Last week while visiting with my family I had a conversation with my grandpa Charlie about many things. Inevitably, the oil industry came up as the topic of conversation. We talked about everything from drilling technologies like hydraulic fracturing to the future outlook of the oil and gas industry. That’s when he buttoned up our conversation in the most perfect way. Being a farmer, he simply said, “Well, while it’s sunny, we better make hay!”. I couldn’t stop thinking about this comment because in just eight words he summed up the opportunity we have here in America to control our own energy destiny.
Yes, the sharp decline in the price of oil is on everyone’s mind. The continued opposition from critics and governing bodies is always a disappointing road block. But we are oil and gas, and we’re American – we move forward. Make no mistake about our current situation – we are in a world-wide battle for oil. The rest of the world cannot survive with oil prices at current levels; however, we can. The road may be bumpy. Production levels may rise and fall, but we will survive the volatility. We will continue to prosper, especially when the price of oil bounces back to true market value. We can pivot. We can change strategies. We can outlast the competition. It may seem as though it’s dark and dreary lately, but let me humbly say, it’s still very sunny – so keep making hay.
Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.