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Analysis

A must-read new book on the oil and gas industry

Bits, Bytes, and Barrels: The digital transformation of oil and gas

In “Bits, Bytes, and Barrels: The digital transformation of oil and gas,” authors Geoffrey Cann and Rachael Goydan lay out the current landscape for digital technologies in the energy business. Their years of practical experience provide valuable advice on how progressive energy leaders can turn disruptive challenges into a generational opportunity.

What’s the latest book on oil and gas about? An industry at a crossroads

Recent low prices, rapidly growing alternative fuels like renewables, the permanent swing from peak oil to superabundance, shifting consumer preferences, and global pressures to decarbonize suggest a challenged industry for the foreseeable future. Digital advances offer ways to lower costs of production, improve productivity, reduce carbon emissions, and regain public confidence. A wait-and-see attitude to digital innovation has failed many industries already, and the leaders of oil and gas urgently need guidance on how digital both disrupts and enhances their industry.

Written by two of the world’s leading experts on the intersection of digital technologies and the oil and gas industry, Bits, Bytes, and Barrels sets out the reasons why adoption is slow and describes the size and scale of both the opportunity and the threat from digital disruption. This book on oil and gas also identifies the key digital technologies and the role that they play in a digital future—and recommends a set of actions for leaders to take to accelerate the adoption of digital in the business.

Providing an independent and expert perspective, Bits, Bytes, and Barrels addresses the impacts of digital across the breadth of the industry—from onshore to offshore, and from upstream to midstream to integrated—and outlines a roadmap to help the decision-makers at all levels of the industry take meaningful action toward promising and rewarding digital adoption.

Bits, Bytes, and Barrels: The digital transformation of oil and gas

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Technology, innovation, and business model changes are impacting industry at a rapid pace—yet in some cases, not fast enough. Bits, Bytes, and Barrels is an excellent primer on existing and future innovation levers that the energy sector can incorporate to improve adaptability and competitiveness. Important reading for boards, the C-suite, and those looking to understand how technology can move the needle or stand-up effective internal innovation. I highly recommend this book.

— Samantha Stuart, vice president of strategy and corporate development, TransCanada

Excerpts from chapter one: “What is digital?”

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