The past year brought several milestones to the oil and gas industry. Let’s hope for the same in 2015.
Happy New Year! Hopefully 2014 was a good year for you and your company and now you can look forward to the year ahead.
Last year was great for the oil and gas industry – oil production continued to rise, and the industry continued to create jobs and reach new milestones.
Here are just some of the highlights from 2014:
- One million barrels of oil per day in the Bakken. The North Dakota Department of Mineral Resources reported that the state produced 1,002,445 barrels of oil per day in April. North Dakota is the fifth state to reach the 1 million barrels per day mark and is No. 2 in yearly production behind Texas.
- Most productive month for natural gas production. According to analytics from Bentek Energy, April was the most productive month ever for U.S. natural gas production. Natural gas output for the lower 48 states averaged 67.3 billion cubic feet per day.
- Ohio reaches 1,000 wells. The Ohio Department of Natural Resources announced in August that the 1,024th shale well had been drilled in the state. That included 997 wells in the Utica Shale and 27 in the Marcellus Shale.
- Production and service jobs up in Texas. Oil and gas production and service jobs in Texas exceeded 300,000 over the summer for the first time since such data has been kept, according to the Texas Petro Index.
- Last year also turned out to be a building year for some companies.
- Green Energy Oilfield Services, profiled in this issue, focused on implementing a new business plan and increasing cash flow in 2014.
- The company, located south of Dallas, started operations in 2012 with plans to serve just one customer in the natural gas industry. Early on, however, natural gas prices plummeted and that customer drastically reduced operations, forcing Green Energy to rethink its business plan.
- The company refocused on the Eagle Ford play by opening additional yards and adding trucks. Green Energy now serves several customers and finds its fleet of tanks and trucks in daily use.
- Green Energy CEO Joe Monroe says the company is poised for a strong year and may even look at further expansion.
Moving forward
This is also a good time of the year to look at how you can improve your own skill set and knowledge base, as well as the overall operation of your business in the coming year.
One way to do that is by attending the Water & Wastewater Equipment, Treatment & Transport (WWETT) Show at the Indiana Convention Center in Indianapolis Feb. 23-26. The show will have the latest in technology — everything from hydroexcavators to vacuum trailers — on display for you to check out.
The show also provides a plethora of educational opportunities, which are outlined in this issue. The courses are taught by industry experts and offer the latest information on tools, technology, safety and business for the oil and gas industry.
This issue also marks my first as editor. I’ve been writing stories and doing some behind-the-scenes work for a few months and now my role is expanding.
I’m looking forward to keeping you informed on the people, services and equipment that are driving this industry forward.
I’ll be attending the 2015 WWETT Show and would welcome the opportunity to meet you and discuss the work you’re doing in the field and the stories we’re covering in Gas, Oil & Mining Contractor. Feel free to email me at [email protected] or call me at 800/257-7222 with any thoughts or suggestions.
Enjoy this month’s issue of GOMC!
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