...so let’s focus on things we know we can effect.
This week, Bloomberg posted an article discussing what might happen to fees for drilling companies if crude prices continue to slump. A number of players weighed in on this topic about what their thoughts for the future were. But no one has a crystal ball. If we did, we’d all be living on a beach.
The only thing you can do with certainty is focus on the things you know can effect change. At VistaVu, we’ve worked with oilfield services companies of all sizes, and over the years we’ve seen that when it comes to assaults on operational efficiency, it’s the same internal issues that are offenders, over and over again. Ask yourself these questions: Are your systems working with each other or are you losing efficiency between them? Is your equipment utilization optimized? How much are you losing on your small equipment and tools? Are your billings timely? The size of your company changes how much these issues can affect your profitability. The bigger you are, the bigger the impact.
Read more about what these companies have experienced. Find out if these same issues are happening within your oilfield services company, and if so, how to address them. Until your crystal ball arrives in the mail.
Read the Bloomberg article here.
