American Oil and Gas Reporter - January 2017 - 93

Tech Trends

Technology Development
Key To Creating Value,
Solving Technical Challenges
By Tom Williams
HOUSTON-The ability to create value
is what distinguishes the most successful
participants in any market. In the oil and
gas industry specifically, value creation
is an incremental process that typically
takes years to materialize and requires
significant capital investment at multiple
points, from leasing acreage and acquiring
seismic data to drilling wells and installing
production infrastructure.
The key to driving economic returns
throughout the process-spanning the complete life cycle of an oil and gas asset
(from discovery to enhanced recovery)-
is leveraging technology at each decision
point and in every discipline to reduce
financial and operational risks.
Consider how much value the industry
has created collectively over the past 10
years by applying technological advancements such as rich-azimuth 3-D seismic
in deepwater fields, horizontal drilling
and multistage completions in onshore
resource plays, or carbon dioxide enhanced
recovery in mature fields.
It is anyone's guess what the next significant enabling technologies may be,
but there is no doubt they will be applied
by innovative companies to help find and
develop reserves at lower cost with increased productivities, and enhanced
safety and environmental performance.
Volatile product prices only reinforce
technology's powerful effect on the value
creation equation for producers and operators. As painful as it has been, the
downturn that began in late 2014 has
been a reminder that oil and gas commodity prices do not change the need to
develop new technologies. In fact, tighter
operating margins necessitate deploying
new tools and practices to improve efficiencies and reduce costs. Perhaps this
explains why the number of oil- and gasrelated patents increased in 2015 and

2016, according to the U.S. Patent &
Trademark Office.
For a wide-angle perspective on oil
and gas research and development in
2017, it is instructive to look to the results
of a study the National Petroleum Council
completed 10 years ago. The study found
that it took 16 years on average for a
technology to mature from the concept
stage to commercialization.
The study went on to note that because
of the declining investment of researchrelated funds from the federal government,
the burden was shifting to the oil and gas
industry to efficiently allocate research
funds into worthwhile projects. The report
encouraged Congress to increase government investments in R&D.
What has transpired since NPC issued
that 2007 report is nothing short of re-

markable. Research from industry and
government did ramp up, the country
benefited from increased production and
reserves (namely in unconventional and
deepwater plays), and the 16-year technology cycle was shortened as the industry
embraced innovation.
Today, however, the R&D situation
looks similar to 2007, with the same declining investment of research-related
funds. What does that mean for technology
development going forward and the industry's ability to repeat the experience
of the past decade?
Changing The Game
The technologies, practices and applications developed over the past decade
have changed the game. Major drilling
efficiency gains give operators the ability

Hydraulic fracturing events

Acoustic micro emiter events

This illustration shows how multicomponent fiber optics-based seismic sensing technology and acoustic micro emitters can be applied in horizontal well developments for
effective and accurate monitoring of unconventional oil and gas reservoirs. Image courtesy of Paulsson Inc.

