Four Ways Management Consultants Can Help Oil and Gas Companies Look to the Future

In today’s “lower for longer” commodity pricing environment, even the best positioned oil and gas companies are experiencing market challenges. Despite these challenges, executives should not lose sight of opportunities to make transformative changes that can help them derive greater value from their businesses. To emerge from this prolonged scenario stronger than before, executives should look at fortifying areas of their businesses through sustainable cost reduction strategies as well as capital and workforce management. Lower energy prices may leave some of the heavily indebted producers vulnerable as interest payments swallow up cash. Some of those organizations may have little choice but to sell, find partners, or recapitalize themselves, creating a need for advisors to guide them through this. By taking a closer look at the following four areas with the help of management consulting expertise, companies can begin to see value, savings and greater efficiency in their operations, thus allowing them to focus on thriving.
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In The Headlines

From Assessment to Action: Extending the Role of Management Consultants in Oil & Gas

Whether it’s the need for manpower, cost savings, or an outside perspective, the impetus behind companies bringing in consultants is obvious – they’re looking for that competitive edge. One way to do that is to gain insight from the oil and gas industry’s heavy hitters. These experts are valuable because they bring a fresh pair of eyes to each environment. Often, they also offer a more holistic viewpoint of the industry, having likely worked across numerous companies and in varying capacities. This broad, outsider opinion helps consultants recognize ailing processes and recommend paths that allow companies to improve them. Something puzzling, however, is that a consultant’s job typically ends once the strategy is established or the assessment stage is complete.  How much more value could be realized if consultants saw their plans come to fruition.
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Topic of Discussion

Ending Our Oil Addiction is Crucial to Stopping Future Terror Attacks

Our dependence on oil has a sinister side that we tend to lose sight of: Some of that oil we consume — 18 million barrels a day in the United States alone — provides a revenue source for extremist groups to carry out deadly terrorist attacks.
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Most Recent Discussions

Thriving and Surviving in Oil & Gas

Dan Turner | Kepware Technologies It’s been happening all our lives. Oil & Gas prices fluctuate, and with the ups and downs, the industry adapts and looks to thrive—and more recently, to survive. In 2015, when oil fell to its lowest price in seven years, more than 100,000 jobs were shed and organizations looked to […]

Oil & Gas Industry’s Most Wanted

Matthew Johnson | Addison Group The in-demand skills and jobs during this turbulent time in the market   The past year has brought significant turbulence to the oil and gas industry in major U.S. markets and throughout the world. Subsequently, the hiring landscape has shifted as certain projects have been postponed or abandoned to offset […]

Leveraging Supply Chain Design to Thrive Despite Dip in Fuel Prices

Oscar Torres | Llamasoft Fuel prices have faced significant pressures in recent months. This dip in cost is good for the American consumer, but lower prices can have negative ripple effects on the economy at large. There are the direct effects such as lost jobs for thousands of Americans employed by the oil industry.  There […]

Sensor Sensibility: Choosing the Correct Sensor for the Job

Larry Medina | Draeger Safety, Inc. In many scenarios, 15 seconds is not a significant amount of time; however, in the oil and gas industry, this small interval can mean the difference between life, health hazards and even death for onsite workers. In such events, having equipment that’s reliable and designed to quickly alert workers […]

Oil and Gas Cost Savings: Time is the Most Valuable Commodity

Michael G. DeCata | Lawson Products Focus on what you can control.   The historic decline in the price of oil, which has dropped 70 percent since the summer of 2014, brought with it operational challenges for oil and gas enterprises, including unprecedented headcount and CAPEX reductions. New performance strategies ensuring production uptime, particularly in […]