Given the oil and gas industry’s inherent vulnerability and volatilities, the key to survival is strategy.
Running Foxes was strategically built to be more cost efficient, more responsive, and more resourceful than its competitors by:
Diversifying employee skill sets by investing money in their training, creating a multi-functional team.
Setting sights on the low hanging, modest fruit.
Acquiring equipment capital during oil downturns.
Fostering loyalty among staff and community by generously giving back.
A LOW COST OPERATOR
Commitment to cost control has allowed RFPI to continue to expand regardless of the price environment. Driven by strategic efforts to become self-sufficient, the company took advantage of unique opportunities associated with oil busts in years past. The pursuit of a vertically integrated business model was done to offset costs inherent with exploration and drilling. The purchase of drill rigs, work over units, water trucks, and acid trucks, as well as concentrating the hunt for oil and gas in overlooked areas of proven petroleum provinces where existing infrastructure could be found made this possible. As a result, Running Foxes is able to quickly develop and market its natural gas and oil production. By cutting costs within the company by 40% Running Foxes is able to offer its partners operating costs 30% cheaper than its competitors.