Stayin’ Alive in the service sector; Startups, innovation, and Ramen noodle budgets keep the doors open. by Paul Wiseman At his previous employer’s office (a multinational oilfield service behemoth) Randy Guice’s desk was near the elevator. From that vantage point he could observe newly laid-off employees being escorted glassy-eyed out the door, clutching […]
Plumbing the Depths
By Paul Wiseman Since the downturn began in earnest in early 2015, it seems service companies have been falling like a long row of dominoes. It seems those with the worst balance sheets began falling right away, with others following helplessly along the way. What characterizes those still standing? For companies like Cudd Energy […]
No Shortage of Work
The well servicing industry gets it going and coming. They’re all the time going out to new wellsites during this drilling boom, and they’re always coming back to their mainstays–the producing wells–to keep the crude flowing. By Hanaba Munn Welch The steadiest, surest income from the exploration for the earth’s riches characteristically comes to companies […]
Well Servicing: A Trade in Transition
It is not surprising that well service companies consider hiring and housing as two of their top issues, as oil prices continue parked at just under $100 per barrel. The words used to relate the topic do open the eyes a bit. “Theft” was how Rich Fontenot described it. Fontenot, senior sales representative for Nabors […]