The oil and gas industry has undergone significant changes over the last several decades. Companies face rapidly evolving and uncertain times, operating with new regulations and unforeseen market conditions. Upstream, midstream and downstream activities, even in vertically integrated companies, need sound relationships and an ability to effectively collaborate to overcome business challenges. In the last several years, a number of these marketplace forces have led to increased collaboration and more partnerships within the industry. This era – an era of collaboration – presents industry stakeholders with both opportunities and risks.