geoLOGIC Technical Showcase
On 25 October 2018, geoLOGIC held its second annual Technical Showcase, a customer appreciation and thought leadership event, at ConocoPhillips Auditorium at Gulf Canada Square, Calgary, Alberta Canada. Registered guests enjoyed breakfast and lunch while networking with colleagues and friends, building relationships with new industry professionals, engaging in a debate about the hottest topics facing our industry today, and learning more about the latest innovations introduced by geoLOGIC and some of its partners.
With the theme Evolve Always, the event included a panel of key experts from the oil and gas and finance industries. The discussion included effective strategies they implemented to deal with the digital evolution of the oil and gas industry. Please see the additional panel questions and answers.
The event also included technical presentations focusing on geoLOGIC’s newest innovations, including products with our partners BetaZiTM and Ruths.ai. After the technical presentations, industry professionals stopped by our “Ask the Experts” and “Partner” breakout rooms, and visited the demo stations buzzing with activity to get answers to their more complex data and analytics questions. Download the presentations and check out some photos of the event.
If any of our products (data sets, geoSCOUT, gDC, basinINTEL) peaked your interest, please do not hesitate to contact our sales team, 403-262-1992.They will be more than happy to assist you with your enquiry and/or arrange a personalized demo session for you and your team.
geoLOGIC Technical Showcase – Panelist Questions and Answers
Our panelist were happy to provide answers to questions asked at the end of the panel session during the the geoLOGIC Technical Showcase.
- Moderator: Kirk Graham, Sound QI Solutions Ltd.
- Panelist: Ross Ballendine, Director, Information Technology, Calfrac Well Service
- Panelist: Judy Fairburn,
- Past Chair at Alberta Innovates, Board Member, Calgary Economic Development,
- Public Policy Forum and Sustainable Development Technology Canada
- Panelist: Stephanie Prior, Senior Vice President and Partner, EY
- Panelist: Keith Steeves, Chief Financial Officer, NAL Resources Ltd.
How can data help with public perception of our industry?
Answer: My belief is that data will help with public perception, but it will not change public perception. You must change people’s emotional views. I read an article that other day and I believe it to be true. People think with their heart or their fundamental beliefs first. In order to change public perception, you must deal first with their fundamental beliefs and the emotional component of the discussion. You can give facts all day long and as professionals that deal with numbers we believe that this should convince people. Unfortunately, it has been my experience it does not. People start with their foundational beliefs and even when showing them facts it does not mean you will convert them.
Is IT now becoming a profit center?
Answer: I don’t think it matters if IT is a profit center or a cost center. This is really a question of how your company sees it. My personal bias would be that IT remains in service of the business which is the discovery, exploitation, and production of Oil and Gas. I would say however that IT can take a leadership role in the following areas: Driving an architecture that allows for the efficient collection and organization of data through efficient process that cross functional boundaries. I would also say that IT can provide extraordinary services regarding providing data scientists that can help the company, functional groups and individuals ingest all kinds of data, analyze this data and the relationships with other data in ways that are more effective, faster and can provide better answers without bias. I believe this is an exciting time to be in oil and gas because of the power and accessibility of data, new tools and analytical techniques that will make all professionals much more valuable.
How do you quantify the ROI on a digital project?
Answer: ROI is a financial term that is calculated in the same way whether you are calculating an oil well or you are calculating the value that you receive from a new IT project. Each project generally has the following key components: Initial capital that is required to build the opportunity, Costs that will be ongoing related to the project, increased revenue from the project or reduced costs associated with the project. I will give the following example at NAL.
Operate by Exception: This project uses data collected by digital devices in the field to identify and troubleshoot conditions in the field that deviate from the norm. The following are some of the devices we have installed:
- Pump-off Controllers
- Vibration Sensors
* Our goal was to eliminate site visits while focusing our staff on well optimization. We measured results on 833 wells or about 1/3 of operated wells. The following were the results we achieved:
- Eliminated a significant portion of routine well visits
- Repurposes driving time for value adding activities
- Increases production through well optimization
- Increases safety
* Measurable outcomes:
- 63% fewer site visits
- Work capacity gain of about 12-16 FTE
- Well to operator ratio increased by 21%
- Total $3.5 Million in annual savings or $22 Million in NPV
Many companies are developing their frac operations with more/live data availability (ie. preventative frac pump maintenance). How do you remain competitive as many companies are developing these services simultaneously?
