“Here we are, over a year into this COVID-19 pandemic, and with such a severe contrast of its effects on all operations across the various regions of the globe where IADC members operate.”
Geddes discusses the economic hardships encountered by companies and their crews as the COVID-19 recovery looks different across IADC Membership. The Chair noted the peculiar oversights that both lawmakers and the public have expressed recently with respect to the energy industry’s contribution to the livelihood of our communities. He cited its biggest current hurdle:
“Access to capital continues to constrain operators’ ability to fund incremental drilling programs around the world.”
The drilling industry is no different with the rise of negative sentiment against it. Unduly carrying the weight of an entire world of consumer energy demand, Geddes encourages the industry to leverage the focus on ESG to rebrand itself.