We’re back! We apologize for the pause in new episodes for #QualityMatters, but we’re back! Today we’re diving into a topic that Kyle is very passionate about, the role of small business in Oil & Gas here in America. The simple fact is, the super majors like Chevron and Exon do not play near the role in Oil & Gas extraction for the average American as small business does.
Reminder During The COVID-19 Crisis: The Oil and Natural Gas Industry is Dominated by Small Businesses
Drilling Oil and Gas Wells
|Size of Firms by Number of Employees||Percent of Total Employer Firms in the Drilling Oil and Gas Wells Sector|
|Less than 10||70.5%|
|Less than 20||80.5%|
|Less than 100||93.4%|
|Less than 500||97.4%|
Support Activities for Oil and Gas Operations
|Size of Firms by Number of Employees||Percent of Total Employer Firms in the Support Activities for Oil and Gas Operations Sector|
|Less than 10||71.4%|
|Less than 20||82.9%|
|Less than 100||95.4%|
|Less than 500||98.4%|
The role of newly evolving ESG “Environmental – Social – Governance” requirements is placing additional requirements on small business. But this is not all bad news. The small businesses and teams that are prepared to implement, and quickly and more efficiently than the larger or otherwise slower counterparts are in a great position to dominate their space and stay competitive.
Special thanks to our friend Mark LaCour of OGGN the “Oil & Gas Global Network” for joining us again today. Be sure to follow OGGN (as if you have not already) where ever podcast can be found.