Deal-Making, Market Transition And Digital Solutions For Canada’s Oilpatch – Q&A With geoLOGIC’s David Hood
Earlier this month, geoLOGIC systems ltd. completed the acquisition of JWN Energy — publishers of the Daily Oil Bulletin — a move that creates a powerful energy intelligence combination by bringing together two of Canada’s leaders in oil and gas data, news, insights and analytics.
For chief executive David Hood, the deal signals an intent to cement geoLOGIC’s market leadership in the WCSB and nationally within Canada, while expanding into new sectors at the forefront of future client needs as global energy markets transition.
The DOB met online with David to learn more about the acquisition, his views on the market transition, and the digitization of oilpatch operations.
Q. The Canadian oil and gas sector is undergoing huge transition. In what ways are you seeing operators innovating and making productivity gains?
“Canadian operators continue to be resilient and innovative during this period of huge disruption to energy markets. We’re witnessing a sustained drive to continue improving industry processes, technologies and techniques. New methods of working — on-site and remotely — and new technologies are being examined by many of our customers. Operators are continually looking for new methods to improve productivity, and our data plays a key role in helping support their key business decisions.
“The digitization of processes within operations, and the need for a trusted ‘single source of data’ upon which business decisions can be made by operators across multiple locations and time zones, are changing the way we need to deliver information. At geoLOGIC our large datasets are the default standard for Canadian operators. We enable these exciting, leading-edge conversations, and we will be deeply engaged in them.”
Q. How is the energy transition globally reflected in geoLOGIC’s strategy?
“The past year has accelerated conversations around energy transition and the role that oil and gas will play, especially where these conversations focus on future demand and considerations related to emissions control, climate change, ESG and investment. We want to ensure we are very well positioned to support our clients as they navigate these dynamics.
“We’re very supportive of efforts by Canadian industry to address changing perceptions about energy production and consumption. Notwithstanding the industry’s need to keep evolving, we have unwavering confidence in the future of the WCSB and the companies operating here. From a geoLOGIC perspective, and following the JWN merger, I do see clearly the benefits of harnessing the data we hold within the combined group to provide an even more comprehensive picture to clients of ESG-related requirements and solutions.”
Q. What possibilities does the JWN Energy deal create?
“At geoLOGIC we have been part of the oil and gas eco-system for almost 40 years. We have built our geoLOGIC business on trust. So, too, has JWN Energy, with its connectivity to the oilpatch. The need for trusted, comprehensive business information is greater than ever. The JWN deal reflects our desire to be deeply involved in, and supportive of, vital conversations taking place within Canada and internationally that relate to the future of oil and gas, as well as related energy solutions.
“Canada has a great story to tell in terms of its trusted technologies, regulatory robustness and the high degree of skills within its oil and gas workforce. These elements are worthy of greater focus in order to support inward investment, and can be solutions for export.
“The Daily Oil Bulletin is a vital vehicle for sharing and amplifying these supportive themes. JWN also delivers access to analysts focused on daily updates to global company financial and operating data. They’re located in London, U.K., under the Evaluate Energy brand. This deepens our bench strength in terms of analytical talent, as well as providing immediate time-zone efficiencies in terms of product updates and new customer outreach.”
- Corporate Announcement