Going upstream for resource energy solutions
By Trent Marx, CEO, Resource Energy Solutions
It took us decades to master the extraction of oil and gas from below the ground, and liquid gold was the name given to it.
From Edwin Drake along the banks of Oil Creek with his wooden structure in 1859 to the stupefying steel structures in the sub-zero temperatures of Antarctica, we have come a long way.
The industry has evolved beyond Drake’s wildest expectation and with that evolution we have moved beyond the three dimensions of upstream sector i.e. drilling, production and reservoir factoring in a fourth one “environment.”
Whether climate change is a factor or not the industry has become a better caretaker of the environment. The recent Canada C-69 proposed environmental assessment law demonstrates how divided the nation stands on the issue of climate change. How can we as an industry move quickly to address the environment and save fossil fuels vital contribution to the economy. Which begs the question “Do we have to choose between one of them or is there a middle ground to this?”
There can be plenty of debate on activities like gas flaring, well pad movement, GHG emissions, Pump jacks etc. The activity of gas flaring is very important as there is no place to store the gas so the excess gas is burned. Well pad movement is the key area that minimizes the environmental footprint and maximizes well production through smaller incremental rig moves. Similarly, there are many such activities that are very important in O&G prospecting but can’t be stopped all of a sudden, because stopping them will be stopping the industry.
There are numerous examples of which fossil fuel has contributed to environmental damage During the last decade, more than one billion gallons of oil spilled worldwide. The good news is this number is decreasing with better practices and technology, just like airline safety.
The prescient need is for the implementation of software solutions which would fix the liability and clearance at each and every stage. So that whole nation doesn’t have to pay the price for mistake of a few. The TORC platform by Resource Energy Solutions (RES) is a platform that manages liability and moves the process forward after environmental or other clearances are obtained. It will acknowledge possible issues to prevent the smallest of errors.
Artificial Intelligence (AI) also has a huge role to play in this revolution of ours, by optimizing all the possible outcomes, to prevent all the potential environmental damages with the ability to assess data at a much faster rate than others.
Proper land restoration after drilling, plugging of abandoned wells, filters to avoid toxic gases into atmosphere while flaring, protection of wildlife in the area with minimal disturbance. These are some of the healthy practices that the industry is working hard to incorporate.
Green dreams of dismantling the oil and gas industry will not solve the global demand for oil and gas. Bringing our technology into the 21st century with the ability to not only address the environmental concerns but create a holistic approach to all aspects of production with platforms like TORC, will dramatically advance this process.