A woman who has built a successful oil consulting firm in Tioga says she’s taking steps to maintain business in the current slowdown in the oil economy in western North Dakota.
Kathleen Neset opened her company that provides engineering and research to oil companies in 1980.
She says she has reached out to her customers to find ways to continue providing services they need, even as their incomes are dropping.
(Kathleen Neset, Neset Consulting) “Every contract is being renegotiated right now and companies that have not requested that, I have actually proactively offered to renegotiate contracts just knowing in this day and this market that’s the fair thing to do.”
As for the oil price drop, Neset says it’s an international political situation – not true supply and demand.
And that has her optimistic for a turnaround before too long.
(Kathleen Neset, Neset Consulting) “I’m a believer in the free market system and supply and demand will allow for this to even out in time. I also think the world is so chaotic – just look at the Mideast and that area of the world – but worldwide things are very chaotic and I think that some event will happen, unfortunately, and I think that the free market system will prevail and markets will come back to a fair and marketable position.”
Neset addressed Minot’s Kiwanis Club today.