Diversity is way to survival

From three-dimensional dinosaurs to wind farms, participants in the Permian Basin International Oil Show were finding things to rely on other than petroleum.

"It's kind of interesting because we sense a little bit of a slowdown," said Robyn Nelson, project manager for Tierra, a New Mexico land services company. "We've had a number of people come by and ask for jobs. We've had some people fearful of layoffs."

While Tierra came to the Oil Show because it helps negotiate land sales related to natural gas pipelines, many people were interested in the company because it does the same thing for wind farms, Nelson said.

"We have a broader market," she said.

Nelson expects oil companies to continue to move into alternative energy, the way BP has done with wind power and ExxonMobil has began work in lithium ion batteries for hybrid vehicles.

‘I think they're going to have to with the price of oil dropping," she said. "They know that."

Tim Chase of Xstream Waterjet makes parts for drilling rigs like gears and valve spacers with a 60,000 pounds-per-square-inch high-pressure cutter.

"Anything and everything with the oilfield," he said.

So far, Chase said he's seen no drop in business. Along with his two friends, he's putting in 18 to 20 hour days. But just in case the oil business runs dry long-term, he makes money with artwork made from the same waterjet. His projects include the four-and-a-half foot dinosaur and a metal bumblebee.

"I can fall back on art and stuff like that," Chase said.

Still others feel their businesses can make it through down times.

Roger Mousley of Sandvik in Draper, Utah, was at the Oil Show to evaluate the market for his company. While he said 2009 looks good for down hole drilling in specific geographic areas, which is what he was evaluating, he's not so sure about the rest of the industry.

"It looks like the expectations for the market are going to be down (an additional) 20 to 30 percent next year," he said.