Being the President pf the Chevron Energy Technology Company is no easy task, but Paul Siegle loves the challenge. He took a job as a petroleum geologist with Texaco after graduating in 1980. Texaco was later acquired by Chevron and Siegle worked his way up from petroleum geologist to his current role, moving all over the U.S. and world in the process, including five stints in Houston.
The son of a Lutheran preacher who grew up in a small town in North Dakota, Siegle never imagined he would be in the field of oil and energy. A geology professor he had his freshmen year of college sparked his fascination for geology and led him to pursue the field of study. “There is a lot of risk and excitement in the field,” he said.
Heading up Chevron’s strategy involves a long-range outlook and knowledge of an overwhelming amount of variables. The three main components of his job include looking at the financial side of research projects to see what research is actually affecting their bottom line; protecting their intellectual property; and making bets on technology that keep the company profitable in the long-term using the current outlook, or what he describes as “skating to where the puck is.”
Being in the oil business also requires a thick skin and an ability to bounce back from failure. Siegle explained that most of the time in the oil exploration business, you aren’t going to find oil and you are going to spend a lot of money looking for it, but sometimes you find a well that is so big it more than makes up for the time and money spent drilling the ones that came up dry. Siegle was fortunate enough to have been a part of such an occurrence during an assignment in the Gulf region, and said that the string of discoveries was rare and ultimately catapulted his career at Chevron.
It wasn’t just good fortune that led to his climb up the ladder. Siegle shared some words of wisdom with the students on how to be successful. “Do the best you can with the job you are given and the rest will take care of itself,” he said. “Be open to opportunity, and willing to move around if you can. Treat people well. Be accountable for your leadership responsibilities, and work hard.” When asked about his personal leadership style, he said he likes to empower his team, adding that there is a fine line between empowerment and abandonment. “Lead by example and know your team well enough to know if someone needs help.”
Fielding questions from the audience, he addressed ethical issues in the oil business. “We operate at the confidence of the public. We get results the right way. We don’t expect results at any cost.” Siegle said Chevron’s strong ethical standard has been very important to him personally and that he is very proud of the company’s social responsibility program, which invests in the communities where they operate.