Paul Goydan

Leaders who take a hard, holistic look across their cost base will find opportunities to reposition their companies for future growth. But they must act boldly and decisively to achieve a competitive cost position. In this article, the authors discuss five critical actions that CEOs and other executives can take to tackle cost challenges. Collectively, these measures help organizations sustain efficiency and redirect resources to invest in innovation, promote growth, and capture value

In this edition of BCG’s Executive Perspectives, we look at how leaders can respond to today’s unprecedented uncertainty by building a competitive cost advantage.

As the energy transition picks up pace, the energy market is transforming for the low carbon world. What does this mean for insurers, and how can they seize the opportunities of this unknown and rapidly growing market?

Although the oil and gas industry has made significant progress toward greater diversity, much remains to be done to gain the performance and productivity benefits that a diverse workforce provides.

Which technologies are capturing private investment, where is more investment most needed, who must provide it, and how best can they make the necessary investment decisions? Find out where the smart money is headed.

Ever since the US unlocked the resource in the 2000s, shale oil has remade the global oil market. Yet certain predictions—forecasts of how fast shale reserves would grow, the potential extent of shale’s decline in a price downturn, and when and how shale developments would become profitable long term—have by and large missed the mark, and the shale story remains a bit of an enigma . . .

If shale operators are to maintain their competitive advantage in a changing policy, technology and price environment, they will need a more skilled and flexible workforce.

On April 3, 2018, Energy Dialogues, Boston Consulting Group and the Center for Energy Studies co-hosted an event in which representatives from academia, industry and NGOs discussed three important themes in the oil and gas industry: economy, environmental stewardship and coalition building. This report summarizes the day's events.

For oil company executives in the US, the future may be closer than it appears. Low oil and gas prices and the Trump administration’s decision to leave the Paris climate accord might lead some to believe that the fossil fuel industry is immune from disruption. But we believe fundamental forces in mobility and power generation could pressure traditional oil and gas companies to transform the way they do business in the US.

Making money in shale isn't easy ... but it isn't impossible either. Permian executives face an urgent need to make responsible management decisions while attempting to differentiate their performance from their peers. Once they have established an acreage position, they must respect the geology while moving as thoughtfully and efficiently as possible to optimize netbacks for each hydrocarbon stream and reduce costs to maximize operating cash flow and EBIT.

Beyond the natural challenge of staying on the experience curve, operators must cope with the additional disruption in the supply landscape and severe loss of knowledge in the sector as a result of layoffs. Operators face an incredible challenge ahead to get back on the experience curve and maintain a lean cost structure. The biggest lever to meet this challenge is digitalization.

Interviewed on impact of withdrawing from Paris Agreement on oil companies

Shale operators must do what is necessary to negotiate today’s highly challenging environment while maintaining the gains they have made in operational efficiency and positioning themselves for a volatile future.

Distinct economic principles and requirements underlie success in shale development. This holds especially true for operational performance.

Transforming upstream oil and gas support functions, such as supply chain and logistics, can reduce per barrel expenses by $1-2 and improve project delivery effectiveness.