JANUARY 2017 93



American Oil and Gas Reporter - January 2017

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2017

Contents
American Oil and Gas Reporter - January 2017 - 1
American Oil and Gas Reporter - January 2017 - 2
American Oil and Gas Reporter - January 2017 - Contents
American Oil and Gas Reporter - January 2017 - 4
American Oil and Gas Reporter - January 2017 - 5
American Oil and Gas Reporter - January 2017 - 6
American Oil and Gas Reporter - January 2017 - 7
American Oil and Gas Reporter - January 2017 - 8
American Oil and Gas Reporter - January 2017 - 9
American Oil and Gas Reporter - January 2017 - 10
American Oil and Gas Reporter - January 2017 - 11
American Oil and Gas Reporter - January 2017 - 12
American Oil and Gas Reporter - January 2017 - 13
American Oil and Gas Reporter - January 2017 - 14
American Oil and Gas Reporter - January 2017 - 15
American Oil and Gas Reporter - January 2017 - 16
American Oil and Gas Reporter - January 2017 - 17
American Oil and Gas Reporter - January 2017 - 18
American Oil and Gas Reporter - January 2017 - 19
American Oil and Gas Reporter - January 2017 - 20
American Oil and Gas Reporter - January 2017 - 21
American Oil and Gas Reporter - January 2017 - 22
American Oil and Gas Reporter - January 2017 - 23
American Oil and Gas Reporter - January 2017 - 24
American Oil and Gas Reporter - January 2017 - 25
American Oil and Gas Reporter - January 2017 - 26
American Oil and Gas Reporter - January 2017 - 27
American Oil and Gas Reporter - January 2017 - 28
American Oil and Gas Reporter - January 2017 - 29
American Oil and Gas Reporter - January 2017 - 30
American Oil and Gas Reporter - January 2017 - 31
American Oil and Gas Reporter - January 2017 - 32
American Oil and Gas Reporter - January 2017 - 33
American Oil and Gas Reporter - January 2017 - 34
American Oil and Gas Reporter - January 2017 - 35
American Oil and Gas Reporter - January 2017 - 36
American Oil and Gas Reporter - January 2017 - 37
American Oil and Gas Reporter - January 2017 - 38
American Oil and Gas Reporter - January 2017 - 39
American Oil and Gas Reporter - January 2017 - 40
American Oil and Gas Reporter - January 2017 - 41
American Oil and Gas Reporter - January 2017 - 42
American Oil and Gas Reporter - January 2017 - 43
American Oil and Gas Reporter - January 2017 - 44
American Oil and Gas Reporter - January 2017 - 45
American Oil and Gas Reporter - January 2017 - 46
American Oil and Gas Reporter - January 2017 - 47
American Oil and Gas Reporter - January 2017 - 48
American Oil and Gas Reporter - January 2017 - 49
American Oil and Gas Reporter - January 2017 - 50
American Oil and Gas Reporter - January 2017 - 51
American Oil and Gas Reporter - January 2017 - 52
American Oil and Gas Reporter - January 2017 - 53
American Oil and Gas Reporter - January 2017 - 54
American Oil and Gas Reporter - January 2017 - 55
American Oil and Gas Reporter - January 2017 - 56
American Oil and Gas Reporter - January 2017 - 57
American Oil and Gas Reporter - January 2017 - 58
American Oil and Gas Reporter - January 2017 - 59
American Oil and Gas Reporter - January 2017 - 60
American Oil and Gas Reporter - January 2017 - 61
American Oil and Gas Reporter - January 2017 - 62
American Oil and Gas Reporter - January 2017 - 63
American Oil and Gas Reporter - January 2017 - 64
American Oil and Gas Reporter - January 2017 - 65
American Oil and Gas Reporter - January 2017 - 66
American Oil and Gas Reporter - January 2017 - 67
American Oil and Gas Reporter - January 2017 - 68
American Oil and Gas Reporter - January 2017 - 69
American Oil and Gas Reporter - January 2017 - 70
American Oil and Gas Reporter - January 2017 - 71
American Oil and Gas Reporter - January 2017 - 72
American Oil and Gas Reporter - January 2017 - 73
American Oil and Gas Reporter - January 2017 - 74
American Oil and Gas Reporter - January 2017 - 75
American Oil and Gas Reporter - January 2017 - 76
American Oil and Gas Reporter - January 2017 - 77
American Oil and Gas Reporter - January 2017 - 78
American Oil and Gas Reporter - January 2017 - 79
American Oil and Gas Reporter - January 2017 - 80
American Oil and Gas Reporter - January 2017 - 81
American Oil and Gas Reporter - January 2017 - 82
American Oil and Gas Reporter - January 2017 - 83
American Oil and Gas Reporter - January 2017 - 84
American Oil and Gas Reporter - January 2017 - 85
American Oil and Gas Reporter - January 2017 - 86
American Oil and Gas Reporter - January 2017 - 87
American Oil and Gas Reporter - January 2017 - 88
American Oil and Gas Reporter - January 2017 - 89
American Oil and Gas Reporter - January 2017 - 90
American Oil and Gas Reporter - January 2017 - 91
American Oil and Gas Reporter - January 2017 - 92
American Oil and Gas Reporter - January 2017 - 93
American Oil and Gas Reporter - January 2017 - 94
American Oil and Gas Reporter - January 2017 - 95
American Oil and Gas Reporter - January 2017 - 96
American Oil and Gas Reporter - January 2017 - 97
American Oil and Gas Reporter - January 2017 - 98
American Oil and Gas Reporter - January 2017 - 99
American Oil and Gas Reporter - January 2017 - 100
American Oil and Gas Reporter - January 2017 - 101
American Oil and Gas Reporter - January 2017 - 102
American Oil and Gas Reporter - January 2017 - 103
American Oil and Gas Reporter - January 2017 - 104
American Oil and Gas Reporter - January 2017 - 105
American Oil and Gas Reporter - January 2017 - 106
American Oil and Gas Reporter - January 2017 - 107
American Oil and Gas Reporter - January 2017 - 108
American Oil and Gas Reporter - January 2017 - 109
American Oil and Gas Reporter - January 2017 - 110
