This session posed the question, "How do we drive both game changing innovation as well as incremental product development in a volatile capital-constrained industry?"

Introduction of technology requires a decision maker(s) within an organization to become aware, be persuaded, decide to use, implement, and ultimately confirm value. This has always been a challenging journey, especially for technologies that change our workflow or organization.

Since 2015, our industry has experienced several shifts in attitude toward technology adoption. This shift has left technology teams and operations groups with little budget, and little say in selection of new technology. Objectives for teams are to be minimally scoped and all new technology must be justified. This environment can be challenging as organizations have new directives on how or where to deploy cash.

The volatility in today’s oilfield due to inflationary supply-side pressures and fluctuating oil prices challenges traditional static contracting models.

Join the conversation in Session 2 to address the following questions:

• How can we use relational or gainshare contracts to manage the use of capital more effectively through shared value?
• Do current common contract models such as take-or-pay or call-off contracts lead to inefficiencies?

Attempts have been made over the years to change how well construction services are provided but the status-quo has largely prevailed. The integration and provision of multiple well services under a single provider (traditionally a lead service company but often under the drilling contractor) to drive efficiencies and optimize performance has often been attempted without ever gaining widespread adoption.

Similarly, the implementation of performance-based contracts, where remuneration has been based on meeting or exceeding contractually defined metrics, have been attempted yet traditional nonproductive time-based (NPT) contracts tend to prevail. Both these initiatives rely on shifting operational risk from the operator further down the supply chain to incentivize efficiencies and improved performance but this risk doesn't always receive commensurate reward.

This session will explore how we better deliver truly win-win integrated service and performance-based contracts.

Session 4 Discussion Leaders will pose these questions:

• What is the value of creating dynamic contracts that flex to both business and the operations needs in near real-time?
• What are the best practices that should be adopted to enable this to happen at scale? 

Session 5 will examine:

• How do we incentivize organizations to break down barriers to change?
• Who should take the lead - operator or contractor?
• What does the WIN WIN WIN of the future look like?

Examining both risks and rewards, what are the choices available to us, what consequences may result from each of these, and what commitments will be required to meet societal demand for energy?

Picture a state where the smart business workflows execute flawlessly.

The companies involved in delivering the project still share both common and competing goals. The executers are human, each weighed by their own influences. Do we have the required trust in our industry to accommodate all interests across ever evolving project objectives?

This session will explore a pathway to enhance alignment that allows smart business workflows to scale while accommodating the workforce of the future.