Matt Fleeger, President and Chief Executive Officer at Gulf Coast Western, gives his insight on how to “navigate” the changes and challenges the oil industry faces today. In a recent article dated June 18th of 2019, Matt Fleeger begins to discuss the “challenges” the oil industry has been facing in recent years. He says the oil industry is “evolving” because of the new demand for “new, alternate energy sources.” In what is described as similar to tides in the sea, the oil industry is facing “highs and lows“. He further states that the industry is now “forced” to “re-invent their existing business models” to keep up with the changes. In a world where resources are depleting to the point of critical shortage, the need for renewable energy is even more vital in today’s society. The article then talks about strategies that the oil industry must “adopt” to “survive”.
The first strategy he talks about is the “willingness” to be flexible. Mr. Fleeger states that “flexibility” is the most important characteristic that any company in the industry must be open to. He then talks about the many times when, his very own company Gulf Coast Western, had experienced challenges that many other energy companies face today. He says that his company has “weathered some tough times over the past couple of decades.” Despite this, his company grew from this experience and continues to do so. He further goes into detail about the company’s past experiences that included a time during the recession.
In line with growth through experience, the next strategy Mr. Fleeger discusses is partnerships. Additionally, the article covers other strategies such as philanthropy and leadership.
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As mentioned Matt Fleeger serves as the company’s President and CEO. Gulf Coast Western is an energy company that focuses on domestic oil and gas reserves in the Gulf Coast region of the United States. Founded in 1970, the company is headquartered in Dallas, Texas.