Often, the next innovation is found by solving systemic problems. The following two young professionals are examples of entrepreneurs solving such problems in today’s oil and gas industry.
Tim Duggan, 32, is the chief executive officer (CEO) of Skynet Labs and comes from a family of business-savvy men and women. He has applied the entrepreneurial spirit he imbibed through his family to a business that serves the oil and gas industry.
Duggan combined this drive with understanding a market need and using his intelligence to develop secure real-time oil and gas analysis and optimization software to support drilling engineer professionals and mission-critical exploration and production operations.
Allison Lami Sawyer, 30, is the CEO of Rebellion Photonics, a company that offers real-time gas-cloud imaging to monitor, quantify, and display explosive/harmful gas leaks for oil and gas field locations.
She explains how she serendipitously came upon the basis of her multimillion-dollar idea in a technical journal about cell science.
Duggan zeroed in on the dangers of relying on manual drilling calculations, whereby decisions could be made using erroneously calculated data. His app simplifies the calculation of workflow at the upstream engineering level, based on software that centralizes and solves problems formerly calculated manually.
Sawyer saw an opportunity with hyperspectral imaging. Originally developed for biological applications, a gas-cloud imaging camera takes images at a certain frequency that detects gas concentrations in parts per million. The camera can detect the potential for explosive gas leaks in real time. An alarm sounds in 5 microseconds when the environment shows a critical concentration of gas.
These young entrepreneurs’ companies are solving challenges in the oil and gas industry today.
To find out how they began and the lessons they learned during their journey:
Living on the Edge: The Cutting Edge -- Tim Duggan, Skynet Labs
Hitting Home Runs -- Allison Lami Sawyer, Rebellion Photonics