Industry’s Future Lies in the Well-Rested Worker


As future success in the oil and gas industry hinges on increasing efficiencies, companies will invest in the production capabilities of both emerging technologies and highly-skilled workers. One of the two can work non-stop day and night while maintaining precision and accuracy. The other has unique skills that cannot be replicated by a machine, but, without adequate rest, functions at ineffective or counter-effective levels. Whether fatigue is the result of long shifts requiring high vigilance or an undiagnosed sleep disorder, oil and gas workers are prone to fatigue as a result of poor sleep quality, quantity and timing.
[Read more…]

Cheap Energy – Good for the Consumer, Bad for the Industry


Although consumers might be gung-ho to pay cheaper prices at the gas pump, the plunge in oil prices for oil and gas companies is far from exciting. With prices down by 50% from their height in 2014, these fluctuating oil prices will cause major shifts in mergers and acquisitions, as well as push oil companies to embrace innovations. More specifically, companies are going to look towards the real-time data collected from Internet of Things (IoT) to optimize processes and create efficiencies.
 
So, How Did We Get Here?
By the law of supply and demand, it was inevitable that oil and gas prices would drop. With Saudi Arabia as a driving force within OPEC, their push to continue oil production despite the falling prices led to a continuing oversupply of oil. As the Saudis strived to maintain their market share, they signaled they had no intent to cut back on oil production, even though the decreased supply would raise the prices. They feared that had they done so, they would lose market share to other oil producers, depreciating the Saudi influence within the market.
[Read more…]

How Technology Can Save the Day for E&P Companies


The Current State of Industry Debt
 
During the decade-long energy boom, U.S. E&P companies worked hard to boost their output substantially which in turn, also increased their debt loads. As the price of oil falls, many E&P companies are finding it difficult to profit on lesser performing wells and maintain their debt obligations. This has left most E&P companies attempting to line up billions of dollars in emergency financing ahead of potential rounds of cuts to their revolving loans.
[Read more…]

New Laws, Technologies Lead to Continuing Increase in Oil and Gas Litigation


The past few years have seen a dramatic increase in the number of unconventional oil and gas-related lawsuits, with Texas seeing the most activity, followed by Oklahoma, Pennsylvania, Ohio and Louisiana. New trends and areas of litigation have also emerged over the past few years, and industry participants will continue to confront the challenge of adapting to emerging and often differing state laws, as well as a continually evolving legal landscape as landmark cases are decided by the courts.
[Read more…]