Industry News: Oil & Gas Spending Cuts Lower Than Expected, Crude Prices Rebound

In response to the decline in oil and gas prices, many companies are cutting back on spending, including IT spending. However, according to a recent survey by IDC Energy Insights, the cuts are lower than many expected. Also, as of this week, crude oil prices on the New York and London markets regained some ground. Additional research reports have found that oil and gas data management market is expected to grow from $6.08 Billion in 2015 to $21.22 Billion. Find out more about all the latest reports and research in this week’s industry news round-up.

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Industry News: Boom & Bust in Two Texas Towns, Cloud Security Vulnerabilities

It’s a tale of two Texas towns. They’re only 38 miles apart, yet one is still booming while the other struggles on the fringe. In this week’s industry news find out how the current landscape of the shale oil industry is affecting the various towns and states throughout the country. Also, learn the top questions you need to ask when it comes to your company and cloud computing. Find out which vulnerability could shatter cloud security. And do you know which tiny nation could have huge oil and gas potential?

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Industry News: Signs of Higher Oil and Gas Prices, Drilling Plans & Energy Operations

It looks like oil and gasoline prices could be on the rebound. Signs point to higher prices as domestic inventories start to decline for the first time since December.  Oil producers are also casting aside feelings of gloom after companies like Carrizo Oil & Gas Inc., Devon Energy Corp. and Chesapeake Energy Corp. all lifted their full-year production outlooks this week. As soon as crude prices stabilize, drilling plans will move forward. But until prices fully rebound, it’s important to keep operational efficiency top of mind. Watch the latest Cimation video and learn the six steps to help you improve efficiency in energy operations. Finally, learn the key takeaways from the 2015 Offshore Technology conference in this week’s industry news round-up.

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Operations Consulting: 6 Steps to Improving Efficiency in Energy Operations

With crude oil prices down, the need for operational efficiency –  always a priority – is at an all-time high. In today’s market, many clients are looking to technology to streamline their processes and ultimately save money. Although budgets have been reduced, companies are continuing to invest in projects that promise significant return through improved efficiency and better safety. The real question is, however, where to begin.

Process manufacturing operations (like oil and gas production, transportation, or refining) generate massive amounts of data. Even a mid-sized operator produces millions of data points per second as it tracks product movement through a pipeline, in a truck, or in a terminal facility.  When looked at holistically, these data points create a comprehensive view of manufacturing operations. But the reality is that most operations fail to look at the bigger picture where they can extract the full-value of their technology investment. Instead, they are often mired down with day-to-day activities, the never-ending work triaging urgent issues and resolving problems as they arise, making resolution of the big-picture problems nearly impossible. Which is where Operations Consulting comes in.

Most organizations invest in technology, but fail to fully or effectively utilize it. Operations consulting examines your business including its processes and technology infrastructure, identifies specific areas for improvement, prioritizes investment opportunities, and develops solutions to unlock hidden value in your operations. With their intimate understanding of field operations and their ability to benchmark your business against comparable companies, Cimation’s Operations Consulting team provides an in-depth study of your operations and step-by-step project plans to actualize their findings.

While it might seem complicated, we’ve actually broken it down into a concise, repeatable, six-step approach. In this video, I discuss why and how the Operations Consulting approach is designed to improve your business. Watch the short video or read the synopsis below to learn more!

The 6-Step Approach to Operations Consulting

 

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Cimation Appoints Sean Smiley Operations Director Denver

Cimation is pleased to announce the appointment of Sean Smiley to the role of Operations Director, Denver effective April 20. In this position, Mr. Smiley is responsible for establishing the regional business unit’s vision and execution strategies, maintaining relationships with existing customers, and delivering quality projects throughout the Western United States.

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Industry News: O&G Sector Behind IT Services Adoption, EOR Infographic

This week’s industry news round-up showcases some of the latest advice and opinions from industry leaders. Some say the oil and gas sector is leading the way in terms of IT services adoption while some are concerned that even though technological advances have been made, effective communication is still lacking. In other industry news, learn the latest about US-based LLOG Exploration as they ramp up production for the Delta House floating production system. Finally, don’t forget to download our latest infographic on Enhanced Oil Recovery!

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[INFOGRAPHIC] Enhanced Oil Recovery: Good to the Last Drop

When oil prices were at their highest levels, many companies felt very comfortable experimenting with new oil recovery techniques and investing in new technologies, such as Enhanced Oil Recovery. Because, while more expensive, EOR methodologies can achieve as much as 60% recovery compared to primary recovery techniques. It boosts what was once old into something new and, more importantly, profitable. However, don’t think that with the downturn in the market Enhanced Oil Recovery has been abandoned. In fact, tertiary recovery not only extends the lifetime of a reservoir but brings new life to boutique firms and startups as well.

The energy industry is constantly looking for ways to increase the efficiency of field operations, improve safety and recover more product from existing wells. While EOR has been around since the 1930s, new digital oilfield and automation technology has brought the methodology to new heights.

Our latest infographic provides an overview of Enhanced Oil Recovery as well as provides some key stats.

Download it today and learn:
  • The 3 Primary EOR Techniques
  • Various Uses of Automation in EOR
  • The Challenges Presented by EOR
  • How To Measure Success
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CFATS & Act of 2014: Improving Chemical Facility Safety & Security

At this year’s Gas Processors Association Conference, we attended many forums discussing safety and risk mitigation in the oil and gas industry. During the Pipeline Safety Forum, we had the chance to listen to the Chief of Policy and Rulemaking at the Department of Homeland Security, Amy Graydon, speak on the latest CFATS Act of 2014 and Executive Order: EO13650. While orders like these are not yet mandatory for all high-risk facilities, those who participate in these programs are setting the stage for the rest of the industry.

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Industry News: How to Reenergize the Oil Industry, Shell Shakes Things Up

Shell’s plans to acquire the BG Group have many wondering what’s to come. Will this pact inspire copycat deals? How will they face modern challenges in operations in Argentina, Brazil and beyond? Learn how the two companies with such long histories will face today’s modern challenges. In other oil and gas news, Forbes gives some advice on how to reenergize the hard hit oil and gas industry. We also learn that US still remains the largest producer of oil and gas, according to US Energy Information Administration estimates. In automation news, the emergence of human detection sensors could have big implications for transportation and industrial automation. It could help in leaps and bounds for things like pedestrian and bystander detection, collision avoidance, intrusion detection, fire safety and energy management. What other implications are there? Find out in this week’s industry new round-up.

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Current Loops: 4-20 mA Overview, Benefits & Fixing Loop Malfunctions

All over the internet, people are asking about current loops. What does a current loop look like? Why is it malfunctioning? What can I do to prevent it from breaking or maybe breaking again? Current loops are fundamental to most process control systems, and also one of elements that most often breaks down. But in spite of their ubiquity, there is a general lack of information available for the people responsible for designing, commissioning and maintaining control environments. It is essential that we learn current loop fundamentals, benefits and practical use cases. The more we know, the better we can remedy any failures that are bound to arise.

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