On December 19, 2016, we took note of Denver’s role as a center of emerging energy tech companies in our article Denver Emerges as The Epicenter Of The Second Wave Of Oil & Gas Innovation. The piece quickly went viral, gaining over 10,000 views in the two months following its publication, and to date that number is approaching 16,000. Since then, we have had the opportunity to meet with entrepreneurs from other oil towns and discovered that the second wave of oil and gas technological innovation that we first recognized in Denver had spread like wildfire!
Save the Dates for Upcoming Energy Tech Showcase Events!
Before we continue, be sure to save the date for the next Prism Group Energy Tech Showcase, where the energy business meets innovations for solving their most challenging problems and establish a competitive advantage.
The first two events in Denver during 2017 were elbow-to-elbow smashing successes, and we are bringing it back by popular demand for a third time in Denver this spring and to Houston in the fall.
· Energy Tech Showcase 2018 – Denver
· Tuesday, May 8, 2018
· Rock Bottom Downtown Denver
· 2:00 – 6:30 PM
Energy Tech Showcase 2018 – Houston will be held in October 2018.
Check the Energy Tech Showcase website for updates.
And now, back to our story.
At the second Denver Energy Technology Showcase (ETS) in October 2017, the number of exhibiting companies doubled to 40, and we had to find a bigger venue (thank you Rock Bottom Brewery!). Almost half of the exhibitors at the October ETS event hailed from Colorado’s sister oil states of Oklahoma and Texas. After seeing the innovations energy tech pioneers are bringing to market, we couldn’t help but be a little inspired and a lot impressed.
Some notable companies from outside of Colorado, and few inside, include:
EnergyIQ. EnergyIQ has offices in Houston and Denver and is changing the way E&P companies manage the business lifecycle of a well from planning, drilling, production and eventually P&A. Pioneering innovative methodologies in data management, EnergyIQ is the leader in automated workflows for E&P companies. Automated workflows are the next, natural evolution in business process efficiency and productivity. Check out their joint webcast with Hunt Oil Company on February 14.
Wellcast. Based in Tulsa, Oklahoma Wellcast is changing the way asset management teams manage drilling programs with an innovative, cloud-based rig scheduling solution. Wellcast was built by former asset management team members who worked on one of the most active drilling programs in America during the frenzied years of the oil and natural gas shale boom, drilling over 600 wells a year at the peak. Their first-hand experience with the problems of managing multi-rig drilling programs efficiently and productivity differentiates Wellcast in the market. Thanks to Wellcast, their clients can Meet Less, Drill More!
Flex Leasing Power & Service. Not all technological innovation in the oil and gas industry is based on information technology. Flex Leasing Power & Service (FLPS), based in Denver, provides clean, reliable field power solutions for remote operations. Leading operators in the Permian and Williston basins are unplugging from the unreliable utility grid and plugging into microgrids powered by Flex Turbines™ that run on natural gas of any quality (sour, rich or lean), including tank vapors. FLPS’ modular microgrid power solution is gaining in popularity because it can scale up, or down, as pads are drilled out and eventually consolidated. Leading operators turn to FLPS for power solutions that areReliable, Clean, and Simple.
KeenIM. KeenIM, based in Denver, is bringing a new standard of information management to the energy industry with solutions designed specifically for it. Moving beyond Intranets and portals, KeenIM helps E&P companies manage information and critical records over the lifecycle of an asset, which can dramatically reduce document search times and optimize records retention. With their proprietary information architecture, KeenIM can install a corporate intranet solution in one-third the time at half the cost of traditional solutions. KeenIM is helping energy companies and utilities create an Advantage Through Information.
EcoVapor Recovery Systems. We love science, especially when it produces a solution that is good for both profits and the environment. EcoVapor’s ZerO2™ solution helps oil & gas producers capture 100% of the production stream, removes potentially dangerous oxygen that accumulates in oil storage tanks and nearly eliminates flaring. When oxygen builds up in oil storage tanks, it presents a safety risk to pipelines, who will shut down a production pad unexpectedly to prevent oxygen-contaminated production from getting into their system, which can turn into carbonic acid with potentially disastrous results. Vapor Recovery Units can help, but when paired with an EcoVapor ZerO2™ unit, all production is captured, especially the rich-Btu tank vapor gas that although has high economic value, can also contribute to atmospheric emissions. Given increasingly stringent natural gas capture standards and emissions restrictions, EcoVapor’s solutions help leading operators Flare Less, Sell More.
As we recognized over a year ago, the momentum to leverage technology in the oil & gas industry is accelerating. Leading operators, oilfield services companies, midstream companies and utilities are adopting technology-based innovations that help them maintain or improve their competitiveness, productivity and efficiency both in the field and increasingly at headquarters.
We are pleased to report that the energy tech revolution has spread! And it promises to change the way we work forever.
About Prism Group
Prism Group is a full-service management consulting firm providing marketing, investor relations and financial consulting solutions to the oil and gas, technology, oilfield service and financial sectors. We offer brand development, Content Marketing, marketing automation, advertising creative, website design, technical illustration, corporate valuation, non-deal roadshows, media and more. Leaders who are serious about building value and delivering results rely on Prism Group for strategic communications, marketing and financial advisory.