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A Digital Journey: The Transformation of the Oil and Gas Industry

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It is apparent to everyone within the Industry that significant changes are underway. These changes are being driven by the need to operate more efficiently and with fewer people. Picture a general flow of getting more for less, but on steroids! A catalyst for this change has been the application of digital technology, wherein lies a new focus on data science and analytics. This is starting to result in real and significant improvements to overall business performance for some operators. While big data and analytics get most of the attention, it is only one aspect of a broader movement that is popularly referred to as the Digital Transformation and which we have categorized as the Digital Oilfield 2.0; the next phase of the Digital Transformation. One critical aspect of the Digital Transformation that typically gets overlooked is the need for effective data management across the full Well life-cycle. The result of this lack of focus on the fundamentals is that many big data and analytics projects fail to deliver fully on the promised benefits with the occasional spectacular failure.

Features and Benefits

In this book, the authors investigate and analyze the industry and technology trends that are driving the next phase of the Digital Transformation. They break this down into the component parts and present a framework for building an effective master data management platform and organization – it is not just about the technology. Combining this framework with best practices gathered over decades in the business, the authors present an approach to building out a Digital Strategy to help companies that are struggling to define their own journey towards a Digital Transformation. Industry professionals will appreciate the authors’ approach to developing a digital strategy from the bottom up, avoiding pitfalls from the tempting short cuts, to deliver data the business needs to gain a sustainable competitive advantage. Best practices are identified from an organization, process, and technology perspective, providing insight into how companies should prepare for and begin the digital journey.

About the Authors

Steve Cooper is the founder, President and CEO of EnergyIQ, a recognized leader in the oil & gas data management arena headquartered in Denver, Colorado. As part of EnergyIQ, he has developed a sophisticated Well Master Data Management platform that supports critical decision-making at many oil and gas companies today. He started EnergyIQ in early 2008 after 14 years at Petroleum Information (later IHS) with 5 years spent as the CIO. He is a past Chief Communications Officer and Board Member with the PPDM Association. Additionally, he has served on the Board of Directors for two publicly-traded gold mining companies.

Steve holds a Ph.D. in Automated Mine Surveying & Planning, Nottingham University, England and Bachelor’s Degree in Mining Engineering from Nottingham University, England. He worked in several soft and hard rock mines upon graduating, but switched to the petroleum industry shortly thereafter, taking a number of classes at the Colorado School of Mines.

Steve has been published in numerous journals and has presented at industry conferences on subjects including data quality, governance, master data management, analytics and visualization. Recently, Steve joined the Data Analytics advisory board at Denver University and is an occasional contributor to Jim’s excellent class at the Colorado School of Mines.

Jim Crompton retired from Chevron in 2013 after almost 37 years. After moving to Colorado Springs, Colorado, Jim established the Reflections Data Consulting LLC to continue his work in the area of data management and analytics for the Oil & Gas industry. He is a frequent speaker at SPE conferences on Digital/Intelligent Energy. His interests lie in the full spectrum of the information value chain from data capture, data management, data visualization, data access, modeling and analytics, simulations and serious gaming.

Jim graduated from the Colorado School of Mines (BS in Geophysical Engineering in 1974 and MS in Geophysics in 1976) before joining Chevron in Denver, Colorado. He later earned an MBA degree (1996) from Our Lady of the Lake University (San Antonio, Texas).

In acknowledgement of his contributions in applications of information technology to business problems, Jim was named a Chevron Fellow in 2002. In 2013, Jim co-authored a book, titled The Future Belongs to the Digital Engineer with Dr. Dutch Holland, focusing on the issues of the impact of emerging digital technology on oil and gas operations. Starting January, 2018, Jim teaches a graduate level course in “Petroleum Data Analytics” at the Colorado School of Mines.

