As my partners and I at Preng & Associates complete our 35th year, we are reminded again of the extreme cyclicality of the oil and gas industry. My view is biased. I have spent my entire career in the oil and gas industry. My sons and daughter work in the oil and gas business. We know the challenges that executives and boards face every day to generate cash flow and net income to build their businesses.
Our clients are energy executives and boards. They repeatedly tell us their most important asset is people: employees, colleagues, peers, and partners. Their biggest challenge is not finding the next Marcellus or Wolfcamp or creating the newest completion technology that unlocks millions of barrels. It’s finding and retaining the right people who are motivated and talented enough to make the organization better.
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