 |

Where Did All the Oil Drilling Equipment and Well Service Equipment Go? |
|
|
Submitted by Janeane Carnagie
| RSS Feed
| Add Comment
| Bookmark Me!
The well drilling and servicing businesses have been very prosperous the last few years. The industry, although, has been marked by an extreme cyclical past that discouraged capital investment. It doesn't feel too good to have a multi-million dollar piece of equipment collecting weeds somewhere in a field. When oil began to rise a few years ago, demand for drilling came back and rotary giants came back. The interesting thing is that although equipment can come and go, what about people?
Many people who in the late 70's or early 80's had done well in the oil business saw there returns diminish over the next two decades. Talented people tend to be able to switch gears, therefore, many of them moved on to more profitable endeavors. The average family oil business struggled for many years as oil prices languished. Funny, I don't recall hearing such outrage from politicians as has been witnessed lately. For the people that stuck it out and invested when times were bad, they are now reaping the benefits of the flip side...... to punish them for risk taking is un-american.
Now that times are booming, it is not necesarily the equipment that is missing, but the human capital. People make things happen. I am sure many of them did not want to get back into oil just to see it languish again, so they waited it out. This has led to a lack of skilled labor in oilfields all over America. Human capital will always be more important than any piece of new equipment in the oilfield.
|
|
 |

|
LinkedIn Recommendation:
Kay Nikookary - Marketing and Brand Specialist - Information Architect! What a perfect title for the man that knows so much about technology, execution, business strategy and how to put it all together to make huge strides for your organization. I have seen Teo at work and would recommend him to anyone seeking a dynamic speaker on the diverse and complex topic of technology, I would recommend Teo to anyone starting or restructuring their company to take advantage of technology and tap into the global marketplace. He is the ideal consultant, speaker, project leader! Teo is one of those rare gems that knows IT and can truly be the architect of your system; and yet explain it you, and others like me, that don't always understand or want to know the technology side of the picture. He is a very personable gentleman who knows his stuff and if you are considering a technology question, then you need to at least have a conversation with him - because he WILL add value for you! - August 17, 2008, Kay was Teo's client |
|
Featured [Investing] Articles:
|
 |