The current oil and gas boom cyde may differ from past up markets,but the industry must improve how it manages the cycles.A unique set of circumstances paved the way to the upmarket the industry is enjoying,but supply chain tightness and inflation are a large part of the picture.At the same time,operators are concerned about maintaining competence of rig site personnel through boom and bust cycles,speakers said during the IADC Drilling Onshore Conference and Exhibition on May 19.The current upmarket in oil and gas is completely different than the one the industry was riding in 2007 and 2008,according to Ian Macpherson,senior research analyst at Piper Sandler.Back in 2007 and 2008,"we were into a well-lubricated growth mode"with the expectation that prices would be"stronger for longer,"he said."What we have now is the opposite of that in every way."
展开▼
