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FiDD_815August IADD LuncheonStaying Ahead of the Curve
IADD News

Douglas-Westwood’s May 4 edition of DW Monday comments on how current oil and gas industry layoffs may be leading to another lost generation of workers, reminiscent of the shortage of experienced workers that the industry endured following the oil price downturn of the 1980s.

The oil and gas industry currently suffers a shortage of mid-career professionals primed for leadership and supervisory roles, the legacy of the last oil price downturn in the 1980s to the mid-1990s. At that time, the industry endured significant job losses, and hiring came to a standstill. As a result of the limited talent added, the group of individuals advancing into supervisory or eventual leadership positions in the oil and gas industry is notably small. 

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Texas remains on track to produce a record amount of crude despite the lingering downturn that’s shut down rigs and spurred oil companies to lay off tens of thousands of workers.

Even as oil companies pare their spending budgets and pull back from some drilling activity, production in Texas has continued surging toward all-time highs, said Karr Ingham, an economist for the Texas Alliance of Energy Producers, at his twice-per-year assessment of the state’s oil industry on Monday.

Statewide oil output is expected to reach 1.28 billion barrels this year, exceeding the state’s record of 1.26 billion barrels set in 1972, Ingham said.

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U.S. Rig Count is down 2 rigs from last week to 874, with oil rigs up 5 to 664, gas rigs down 7 to 209, and miscellaneous rigs unchanged at 1.

U.S. Rig Count is down 1,015 rigs from last year at 1,889, with oil rigs down 909, gas rigs down 104, and miscellaneous rigs down 2. 

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 U.S. commercial crude oil stocks are expected to have decreased 700,000 barrels in the week ended July 24, a survey of analysts showed Monday.


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The International Academy of Directional drilling announces a re-formatted Fundamentals in Directional Drilling Class. This class has been compressed to two days and will focus solely on Directional Drilling examples, problems and solutions. The cost is also reduced to $2950, but in recognition of the current state of the industry it is being offered at a price of $1450.  

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U.S. Rig Count is up 19 rigs from last week to 876, with oil rigs up 21 to 659, gas rigs down 2 to 216, and miscellaneous rigs unchanged at 1. 

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It is often said that the 'young ones' who are set to inherit the field are all too inexperienced and lack practical tutoring to fill the roles of the 'great crew change' yet time and again it seems firms are reluctant or downright against investing in their people. This has been made all the worse with the current 'low' oil price where the default reaction seems to have been the usual slash and burn of training and development, shedding of 'expensive' old hands and cutting back on conferences, field trips etc.

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W-Technology Link is an Engineering/Manufacturing company based in Houston, Texas specializing in the design and development of rotatable connectors and down-hole components for the upstream oil and gas industry. We deliver innovative products, specifically tailored solutions and customer support in the area of rotary connectors, centralizers and MWD/Wireline components. W-Technology Link combines quality design and operational agility to offer best-in-class services to our customers. Known for our team’s innovative mindset and extensive knowledge covering the applications of our products, our engineering and design team collaborates with customers to develop cost-effective solutions that push the limits of what is possible. 

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 Argentina and China are continuing to lead the global hunt for shale gas as countries outside of the US chase new oil and gas resources, according to a report by the US Energy Information Administration.

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 US shale companies have increased the number of rigs in the field for the first time in nearly seven months when oil prices were trading around $70 per barrel, compared to under $60 per barrel in the current market.

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