JPT Key to Oil and Gas Future May Be Adapting Known Ideas Intelligently

SPE.org 

Even as the oil and gas industry looks for the next great idea to propel it forward, it should constantly reconsider past innovations for inspiration, the CEO of a major operator said Monday on the opening day of the 2017 SPE Annual Technical Conference and Exhibition. "The point is, you don't to have to go too far for new ideas," said Vicki Hollub, president and CEO of Occidental Petroleum Corporation. Hollub delivered the chairperson's luncheon speech on the first day of the conference, the key address underlining the 3-day conference theme. Hollub cited three technologies that, although not new, have played a significant role in upstream development not only when they were introduced but in the present day. Seismic imaging, horizontal drilling, and hydraulic fracturing all have succeeded in revolutionizing upstream practices over the years and even to this day, she said.