Answer: Great question. Calfrac has always been, and continues to be, a leader in the data we collect and provide to our customers. The transformation that I profiled in my presentation is more around the technology platform that we are provisioning underneath that data, which will create transformative change for us by adding greater degrees of automation and therefore a higher velocity of insights. It goes without saying that data is at the heart of transformational initiatives that are underway with many of our competitors. It is important to keep in mind, however, that data is a raw input, not a competitive advantage, meaning its value lies in its ‘potential’ (the ‘digital’ part of ‘digital transformation’). Our transformation initiatives are intended to remove the technical barriers and decrease the time-to-potential. From there, it will be through our culture and our people (the ‘transformation’ part of ‘digital transformation’), and the quality of decisions we make from the insights we gain, that we realize on that potential. Thanks for the follow up, and for the opportunity to participate the Technical Showcase.
Fear and resistance to change both from the management and operations is huge. What advice would you have to aid in change management?
Answer: I have been dealing with improving profitability through material change for many years. This is fundamentally the single most difficult question to resolve. Here are the things we believe are important to drive change:
A. A burning platform that everyone sees and buys into helps people realize they need to change.
B. Leadership support is the second most important item.
C. A vision of the future and what you are trying to achieve.
D. Collaboration with all levels so people can be involved in the change.
E. Champions that are involved in making this happen.
F. Small wins to gain momentum.
G. Support from professionals that can facilitate this as a full-time job.
H. A commitment to stay on message and not to decommit from the goal.
I. Change incentive to support the change.
J. Measure progress.
K. Fail quickly / Agile management.
How does the local oil and gas plan to compete for the talent? Wages south of border and across industries within Canada are very lucrative and more than competitive with your typical o&g eng/geo $.
Answer: My view is that Calgary does lack the skills associated with Data Science and we will need to recruit professionals to Calgary, so we can be successful. I would also agree that there are many industries that are looking for this talent and our educational institutions are still catching up. I have recently looked at this position and we at NAL are currently looking to hire this type of position. The Salary based on reviewing competitive data does not tell us that the cost is excessive. The bigger issue is getting people to move to Calgary or if coming from the US to Canada. We talked about this among the panel members. Calgary has lots of data, but we are not viewed as leading in Data Science nor in making this material change to a key focus area. I believe our bigger issue is dealing with the resistance to change that is embedded in the industry.
When implementing your initiatives, how do you find the right team to work on then and move them forward? Do you bring in external people or task internal staff with the task?
Answer: Our organization starts with developing ideas to pursue. This took time for us to get people to look for ideas. Now we are getting lots of ideas and the industry is sending ideas to us every day. We then look to find a champion that will take on this project while continuing to work in their area. They generally need to take this on as a project. Once we have the idea, a vendor that is selling the idea, and a champion we look for what I believe your question is driving at. We need project support that will help the champion and the team work through the project. These people are focused on driving change, a change strategy and an approach, and tools that will help people try things that they have not done before. At NAL we hired a firm called Clearpath and we also commissioned an internal group called our Center of Excellence. Between these two organizations they allowed us to take the necessary steps to try things, measure them appropriately and deliver outstanding results.
Is data very relevant to public perception of our industry?
Answer: See answer to the 1st question.
geoLOGIC Technical Showcase – Technical Presentations
NAL Resources Ltd.
Digital Transformation at NAL
geoLOGIC basinINTEL – powered by BetaZiTM
geoLOGIC systems ltd.
geoSCOUT Drilling Module Overview
geoLOGIC systems ltd.
geoSCOUT Well Profile Viewer and Well Planning Overview
Well Spacing, Declines and More: Making the most of your geoLOGIC data with Ruths.ai
geoLOGIC systems ltd.
New and Enhanced Workflows in geoSCOUT
All Technical Showcase presentations combined, geoLOGIC systems ltd.
Evolve Always - All Technical Presentations
Download All Presentations Combined
geoLOGIC Technical Showcase – Photo Gallery
Check out some great photos of oil and gas and finance industry professionals presenting, networking, and getting the latest news about geoLOGIC’s innovations. Click a photo to view it or download it in the popup viewer.
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