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Drilling executive calls for a new course of action to achieve success

EMPOWERING TRANSITION

Nabors executive Subodh Saxena challenged leaders to think more like Generation Z at OTC2023. Photo courtesy of nabors.com

Gone are the days of people, process, and technology. Welcome to purpose, partnering, and governance.

In the early morning hours of the third day of OTC2023, Subodh Saxena, senior vice president at Nabors Industries, succinctly summarized both the challenges and opportunities faced by an industry in the middle of an identity crisis.

The upstream energy industry focused the better part of the last two decades on physical safety, division and clarity of responsibilities, and technology adoption and adaptation. Rightfully so, given the Macondo incident of 2010, the Enron collapse in 2002, and the general wildfire growth of technology in the workplace over the same time frame.

But as leadership that came of age during these tragedies takes the reigns, a new set of challenges arises. Consistent lack of positive financial returns, a shrinking talent pool, and of course, the climate crisis, combine to form the perfect storm for an industry just trying to manage the rising and falling tides of unstable commodity pricing.

To avoid completely capsizing during this squall in which the industry finds itself, Saxena describes three opportunities for improvement.

  • Attracting new talent by creating psychological safety in our workplaces and improving the perception of technology adaptation in the industry
  • Embracing a collaborative approach to building new solutions to limit the amount of siloed rework that currently stymies rapid advancement
  • Improved financial discipline with greater honesty about ROI for the entire supply chain

“We have a mindset in the industry, that we have to build everything ourselves," Saxena laments. "We have to learn to partner because [if] every company invests in new technology to create transition, whether that's hydrogen or any other source of green energy, that return on invested capital is going to become negative. We need to learn to collaborate to ensure that we are all going to be successful.”

The requests made by Saxena represent a growing movement within the incumbent industry to think not of the energy transition as a shift from one energy source to another but as a transition in mindset. Collaboration is the name of the game now, as are mindfulness, responsibility, and above all else, sustainability.

Revisiting purpose, partnering, and governance to identify room for improvement will ultimately determine whether organizations will sink or sail.

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Houston launches Google-backed tool to address urban tree cover disparities

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The oldest national nonprofit conservation organization in the U.S American Forests has launched the Houston Tree Equity Score Analyzer, which was developed through local nonprofit Trees For Houston and local stakeholders from local government, environmental groups and the public health sector, and supported by Google’s philanthropic arm Google.org with a $450,000 grant.

To mark the launch, Trees For Houston and American Forest celebrated the partnership and worked to plant 50 trees at Shadydale Elementary in Northeast Houston on December 6.

“This marks a significant milestone for Houston's urban forestry efforts,” says Texas State Representative Senfronia Thompson at the December 6 event. “This effort goes beyond simply planting trees—it’s about creating the foundation for a greener, more inclusive future for our community. By uniting diverse resources and partners, including American Forests, Google.org and Trees For Houston, we’re showcasing a powerful dedication to enhancing the environmental well-being and quality of life in our urban areas.”

How the analyzer works is it provides auto-generated data on the impact of tree cover alongside demographic data, land use, poverty and other socioeconomic factors to assist with guide planning and investments to grow tree cover. The Houston Tree Equity Analyzer found that Shadydale Elementary has just 9 percent tree canopy coverage, which falls short of the 30 percent canopy goal for the area. The planting will increase the canopy by 6 percent according to a news release. According to American Forests, nearly 80 percent of urban neighborhoods in the United States have inadequate tree cover.

“The Tree Equity Score Analyzer enables communities to take a human-centered, data-driven approach to developing actionable tree planting and protection plans, ensuring they are focusing on areas that need them most, like Shadydale Elementary School,” said Vice President of GIS and Data Science at American Forests Chris David said in a news release.

American Forests is aiming to assist with at least 100 cities to make progress on Tree Equity by 2030. American Forests helped to unlock $1.5 billion, which was the nation’s largest federal investment in urban forestry in the Inflation Reduction Act of 2022.

“We look forward to working with our partners in Houston to continue to grow equitable tree cover in the community with data-driven approaches and action,” David says in a news release.

Photo by Thomas Koenig/Big Pineapple Productions

Houston researches snag fresh funding, SLB's new tech, and more trending energy transition news

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Editor's note: From DOE funding for underground power line research to Zeta Energy's big deal with, these are the top headlines that resonated with EnergyCapital readers on social media and daily newsletter this week.

Houston researchers earn $3.3M in DOE funding to develop safer underground power line installation

Researchers have secured $3.3 million in funding to develop an AI-powered subsurface sensing system aimed at improving the safety and efficiency of underground power line installation. Photo via Getty Images

Researchers from the University of Houston — along with a Hawaiian company — have received $3.3 million in funding to explore artificial intelligence-backed subsurface sensing system for safe and efficient underground power line installation.

Houston's power lines are above ground, but studies show underground power is more reliable. Installing underground power lines is costly and disruptive, but the U.S. Department of Energy, in an effort to find a solution, has put $34 million into its new GOPHURRS program, which stands for Grid Overhaul with Proactive, High-speed Undergrounding for Reliability, Resilience, and Security. The funding has been distributed across 12 projects in 11 states.

“Modernizing our nation’s power grid is essential to building a clean energy future that lowers energy costs for working Americans and strengthens our national security,” U.S. Secretary of Energy Jennifer M. Granholm says in a DOE press release. Continue reading.

