A Conversation with Greg Elliot, an Entrepreneur in the Energy Exploration Industry
2003; Volume: 8; Issue: 4 Linguagem: Inglês
ISSN
2326-3709
Autores Tópico(s)Marine and Offshore Engineering Studies
ResumoExecutive Summary The energy industry is often perceived as being made up of giant behemoths that pollute the environment and gouge the public at the gas pump. Perhaps a more accurate picture would capture a vast entrepreneurial world made up of many small to medium-sized, privately owned enterprises that provide a myriad of services to the major oil companies. These entrepreneurs are now venturing into the global arena in increasing numbers and discovering growth opportunities that are challenging the entrepreneurial style of management. Greg Elliot, President and CEO of Workstrings, LLC (a division of Superior Energy Services, Inc.) is one of those entrepreneurs. Located in Lafayette, Louisiana, this successful venture is engaged in renting drill pipe and related equipment to the major players in the domestic and international energy exploration industry. Elliot joined Chevron USA's drilling department following graduation from Louisiana State University with a degree in petroleum engineering in 1981. After fifteen years with Chevron (now Chevron-Texaco), with ten of those years in international operations, he started his own company, Workstrings. His international experience includes offshore West Africa, (Angola, Congo, and Nigeria) onshore in Kazakhstan (formerly USSR) in the Tenzig oilfield development - the largest oilfield discovered in the world in the 1970's, South America, on shore in Bolivia and Columbia and the Andes mountains, Spain, and Papua New Guinea. His domestic career was mostly in the Gulf of Mexico, in the deep South Louisiana gas exploration as well as the Rocky Mountain Overthrust regions. Elliot holds memberships in the American Society of Petroleum Engineers, the American Association of Drilling Engineers, and the International Association of Drilling Contractors. He became president and CEO of Workstrings in 1997 and continues in that role today. In 2001, he was a finalist in Ernst and Young's Entrepreneur of the Year award program. His company was acquired recently by Superior Energy Services, a New York Stock Exchange listed company and operates as a wholly-owned subsidiary. Author: You earned a degree from Louisiana State University. What did you do after you completed your college degree? Elliot: I was hired by Chevron USA in 1981 and went to work as a petroleum engineer in the drilling department. Author: Tell me about your tenure at Chevron. Elliot: I was there fifteen years - five in the USA and ten in international projects. I was either a drilling engineer/project manager or well test engineer in places like Nigeria, Angola, Congo, Kazakhstan, Spain, Columbia, Bolivia, and New Guinea. Author: Are there any particular events that stand out in your memory at Chevron? Elliot: Yes. I was a member of a Chevron team that visited the former Soviet Union in 1989 before the collapse of the Iron Curtain. I guess the thing that impressed me most about that experience was how far behind the Soviets were in drilling and related technology compared to U. S. technology...at least 30 to 40 years at the time. I should point out that they are rapidly advancing that technology. And I should also point out that as a result of the current developments in Russia's energy industry, the rest of the world can no longer be held hostage by OPEC. Current Russian reserves are keeping the price of crude oil down, and OPEC knows it. There is a lot of maneuvering going on in the global energy business. Stay tuned! Author: Given your seniority with Chevron, what motivated you to start your own company? Weren't you giving up a lot of job security? Elliot: Yes, it was a tough decision. Chevron was a great company to work for and the salary and benefits were outstanding. I met and worked with some truly excellent personnel and still maintain some great friendships. In fact, Chevron, now Chevron-Texaco, is one of our best customers. But, I had this latent desire that had been burning inside of me to build something. …
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