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Combating the Sunk Cost Fallacy: When to abandon old tech

Sunk costs. Like the Titanic, except without any loot. Costs that have either already been incurred or cannot be changed are sunk costs. Rent, fuel, gym memberships - the money spent on these expenses can’t be recouped, no matter how you proceed. If a project or...

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How to Overcome 3 Software Implementation Hurdles

There can be multiple hurdles between choosing a software and successfully implementing one. And the hurdles look different depending on where you’re at in the process. Between buy-in and roll-out, a lot can happen, so let’s take a look at how to address three...

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How to Increase Profits by Reducing Days to Invoice

Cash. The most basic success metric for any kind of business. Stakeholders often focus on profits to measure success, but for recession-tempered oil and gas service companies, cash flow is king. In volatile commodity markets, effective survival strategies are built...

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Is a Cloud-based App Right for Your Business?

Remember CD-ROMs? How about installation procedures that should have started with, “Do you have 6 hours for this?”, and frequent new versions that produced compatibility nightmares. Thankfully, technology is always moving toward efficiencies. At the personal...

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Produced Water: Turning a liability into an asset

Image courtesy of F&T Water Solutions The trade off The newest, most efficient methods of oil and gas extraction require more water than conventional drilling. Fracking for oil and shale gas, along with SAGD to recover bitumen, have allowed operators to access...

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AI for Business: Is it right for your organization?

Artificial intelligence has found its way into daily life. From Siri and Google Maps, to smart home virtual assistants and cars that parallel-park themselves, AI is available to consumers who want help doing hard things, faster. Considering the popularity and...

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Oil and Gas Technology: Automation, Remote Operation, AI

Exciting changes are happening as upstream companies make the transition from manual processes to digitization and automation. Let’s take a look at some of the most recent tech innovations as well as what’s next for the industry. Nabors Nabors RigWatchⓇNavigatorTM...

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In-house Tech for Efficient Unconventional Wells

As exploration and production steadily increase, operators are challenged to realize profits in the new normal of lower oil prices. Ensign President and COO Bob Geddes believes that surviving the new normal requires differentiation: “You’re going to need to be more...

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