The March issue of the Oil & Gas Financial Journal contains an exciting article regarding the second wave of innovation in the oil patch.
EXCITING TIMES IN OILFIELD TECHNOLOGY
Written by James Constas, Exciting Times in Oilfield Technology, captures the thoughts of several CEOs and founders of companies with disruptive technology platforms. These solutions are greatly impacting the way decisions are made.
Alan Lindsey of PetroDE, Brett Wisner of Wizdom Land Solutions, Chris Neale of FractureID and Joshua Churlik of Well Data Labs talk about the genesis of their companies and how their solutions can help their customers make better and faster decisions.
An excerpt from the article emphasizes what we at PetroDE adhere to: “If the first wave of innovation was based on improving “dumb iron,” then this second wave of innovation is about using smart information technology to do things faster, better, and more productively. In the field, operators are improving recoveries by using technology-based solutions to drill more accurately and optimize completions. At headquarters, business development teams are leveraging cloud-based solutions to identify and act on new prospects in days, rather than weeks or months.”
A quote from PetroDE’s Alan Lindsey: “Given the amazing breakthroughs in mapping and cloud technology, we asked why was it easier to use a cell phone to find a place for coffee than find a particular oil well and see it on a map? Why could we map a route to someone’s office but not easily map statistics on production? We knew there had to be a better way for operators to view and analyze geospatial data.”
To view the article in its entirety, click here.