Retired CEO guided the evolution of Ryder Scott

   Newly retired CEO Ray Cruce guided the evolution of Ryder Scott beginning in the late 1960s as it intensified its business focus on independent petroleum reserves estimations. Before that, Ryder Scott was known for designing waterflood and secondary-recovery projects starting in the late 1930s in Pennsylvania.
   By 1946, the 60-employee firm had clients in the United States and in several countries outside North America and its business designing secondary-recovery projects flourished. But a change was in the making beginning in 1967, when Ryder Scott moved from Wichita Falls, TX, to Houston, acquired Robert W. Harrison & Co. and hired Cruce, who had been a partner there for 11 years.      

   The "marriage" of Ryder Scott and Harrison, a consulting company known for advanced skills in reservoir evaluation, provided the right balance of skills. The newer, larger firm was able to offer a full range of services-from classical reservoir engineering to full field-development studies.
   After the incorporation of Ryder Scott in 1967, Cruce became a senior vice president and director. By 1970, Ryder Scott had engineered about 700 waterfloods for almost 300 operators. However, Cruce's background was primarily in reserves estimations. He sensed greater opportunities for that type of work, so he began contacting financial institutions after he became chairman of the board and president in 1972.
   New York investment bankers and other commercial lenders, keen on reducing the risks associated with reserves-based lending, listened to Cruce, whose personality and credibility helped open doors. The bankers were convinced that third-party certification of reserves was the best method of establishing a reasonable value for petroleum properties used as collateral.
   "I assured the lenders that Ryder Scott was a company of integrity and honesty and was well qualified to perform those studies," Cruce said.
   Reservoir evaluations became the mainstay of the firm as bankers recommended to their clients that they obtain reports from reputable evaluation firms as prerequisites for loan considerations. Ryder Scott's name became a standard on most bankers' lists of qualified evaluators.
   Cruce's official resume reads that as the CEO, he "supervised all activities of the company." Cruce did everything from meeting with oil company chief executives to compiling revenue figures on a monthly basis.
   Up until his retirement, Cruce made detailed presentations to the Ryder Scott board of directors and planning committee members as he reeled off facts and figures on accounting, budgeting, office expansions, work loads, purchasing and virtually every facet of company operations.
   An industry veteran of 54 years, Cruce began his career as a petroleum engineer and geologist with Gulf Oil Corp. in 1946. Ryder Scott employees and clients will miss Cruce but wish him the very best in his retirement. Congratulatory cards and letters should be sent to Mr. Ray Cruce, c/o Ryder Scott Co., attn: Sandy Wilder, 1100 Louisiana, Suite 3800, Houston, TX 77002-5218.