On March 28, the PESA Emerging Leaders Committee hosted its bimonthly leadership forum with PESA Advisory Board Member Pat Bond, Co-CEO, Gravity Oilfield Services in Midland. Leadership forums allow member company high performers to interact with industry executives through open dialogue structured around a targeted theme. In this forum, Bond discussed merging cultures while maintaining both functional and operational excellence.
Bond shared his oilfield industry service throughout the years, focusing on his experience going through many mergers and acquisitions. Bond said that in the past, there was little emphasis on developing culture and integrating the companies. Today, however, the top priorities during an M&A are developing culture, employee integration and engagement.
“During a company merger, embracing change, blending cultures and consistent positive communication is the key to success,” Bond said. “Change the conversation from negative to positive. It’s easy to get caught up in the negative, and it is counterproductive. During the transition period, those that embrace change and are part of the solution will succeed.”
Bond also addressed the importance of getting involved to build community internally and externally. Networking through trade associations, such as PESA or non-profits, to engage in the community can bring new ideas and connections that are invaluable.
Bond explained that leading companies identify and agree on best practices, and then optimize those values to maintain operational and functional excellence. By deciding what’s best for the organization, with clear communication, companies can then move forward.