07 April, 2023
Data is the NewBlack Gold
Like oil, data is a commodity with tangible value. The new black gold costs organizations millions of dollars to produce (think well logs, SCADA, leases, etc.). Importantly, energy companies make billion dollar decisions on their data, however, like gold, getting your hands on the right data to make crucial drilling or M&A decisions is ironically difficult as energy professionals are often knee deep in it. E&Ps and midstream companies need to get as good at gathering, processing, and distributing data as we have become with the physical movement of hydrocarbons.
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