Holistic Engineering Approach in an Uncertain Oil and Gas Market
Oil has often been called the lifeblood of a healthy economy. It still is and will continue to be. Many questions are in play as companies anticipate and determine revised operation plans, reduced rig counts, and cancellations and delays in capital projects. As we look toward the future, it will be important to keep your projects and goals top of mind and react quickly to current industry dynamics.
Many questions now relate to price – like will WTI return to previous $50 levels, and if so, when? Some analysts, (like Goldman Sachs) are predicting a return to above-$50 per barrel prices in 2021. This can raise all sorts of additional questions regarding acquisitions or completing capital projects. Is your firm positioned to quickly respond versus the competition when prices do bounce back? Can you optimize operations and weather the storm if low prices persist?
As the industry moves through ups and downs, needs change quickly, and internal staffing and resources can be tight. A full-service engineering consultant can help you understand holistic options for your next move. A holistic approach with a multi-disciplinary firm can support your short and long-term planning in an uncertain market. From laying out the site plans and permitting needs, to facility planning and design, KLJ is ideally positioned to help you analyze your situation and respond quickly. We have been a trusted engineering and consulting partner for more than 80 years, combining market understanding with a full suite of engineering and consulting services, including key lead-in services such as environmental services, government relations, right-of-way, and survey – services that you may not always associate with your consulting engineer. Our approach is to build a team around our clients – brining in our in-house capabilities or coordinating with resources and agencies. Boom and bust cycles are stressful and require consistency, patience, and an understanding of how the cycles impact all aspects of the industry.
Three steps your firm should be taking now include:
Review short and long-term capital projects and prioritize
Identify staffing needs or adjustments
Consider if a conversation with a full-service consultant to discuss future projects and needs
KLJ is a trusted, knowledgeable, full-service engineering consultant who has been through the cycles before. Our team can be a critical part of your continued and future success. Visit us at www.kljeng.com for more details on our services, or to start a discussion.
Dennis Miller brings extensive oil and gas experience and can help as you consider your planning engineering, due diligence, consulting or other needs. Reach out to Dennis at Dennis.Miller@kljeng.com.