Category Archives: Industry News

Cautious Optimism in the Oil and Gas Industry

Attendance at the 2017 Offshore Technology Conference was down from previous years. Deep-water drillers, who have not yet felt the budding onshore recovery, stayed away from the industry’s largest convention.  Only 65,000 people walked the exhibit halls at NRG Park in Texas compared to the 108,000 individuals who attended in 2014 when oil prices passed $100 a barrel.

After suffering through the worst downturn in more than three decades, the oil and gas industry is embarking on “a new cycle of expansion” as companies send dozens of new rigs into Texas oil fields, drill hundreds more wells, and hire thousands of workers.

Photo from Worldoil.com

Photo from Worldoil.com

Ryan Zinke, Secretary of Interior, was the keynote speaker for Offshore Energy Policies: Harnessing the Full Potential of America’s Offshore at OTC. During the conference, Zinke signed two secretarial orders aimed at unleashing America’s offshore energy potential and growing the U.S. economy.

The first order implements President Trump’s Executive Order signed April 28th and directs the Bureau of Ocean Energy Management (BOEM) to develop a new five-year plan for oil and gas exploration in offshore waters and reconsider a number of regulations governing those activities.

The second order establishes a new position – Counselor to the Secretary for Energy Policy – to coordinate the Interior Department’s energy portfolio that spans nine of the Department’s ten bureaus.

“Today’s orders will help cement our Nation’s position as a global energy leader and foster energy independence and security for the benefit of the American people while ensuring that this development is safe and environmentally responsible,” Secretary Zinke told industry representatives. “We are committed to fuller cooperation with the offshore industry and coastal communities to expand responsible energy development while holding industry accountable to strict safety and environmental protections.”

The general attitude about the oil and gas economy thus far is cautious optimism. ”2017 is going to be a year of recovery and expansion in the Texas statewide oil and gas exploration and production economy,” says Karr Ingram, economist.

2016 Industry and Economic Outlook Summary at a Glance

worldgdp usgdp USIP

This summer industry experts gathered at NFPA’s 2016 Industry and Economic Outlook Conference in Wheeling, Illinois to share information on industry economics, market forecasts and technology breakthroughs surrounding the fluid power supply chain.

Studies showed that in 2015 the U.S. was responsible for 24.5% of the world’s Gross Domestic Product (GDP) up from 22.5% in 2014. Of which, manufacturing comprised 73%, mining 17% and electricity generation 10% with manufacturing and mining on the rise.

After four years of global growth, 2016 reports a much lower growth than initially forecasted. One of the main reasons is the decline in oil and gas production due to renewable energy use coupled with over-production from previous years. Other causes include:

  • political unrest (Grexit, Brexit, U.S. presidential election)
  • volatile financial markets and the risk of recession
  • lack of business investment in new equipment
  • deceleration of growth in China and other emerging national economies

While the economic growth forecast for 2016 looks dismal,  better days are expected in 2017 according to industry experts. Some analysts attribute this to:

  • consumers being in better financial condition
  • favorable interest rates
  • decreasing unemployment and increasing wages
  • banks are lending
  • retail sales are at a record high
  • non-residential construction is improving
  • commodity prices are experiencing some upside pressure

A cursory glance into late 2018 shows a mild recession continuing through 2019.

What should you be doing for the remainder of 2016?

The advice of one industry expert is to:

  • budget for continued economic growth driven by the consumer
  • invest in customer market research to reduce price sensitivity
  • make sure your training and retention programs are top notch
  • make marketing and advertising spending increasingly effective
  • drive efficiencies with technology
  • hire sales people and leaders
  • lock in costs in 2016
  • expand credit offerings to garner market share
  • plan for higher wages and higher energy costs

In a nutshell, the economic overview for 2016 is much worse than expected. The GDP is the slowest it’s been since 2009 at 2.0% and the U.S. Industrial Production (IP) is at its weakest, -0.9%, since the financial crisis. Fortunately, 2017 is looking up.

Detailed  information about the economic outlook and copies of speakers presentations can be found by visiting http://nfpahub.com/events/conferences/the-ieoc/.

Daman’s Creative Team Featured in Target Magazine

Daman’s creative team was recently featured in the Summer 2016 edition of “Target Magazine”. The article “A Creative Team Approach” relates why and how the creative team was formed. It goes on to illustrate the way new product development is initiated and how these ideas progress through a 9-step pipeline where they will either continue on or be scrapped. Interestingly, only 20% of the ideas generated by the creative team make it through the entire process.  >>Read Article

Daman Leadership to Speak at AME in Cincinnati: Metrics Can Be Lean Too

When “What Gets Measured Gets Done” Collides with Lean Culture

In the Metrics Can Be Lean Too presentation, Larry Davis and Dave Mischler will challenge AME participants about rethinking conventional business practices and exploring possibilities for continuous improvement in a culture of trust.  Learn more here.

