When I was five years old, my Dad took my Mother and I to Jamaica. It was my first trip anywhere, and it was paradise. My Dad wore a gold nugget Rolex, and carried literally thousands of dollars in cash in his front pocket. He bought my Mother a diamond that made every woman jealous, and we were rich. And then oil went to $10 and the nearly 5,000 rigs that were drilling in the US went to 1100. We were broke, and although my Dad didn’t sell his gold nugget Rolex, he had me put it in the floor safe of the home we lived in on Cornett. Since then, I’ve lived through my own oil boom and bust, and likely will see a few more. My skin grows thicker by the minute.
What I find entertaining are the theories manufactured in an effort to explain the feast or famine nature of the O&G life. Supply, demand, dictators, war, cold winters, WMDs, bailouts, etc. You name it, I’ve heard it, and if you’re in the O&G, you can add a few descriptors yourself I’m sure. The point is, no one knows if and or when any or all of these influencers will drive the price of oil up or down; one can only speculate. However, and as silly as it sounds, anyone can predict two things; it will go up, and it will go down. The key is being right. Rarely is anyone right, or at least consistently right. If and when you are right, everyone loves you, but the minute you’re wrong, the booing begins.
You’d think that by now, someone really smart would have figured out a way to strike a balance between growth and sustainability, but for the most part, the only companies that can stay steady are the ones that have figured out how to make hay, and sit on it. The small guys not so much, which is why so many get washed away in the huge swells of the O&G storms.
But before you think this is a doom and gloom piece, it’s not. I happen to be one of those that have grown to appreciate the volatility of the industry. The older I get, the more I realize that it’s all about how you play the game. The price of oil will be $150 before long. No, I can’t tell you when or why, but I can tell you it will be sooner than later. Why, because the World needs it badly, and the swings typically don’t last. And, although I’m a supporter of alternative energy, we’re likely a hundred years away or more from replacing oil and gas as the primary energy source.
So, instead of worrying about how many rigs are being stacked, how low the price of oil will go, or whether you’re the next to be let go; focus on doing your job, servicing your customer, and getting your house in order, because before long, the World will give us a reason to be excited once again.
Oh, and if you happen to have a nugget Rolex, they’re back in, so wear it proudly. You know who you are.
Last week, I traveled to Phoenix with my EO forum to attend the Bondurant school of high performance driving. It was an incredible experience, and I highly recommend the school to anyone interested in improving their driving skills. We also got a chance to meet the founder, and former Gran Prix driver, Bob Bondurant, which was a huge bonus.
Although the driving school was most likely a once in a lifetime experience for me personally, it wasn’t what I’ll remember most about the trip. I left Phoenix with a much more valuable nugget. I learned that my personality, coupled with my insecurities and past experiences can make for a frustrating experience for strangers and friends alike. This “quality” is a defense mechanism that I’ll explain later, and is one I share with the late Marylin Monroe.
If you Google Dan Henderson, you’ll most likely discover the UFC champion Dan Henderson, or Hendo. However, if you Google Daniel Henderson, you might find me; a self-proclaimed blogger, entrepreneur, and truth seeker. No, I don’t have my own Wikipedia page, but I have staked claim to my own little spot in cyberspace, where I can make up ridiculous tag lines, challenge people to think, and share my most recent experiences and discoveries.
Contrary to what some might say and/or believe about me, and like Marilyn Monroe, I’m an introvert. I enjoy close friendships, recharge with time alone, and fittingly use sharp, self-deprecating humor as my primary defense mechanism. It’s often raw and disruptive, and secretly in an attempt to cause a person to judge, and when they do, I’ve got them. It’s gross when you think about it in that context, so I prefer to think about it as a way to guard my heart, however, thanks to a few friends, I’m now exposing it for what it is in an attempt to grow.
So to those that don’t know me and would like to, think you know me but don’t, or coudn’t care less to know me, but somehow stumbled upon this blog post because you’re a Marilyn Monroe fan, don’t bother Google with the query. There is little you will find, save this blog, that allows for a look inside my soul where hurt and hope share a room, and truth remains the hidden treasure.
I accept you.
My Father, Doyle Henderson, died on September 21st, 2005. A few days later I called a meeting with approximately a dozen employees to let them know that they would keep their jobs through the balance of the year, and during that time, I would determine the fate of the company. Over the next three years, the company experienced exponential growth, made multiple acquisitions, employed hundreds of people all over Texas, and won many fans along the way. We treated our employees well, serviced our customers with conviction, and paid our vendors on time.
A few months after a highly strategic acquisition (mid 2008,) we were in trouble, and didn’t event know it. We were in a vacuum. Our cost structure was too high, and our backlog, AR, and sales were all shrinking. When we began to realize we needed to act, we had burned through millions and discovered our inventory was highly overvalued. Our credit was cut off, and tough times were imminent.
The past few years have been very taxing on many. We’ve lost good employees, let stakeholders down, stretched vendors, and have made many mistakes along the way. However, I’m proud of what we have accomplished, and am truly grateful to have shared the experience with so many people along the way.
Today, the name DOYLES still humbly stands for what matters most; doing the right thing.