1 July 2020
Through the Trough of Sorrow to the Promised Land
PWS president Lisa Henthorne encourages continued professional and community development during hard times to prepare for opportunities as the industry recovers.
We are a troubled bunch. As well-intentioned as oil & gas professionals are as individuals, the repeated feast-and-famine cycle of our industry causes enormous inefficiencies in 1) adoption of innovation, 2) continuity of our workforce and know-how, and 3) the long-term profitability of our companies.
CarboNet has developed a droll but defining graphic of an oilfield services company lifecycle (shown below) that speaks volumes. As leaders in our industry, we must learn and teach fiscal discipline through both the good and tough times. We must ask ourselves, “What can we do to plan for both our company’s growth and the lean years that come from fluctuating oil prices?” We should also strive to use these downturns to foster professional growth and mentoring to sustain knowledge, and to push ourselves to learn new things.
When you’re out of a job, I know it’s difficult to maintain a positive attitude, much less a desire to learn. It’s also difficult for the younger generation to stay committed to the industry when they consider a future of downturns like the one they’re living in. The Produced Water Society (PWS) is here to provide support: professional growth, networking, knowledge, and - through our PWS community - a shoulder to lean on as we march through the “Trough of Sorrow” towards another “Promised Land.”
Stay in touch via our monthly PWS webinars and Water in Oil newsletter. We’ll be shifting to the Middle East produced water market for our July webinar before moving back to the unconventionals focus in August. September is Technology Month, so stay tuned!