Our Industry is changing quickly. In spite of record production in the US, many companies are struggling and there have been lay-offs in a number of places, both with operators as well as the service industry. Profitability is a very elusive creature as even the best run directional companies are limping along with single digit EBITDA. There is a constant demand for improved performance, but with the current business model, that just crimps the profits that much more. What is the solution?

Our Annual Technical Forum will address these and other issues. The agenda and the steering committees are coming together well. Make sure to mark you calendars for October 21-22 and make plans to attend.

There will be a lot to discuss at the Board of Directors meeting that will be held August 13. Just as the industry is at a cross roads, so is our organization. I see a myriad of opportunities for us in the year ahead. Stay tuned for a report next month.

Please welcome our new BoD Members, Alison Grogan with Drakewell and Bill Murray with Terra Vici. They both have bring new ideas and energy around what they want to see our organization achieve. Mel Lara with Drakewell has also joined the Houston BoD.  

Our first “Profiles in Technology” is set to go out. This brief of new and emerging technologies will become a regular feature of IADD. We will also be adding a “Pushing the Limits” concept that will allow us to highlight those that are really putting it out there; from a technology or application standpoint. Our industry continues to expand our horizons and we want to recognize and document that.

As I mentioned before, we are reviving the Mud Motor Industry Steering Committee (MMISC) under the leadership of Bill Murray. Several have already expressed interest in participating, so I expect to see some news come out soon.

Enjoy the end of the summer and keep an eye on what promises to be a busy fall for our industry. Now go out and drill something!!