American Oil and Gas Reporter - May 2020 - 21

Irrepressible Industry
Taking To Virtual Events
During Unusual Times
Adaptation paired with technology are the key ingredients
for any successful oil and gas operation. Now, as the world responds to these uncertain times, our industry is doing what it
always does-we are adapting.
The oil and gas industry has a rich history of adjusting to
changing times and shifting markets. There are always highs
and lows, but our ability to adapt moves us through uncertain
and even unstable environments. Even before the new norm of
social distancing, large operators were experimenting with
remote work environments, digital content and virtual meetings.
Online training has become commonplace with organizations
such as the Society of Petroleum Engineers, American Association
of Petroleum Geologists, Petroleum Technology Transfer Council
and others. Now seems like a good time to highlight some of
our industry's shining stars who are offering online opportunities
to connect, learn and get the job done.
A small Tulsa Company, NSI Technologies, which provides
hydraulic fracturing software and consulting, has adjusted to
the industry slowdown by providing an online resource that is
attracting a lot of interest. Hosted each Wednesday, once in the
morning and once in the afternoon, is a roundtable discussion
session called "NSI Wed(NSI)day" that is led by expert members
of the NSI team. The group gathers folks on a virtual meeting
and encourages discussion related to the topics of that day. The
free sessions generally draw around 70 participants from around
the industry and consistently the facilitators have to cut the discussion off because it generally runs more than the allotted
hour. Recently, NSI adjusted the format slightly to discuss conventional formations during the morning session and unconventional in the afternoon. The afternoon session has been informally dubbed "the happy hour session," and it's not uncommon
to see hosts enjoying a glass of wine as the discussion unfolds.
What NSI receives in return is great recognition and an average
of 50-70 new potential leads each week.
Another organization providing great content during the new
digital norm is the Independent Petroleum Association of
America, which serves as an informed voice for the exploration
and production segment of the industry and advocates its
members' views before the Congress, the White House and
federal agencies. IPAA provides economic and statistical information about the U.S. exploration and production industry and,
in the service of its members, has a history of providing great
content to its members as well. One session that I attended
online was called "Proactively Navigating Distress in the Oil
and Gas Industry." During this session, three experienced restructuring professionals discussed how to proactively and
strategically navigate this industry environment, including analyzing and measuring liquidity, determining valuation, understanding a lender's perspective, evaluating the potential use of

"During this rapidly evolving time,

information and how we use it will be the
deciding factor of success or failure in the
coming months.

bankruptcy as a tool and considering post-bankruptcy mergers
and acquisitions. Part of the discussion included a look at past
down cycles and what might be on the horizon. Moreover,
another great feature of IPAA's content is the archive of past
presentations, which makes for a great industry resource.
With its rich history of providing stellar industry content,
SPE has been using webinar technology for a while now and
has increased its web offerings during these unusual times.
One of the Gulf Coast Sections great resources has been the
monthly lunch and learns, which now are being provided
online. One session that I attended from the Permian Basin
group was called, "What Comes Next? 2020 and the Future.
Why Russia and Saudi's decision changed everything." which
was held May 7. The discussion focused on the black swan
event and its implications.
Another great source of information and education is LinkedIn,
which has been embraced by the petroleum industry. One unique
thing we are seeing on LinkedIn is that, in addition to users
monitoring the companies and individuals as they navigate this
crisis, a surge of online content has become available for users
as companies create and post materials and messaging that aim
at staying relevant and serving as an industrywide resource.
Now more than ever, it is important for industry to seek out
and consume as much information as possible. During this
rapidly evolving time, information and how we use it will be
the deciding factor of success or failure in the coming months.
The great news is, more individuals, companies and organizations
want to share their expertise, experience and innovation with
the industry and the world. Uncertain times are nothing new for
the oil and gas industry and as we move into the coming
months, I am confident that our industry once again will rise to
the occasion and innovate our way to another prosperous time.❒

JEREMY VISCOMI is a strategic

marketing expert for the oil and
gas industry. Among his many
roles, he serves as the MidContinent regional lead for the
Petroleum Technology Transfer
Council, providing independent
operators with access to emerging technology aimed at reducing
risk and growing profits.
MAY 2020 21

American Oil and Gas Reporter - May 2020

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