Dore Law - December 2019

DELEGATE TO ELEVATE

Poor delegation is the Achilles’ heel of most leaders, who often confuse being “involved” with being “essential.” To determine if you’re holding on to work you should delegate out, the Harvard Business Review (HBR) recommends asking this simple question: “If you had to take an unexpected week off work, would your initiatives and priorities advance in your absence?” If your answer is no or you aren’t sure, then you’re probably too involved. No one person should be the cog that keeps everything in motion, no matter their position in the company. Luckily, HBR has created an audit using the following six T’s to identify which tasks can be delegated. TINY: Small tasks that stack up can undermine the flow of your work. Registering for a conference, putting it on the calendar, and booking the flight are all small tasks someone else can handle. TEDIOUS: These tasks are straightforward but not the best use of your time. Someone else can input lists into spreadsheets or update key performance indicators for a presentation. TIME-CONSUMING: These important, complex tasks don’t require you to do the first 80% of the work. Identify what they are, pass them to someone else, and step in for the final 20% to give approval.

TEACHABLE: Is there a task only you know how to do? If so, teach someone else to do it, and step in for the last quality check when it’s done. TERRIBLE AT: It’s okay to be bad at some things. Great leaders know when to pass tasks off to someone who is more skilled than they are. The task will get done faster and at a much higher quality. TIME-SENSITIVE: These tasks need to get done right now but are competing with tasks of a higher priority. Just because it has to get done immediately doesn’t mean you have to be the one to do it. Sure, some tasks only you can accomplish, but these are extremely rare. As the Virgin Group founder Richard Branson warns, needlessly resisting delegation is the path to disaster. “You need to learn to delegate so that you can focus on the big picture,” Branson says. “It’s vital to the success of your business that you learn to hand off those things that you aren’t able to do well.”

OIL & GAS BANKRUPTCY TRACKER 2019

(limited to Debtor Liabilities > $10MM)

FILING DATE DEBTOR NAME

COURT

CHAPTER REPORTED LIABILITIES

8/27/2019

Epic

Texas-Southern

11

$100 million to $500 million

9/2/2019

PetroShare

Colorado

11

$50 million to $100 million

9/11/2019

Columbus Oil & Gas

Michigan-Eastern

11

$50 million to $100 million

9/11/2019

Alta Mesa Holdings

Texas-Southern

11

$1 billion to $10 billion

9/15/2019

Sheridan Holding

Texas-Southern

11

$1 billion to $10 billion

10/3/2019

EP Energy

Texas-Southern

11

$1 billion to $10 billion

10/18/2019

Longhorn Service

Oklahoma-Western

11

$10 million to $50 million

10/22/2019

MTE Holdings/Partners

Delaware

11

$10 million to $50 million

10/23/2019

Olam Energy

Delaware

11

$10 million to $50 million

10/29/2019

American Nat. Gas/Mine/Murray Equip.

Ohio-Southern

11

$1 billion to $10 billion

10/29/2019

C-Mar America

Texas-Southern

7

$10 million to $50 million

10/31/2019

Moriah Power River

Wyoming

11

$100 million to $500 million

A full list of 2019 oil & gas bankruptcies, including expanded information, is available upon request to the Doré Law Group P.C. The full list has 265 business entities as of Nov. 1, 2019.

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