We’ve all heard the definition of insanity. We are also all guilty of it. But what do we actually do about it? When does the mind shift into drive and actually kick in changes that we have been treading along making for years? Like that budget situation, the industry’s current position, and what about tomorrow? Will oil and gas come back? Of course. Why? History.
I read an article called “The seven ages of oil: Boom and bust, war and peace, growth and decline,” by Aiman El-Ramly, ZE Datawatch. This article introduced the reader to the “Seven Ages of Oil.” (You can check it out here http://www.pennenergy.com/articles/pennenergy/2015/02/the-seven-ages-of-oil-boom-and-bust-war-and-peace-growth-and-decline.html) The “Seven Ages of Oil” are as follows:
– 1859-1870: Illumination Births an Industry
– 1870-1911: Rockefeller Creates the Multinational Oil Standard
– 1911-1921: A Pax on Arabia
– 1921-1973: Texas Oil Boom in the Gusher Age
– 1973-1994: The Middle East Shrugs its Shackles
– 1994 -2008: Deregulation, Speculation, Manipulation, and Detonation
– 2008-2015: All Fracked Up
If you aren’t familiar with this industry’s history, check it out. Don’t worry, I am not going to post a long post detailing it. I am by no means an expert, but I am a big fan! The easiest way to predict the future is to know the past. So what’s the point of this post?
The industry will recover. Wells will be drilled. Checks will be mailed. Are you ready? Is your business ready? Are you ready to kick it in high gear and have all of your costs streamlined to the point that you will now either drill or help a company drill the most economical well, ever? Wait, what? We all know this downtime is its own special recovery from the times when you couldn’t barely remember if you’d had lunch that day. Remember those days? Well files tossed with care and papers that need to be scanned for a day like…well, today.
Loyal Land and Legal, LLC can help by offering top of the line land tech administrative services that can get your office together and lease processing department singing your praises with the accountants providing backup dancing. We offer multiple rate systems, including day rates to allow exploration and production companies to bill us as a vendor, and especially to land brokerage companies or small oil and gas companies that need someone to get their contracts out, people paid, and clients happy with progress they can compare to their checkbook. We streamline processes and have our own software systems to help you in any situation, whether you are trying to get leases out to people (we can work with your field lease buyers and prospect managers); sending out division orders and obtaining curative for royalty owners so all you have to do is write the checks; or have a near zero return rate from any Oklahoma Corporation Commission hearing (including those hard to find heirs from title that hasn’t been updated since 1923!).
We can help you. And to not be insane, we have to do something different, right? Here’s to not being insane by spending company dollars when you don’t have to. Because that makes any manager smile in any industry condition.
Nicky J. Howell 