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Rental company culture positions it for continuing success

When it comes to safety and economic security in the oil and gas field, strong, long-term business relationships matter. According to a 2014 report (based on 2012 data) published by the National Council for Occupational Safety and Health (COSH), the oil and gas industry’s fatality rate is now 24.2 deaths for every 100,000 full time workers vs. 3.2 deaths per 100,000 overall rate for U.S. workers. It’s a dangerous world out there, and the economic downturn didn’t help.

Many companies, both within and outside of the oil and gas industry, are working hard to weather the challenging current climate. Take global management consulting firm, Bain & Company, for example. “For oil and gas executives, the need for operational excellence (OE) has never been greater. Exploration, development and production costs are rising, and refining margins are under pressure. Activity levels are also increasing, causing sector inflation. A shortage of technical talent and capability has bid up the cost of employees and services even further. Because one in four technical professionals will retire in the next seven years, this shortage could become even more severe.”

With rising costs, falling profits and the retirement of a talented labor force on the horizon, oil and gas companies are tasked with finding more efficient ways to operate. Cost, along with a competent work force, is key.

Outsourcing is a common method to meet specific needs such as equipment. Oil and gas companies may fare better renting over purchasing and maintaining new equipment. New equipment and their maintenance costs are high and tie up capital.

Competent and trustworthy rental companies are an asset. Take Light Tower Rentals (LTR), for example, though don’t be fooled by their name. They offer more services and equipment than just light towers. They are a one stop equipment rental shop that’s been servicing the oil and gas industry since 1994.

One of LTR’s co-founders, Ted Hogan, understands oil fields. He spent years learning all facets of the oil and gas extraction process, from drilling to production to completion. He knows his equipment, but he also values the importance of building and maintaining strong business relationships. Company culture is part of that, because when a positive work environment drives the company culture, it also influences their performance and customer service. The culture at Light Tower Rentals centers on three core values – safety, service and fair price. And they walk their talk.

Safety

LTR employees are trained and knowledgeable technicians. This is integral when transitioning from diesel to natural gas generators, an obvious choice for cost savings. Natural gas generators are perfectly safe when handled correctly, though Hogan is aware of the amount of training and knowledge required when working with generators.

He says, “A lot of our equipment is electrically charged, so it’s important to know what you’re doing. We have all systems in place as well as training for our people. We may set up and take down our own equipment, but we also show the customer how to operate it safely. We are one of the few companies in the oil field that actually has standard operating procedures (SOP) for every job. The SOPs are available for employees and customers via smart phones so they can operate our equipment as needed.” Keeping everyone safe on a job is fundamental in an industry known for its inherent risks. Working with a company with high safety standards is the obvious choice.

In related news, Gassing it up: a renter’s guide to natural gas versus diesel powered generators.

Service

Customer service can sound boring and rote. Every company must offer it. However the quality of the customer service impacts how well client needs are met. According to Hogan, his favorite part of his job is working with clients. “The friendships and the relationships that we build help our clients face the challenges of their unique situations. It affects how we work together and find the right solution to meet their needs.”

Not only does Light Tower Rentals strive for strong relationships with their clients, but they behave the same way towards their employees and the larger community to which they belong.

Internally, the focus is on creating a family-oriented culture that appreciates everyone’s contributions. “We stress family. It’s always been a tight knit group. Sometimes, the managers will just cook breakfast for everybody and say we appreciate you and what you do. We encourage a lot of cookouts and gatherings with the employees to show that we care.” says Hogan.

Even current employees are impressed by the focus on family and relationships at Light Tower Rentals. Chad Wolf, the Natural Gas Power Generation Business Development Lead at LTR says, “What surprised me most was probably the family feel atmosphere, being as large as we are. We have locations from Pennsylvania to New Mexico. That’s a pretty big spread, and we still have a family atmosphere. You’re not a number at this company. Everybody is somebody. Everyone brings something to the table. That hit home with me as a place I’d like to be for a while.” This level of commitment to high quality relationships extends to the greater community.

In fact, LTR employees at all levels participate in organizations and causes that better their communities.  Hogan says, “Many of our employees are on committees for various charitable organizations such as Meals on Wheels, Food for Children and muscular dystrophy walks to name a few. Every branch gets involved. We encourage them to participate and become a part of their communities.”

Fair Price

In addition to adding value to local communities and building high quality relationships, Light Tower Rentals also offer fair prices. Their experts can help find reasonable and affordable solutions to meet client needs. An easy way to cut costs in the long run is to switch from diesel to natural gas generators wherever possible. If there’s well head gas to spare, significant savings are within reach, though ultimately, this depends on the application and the output required.

Light Tower Rentals is a company that the industry can grow with and depend on over the long haul. As Hogan says, “We’ve come out stronger after every one of these economic downturns. This will continue, and we’ll continue to expand our geographic locations as well as the strategic products we offer. All of this makes us a better one stop shop for our customers.”

For more information, contact us at Light Tower Rentals.

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