Drilling Contractor 1/28/2015
The global drilling industry is going through a rough patch. Falling oil prices have put companies on edge, stirring anxieties about what lies ahead in 2015 and pushing cost reduction to the forefront.
Panic is not running rampant, however. Industry leaders recognize both the cyclicality of this business and the strength of the long-term fundamentals. They’re also keeping lessons learned over the past decade – particularly about people, competency and operational integrity – close to their hearts.
“Our expenditures on training, safety and well control integrity don’t move with cycles,” Atwood Oceanics President/CEO Rob Saltielsaid. “We’ve been through downturns before… Over the longer run, our industry will not only survive, but thrive.”