Contractors shouldn’t be afraid of looking at different and newer ways of doing business. It could mean even more business when the industry rebounds.
We’re three months into 2016, and for many contractors serving the oil and gas industry, it’s continued to be tough with the downturn in oil prices continuing. Exploration and production firms continue to curtail their spending in the shale plays, which in turn means less for the companies servicing those operations.
Predictions vary on when the industry will bounce back — anywhere from mid-2016 to 2020, based on what I’ve been hearing. However, there are ways for contractors and companies to make it through this trying time and be ready when the industry bounces back.
Bullzeye Oilfield Services of Bowie, Texas, profiled this month, does one thing that all companies should do — excel at customer service. Bullzeye co-founder Zack Maxey makes sure he and his crews are available by phone all day, every day, and they listen to what customers need when they call.
One of the best ways to maintain your clients, even if they aren’t calling you with as much work, is great customer service. Call your customers every once in a while. Find out how they are doing; let them know you are still out there and ready for them when they need you again.
That shows you are ready at a moment’s notice; it also shows that you don’t want to lose them as a customer and are willing to work to keep them.
RELYING ON TECHNOLOGY
If you’re looking to reduce cost, this issue has some tips on technologies you could consider. While they cost money up front, fleet-tracking or GPS-type software might help you save money in the long run.
Many of you have trucks that need to make deliveries, such as water, hot oil or other oilfield supplies. There are technologies that can track idling time and fuel consumption and help you lower costs.
Our Product Focus feature this month has listings that can lead you in the right direction. We report on fleet management, telematics and site logistics tools.
TRYING SOMETHING NEW
Use this downtime to try something new. Do you have a vacuum excavation truck or pipeline inspection camera that you’ve only used for oilfield services? Consider what other industries you could dip into that could help support your business until the oil industry picks up again.
Our Bakken Extra feature this month focuses on Freedom Railcar Solutions, based in the Bakken Shale and owned by a transload facility operator. They heard from several customers who have to send their railcars for repair and lose thousands with those cars out of service.
Already being in the railroad service area, the transload facility operator launched Freedom Railcar Solutions and its mobile services.
This company sends its repair crews out to the railcars and does as much of the work on site as possible. Only if it is absolutely necessary will the car be moved. The mobile service saves customers valuable time on the rail, and money, by keeping the cars in service.
DON’T BE AFRAID
Finally, don’t be afraid to try new things. Test out different ways of performing the jobs. Maybe you can find better and more productive ways of doing them.
There’s no doubt that it’s going to be a rough road ahead, but if you put forth your best efforts, you won’t have any problem seeing the flip side of this downturn — and it could be even more profitable for you than the previous boom.
Enjoy this issue!
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