Katy Canan was seven years old when she climbed up on her first oil rig. Her father brought her out to a job site for the afternoon and she remembers the well equipment looming above her. The rig’s superintendent was a big guy named Cotton. His safety briefing before allowing her on the rig had consisted of a simple warning: If something goes wrong, run in the opposite direction the wind is blowing.
Canan grew up in Wichita Falls, Tex., which has been producing oil since 1911, but her family has been in the industry even longer than that. Both her parents were petroleum engineers, as was her grandfather, great-grandfather and many before him. According to family lore, Katy is the sixth generation working in the energy industry—first in Pennsylvania in the 1800s, and then eventually in Texas starting in the 1950s.
“It’s in our pipeline,” she said.
Meet the ‘Canan Clan’
Commitment to her family, as well as to her work, are principles passed down from her father. Growing up in a large family fundamentally shaped Canan. As the second of six children, Canan has fond memories of toting around her younger brothers in baby slings and being their “second mom.”
“We were called the Canan Clan, instead of the Brady Bunch,” recalls Canan. “Being one of six, you learn to listen more, take care of each other, be responsible—and how to deal with a lot of different personalities. You also learn to be stubborn when you really want something.”
And what Canan really wanted was to be a petroleum engineer like her parents. Canan’s father Pat says engineering came naturally to his daughter. In high school, she was chosen for an internship at NASA.
“As a kid, she played sports but was not super talented at them,” admitted Pat. “She wasn’t coordinated at all! I remember she took a dance class, and she danced like me… no rhythm! She was much better at piecing things together like puzzles and Legos.”
Katy herself recalled taking apart VCRs and putting them back together as a kid, adding that she was “that super cool kid who went to engineering camp.”
Undeterred by uncertainty
Katy’s father was worried about her career choice at first. He cautioned her that the oil industry is cyclical, and so there would be good times and bad times. Indeed, she remembers the lean times when oil prices were low and the family had Christmas presents from the thrift store, followed by boom years, which meant the family could eat out (and order soda!).
None of it deterred her. In college, she wore her mom’s old steel-toe boots and grandpa’s hard hat on field visits. In 2006, she graduated from the University of Texas at Austin with a petroleum engineering degree and went to work for oil operators in California, Colorado and Texas. Unsurprisingly, she excelled and was recognized with the Orange County Young Engineer Award in 2011.
“She’s not afraid to take on challenges,” said Pat. “She has a lot of resolve and when presented with something difficult, she will prove she can do it.”
A new chapter
In 2021, Canan, her husband and their three children moved to Houston for her to join BOK Financial® as a petroleum engineer for the Energy Financial Services Group. She works with a team of nine engineers who evaluate the oil and gas resources of companies that want to work with BOK Financial to fund future energy developments.
“Reserve-based lending is fascinating because you get to see into the inner workings of companies and evaluate what they are doing well and not so well,” said Canan.
“Katy is a thoughtful and thorough engineer who doesn’t shy away from hard work. She can see the whole picture and think outside of the box,” said Mandi Engebretson, a former coworker and fellow petroleum engineer. “What is unique is her outgoing personality. Engineers get classified as nerdy and quiet. Katy is not that. She is quick to include people and make friends.”
“What is unique is her outgoing personality. Engineers get classified as nerdy and quiet. Katy is not that. She is quick to include people and make friends.”- Mandi Engebretson, a former coworker and friend
One thing that has really stood out to Canan about the industry is the number of advocates she’s encountered in her career. Petroleum engineering remains a male-dominated field. Today, only 12% of petroleum engineers are women. While she admits she has faced some uphill battles, she can see the industry is rapidly changing.
“I was lucky to find great advocates and mentors, both male and female, at every point in my career who were willing to provide advice,” said Canan. “I would like to provide that support for others and be a good role model to my two daughters and son.”
Engebretson said Canan has been teaching those around her throughout her entire career. “At work, she is always willing to help someone hash out a problem or discuss an idea,” said Engebretson. “She is salt of the earth, just like her dad. She is just good people.”
When Canan isn’t breaking engineering stereotypes, she mentors the next generation through her daughter’s Girl Scout troop where she encourages them to master new skills and build community.
Before she had a chance to be a trailblazer for female engineers or inspire young girls as a mentor, she was just a seven-year-old enthralled by the machinery beneath her feet as she stood next to a rig superintendent named Cotton. As a nod to her family history, on her desk is a framed end-of-year report from 1927 that belonged to her great grandfather. The report states three oil wells had been drilled that year.
“It’s a way to remember where I came from and where I’m going,” Canan said.
. © 2024 BOKF, NA.