Fred Pheasey, '65 Mechanical, will receive an Alumni Honour Award for innovations in drilling technology and philanthropy.
(Edmonton) When University of Alberta mechanical engineering alumnus Fred Pheasey is presented with an Alumni Honour Award Sept. 24, the only question anyone will ask is, "what took so long?"
In the engineering profession and as an individual working for the betterment of the community, Pheasey certainly set himself apart.
Through ingenuity, personal sacrifice, and an endless supply of energy, Pheasey revolutionized the oil and gas drilling industry. And as a community leader, he played a vital role in helping serve our city's most disadvantaged people.
Pheasey was born and raised on Edmonton's south side. His father owned the Acme Meat Market on Whyte Avenue. After graduating with a mechanical engineering degree, he began working at Barber Machinery. He advanced to the position of assistant to the president, but after the company was sold in 1972, he struck out on his own, co-founding Dreco Energy Services Ltd.
In 1974, Dreco started a downhole tool subsidiary that developed downhole motor products to power a drill bit, primarily used to drill deviated and horizontal well bores that to this day is the choice if the industry worldwide, now under National Oilwell Varco Inc.
"It was innovation after innovation," Pheasey said in a 2015 interview. "We didn't have money to throw around and do a lot of unreimbursed product development work. We'd go to a customer and ask what they wanted to do. We'd come back with designs and show them what they asked for-and we'd often show them an alternative solution that we thought would be an improvement for them and the industry. More often than not, they bought it."
By 1981, Dreco was the world's leading oil derrick manufacturer with $243 million in operating revenues and earnings of $12.4 million.
In 1997, Dreco merged with National Oilwell to become the largest North American manufacturer of equipment used in oil and gas drilling and production, supporting the transformation of resource extraction around the world.
In 2015, Pheasey made a remarkable $5-million gift to support the Faculty of Engineering. In recognition, the focal point of the building's social space was named the Fred Pheasey Engineering Commons. This area is the building's heart and soul where professors, students and staff congregate. In this space, new connections are made and the seeds for innovation are planted. By design, the space ensures a mingling of minds.
Pheasey's philanthropic and social contributions, like his work, also have an enduring impact.
In the community, he has been a passionate supporter the United Way for 30 years. As a member of the leadership committee of the City of Edmonton's Committee to End Homelessness, Pheasey participated in the development of a 10-year plan to help the city's most vulnerable people find safe, affordable housing.
All community members are invited to celebrate Fred Pheasey's accomplishments at the 2018 University of Alberta Alumni Awards:
Date: Monday, September 24, 2018
Location: Northern Alberta Jubilee Auditorium (11455 87 Ave), Edmonton, Alberta
Time: 7 p.m. ceremony with dessert reception to follow
Cost: Free, register for tickets at uab.ca/AW2018
Dress: Business attire