Oil, Gas Companies Interested in Technology Offering Quick Return
Posted on April 28, 2016
by Karen Boman|
Thursday, April 28, 2016
A telematics business official is seeing interest among oil and gas companies in investing in technology that can offer a quick return on investment and payback amid the industry downturn.
While now may not seem like a good time to invest in new technology, Henry Popplewell, CEO of SkyBitz, told Rigzone that they haven’t found that to be the case.
“We’re actually seeing the reverse,” said Popplewell. Companies are looking at technologies that allow them to operate more efficiently. Most of SkyBitz’s customers achieve a return on investment (ROI) in less than 12 months, with eight to nine months being more common.
Next week, Herndon, Va.-based SkyBitz will launch at the Offshore Technology Conference technology that will allow offshore oil and gas companies to track on the Iridium satellite network their global operating assets. The device allows for remote configuration changes. Most importantly, it has both UL LLC and potentially explosive atmospheres certifications, and can operate safely in hazardous locations.
SkyBitz originally started tracking non-powered assets, from frack tanks to light tower generators and over-the-road trailers. Today, the company’s offerings include tank telemetry solutions that allow an operator to safely determine how much liquid is in a tank. In years past, tank fluid was measured by either putting a stick in a tank or throwing a tennis ball against a tank to see how it sounded. Neither method was particularly safe.
The company also helps petroleum distributors with managing their cab driver logs. The company previously has focused on onshore oil and gas exploration, and other industries which have very expensive assets spread out over a wide geographical area.
Popplewell said SkyBitz’s technology can help oil and gas companies not only identify where equipment is located but monitor activity. This ability to track and monitor assets can help companies prevent theft and enhance safety.