For 17 years, Brian Sullivan worked as a mortgage lender in south central Pennsylvania. Lucky enough to retire at the age of 40, he and his wife, Gabriella, moved to Colorado in 2003. After eleven years in Colorado, Sullivan moved to Dallas, where he opened his current business, the Precision Global Corporation.

Since opening last year, Precision Global has implemented the drilling strategy Sullivan developed in Colorado: rather than drilling on an open field, Precision Global adds wells to already existing oil fields. This minimizes both risk for failure and environmental impact.

However, Brian Sullivan and Precision Global today must deal with the challenge of declining oil prices. As the price per barrel of oil continues to drop, with many analysts expecting it to fall below $50 a barrel this year, it seems an arduous task to take on new drilling problems amidst the drop in sales.

Texas is currently the largest oil producer in the United States, producing more than 3 million barrels of oil each day, a tremendously large margin over North Dakota’s second place production of 1.2 million barrels daily. Texas also has the most jobs in oil drilling, employing over 100,000 people and representing some 14% of the workforce. As oil prices continue to sink, more and more corporations are being forced to lay off employees and cease rig operations.

In the light of these challenges, Brian Sullivan Colorado remains optimistic in his business endeavors. He believes that as the price of oil drops, consumers will be able to spend the money they saved in other areas of the economy. As the money saved is re-introduced into the U.S. economy, it will allow for oil prices to balance out again.

This is a belief supported by Michael Seman, a senior research associate at the University of Northern Texas Center for Economic Development and Research. “This is just a long series of ups and downs,” Seman notes, going on to suggest that historically, the U.S. has experienced these waves in oil pricing.

While all oil and gas businesses are affected by this decline in oil prices, Sullivan is confident that they will eventually balance out. It may be a difficult process, but Sullivan is no stranger to a challenge; in 2013, Sullivan discovered a former business partner embezzled investor funds. Brian Sullivan Colorado fulfilled his commitment by completing the 5-well drilling project he had underway at the time at no additional cost to his investors. This is just another bridge he had to cross, and his success is merely transpontine.

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