TB, Health And Safety, Cova discussed on Oil and Gas Startups Podcast


Seven two thousand twenty one to be listening real time. Come and check them out. They're going to be demoing. The software live as well. The whole team be there if you wanna chat with them like i said. Liquid frameworks dot com. Also leave a link in the show notes. So that's crazy. Yes we big thing now is not even the five hundred dollar gift card is that there's a write up. That goes out on slack on the last friday the month of who the you know. Next honorees with the tb award. And they're people you know submit commentary and things like it's really great. Nice really cool. Then we've also put in place. This field incentive plan so basically you know we look at what the profitability for the various routes and. everything should be in again we. We're kind of made this too complex and now we need to simplify it. Yeah but to the extent that actions that the guys on the ground taking are causing additional profit to the company we give back yeah a portion of that and we'd give them the opportunity to double their annual incentive comp through the field incentive program and we've awesome. We've paid out you know. It's is calculated in. We pay up probably between eighty and ninety percent like max target your quarter and are operating expenses. Are you ask how you know how we optimize what we do. I mean our our operatings bizarre. I think they are the lowest in the industry. I know they're by far the lowest of any of the operators that have not up that we have not up interested in yet and we're about fifty percent less than our average up interest in our three thousand and when we look at public companies were significantly less than them. Yeah and it's and it just goes down like it's not he's never sitting still there inventing and they're fully armed to go and make changes and figure out you know what is it that is causing me time. What is it. that's causing me money and you know how do i do. I fix it. One guy who who brought in a automatic soap stick launcher that. He started installing certain of his wells and like it was unbelievable. The savings out of it and this is like these are the pennies nickels and dimes. That we're picking up doing this and there was pretty cool. He put together a training video. And how it works and presented to the company at one of the Health and safety meetings. I thought it was so great. I showed it to our board at our next quarterly. Board meeting is just amazing. Unbelievable the level of kind of entrepreneurialism. That we've just down the initiative that you get from people when you have a line in since right. I mean people are going to be way more willing to think outside the box about. Hey the small business. How can increase shift changes that. Yeah we had So you know as if things weren't any better for us after the oil price collapsed During cova which kind of proven the thesis right We then went and bought a big asset at bankruptcy in the summer of twenty twenty..

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