New Technologies are Becoming the Competitive Advantage Companies Need to Surpass Their Peers


THE RECENT DOWNTURN in energy has ignited the largest energy technology revolution we have ever seen. All aspects of the energy industry are experiencing this upsurge in innovation.

Historically, and still to a large degree, when the word “technology” has been used in regards to the oil and gas business, we assume the technology refers to subsurface operations without considering the many other aspects of this complex business. The landscape for technology solutions in the space is now changing and there is a flood of tech solutions being brought to all aspects of the industry. Technology is moving into processes or operational procedures making the case that the value gained in savings, efficiency, or access to information which provides companies a competitive advantage while offering superior business intelligence is equal to or exceeds the costs for these technology services.

The advancement and new market entrants of energy tech companies, the sales they are making, and the equity that is financing them can be attributed to the belief that technology as a service for energy is now a new part of the rapidly advancing industry we now know. If a process seems inefficient, apply a technology or develop a mobile app is now the mindset the industry is becoming comfortable with. Think about all the mobile apps we use each day to make our lives easier. The old mentality of “if it’s not broke, don’t fix it,” is simply being left behind.

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