2016 50 Best Companies to Watch

Delivering cost-effective solutions for information certainty in the oil and gas industry: EnergyIQ

Headquartered in Littleton, CO, USA, EnergyIQ is a leading provider of information management solutions that create information certainty in an uncertain E&P (Exploration & Production) world. EnergyIQ’s Solutions maximize the value of information, grow trust and confidence in decision making, and lowers the cost of enterprise information. The company’s customers grow business value, stay ahead of the competition, and protect capital.

“When we started EnergyIQ we had one goal in mind—help E&P companies realize more value from huge volumes of information to increase the return from massive investments in exploration and production,” said Steve Cooper, President & Founder.

That meant helping companies organize the huge volumes of data they were acquiring; presenting information in ways the business consumes it; considering how collaborative processes drive data flows beyond a single function and across the entire asset team; systematizing standards and governance to improve data quality and integrity; and perhaps most important, providing methods for preserving and maturing proprietary data, making it a vital asset that drives a competitive edge and the bottom line.

Creating Information Certainty in an Uncertain E&P world
EnergyIQ is helping customers establish a data management solution that integrates information across the life of a well, for all assets, through the enterprise. Companies are turning to EnergyIQ to help automate the daily, data management tasks that are fraught with human error, and enable them to have current, comprehensive, complete, quality, pervasive data to drive better business decisions.

Companies today must focus on business growth while protecting capital. EnergyIQ’s approach is to innovate new technology such that legacy systems can be leveraged to increase ROI and extend the overall lifetime of internal platforms where it can continue to add value. EnergyIQ’s solution uses well-known open standards, such as PPDM’s data model, and various industry initiatives. Additionally, the company provides a robust set of APIs and web services for integration and data access. Finally, it provides a sophisticated abstraction of the data to empower today’s best analytical tools driving more efficient business processes and reducing non-productive time.

Unique Positioning
EnergyIQ is uniquely positioned as one of the few providers of master data management (MDM) solutions focused solely on the E&P industry. As the industry is going through a massive change in the commodity price, it is also going through a massive changeover in personnel. Companies have been running fast with high margins for years, and now must restructure and focus on the assets that can return a profit, while slashing capital budgets by as much as 75% or more.

Why EnergyIQ

  • EnergyIQ is solely focused on the unique challenges of Upstream E&P, unlike others with generic horizontal solutions.
    The company has a patent pending approach to build the Well Hierarchy (Well Origin, Wellbore, Wellbore Completion) within the data, providing the user with a logical data model that represents the physical reality. Most other solutions are only focused on the wellbore completion.
  • EnergyIQ is based on the open industry standard database schema: PPDM.
  • It provides both corporate well data master and geoscience data master solutions.
  • The company has a rules based approach to validate the quality of data and blend data from multiple sources into a golden record.
  • It provides a broad set of web services and APIs for integration to legacy systems.
  • EnergyIQ provides a series of pre-packaged solutions to quickly realize ROI and positive business impact.

The EnergyIQ Trusted Data Manager
EnergyIQ’s Trusted Data Manager (TDM) manages multiple sources of data and presents a single, most comprehensive view of the data to an organization. Built on a unique Well Hierarchy-based approach, TDM provides easy access to the most trusted data upon which to base business decisions.

End-to-end performance data, across all assets, provides real-time, information-based decision certainty— from an individual well to a complete business view. EnergyIQ’s TDM is designed, developed, tested and proven to create confidence and trust in E&P data, by establishing the foundation for decision confidence.

Along with the TDM Solution, EnergyIQ has developed a number of IQaccelerators that assist in loading, validating, managing, and sharing the most valuable asset—E&P data. The IQaccelerators build upon the TDM foundation to bring extended data and information value and benefit. IQaccelerators are valuable extensions to TDM and help capture, validate, inspect, explore and report critical E&P information.

EnergyIQ solutions are designed, tested, and proven to enable upstream E&P companies drive business growth, beat the competition, and protect capital. BP, Marathon Oil, Devon Energy, Anadarko Petroleum, Apache Corporation, Chesapeake
Energy, etc. are some of the company’s notable clients.

Looking at the Future
EnergyIQ will continue to focus on Upstream E&P companies. “We will continue to expand the overall solution set to include more capability in terms of business workflows, further automating business system integration, and managing additional critical data types,” said Steve.

Meet the Management Team

Steve Cooper, President and Founder – Steve has 20 years of experience in E&P information management. Dr. Cooper spent 14 years with Petroleum Information and IHS on the energy management side of the business. During this time, he held the position of CTO with responsibility for infrastructure, development, and global data accumulation systems. In late 2007, Steve started EnergyIQ to provide E&P domain and technical expertise to help companies manage their data to meet the needs of the business.

Mike Haden, Head of Development – Mike has over 20 years’ experience in Application Development, Project/Product Management, and Global Product Development. Throughout his career, he has delivered complex data analysis tools to the demanding oil and gas industry. Mike has experience in bridging the business and technical domains, balancing the communication needs of multiple stake-holders, and aligning project teams to the end-user.