**Houston**: The oil and gas sector is undergoing significant transformation through digital tools like Greasebook and Enverus, enhancing data management and operational efficiency. As firms embrace these advancements, technological adoption continues to reshape the industry’s traditional frameworks for improved competitiveness.
In an industry often perceived as traditional and slow to embrace change, the oil and gas sector is witnessing a significant transformation in its back-office operations. This evolution is largely driven by advancements in technology, particularly mobile applications and sophisticated accounting software that facilitate better data management. According to Permian Basin Oil and Gas Magazine, these innovations have replaced outdated practices like paper forms and manual data entry with real-time data access and streamlined workflows.
One of the notable players in this technological shift is Greasebook, founded by CEO Greg Archbald. The company initially used smartphones to digitise data collection from pumpers, eliminating the reliance on paper documentation. Archbald highlights the pivotal role of the iPhone in breaking down the industry’s historical resistance to technology. He stated, “I think Apple and Google fought some of the battles [of technology adoption] that, fortunately, we didn’t have to fight.” This sentiment underscores how the ubiquitous presence of smartphones has facilitated easier adoption of mobile-based solutions.
Archbald explained that the Greasebook app allows pumpers to input a wide array of information—including run tickets, gauge readings, and gas measurements—directly into their mobile devices. This data becomes immediately accessible to team members from anywhere in the world. During the COVID-19 pandemic, the app helped Greasebook thrive, as many clients were already accustomed to accessing their operations remotely.
Building on their initial success, Greasebook is set to launch a new product in 2024 known as Tiny Pumper. Archbald describes Tiny Pumper as allowing users to attach sensors to field equipment and receive instantaneous data updates. He claims its setup is so straightforward that it can be operational in under ten minutes, offering small and medium-sized companies an efficient, cost-effective alternative to traditional SCADA systems. “My goal was to provide those companies with 99 percent of that utility for less than 5 percent of the cost,” he stated.
In parallel, another company, Enverus, is also innovating within the industry. Ian Elchitz, VP of Product Management at Enverus, highlights that digitisation is essential for addressing operational challenges amid reduced staffing levels. Enverus is focusing on automating routine tasks and enhancing collaboration through digital platforms, enabling smaller teams to make informed decisions despite increased work volumes in regions like the Permian Basin.
One of the key tools introduced by Enverus is the RFx (Request for Anything) system, which streamlines the procurement process. Elchitz noted that this tool enables operators to manage large, multi-vendor RFx processes efficiently, facilitating side-by-side comparisons of bids. The system aims to enhance negotiations and strengthen supplier relationships. He elaborated, “It simplifies tasks like ‘three bids and a buy,’ streamlining the process of gathering competitive bids and finalizing purchases.”
Both Elchitz and Archbald observe that the industry is becoming increasingly receptive to digitalisation, with many firms now recognising the risks associated with outdated practices. As companies seek to bridge gaps created by staffing constraints, digital tools are enabling them to reallocate resources to more strategic tasks and ensure continuity even during rapid changes.
The ongoing digital revolution in the oil and gas sector signifies a decisive shift away from traditional methods towards a more data-driven, efficient, and interconnected operational framework. As technological advancements continue to emerge, industry leaders are keenly aware that embracing these changes will be crucial for staying competitive in an evolving market landscape.
Source: Noah Wire Services
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