Guest Editorial: Managing Production to Weather the Storm

Topics: Artificial lift

The recent plunge in oil prices has reinforced a number of truths about our industry.

  • It is cyclical.
  • Declining prices shift spending from capital expense to operating expense models.
  • In depressed markets, operators turn their focus to high-value return on existing assets that meet the price threshold.
  • Operators who successfully harvest production from those existing assets are well-positioned for the inevitable market upturn.

While the advent of US unconventional plays has created nothing short of a seismic shift in our industry, these truths at least remain constant. And they all point to one fundamental certainty: In a “bust” cycle, production is king. It pays the bills. It helps keep the wheels of technology innovation turning. It is the foundation on which the next “boom” is built.

The challenge, however, is in the approach to and execution of production enrichment programs.

Wade Welborn is vice president of artificial lift systems for Baker Hughes. Before assuming his current role, he served as the managing director of the Nigeria geomarket. He has more than 23 years of engineering and management experience in the oilfield services industry. He began his career with the Western Company as a field engineer in 1991 and joined Baker Hughes 4 years later and has held positions of increasing responsibility during his tenure with the company. Welborn holds a BS degree in petroleum engineering from Texas A&M University and an MBA from Robert Gordon University in Aberdeen.
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Guest Editorial: Managing Production to Weather the Storm

Wade Welborn, Vice President of Artificial Lift Systems, Baker Hughes

01 August 2015

Volume: 67 | Issue: 8

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