Criminals will steal whatever they can get their hands on—and they can get their hands on a lot of expensive equipment in the oilfield. From $100 tools to $10,000 tongs, it all adds up to a big problem for energy sector organizations.

Tip of the iceberg
In some counties, Sheriffs have reported hundreds of incidents amounting to tens of millions of dollars in oilfield thefts. Nationally it approaches $1 billion, although there aren’t exact figures available. But, like all crimes, much of the theft committed in the oilfield simply isn’t reported to law enforcement. So the facts and figures we do have are just the tip of the iceberg.

More at stake than just money
Of course the huge amounts of capital lost to theft is itself important. But increasingly laptops, and the proprietary data they hold, are being stolen. If the data isn’t backed-up, then its loss could be incalculable. If critical data ends up in competitors’ hands, its loss could be devastating.

We’re all at risk
But the sheer scope of money being churned around in the black market of stolen oilfield tools and hardware creates funding opportunities for organized crime and narcoterrorists. Worse still, it exposes weaknesses in oilfield security that could be exploited by those seeking to harm the United States by striking at our energy infrastructure.

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