In the early days of oil and gas, imagination was the industry's best computer. Maps were hand-drawn with colored pencils and then delivered via a motorcycle carrier. Handwritten production notes were loaded onto buses for transporting. We know because…well…we were there.
Data and research within the energy industry has come a long way over the last 70 years. IHS Markit pioneered and progressed the industry from mere collection of data into decision-making tools, including predictive modelling and software.
Now, geologists and engineers collaborate on decision-making. Success today means bringing data and disciplines together in way that was unimaginable only a few years ago.
That's how many found success in the Permian.
IHS Markit unconventionals expert, Raoul LeBlanc explained the phenomenon: “One of my favorite things about the Permian is that you have parts of the basin suddenly churning out some very exciting wells—and they're the parts that everybody left for dead. What happened? You had some person who's been working it for 40 years, and they said, ‘Maybe I can take that horizontal well thing, and drill it in this conventional reservoir, and get something big.’ You have people in the business who see things that others just don’t see.”
Hart Energy’s IndustryVoice has partnered with IHS Markit to capture the story of the changing role of data, analytics and research within the industry from the past and into the future.
In this part of the series, Permian Basin: A Solution Story, industry experts and operators come together to discuss how the progression of data and research has impacted the Permian. And, they preview the role data, analytics and technology will play on the oil field in the future.
About this program’s sponsor: Energy solutions from IHS Markit comprise some of the most extensive information, analytics, insight, and advisory services in the world. We deliver oil and gas databases and software, energy supply and demand forecasts, and comprehensive data on transactions at the global and regional market levels. Our renowned energy experts empower leaders worldwide to make their best decisions. Learn more about IHS Markit energy solutions.