THE LEADERSHIP TEAM
EVP of Business Development and Sales
Director of Sales at IOT-eq
EVP of Technology & Engineering
VP of Field Services
At the beginning of the 21st century, North America discovered a renaissance within its oil and gas market with the birth of the “Shale Play.” The application of directional drilling technologies to drill horizontal wells in the strategically targeted geological formation windows along with the application of hydraulic fracturing utilizing specialty chemicals, sand, and water provided access to an untapped resource of oil and gas production that was previously thought inaccessible. Much of the technology utilized since 2007 in hydraulic fracturing had been used for decades in conventional applications and was not optimized for unconventional applications mainly due to the high margins realized from oil and gas companies at +$90 a barrel of oil and +$4.00 per unit of natural gas.
The current economy within the industry will require all businesses to optimize technology that will help reduce their overhead costs for the foreseeable future. Many experts point out that data will drive the optimization of operations forward, which will mark the beginning of “Shale 2.0.”
Within every sector of the U.S. economy, the availability and collection of data from machines, services, and business operations are growing at an astonishing rate today.
Much of that data remains disparate and disordered. The utilization of significant data analytics offers many industries the potential for unprecedented insight, efficiency, and economic value. America and the Shale industry are like many other large and complex businesses in the scale and diversity of its operations. What distinguishes Shale from other firms is its unique combination of youth, diversity, the range of data associated with its operations, and the variety of environments in which operations occur.