Sandy Esslemont had the unenviable task of taking the reins of Parker Drilling just as the world was shutting down from the COVID-19 pandemic, which led to destruction in demand and a historic oil market crash.
Good thing he has 37 years of experience and an optimistic attitude to rely on.
“We have some pretty lofty goals at Parker over the next five years,” Esslemont told Hart Energy Editorial Director Len Vermillion. “They may be in a holding pattern in 2021 but I see the ability for us to reorganize into a much more nimble organization to take advantage of what we think is going to be an upturn in 2022 and thereafter.”
Esslemont was named as president and CEO of the international provider of drilling services and rental tools to the energy industry on March 23 after an extensive search for the replacement to the recently retired Gary Rich. He recently paid a visit to Hart Energy’s headquarters in Houston to discuss his new role plus the path forward for Parker Drilling and the oil and gas industry as whole.
Jump to a topic:
- Reason behind joining Parker Drilling (0:35)
- Strategy following COVID-19 (1:25)
- Industry optimism (3:39)
- Building Parker Drilling’s niche (4:30)
- International markets (5:55)
- Technology and innovation (6:38)
- Data analytics (9:07)
- Workforce solutions (9:37)
- Outlook for OFS opportunities (10:14)
- ESG and climate change (11:34)
- Oil and gas in the future energy mix (13:04)
Sinking oil prices are turning distressed U.S. energy companies, such as Gastar Exploration, Parker Drilling and Waypoint Leasing, into takeover targets for opportunistic private investors.
Parker Drilling Co. announced on July 15 that Gary Rich has decided to retire from his roles as president, CEO and director of Parker Drilling later this year.
Pioneer Natural Resources founder Scott Sheffield returns to his former role as the Permian Basin oil and gas producer’s CEO following the retirement of Tim Dove, effective immediately.