CREST Engineering Services, Inc.

     Petroleum Evaluation and Reservoir Engineers






About Us






Contact Us


Rates & Quotes






About Us 

CREST Engineering Services, Inc. was founded in June, 1996 by W. Waterson Calhoun, P.E. to provide quality reservoir engineering services to clients in the oil and gas industry.  Our strength and success is attributable to our ability to understand and recognized the needs of our clients and help them to achieve their goals through practical engineering solutions.

We look forward to working with you on your next project.

W. Waterson Calhoun, P.E.

President, Reservoir Engineer

CREST Engineering Services, Inc.

EDUCATION        University of Texas at Austin,  Austin , Texas

                                B.S. in Petroleum Engineering                                                            1989


Continuing Education

Gas Production Optimization, Oil and Gas Consultants International (OGCI), Dr. H. Dale Beggs

Applied Openhole Log Interpretation, OGCI, Dr. Douglas W. Hilchie

Production Optimization Using NODAL Analysis, OGCI, Dr. H. Dale Beggs


                                Registered Professional Engineer, State of Texas No. 80166

                                Society of Petroleum Engineers

                                Society of Petroleum Evaluation Engineers

EXPERIENCE    CREST Engineering Services, Inc., Tyler , Texas                                            6/2002 - present

                               Consulting Petroleum Engineer

Independent consultant specializing in petroleum reserve evaluation, prospect evaluation, reservoir management and petroleum finance.  CREST also serves as an oil and gas operator in Texas .    

Reserve Evaluation/Finance

       Evaluation of reserves on behalf of multiple clients to secure bank financing and promote sale of oil and gas assets.  Served as liaison between client and lenders on an ongoing basis.

       Evaluation of reserves on behalf of Whitney National Bank to support energy lending. 

Acquisition/Prospect Evaluations  

    Manage an evaluation process reviewing prospects on behalf of investors.  Program places approximately $10MM per year in 15 to 20 projects with various operators.    

       Lead data room engineer reviewing possible acquisitions on behalf of investor clients.


       Interim contract operation of assets on behalf of investors and lending institutions.  


CREST Engineering Services, Inc / Pollard, Gore and Harrison            9/1998 6/2002

Consulting Petroleum Engineer

Serve as the in-house engineer for Wells Fargo Bank, Houston, through an association with Pollard, Gore and Harrison , an Austin based petroleum consulting firm.  During my service, Wells Fargo grew to be the fourth largest energy bank.

Reserve Evaluation / Banking

       Served as the in-house engineer in the Houston office responsible for reviewing reserves and determining collateral value supporting approximately half of the reserve based loan portfolio.

       Worked with bank management to establish lending guidelines and criteria.

       Responsible for maintaining relationships with multiple banking clients and monitoring field / drilling activities.

Consulting Services  / Acquisitions  

       Provided due diligence evaluation and was instrumental in securing $100MM in financing in the acquisition of a Dallas based oil company.

       Evaluated prospects and acquisition opportunities on behalf of several investor clients.


CREST Engineering Services, Inc.  Austin , Texas                                    6/1996 9/1998

 Consulting Petroleum Engineer

Consulting engineer providing petroleum evaluation services and environmental audits.  

 Environmental Project Management

       Preformed environmental due diligence as part of the acquisition of Franklin Federal Bancorp by Norwest in 1996.  Responsible for environmental audits on all of the banking locations, as well as identifying significant environmental liabilities on major assets in the FFB portfolio.

       Established relationships with several Austin and San Antonio banks to provide environmental services.

Petroleum Engineering Services

       Provided reserve evaluations on several estates and royalty portfolios.


 Terra Dynamics, Inc.  Austin , Texas                                                         9/1993 6/1996

 Consulting Petroleum Engineer

Consulting petroleum engineer with an environmental consulting company that supports Class I industrial waste disposal wells located in industrial settings.  The firm also provided general environmental services such as groundwater testing and audits.    

 Petroleum Engineering / Class I wells

       Developed reservoir models in the Texas Gulf Coast and Panhandle which supported Class I well permit applications to both the Texas Natural Resources Conservation Commission and the US Environmental Protection Agency.

       Responsible for coordinating, contracting and supervising annual mechanical integrity test and reporting results to the appropriate agencies.

       Design and supervision of clean outs, stimulations and workovers of Class I wells. 

Reservoir / Groundwater Modeling

       Modeled shallow reservoirs for the design of groundwater remediation projects.

       Modeled a 3500 acre Uranium leachate mining operation in South Texas to support a mining application.

Environmental Services

       Conducted Phase I audits on behalf of real estate investors and lending institutions.  


Tenneco Gas Pipeline   Houston , Texas                                                                        12/1989 9/1993

Petroleum Engineer

Supported Tenneco Gas Pipeline in managing the supply and facilities associated with the natural gas pipeline following the sale of Tenneco Oil Company.

Reservoir Engineering

       Worked with individual operators in the Gulf Coast region to monitor the deliverability of their fields connected to the pipeline.  Scheduled regular production test to manage take or pay levels.

       Evaluated major fields subject to take or pay liabilities to support contract negotiations and made recommendations regarding buying down those contracts.

       Preformed basin and field studies to support strategic planning and design of pipeline facilities.


       One of two engineers responsible for the operations of Bastian Bay Field in Vermilion Parish, Louisiana .