This downturn has pushed the U.S. Oil Field Services industry beyond repair
This is the second tsunami that the industry has had to weather in 5 years and those companies that emerged from the previous crisis have become more disciplined and efficient at managing costs. However, costs were squeezed tight after the last downturn and we are left wondering if further cost-cutting will be enough to survive this time around or whether bankruptcy is the inevitable outcome for most companies.
- Which are the major areas companies need to address first to cut costs?
- Which technologies can be leveraged to maximize efficiencies in these areas and make the biggest impact on the bottom line?
- As companies get leaner, how much will they depend on automation to sustain operations and efficiencies?
- What are the pros & cons of outsourcing operations and back office functions to help streamline G&A?
- Are conventional / EOR operations more cost-effective and easier to maintain in a low price environment?