AMEGraphicThe Association of Manufacturing Excellence (AME) 2015 International Conference takes place October 19-23. Larry and Dave’s presentation will take place 9:30-10:30AM in Room 206/207 on the 2nd floor.  View more details about this session and be sure to register now to join industry leaders at the largest lean conference in the world.

The conference comprises of nine keynote speakers, 54 presentations40 tours18 special interest sessions and 40 workshops provide you with a transformational learning experience like no other. Learning from the insights of world-class, highly successful practitioners who have been there and done that, you are provided with a trusted source of knowledge that you can rely on to confidently make the changes needed to accelerate growth. The leaner processes are, and the more engaged people are, the more productive you become and the greater your bottom-line success will be.  

LearnMore2

 

 

 

DamanWorks Featured by CADENAS PARTsolutions

CINCINNATI, OH (PRWEB) MAY 07, 2015

Daman Products, a leading designer and manufacturer of hydraulic valve manifolds and related products, announces the launch of their all new online configurator built by CADENAS PARTsolutions. The self-serve interface enables Daman customers to configure the product they need, and instantly generate a 3D CAD model for use within their design. This on-demand approach is a competitive advantage for Daman Products, who is constantly improving customer service with an industry leading digital customer experience.

Daman designs and builds Standard and Custom Hydraulic Manifold products for industrial and mobile applications. With the addition of the online configurator, users can configure over a million different variations of their Standard Products. Once the part is configured, users can preview the part and download the native 3D part in more than 150 formats.

“Our turnaround time was pretty fast,” says Dave Jaeckel, IT manager at Daman Products. “Customers would call us with their specs and we would deliver a STEP model in less than 24 hours. We are always looking to improve though, and instant access to a native CAD model is both an improvement in speed as well as quality.”

Daman’s products are marketed through a distribution network to original equipment manufacturers in the machine tool, construction, farming, mining, energy, agricultural, ship building and entertainment industries, as well as many others.

“We were also looking to improve our service to our very broad distributor network,“ adds Matt Giloth, Distributor Services Manager at Daman Products. “With such a wide-ranging distributor network we knew we had to use a solution which provided data in a broad selection of CAD outputs. We saw the CADENAS PARTsolutions configurator in action and knew it was what we needed to get all of our distributors excited, which would lead to our products being spec’d into many more projects.”

In addition to part configurator capability, where engineers can generate a 3D part download from a list of options, CADENAS PARTsolutions also built a part number lookup feature, which enables users to instantly generate a model from a Daman part number.

“With the Daman Products part number lookup designers have another powerful way to get the 3D CAD model they need,” says Rob Zesch President and COO of CADENAS PARTsolutions. “Say they have an existing part already on another project, they don’t need to guess every option that was selected. They can key the part number into the online configurator and the preview is instantly generated. From there they can modify the part or download the native model for their design. This is just another example of Daman leading the pack by being the easiest to do business with.”

View release here:  http://www.prweb.com/releases/2015/04/prweb12679685.htm

About Daman Products

Daman Products, a Midwest-based fluid power manufacturer, has concentrated on building excellence for over three decades. Daman Products designs and manufactures hydraulic valve manifolds and related products. Daman’s products are marketed through a distribution network to original equipment manufacturers in the machine tool, construction, farming, mining, energy, agricultural, ship building and entertainment industries. For more information visit http://www.daman.com

About CADENAS PARTsolutions

CADENAS PARTsolutions is a leading provider of next generation 3D part catalog management and sales configuration solutions. For large manufacturers, CADENAS PARTsolutions provides centralized 3D parts libraries making it easy for global design teams to find, reuse, and control standard and proprietary parts. For component manufacturers, CADENAS PARTsolutions provides 3D product catalogs with digital CAD download technology, helping businesses increase sales lead generation and to ensure that components get “designed in” to OEM products.http://www.partsolutions.com
###

Media Inquiries

CADENAS PARTsolutions
Adam Beck – Marketing Manager
400 Techne Center Dr., Ste. 301
Milford, OH 45150 USA
Phone: (513) 453-0453
Fax:        (513) 453-0460
adam.beck(AT)partsolutions.com
http://www.partsolutions.com
@partsolutions