Eric Boquist | Travelers Oil & Gas
Oil and gas executives are grappling with the most challenging business environment in recent memory. With the plunge in oil prices and diminished cash flows, some exploration and production companies are limiting capital expenditures and reducing payroll, as they prepare for what could be a sustained downturn. While such course corrections are necessary to protect the bottom line, reducing a company’s commitment to safety and the well-being of its workforce should not become an unintended consequence. Prudent safety practices and talent retention efforts can go a long way toward easing the blow of challenging conditions.