72. SOPs, KPIs, and People Power: Insights from Delta Oil and Gas with Greg Thomas

The Ops Experts Club Podcast

SUMMARY:

In this episode, Aaron and Terryn dive into the fascinating world of oil and gas operations with special guest Greg Thomas, President of Delta Oil and Gas. Broadcasting from Fort Worth, Texas. Greg shares his journey from geology and finance to leading a thriving company with field offices in Breckenridge, Texas, and a geologic office in Boulder, Colorado. With a unique perspective on operational excellence, Greg reveals how his team has achieved remarkable 98% efficiency through the implementation of Standard Operating Procedures (SOPs) and Key Performance Indicators (KPIs), transforming the company over the past five years. The conversation explores the universal truths of operations across industries, emphasizing the critical role of people in driving success. Greg discusses his approach to retaining talent by fostering loyalty through innovative incentives, such as allowing technical team members to invest in projects, aligning their success with the company’s growth. Also discussed is the importance of institutional knowledge, the value of long-term employees, and strategies for keeping retirees engaged through consulting roles. Along the way, they touch on the challenges of managing visionary expectations, the pitfalls of micromanagement, and the delicate balance of performance-based pay structures. Minute by Minute:

0:00 Introduction

2:26 Let’s meet Greg Thomas

5:29 Layoffs during the rise and fall of oil prices?

8:09 Managing people and projects is the same

14:25 Performance pay structure based on KPIs

18:51 How can we all win

20:13 My team all wants to stay