This Too Shall Pass
The COVID-19 pandemic has impacted our lives in ways we probably didn't image just a few weeks ago. With so many plans cancelled and our normal routines disrupted, I think everyone is feeling a bit unmoored and somewhat in limbo, to say the least. I've been thinking about how we can manage through the crisis, and thought I would share a few of the things I'm trying to do. Maybe there are some ideas here that will help you make the best of a tough situation.
Think Long-Term - It's starting to look like the impacts of the virus will be more significant and last longer than we expected. Many experts are talking in terms of months. Stop thinking about this as a short-term problem and it will be easier to adapt to the current reality.
Control the Controllables - It's in our nature to take action in a crisis, but this one is unique. Spending most of our time in our homes makes us feel like we're doing nothing, even when we're doing the thing we should. Since it seems like so many things are outside of our control, it's important to recognize the things we can control and focus on them.
Build New Routines - It's the routines we build our lives around that give us stability and a sense of belonging. With our normal routines disrupted, it's important that we build new ones to offset the disorientation we're experiencing.
Learn Something New - Using our time indoors to learn a new skill, develop a new hobby or read up on a subject of interest will help pass the time and enrich your life.
Do That Thing You've Been Putting Off - While we're hunkered down, it's a good time to address that project around the house that you've been putting off. Tackling small tasks is a good way to gain control of your situation and create a feeling of accomplishment.
Help Where You Can - The limitations on our movement and crowd size are having a big impact on a lot of small businesses and low wage workers. If you have domestic help, continue to pay them if you can. Order delivery or curbside occasionally from a local business. Putting money directly in peoples' pockets, even a small amount, can be a big help.
Limit Your Media Exposure - We are in a fast-moving situation and it's important to stay informed. Nevertheless, the news and guidance doesn't change by the minute. Know when you have enough information to plan and act, and avoid constant exposure to news and social media.
Stay Positive and Be Friendly - Everyone is under a lot of stress, and some are in a very difficult situation. Sharing a smile, saying hello or offering a kind word to a stranger may boost their spirits and help you feel better, too. It's the Texas way!
This article was published in the March 17, 2020 issue of the RED Weekly E&P Update Newsletter
About the Author:
Steve Hendrickson is the President of Ralph E. Davis Associates, an Opportune LLP company. Steve has over 30 years of professional leadership experience in the energy industry with a proven track record of adding value through acquisitions, development and operations. In addition, Steve possesses extensive knowledge of petroleum economics, energy finance, reserves reporting and data management, and has deep expertise in reservoir engineering, production engineering and technical evaluations. Steve is a licensed professional engineer in the state of Texas, and holds an M.S. in Finance from the University of Houston and a B.S. in Chemical Engineering from The University of Texas at Austin. He currently serves as a board member of the Society of Petroleum Evaluation Engineers and is a registered FINRA representative.