Tight Profit Margins Boost Internal Efficiency at Natural Gas CompaniesSource: Fuel Fix | 30 October 2013
Unpredictable prices and tight profit margins are boosting the need for teamwork within natural gas companies, while competition spurs innovation, speakers said at a Houston conference on 29 October.
Natural gas exploration and production have soared as technological advances have opened up unconventional plays including shale, but the erratic price of natural gas keeps profits thin, said Andree Griffin, vice president of geology and geophysics for ExxonMobil subsidiary XTO Energy.
She spoke at the Women’s Global Leadership Conference at the Hyatt Regency Houston downtown.
Griffin said departments within natural gas companies once worked in a “siloed environment”—referring to an organizational structure in which units stand alone with limited collaboration and communication.
But she said fickle natural gas prices now require intracompany collaboration seldom seen before in energy companies.