The American Association of Professional Landmen (AAPL) today announced that, due to falling oil and gas prices, its NAPE Pittsburgh event, scheduled for April 15 and 16, 2015, was being cancelled. The AAPL further stated that the future of NAPE Pittsburgh would be decided at a later date.
Though some in the industry had questioned whether the AAPL was killing the golden goose by having too many NAPE events, this cancellation is concrete evidence of how serious the industry is taking the downturn in commodity prices. It further is evidence of the strict monetary policies put in place by many in the industry; discretionary spending is being severely restricted.
Finally, I think it is safe to say that the cancellation of NAPE Pittsburgh, reflects the industries collective view that the lower prices, and the varied and multiple affects flowing therefrom, are not short-term issues, but factors to be dealt with for a while to come.
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