The O&G industry is accustomed to booms and busts, but the current downturn is arguably the worst in Houston history. As a machine shop in the energy capital of the world, TCR Inc. is taking a moment to provide an oil update and offer some solid advice to help companies survive.
Oversupply and declining demand have created a nightmare for the industry and the people of Houston. The numbers are shocking, and our thoughts and prayers are with the affected.
As of June 15, 2016:
- 118,000+ O&G workers have been laid off
- 9 upstream O&G companies have filed for bankruptcy
- 8 rigs in the Gulf Coast have been abandoned
What was once thought to be a single bad year has developed into multiple years of uncertainty. Fuel Fix, Rigzone, and The Houston Chronicle can’t predict the future and neither can TCR.
We do know the Houston O&G industry will make a comeback, and those who make smart choices will thrive when it does.
If You're In Need Of Maintenance
While you're down would be a good time to perform maintenance on your turbines, compressors, and other equipment. It’s expensive to stop production if there’s an issue, so take advantage of this current downtime.
We understand money is tight, but spending a little now can save you exponentially by preventing future breakdowns.
TCR Inc. stands with the O&G companies in Houston and will continue to meet the strictest tolerances and tightest deadlines to help them survive now and thrive in the future.
Keep your equipment and investors happy. Contact TCR Today.