Technology pushing Growth in Oilpatch

July 23rd, 2010 by

By Pat Hinds

I read an interesting quote in a Calgary Herald article entitled, “Technology pushing growth in oilpatch.”
Speaking at an oil and gas conference, Encana CEO Randy Eresman said new drilling technologies have allowed the company to assemble an inventory of 23,000 possible drilling locations in Canada and the United States, enough to keep it busy for a quarter-century.

“That’s just the tip of the iceberg,” he told an audience of investment bankers. “I have tremendous confidence in the ability of our teams to pick up the pace of production.”

The first part of the quote speaks to the impact technology has had on the oil & gas business; “new drilling technologies have allowed the company to assemble an inventory of 23,000 possible drilling locations”.

The second part of the quote speaks to the importance of people and process in order to capitalize on the new technology “I have tremendous confidence in the ability of our teams to pick up the pace of production.”

What is happening in the energy sector parallels what is happening in many industries and professions including sales. The “information age” has opened so many doors for companies to cost effectively address new markets, but the execution of this expansion relies on user adoption and process modification.

The article goes on to make reference to an oil & gas term, “unconventional” – Gordon Kerr, the president and CEOof Enerplus Resources Fund said that, “Definitely, the unconventional is giving more opportunity to support growth.” Sales organizations need to adopt an “unconventional” approach to how they are going to sell to their target markets. The vast competition company’s face in today’s market place has made it impossible to grow market share with a “conventional” sales approach.

Companies must change processes to adapt to the change in customers buying habits; they must train people on the new process and the implement technology to support the automation of these process. The article does not use the terms “oil & gas 2.0”, but it does support a major transition in the industry. If you operate a sales organization you need to learn from the oil & gas industry and adopt sales2.0.

Read more: http://www.calgaryherald.com/Technology+pushing+growth+oilpatch/3280147/story.html#ixzz0uHqaHOB6

Topics: Sales Consulting