The Energy in Transition podcast, hosted by PESA President Leslie Beyer, released a new episode featuring a discussion about the future of the OFS sector and the broader energy industry with ProSep Chief Executive Officer Mahesh Konduru.
In this episode, Beyer and Konduru engage in a conversation about an array of topics, including what the oilfield sector needs to do to recover from effects of the downturn.
“If there’s so much competition for smart capital, how do we position ourselves in the right way to show them we’ll return capital the right way? All the excesses in our industry the past 10 years have to go away. We have to be smart in how we deploy capital.”
Konduru believes OFS sector companies will be able to thrive in the post-pandemic environment.
“There are tremendous opportunities for companies like ProSep and other companies our size,” he told Beyer. “Our size gives us more agility in coming up with new products that add value, enable us to differentiate ourselves, and we can deploy them faster.”
He sees a long-term role for oil and gas in the energy industry as the world transitions to a lower carbon energy future.
“Let’s accept it: we produce energy from fossils,” Konduru said. “That’s okay. Let’s not get defensive about it. We have infrastructure in place that we have to use. The most economic fuel is what we have. While we make progress on renewables, why don’t we commit to being responsible with how we do things? With how we treat people? With how we treat the environment?”
He said that oil and gas companies have a wealth of experience and expertise that be a valuable resource to the development of renewable energy sources.
“Renewables can develop at their own pace,” he told Beyer. “While they’re developing, [oil and gas companies] will give you our best practices. We understand how to deploy technology.”
One reason Konduru envisions a prosperous future for OFS sector companies is the industry’s history of producing and deploying innovative technologies.
“To me, technology drives many things and economics drive the rest. The technology in our industry is very modern. It’s tremendous technology. The increasing move to digital will only attract more talent into the industry.”
With eight episodes now available, the podcast is a platform for high-level discussions about the state of the OFS sector, emerging technologies, and the path ahead in lower-carbon energy development.
In each episode, Beyer engages industry executives and thought leaders in an exploration of industry trends and topics, including ESG, capital markets, inclusion and diversity, workforce innovation, and the role of oil and gas in the transition to a lower carbon energy future.
- Rod Larson, President & CEO, Oceaneering, and PESA Board Chair
- Robert Drummond, President & CEO, NexTier Completion Services
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- Kenneth B. Medlock III, Ph.D, James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics at Rice University’s Baker Institute and the senior director of the Center for Energy Studies
- Gabriel Rio, President & CEO, Milestone Environmental Services
- Scott Gale, Executive Director, Halliburton Labs
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