North American energy companies spent over $24.5 billion on water and water-related services in 2017. In Canada, a large portion of that was spent simply moving, storing and disposing of water.
For Canadian energy companies to compete at the global level, they need to reduce the water cost per BOE and ensure that water does not become a limiting factor in resource development. Yet, despite calls for the industry to adapt and innovate, many continue to manage water using stale and inefficient methods, namely: pen, paper and spreadsheets. Not only is this unreliable and costly, but it is a missed opportunity to optimize water usage and reduce costs because the data is not being fully utilized.
Furthermore, the politicizing of energy infrastructure has highlighted the need for public support and earning a ‘social license’ to ensure projects get built. Environmental performance is an important criterion for gaining public support. As energy companies use more water for hydraulic fracturing, the public and regulators expect the water resource to be managed responsibly. The simplest way for industry to do this is to be efficient with its water usage. Fortunately, efficiency often goes hand-in-hand with reduced costs.
Thankfully, by utilizing disruptive technologies, producers can reduce water management costs by up to 21%. HubH2O, a Calgary-based water intelligence company, has combined cutting edge cloud, IoT and app-based technology with industry expertise to reduce both capital and operating costs for water. The result is increased free cash flow for producers. This is done by working with producers and water transfer companies alike to provide a comprehensive solution for all water-related data challenges, at no direct cost to the producer.
When using HubH2O, producers benefit by having a ‘smart’ water management system that not only makes their existing process more efficient and automates regulatory compliance, but also becomes the single source of truth for all their water data. This data provides the foundation for a fit-for-purpose water optimization system that can be used to further reduce costs. In addition, water transfer companies can leverage automation and digitization technologies through HubH2O to be more efficient and competitive, and ultimately improve their own margins.
HubH2O works with energy producers and service companies to address challenges with compliance, cost and availability of water (www.HubH2O.com). If you are interested in learning more about reducing water costs, join HubH2O on May 9th for a free Lunch & Learn. Please RSVP to email@example.com (space is limited).
What: HubH2O Lunch & Learn
Where: Downtown Calgary (specifics to be confirmed on RSVP)
When: Thursday, May 9th at noon
Who: Those involved in water management
In the meantime, if you want to learn more please contact HubH2O at firstname.lastname@example.org.
PS…want to share water with neighboring producers?? Sign up for HubH2O’s free WaterShare to see who has or needs water in your area.