Allen Gilmer of Enverus and Digital Wildcatters’ Chuck Yates discuss lessons from shale booms and busts
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To wrap up a day of panel discussions and rapid-fire demos at Digital Wildcatters’ and FreightWaves’ virtual conference, Evolve: The Next Evolution of Oil & Gas
, Allen Gilmer and Chuck Yates sat down with a bottle of cabernet to reminisce about lessons learned from the boom-bust cycles of the oil and gas industry and offer advice for those getting into a business sector that could be on the verge of a new upswing.
“I think the biggest culprit in all of this were public investors measuring companies on the basis of production growth,” said Yates, whose job title is “galactic viceroy” of Digital Wildcatters. “They didn’t care about rates of return. And you got addicted to that as a public company. So, am I going to experiment with six wells even though I think 12 wells is the right spacing? No you drilled the 12 wells.”
Evolve keynote: ‘Nothing builds culture like winning’
CEO Toby Rice says EQT’s aim is to ‘drill the most economic wells’
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Toby Rice, CEO of EQT Corp, said “culture is everything” when creating a company that can thrive.
Rice co-founded Rice Energy Inc., a Pennsylvania-based natural gas producer, with his brother Derek in 2007. In 2017, Rice Energy was sold to EQT for $6.7 billion.
In 2019, Rice became CEO at Pittsburgh-based EQT Corp, the largest natural gas producer in the United States.
“At the end of the day, what we’re trying to do is generate great results. It’s not about suits, it’s not about bureaucracy, it’s about getting results, it’s about whatever makes you the most comfortable so you can focus on getting the results,” Rice said during a keynote discussion Wednesday for Evolve: The Next Evolution of Oil & Gas.
Evolve: Is the startup scene sustainable?
Layoffs releasing talent ‘into the wild’ to create startups 227 1 minute read
This chat was part of Evolve: The Next Evolution of Oil & Gas, a virtual summit presented by
TOPIC: Understanding the landscape for oil and gas startups
DETAILS: Hardware and software startups both have exciting ideas to improve the battered oil and gas industry. But the road to billions is slowed by the industry’s unsavory reputation.
SPEAKERS: Diana Grauer of TechnipFMC and Ryan Gurney of Montrose Lane
BIOS: Grauer is the director of research and chief research engineer for TechnipFMC. She came from Hoerbiger, where she was vice president of engineering. She held management roles within Cameron, OneSubsea and Schlumberger following a stint as a research engineer and laboratory program manager at the Department of Energy Efficiency & Industrial Technology at the Idaho National Laboratory.