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2010 Energy Survey Results Released
Written by Rochelle Scrivner Wednesday, 19 May 2010 16:09
Maxwell Drummond Energy Survey Reveals Shifting Energy Mix, Workforce Transformation and Lagging Industry Recovery
HOUSTON (April 21, 2010) – Maxwell Drummond has completed its annual worldwide trends survey of energy company executives with results that reveal an industry focus on strengthening the workforce, preparing for economic recovery and developing unconventional resources.
“Our annual survey aims to tap the minds of leading energy executives from around the world, and in a sense, to find out what keeps them up at night,” said Jamie Ferguson, vice president, Maxwell Drummond. “This year is no exception and our findings reveal a few surprises, most notably that companies with revenues less than $500M believe economic recovery to be at least 12 months away, while companies with revenues between $5 and $10B believe recovery to be three to six months away.”
Overall, respondents agree the economic recovery has been slower than expected but are taking advantage of the recession by improving their workforce and bolstering intellectual capital especially in the areas of operations, reservoir engineering, subsea, and sustainable extraction techniques. While many energy industry executives believe full recovery to be at least six months away, addressing the “big crew change” remains top of mind with almost 90 percent of respondents indicating their companies are investing in employee skills training and new talent acquisition to offset an ageing and rapidly retiring workforce.
Findings also reveal that energy companies are looking to capitalize on future sources of energy through R&D technology and strategic M&A activities. With regard to unconventional resources, respondents view solving water and environmental issues, and developing improved fracturing techniques as having the greatest impact on future development in this space.
Other top line findings:
- Respondents believe functional gaps are most acute in the areas of operations, reservoir engineering and subsea, particularly in locations where energy is hardest to recover;
- Compared to 46 percent in 2009, more than 90 percent of respondents would now recommend careers in energy and support heightened academic advocacy of energy and oil & gas-related degree programs;
- More than 50 percent of respondents view Eastern Europe and China as the main focus areas for development of unconventional resources in the foreseeable future;
- Respondents believe government will play a role in technology development and future energy sourcing through changes in legislation and tax breaks for the development of cleaner technologies.
From a geographic perspective, the survey revealed that most companies see West Africa as the leading region for deploying production resources in the foreseeable future. Offshore North America and the Middle East were tied in the survey as the second most important areas for near-term production opportunities.
“The recent news from the Obama administration could be a game changer from a regional perspective,” noted Ferguson. “It will be interesting to see how the proposal for opening offshore areas along the Atlantic coastline, eastern Gulf of Mexico and north coast of Alaska to oil and natural gas drilling will impact the energy industry’s view on regional futures. While drilling in these new areas will likely not take place for years, the timing may work favorably as companies continue to strengthen their balance sheets and workforce talent in preparation for a global market correction.”
The survey participants incorporated a sampling of leadership from all energy sectors including upstream, midstream, subsea, oil field services, EPC and seismic/subsurface. Nearly two-thirds of the companies surveyed have international operations and the majority of headquarters were located in the U.S. followed by Europe, although companies in Canada, Latin America, Asia-Pacific and Africa were included in the sample. The surveyed companies’ revenues ranged from less than $500M to more than $10B annually.
Download the complete Survey results here
MDI Australia in The News - The Daily Review
Last Updated on Thursday, 20 May 2010 13:30 Written by Rochelle Scrivner Wednesday, 19 May 2010 15:56
Monday 17 May 2010
Oil and gas recruitment firm Maxwell Drummond recently condcuted its Annual Energy Survey and has released the results to coincide with this year’s APPEA Conference. Hundreds of company executives representing all energy sectors participated in the worldwide survey which focused heavily on the workforce, developing unconventional resources and preparing for economic recovery after the global financial crisis. Maxwell Drummond’s Asia Pacific General Manager Donald Baillie said the aim of the survey, which was initiated last year, was to tap into the minds of leading energy executives around the world to find out what keeps them up at night.
Gas players work to fill skills gap - MDI Australia news article
Last Updated on Thursday, 20 May 2010 13:29 Written by Rochelle Scrivner Wednesday, 19 May 2010 15:25
As unconventional gas ramps up in Australia, industry players will need to turn to less-qualified applicants to help fill the skills gap, executive search firm Maxwell Drummond says.
Kimberly Wilson Nominated to Attend NWLS
Last Updated on Thursday, 08 October 2009 21:34 Written by Stephanie Spargo Thursday, 08 October 2009 21:25
HOUSTON - October 08, 2009
Vice President Kimberly Wilson was nominated by US Senator Mary Landrieu to attend the National Women's Leadership Summit, focused on Energy and Environmental Issues. Kimberly represented the Women's Energy Network, where she serves as Secretary on the Executive Board.
Maxwell Drummond International Senior Consultant Lance Boll becomes an Energy Advisor with the Houston Technology Center
Last Updated on Tuesday, 01 September 2009 11:45 Written by Rochelle Scrivner Tuesday, 01 September 2009 11:39
HOUSTON – August 28, 2009
Maxwell Drummond is pleased to announce Senior Consultant Lance Boll has become an Energy Advisor with the Houston Technology Center. As an Energy Advisor, he works with start-up companies to grow and commercialize new technology within the energy sector. Lance provides expertise in organizational design and supports the client companies’ growth through talent acquisition.
The Energy Advisor Group is made up of energy industry executives and professionals with diverse backgrounds in a wide range of functions including engineering, marketing, finance, accounting, operations, and human resources.
Houston Technology Center (HTC), a non-profit 501(c)(3) organization, is Greater Houston’s business accelerator and the largest technology business incubator in Texas. Accelerating the commercialization of emerging technology companies by providing in-depth business guidance, access to capital and service providers, and entrepreneurial education, HTC also promotes Houston as a leading technology city and serves as a hub for the local technology business community.
Supported by more than 300 corporations and organizations, Houston's leading academic institutions, Greater Houston Partnership, Texas Medical Center, NASA-Johnson Space Center and the City of Houston, HTC has become Houston’s center of technology entrepreneurship by assisting companies within several key sectors: Energy, Technology, Life Sciences, Nanotechnology, and NASA/Aerospace technologies. In ten years of operation, HTC has provided feedback to well over 1,000 companies and coached nearly 250 companies, helping them raise in excess of $750 million and creating thousands of jobs.
HTC serves as the Gulf Coast Regional Center of Innovation and Commercialization (Gulf Coast RCIC) for Texas Governor Rick Perry’s Emerging Technology Fund, assisting small to mid-size technology firms expedite the commercialization of new life-changing inventions and improving research at Texas universities. To date, the Gulf Coast RCIC helped 16 Gulf Coast region companies raise over $15 million in grants.
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