the SPE Foundation.
Leadership Beyond Office
The Foundation enabled trustees, primarily past SPE presidents, to extend their service to the profession beyond their elected terms. It became a steward of resources that included insight, experience, and continuity for the Society.
Foundation leaders led by example. Trustees frequently made personal commitments before asking others to contribute during major fundraising campaigns. Their actions reflected a culture of stewardship that has long distinguished the SPE community.
A Deliberate and Thoughtful Process
The recommendations to transfer the Foundation’s assets and dissolve the organization were not made lightly.
In recent years, the SPE Foundation Executive Committee carefully evaluated the Foundation's structure, responsibilities, and long-term role alongside SPE. The committee concluded, after extensive review, that integrating the Foundation’s assets into SPEI would allow its charitable mission to continue while dissolving would reduce duplicative administrative requirements, all while maintaining the purpose that guided the Foundation.
Message From the SPE Foundation President, Darcy Spady (2018 SPE President)
It has been an honor to be on the SPE Foundation Executive Committee for the past 4 years, and the Foundation mandate has always been to assist SPE, as noted above. Several significant scholarships were added in the past decade, and this has been satisfying to see increased participation with such legacy gifts. As SPE examined its fiscal situation since 2022, the Foundation Trustees were there to assist as we could. It was noted that since the SPE is a 501(c)3, there was an overlap in administration cost and functions of SPEI and the Foundation. We felt that our goals of serving SPE and its programs, including the Distinguished Lecturer Program, scholarships, and sponsoring unique needs, could be achieved more efficiently as a combined entity. The named scholarships will retain their identities, and the use of Foundation funds will still have independent oversight but will be part of SPEI.
The decision to change the structure was not taken lightly. There was a lot of correspondence and discussion among Trustees. I was pleasantly surprised that the majority of us were on the same page. I need to give a special shout out to two of my colleagues who got the ball rolling ahead of me; Janeen Judah (2017 President) and Olivier Houzé (2025 President), were visionary and invaluable in the process.
I am honored to have spearheaded this process of making SPE more efficient and continuing to direct funds and scholarships to those who utilize it most: the SPE membership. I’ll be at the ATCE events this year, so I would love to hear your thoughts and share a coffee!
Stewardship for the Future
The transfer of Foundation assets to SPEI reflects the community’s continued evolution rather than a change in mission.
A majority quorum approved the recommendations to transfer the assets and dissolve the Foundation, an action that reflects both respect for the Foundation's history and a commitment to ensuring its impact continues.
The Trustee’s vote concluded in September 2026.
Looking Ahead
The success of the SPE Foundation cannot be measured solely by dollars raised, buildings constructed, or programs supported.
Its true legacy lives in the people it helped. It continues with the next student awarded a scholarship, member who attends a Distinguished Lecturer presentation, engineer who finds an answer through SPE's resources, and volunteer who chooses to give back.
They are all part of the legacy the SPE Foundation helped create.
Moving Forward, Giving Back
Existing donor recognition levels, giving societies, and donor opportunities will remain in place and available through the Moving Forward, Giving Back program. This ensures members and supporters can continue to invest in the future of the profession.
Those interested in learning more about charitable giving opportunities or the ATCE recognition events are encouraged to contact Shannon Reed, Director, Member Programs and Experience at sreed@spe.org.
ATCE 2026: Celebrating the SPE Foundation Legacy ATCE 2026 will provide an opportunity to celebrate nearly 5 decades of the SPE Foundation’s impact. Members are invited to attend:
SPE Foundation Trustees are also invited to attend the ATCE President's Luncheon as guests on Friday, 23 October. |
Sources and Historical References
A Foundation for Our Success by W.M. Cobb, 2008 SPE President, JPT (2008).
SPE Foundation Funds Significant Initiatives by D. Craig, 1998 SPE President, JPT (2015).
SPE Foundation Supports, Augments Society Programs by J. Parshall, JPT (2007).
Tomorrow's SPE: Investing in SPE.org. by T.D. Stacy and D.E. Gregg, JPT (2003).