IADD Staying Ahead of the Curve - August Newsletter
Published: Mon, 08/09/21
LETTER FROM THE EXECUTIVE DIRECTOR
This year has just flown by. It is hard to believe that we are in August. In many places that means that summer is starting to wind down. In Texas, we’re just getting started!
As I reflect back on the beginning of the year, we have actually come a long way. Rig count is up and there is guarded optimism in the oil patch. There are even some employment opportunities that are popping up. Operators are maintaining a strict discipline on investment and are returning to profitability and paying dividends. We may not be out of the woods, but the trees are
thinning. So, what have learned in the last year?
The oil-patch is still resilient; yes, there are casualties, and the “Big Crew Change” is over, but the younger generation has a different technical acumen and outlook.
Automation and enhance computing have gained a foothold. This reminds me of the US automobile industries in the ‘70’s and ‘80’s. It was a rough time, but the changes that were forced on the industry actually saved it in the long run.
Technology is evolving at an accelerated pace and in many cases is becoming more affordable. Advances in electronics, materials and manufacturing processes are bringing many innovations into the affordable realm.
The shift to “green” energy resources is pronounced, but it does not mean the end to hydrocarbon usage. There will be an effect on the Energy Industry, but these types of things create opportunities as well.
Have we learned our lessons? Only time will tell. In the meantime, let’s continue to strive for improvement and keep on drilling; that’s what we do!
UPCOMING EVENTS
IADD Monthly Luncheon Series
Drilling Towards Production - Sweet Spots in the Reservoir
Thursday, August 26, 2021
IADD will host a luncheon at Landry's Seafood Restraunt in The Woodlands, TX. Join us in-person or online!
Currently we are facing major challenges, not just in the oil and gas industry, but in the world. It is IADD’s vision to be the leading catalyst for change by offering a platform for companies and individuals to continue to expand their knowledge and network even through these difficult times. Our Mud Motor Course Live Webinar will be led by Dr. Robello Samuel, Chief Technical Advisor for Halliburton and Drilling
Engineering Adjunct Professor at the University of Houston. All participants in the domestic United States will receive a mailed copy of the Positive Displacement Motors color textbook authored by Dr. Samuel. Space is limited so sign up today!
