Postcards from the Edge: What the Oil & Gas Industry Learned from the Downturn

SUGAR LAND--September 1, 2016--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)-- With expectations that the crude oil market has finally achieved some stability, executives last week discussed what can be learned from the industry's recent downturn, where over a two-year period crude oil prices fell from a peak of over $100 per barrel to a low of about $30 per barrel before settling into the $40-$60 per barrel range. "Be prudent during the good times and be willing to sacrifice during the downturn," said Lynn Peterson, chairman, president and chief executive at Synergy Resources Corporation (NYSEMKT:SYRG) (Denver, Colorado). "Prices will increase, and we will see future downturns."

Within this article: Executives discuss where the oil industry has been and the direction it may be going.