American Oil and Gas Reporter - January 2017 - 111
American Oil and Gas Reporter - January 2017 - 112
American Oil and Gas Reporter - January 2017 - 113
American Oil and Gas Reporter - January 2017 - 114
American Oil and Gas Reporter - January 2017 - 115
American Oil and Gas Reporter - January 2017 - 116
American Oil and Gas Reporter - January 2017 - 117
American Oil and Gas Reporter - January 2017 - 118
American Oil and Gas Reporter - January 2017 - 119
American Oil and Gas Reporter - January 2017 - 120
American Oil and Gas Reporter - January 2017 - 121
American Oil and Gas Reporter - January 2017 - 122
American Oil and Gas Reporter - January 2017 - 123
American Oil and Gas Reporter - January 2017 - 124
American Oil and Gas Reporter - January 2017 - 125
American Oil and Gas Reporter - January 2017 - 126
American Oil and Gas Reporter - January 2017 - 127
American Oil and Gas Reporter - January 2017 - 128
American Oil and Gas Reporter - January 2017 - 129
American Oil and Gas Reporter - January 2017 - 130
American Oil and Gas Reporter - January 2017 - 131
American Oil and Gas Reporter - January 2017 - 132
American Oil and Gas Reporter - January 2017 - 133
American Oil and Gas Reporter - January 2017 - 134
American Oil and Gas Reporter - January 2017 - 135
American Oil and Gas Reporter - January 2017 - 136
American Oil and Gas Reporter - January 2017 - 137
American Oil and Gas Reporter - January 2017 - 138
American Oil and Gas Reporter - January 2017 - 139
American Oil and Gas Reporter - January 2017 - 140
http://staging.nxtbook.com/nxtbooks/aogr/201702/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201701/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201612/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201611/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201610/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/pbios2016_programguide/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201609/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201608/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201607/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201606/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201605/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201604/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201603/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201602/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201601/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201512/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201511/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201510/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201509/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201508/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201507/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201506/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201505/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201504/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201503/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201502/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201501/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201412/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201411/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201410/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201409/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/pbios2014_programguide/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201408/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201407/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201406/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201405/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201404/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201403/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201402/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201401/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201312/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201311/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201310/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201309/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201308/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201307/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201306/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201305/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201304/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201303/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201302/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201301/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201212/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201211/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201210/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201209/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/2012_pbios/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201208/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201207/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201206/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201205/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201204/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201203/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201202/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201201/stage.php
http://staging.nxtbook.com/nxtbooks/demo/aogr_clone/stage.php
http://staging.nxtbook.com/nxtbooks/aogr/201112/stage.php
https://www.nxtbookmedia.com