HALLIBURTON
While many oil and gas providers are focusing on survival , Halliburton ’ s Canadian outfit is using the downturn as an opportunity to maximize its market share
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We see Canada as a leading indicator of potential downturns on North American lands ,” recounts John Gorman , Halliburton ’ s VP for Canada , who is optimistic about the future of his industry and the contribution his company can make to the future energy mix . “ We started streamlining our efficiencies ahead of the curve , so at the time the downturn really hit , we were already on our path to creating structural differences within our organization to become a lower cost provider .”
Like all companies facing the oil price downturn Halliburton faces a number of challenges , but the way it has gone about addressing them is unique . Coupling the latest technological advances in the industry with a competitive shift in the way it manages its supply chain , Halliburton has set the wheels in motion to make solid market and operational gains .
“ I think it ’ s really served us well , especially seeing as we are now coming into the second anniversary of the downturn ,” Gorman adds . “ Even before the downturn , our mantra had been to be the lowest cost per barrel provider in North America - Jim Brown is our Western Hemisphere President and he really focused on that as our primary driver . “ From our high tech directional drilling and bit combinations to “ Frac of the Future ” technologies , we are drilling wells faster and producing more oil and gas per well to really improve our customers ’ returns . At a time with economic challenges , this reduces the cost of services per barrel to the point where drilling and completion activities are justifiable .”
58 September 2016