The low price of oil may have had a positive effect on most of the general public, but the effect is not so good for workers in the oil industry. The price plummet has cost many landmen their jobs. Large oil companies have been shutting off access to their wells and directly laying off employees. So far, over 75,000 workers have already been sent packing. The anger that is surfacing is in part because these giant oil companies are still seeing a profit in light of the dropping oil prices, but they are continuing to lay off skilled workers. So if these big companies are still laying off employees, what does this mean for the smaller companies and freelance landmen?
Smaller companies are struggling to keep themselves afloat amid the oil crisis, and all companies seem to be cutting back on researching and acquiring new wells. This is dire news for everyone who works in the industry, including landmen. Without the new wells, oil companies just aren't going to shell out the money to determine land ownership, procure land, and manage drilling communications. It's just not feasible for them at this time. However, there are ways that landmen can get ahead of the layoffs and the subsequent competition in the industry. Landmen have very particular skills sets that are considered valuable. Instead of thinking that this is the end of landmen’s career, consider this a time to update resumes.
Invest in Additional Education
Landmen who are facing fears of losing their jobs, or who have already been laid off, can benefit from acquiring some extra education. Landmen are already highly skilled in research, negotiation, and project management. These are skills that can be transferred over to a multitude of other career choices, both inside and outside the oil industry. Seeking additional education can give them the business skills needed to move higher up in the industry, like a risk manager, compliance officer, or campaign manager. With a background in research and legal education, landmen don't have to be restricted to just one career path.
Become Active in Associations
Landmen associations are a great resource for landmen who have fallen on hard times. They offer community and professional benefits to create more business opportunities, and steer landmen towards the tools to secure them. Associations offer networking, educational meetings, certifications, and more.
Look For Lowered Membership Fees
Many resource companies, like CourthouseDirect.com, have lowered their fees for landmen. Landmen have access to courthouse and public land records nationwide at lower costs than ever before. CourthouseDirect.com is a valuable resource for landmen who are trying to offer their services as independent contractors. Much of the data is even free to view, so landmen can drastically cut back on operational costs.
Utilize Innovative Tools
CourthouseDirect.com also offers a free LeaseAlert tool. This tool is designed to let landmen monitor any lease activity that is happening in their area. Documents are collected from the country courthouses in every county in Texas, and reports are delivered as soon as they become available. Landmen who sign up for this tool will receive e-mail alerts when lease activity occurs. CourthouseDirect.com reports any and all findings in gas and oil related documents. In this way, landmen can stay a step ahead of the competition and receive real-time results.
It is understandable that many landmen may be in fear of losing their jobs in the wake of the oil crisis, but consider this a time to make some positive headway on continuing education as well as an opportunity to revamp your skill set. Landmen with these concerns should reassess their career path and keep an eye out for beneficial opportunities and resources.
