EOC: Know This—Technology Rules In The Oil Patch

Knowledge is king in the oil patch and sweeping technological innovation has granted producers sovereignty.

“You have to know the rock and be able to innovate quickly,” Phil Webb, COO of Surge Energy Inc., told attendees of Hart Energy’s Executive Oil Conference on Nov. 7.

Know these—viscosity, velocity and proppant size—and you have the advantage.

“The tools to steer wells are incredible today, and now the effort is to accurately quantify the subsurface volume,” said Allen Gilmer, co-founder and executive chairman of Drillinginfo Inc. The goal, said members of the afternoon “positive sum production” roundtable, is to wrest as many boe/d as possible per dollar invested.