For those of you afraid to acknowledge it, be it out of fear or superstition, we’re definitely in the early stages of a boom. Tens of billions of investment dollars are being plowed into oilfields here at home, and around the world. US production is the highest it’s been since the seventies, and major milestones are being announced at record pace. The US exporting into the Middle East, India investing into the UAE, the largest oil reserves in the World, are now believed to be in the Permian Basin. Goldman Sachs calling for $80 oil; and some think $100 by end of year. How about $150?
What does it all mean? It means more jobs, a climbing global economy, and most importantly, it continues to demonstrate the cyclicality of the O&G space, and our need for low cost energy. To us at HENDERSON, it means we keep doing what we’ve done for decades…serve customers, our people, industry, and communities. Learn more.
Recently, we had the privilege to spend some time on the road with our team to get in front of our customers, and better understand how they are approaching the market, and the challenges that are consistent with coming out of a downturn. When asked what is their most difficult challenge going forward, the answer was the same across the board….people.
Our industry is evolving quickly, and the answer to the great crew change challenge is in the action. The action of pairing industry vets with young bright minds, the action of training, and the action of working together to build repositories of knowledge that can be shared to accelerate the learning curve. Equal opportunity regardless of race, gender, sexual orientation, etc., comes to mind too. Yes I did. You can call discuss; we answer the phone 24/7. We need to look outside the industry as well to bring in the best inventors, developers, manufacturing minds, and millennials. Every generation thinks the one behind them isn’t going to make it, but that’s one of the beautiful things about humans…adaptability.
Exciting times ahead of us, and I’m looking forward to the next thirty years. We may find oil on mars by then, but it won’t be as a result of running out hear on earth. – dlh