Your Main Challenges:
- Breaking Out On Your Own
- Staying Up to Date
- Building Your Network
- Establishing Your Credibility
- Finding Clients
Becoming an independent landman is an exciting career choice, but it also brings with it a unique set of challenges. Here are five of the biggest hurdles you’ll need to tackle as you establish your own business.
1. Breaking Out on Your Own
Breaking out on your own can be a tough choice to make. Brokerages exist for a reason, because work in the landman industry isn’t easy to do as a sole individual. They often try to keep landmen separate from each other so that they can stay focused on their own tasks. But if you’re offered the chance to try something new, go for it! Even if it doesn’t work out, you’ll learn something new about the industry and yourself. In the past, brokerages offered more security and consistency with jobs, but those days are fading away. With the Shale Boom, E&P companies discovered that they could do the same amount of work with fewer landmen. If you’re content with where you’re at, you might want to stay there. But if you’re ready to take the plunge and do it on your own, keep reading!
2. Staying Up to Date
As an independent landman, staying up-to-date with oil and gas industry laws and regulations can be overwhelming. It’s worth talking to a lawyer or other professional to make sure you understand the requirements. You should also have an understanding of how laws have changed – for example, the differences between intestate succession in Texas before and after September 1, 1993 (see the infographic from Old Republic Title). Courts are always hearing cases that could affect specific situations in the industry, so it’s important to keep up with what’s happening so you can stay ahead of the game. Knowing the different laws and regulations in other states can also be a great way to hook a potential new client if their operations are not in your home state.
3. Building Your Network
If you want to succeed as an independent landman, it’s essential to grow your network of contacts. Consider joining professional organizations, attending industry events and seminars, and connecting with other landmen when you can. We live in a digital world, so having a social media presence can be a great way to build your network and get the latest news. Don’t forget to stay in touch with your contacts! Every week, take the time to reach out to people you haven’t spoken to recently and catch up. This will help you cultivate relationships and expand your client base. You never know what information you might get from making a phonecall or taking someone to lunch.
4. Establishing Your Credibility
As an independent landman, you’ll need to demonstrate to potential clients that you have the knowledge and experience to get the job done. You can do this by highlighting any specialized training or certifications you have, as well as any previous experience you have in the industry. Having a couple of current or former clients to provide as references is a great way to show potential clients that you have a good track record of delivering results. Getting involved in other organizations that are not specific to the oil and gas industry can help you establish credibility and also expand your networking at the same time.
5. Finding Clients
Finding Clients: If you’re an independent landman, it’s tough to balance getting work done for existing clients and finding new clients and projects. You don’t want to get stuck in a temporary project and miss out on opportunities, but at the same time, you don’t want to get too far behind on your current work. It’s hard to know where to focus your energy, but having steady work from a client is the key to success. That way, you have a consistent job to rely on while you look for bigger and better projects. Mastering that balance is no easy feat, but it’s one of the most important things you can do.
Becoming an independent landman is a rewarding and challenging endeavor. But with the right knowledge and preparation, you can set yourself up for success. Good luck!
This is part of the independent Landman Handbook
Make sure to check out the other posts in this series
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The Broken System – Time to Burn it Down
The other day when I was contemplating the idea of a broken…
How to Find Your Voice in a Broken System
Make sure you check out some of our most recent posts below…
The Circle of Landman Life – How Landmen Are Made
This is a story about how landmen are made. Back when I…
The Value of a Professional Image
Everybody’s Doing It When the Shale Boom started, most landmen were required…
Finding the Words
We’re (almost) a week into August, and I’ve posted something every day…
Developing Curiosity – Thinking Like a Landman Can Change Your Life
One of the most important aspects of being a landman (an actual…