Details
Type: Hardcover
Size: 8.5x11
Pages: 351
Published: January 2019
ISBN: 9781791890902

View Sample

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Description

It is apparent to everyone within the Industry that significant changes are underway. These changes are being driven by the need to operate more efficiently and with fewer people. Picture a general flow of getting more for less, but on steroids! A catalyst for this change has been the application of digital technology, wherein lies a new focus on data science and analytics. This is starting to result in real and significant improvements to overall business performance for some operators. While big data and analytics get most of the attention, it is only one aspect of a broader movement that is popularly referred to as the Digital Transformation and which we have categorized as the Digital Oilfield 2.0; the next phase of the Digital Transformation. One critical aspect of the Digital Transformation that typically gets overlooked is the need for effective data management across the full Well life-cycle. The result of this lack of focus on the fundamentals is that many big data and analytics projects fail to deliver fully on the promised benefits with the occasional spectacular failure.

Features and Benefits

In this book, the authors investigate and analyze the industry and technology trends that are driving the next phase of the Digital Transformation. They break this down into the component parts and present a framework for building an effective master data management platform and organization – it is not just about the technology. Combining this framework with best practices gathered over decades in the business, the authors present an approach to building out a Digital Strategy to help companies that are struggling to define their own journey towards a Digital Transformation. Industry professionals will appreciate the authors’ approach to developing a digital strategy from the bottom up, avoiding pitfalls from the tempting short cuts, to deliver data the business needs to gain a sustainable competitive advantage. Best practices are identified from an organization, process, and technology perspective, providing insight into how companies should prepare for and begin the digital journey.

About the Authors

Steve Cooper is the founder, President and CEO of EnergyIQ, a recognized leader in the oil & gas data management arena headquartered in Denver, Colorado. As part of EnergyIQ, he has developed a sophisticated Well Master Data Management platform that supports critical decision-making at many oil and gas companies today. He started EnergyIQ in early 2008 after 14 years at Petroleum Information (later IHS) with 5 years spent as the CIO. He is a past Chief Communications Officer and Board Member with the PPDM Association. Additionally, he has served on the Board of Directors for two publicly-traded gold mining companies.

Steve holds a Ph.D. in Automated Mine Surveying & Planning, Nottingham University, England and Bachelor’s Degree in Mining Engineering from Nottingham University, England. He worked in several soft and hard rock mines upon graduating, but switched to the petroleum industry shortly thereafter, taking a number of classes at the Colorado School of Mines.

Steve has been published in numerous journals and has presented at industry conferences on subjects including data quality, governance, master data management, analytics and visualization. Recently, Steve joined the Data Analytics advisory board at Denver University and is an occasional contributor to Jim’s excellent class at the Colorado School of Mines.

Jim Crompton retired from Chevron in 2013 after almost 37 years. After moving to Colorado Springs, Colorado, Jim established the Reflections Data Consulting LLC to continue his work in the area of data management and analytics for the Oil & Gas industry. He is a frequent speaker at SPE conferences on Digital/Intelligent Energy. His interests lie in the full spectrum of the information value chain from data capture, data management, data visualization, data access, modeling and analytics, simulations and serious gaming.

Jim graduated from the Colorado School of Mines (BS in Geophysical Engineering in 1974 and MS in Geophysics in 1976) before joining Chevron in Denver, Colorado. He later earned an MBA degree (1996) from Our Lady of the Lake University (San Antonio, Texas).

In acknowledgement of his contributions in applications of information technology to business problems, Jim was named a Chevron Fellow in 2002. In 2013, Jim co-authored a book, titled The Future Belongs to the Digital Engineer with Dr. Dutch Holland, focusing on the issues of the impact of emerging digital technology on oil and gas operations. Starting January, 2018, Jim teaches a graduate level course in “Petroleum Data Analytics” at the Colorado School of Mines.

Details
Type: Hardcover
Size: 8.5x11
Pages: 351
Published: January 2019
ISBN: 9781791890902

View Sample

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Additional info

SKU: 9781791890902
Availability: Usually ships the next business day.
Weight: 2.20 LBS
Width: 8.00
Height: 11.00
Depth: 1.00