WorldWide Drilling Resource

Drilling Industry Ups and Downs Part 1 by John Christ J.C.’s Drilling Consultant As mentioned last month, WWDR welcomes John Christ as a contributing writer. The drilling industry has always had its ups and downs. It really doesn’t mat- ter what discipline we are talking about, so let’s start with the oilfield. Are you en- joying the low gas prices right now? Well that comes at a cost. look at stock prices of the oil companies - no money to be made there. It doesn’t matter if you are good at what you do, layoffs have come down the pike. If you work for a service company to the oilfield, things are even worse. Cuts are deeper into management. A few years ago, the oilfield looked at its median age. It was staggeringly high. So they started hiring young men and women straight out of college. They started using customer management tools more. Basically, collecting older talent’s information. Training became mandatory. This brought the old people and the new people together. The older people did most of the training, sharing stories during training and in the evenings when they would be socializing. Then crude prices fell. The more they fell, the more larger companies purchased the smaller competition. They needed a way to pay for those acquisitions. They let the more experienced people go. They shared their contacts and experiences with the younger people, so it helped lower the overall company expenses. They had to survive somehow. The mining industry has always had its ups and downs. The drilling part of mining is to pinpoint just where the ore is. When they are up, it’s a drilling frenzy. At that point they are finding reserves. When it’s down, they are trying to pinpoint the reserves so they don’t waste resources. Again, these industries have always done training and collecting information. In the recent past, it has increased, making the older more experienced people less valuable. Just doesn’t seem to be the loyalty larger companies used to have. More on this topic next month. The statements and comments in this article are based on information and references believed to be true and fac- tual. If you have any questions or com- ments, please forward them to me in care of WWDR . John John Christ may be contacted via e-mail to michele@ worldwidedrillingresource.com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orldWide Drilling Resource ® MARCH 2016 As usual, the ad looks fabulous. Thank you Marcel for making the change. Thanks much, Amanda Northeast Drill Supply