Houston company to develop game-changing lithium-sulfur EV batteries for automaker

Zeta Energy's batteries are targeted to power Stellantis electric vehicles by 2030. Image via Zeta Energy

Houston-based Zeta Energy Corp. has teamed up with an automaker to develop new battery technology.

Zeta Energy and Stellantis N.V. announced a joint development deal to advance battery cell technology for electric vehicle applications that will develop lithium-sulfur EV batteries with gravimetric energy density that can achieve a volumetric energy density comparable to today’s lithium-ion technology. The batteries are targeted to power Stellantis electric vehicles by 2030.

“The combination of Zeta Energy’s lithium-sulfur battery technology with Stellantis’ unrivaled expertise in innovation, global manufacturing and distribution can dramatically improve the performance and cost profile of electric vehicles while increasing the supply chain resiliency for batteries and EVs,” Tom Pilette, CEO of Zeta Energy, says in a news release. Continue reading.

SLB unveils AI-powered tech to enhance drilling efficiency and reduce emissions

SLB has introduced Neuro, an AI-driven autonomous geosteering system that optimizes well drilling by responding to complex subsurfaces, enhancing efficiency, and reducing carbon emissions. Photo courtesy of SLB

Houston energy technology company SLB introduced a new autonomous geosteering system called Neuro, which can reduce the carbon footprint of the drilling operations. Neuro can respond to complex subsurfaces to drill more efficiently with higher-performing wells.

Neuro, which is an AI-based platform,expands the technological foundation of SLB’s Neuro autonomous directional drilling, which drills wells to a specific target. Now, the Neuro autonomous geosteering incorporates high-fidelity downhole measurements that ensure certainty of well placement in the best part of the reservoir.

“Neuro autonomous geosteering is a remarkable industry-first achievement that is for drillers what the autonomous vehicle is for drivers,” Jesus Lamas, president of Well Construction at SLB, says in a news release. Continue reading.

Aramco partners to demonstrate compact carbon capture technology for gas turbines

The technology demonstration will be used to deploy Carbon Clean’s novel CycloneCC technology to capture CO2 from natural gas turbine exhaust streams. Photo via Carbon Clean

Integrated energy and chemicals company Aramco has signed a collaboration agreement with Carbon Clean and SAMSUNG E&A in an effort to showcase new carbon capture technology.

The technology demonstration will be used to deploy Carbon Clean’s novel CycloneCC technology to capture CO2 from natural gas turbine exhaust streams containing approximately 4 percent CO2, according to Aramco.

Carbon Clean, which U.S. headquarters are located in Houston at the Ion, boasts technology that has captured nearly two million tons of carbon dioxide at almost 50 sites around the world. Aramco’s U.S. headquarters is also in Houston. Continue reading.

Houston energy tech company scores spot on Deloitte's list of fast-growing businesses

A Houston energy tech company makes the list of fast-growing businesses. Photo via Getty Images

Deloitte’s annual North America Technology Fast 500 list includes a Houston energy tech company boasting 407 percent growth.

NatGas Hub LLC landed at No. 286 on the list, which is an annual ranking of the fastest-growing North American companies in technology, energy tech sectors, telecommunications, life sciences, media, and fintech. It marks an improvement for the company, which provides an automation software for natural gas nominations and scheduling services. In 2023, the company ranked No. 356 with 364 percent growth.

Direct Digital Holdings Inc. took the highest-ranking spot for Houston companies, coming in at No. 101 (up from 108 previous year) with 1,184 percent growth. Additional Houston companies on the list include Liongard (No. 437, 246 percent growth) and Stratus Medical LLC (No. 483, 212 percent growth). Continue reading.

This Houston innovator's innovative corrosion detection tech is vital to the future of energy

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Houston-based Corrolytics approach is to help revolutionize and digitize microbial corrosion detection — both to improves efficiency and operational cost for industrial companies, but also to move the needle on a cleaner future for the energy industry.

"We are having an energy transition — that is a given. As we are bringing new energy, there will be growth of infrastructure to them. Every single path for the energy transition, corrosion will play a primary role as well," Anwar Sadek, co-founder and CEO of Corrolytics, says on the Houston Innovators Podcast.

The technology Sadek and his team have created is a tool to detect microbial corrosion — a major problem for industrial businesses, especially within the energy sector. Sadek describes the product as being similar to a testing hit a patient would use at home or in a clinic setting to decipher their current ailments.



Users of the Corrolytics test kit can input their pipeline sample in the field and receive results via Corrolytics software platform.

"This technology, most importantly, is noninvasive. It does not have to be installed into any pipelines or assets that the company currently has," Sadek explains. "To actually use it, you don't have to introduce new techniques or new processes in the current operations. It's a stand-alone, portable device."

Corrolytics hopes to work with new energies from the beginning to used the data they've collected to prevent corrosion in new facilities. However, the company's technology is already making an impact.

"Every year, there is about 1.2 gigaton of carbon footprint a year that is released into the environment that is associated with replacing corroded steel in general industries," Sadek says. "With Corrolytics, (industrial companies) have the ability to extend the life of their current infrastructure."

Despite having success in taking his technology from lab to commercialization, Sadek made the strategic decision to move his company, Corrolytics, from where it was founded in Ohio to Houston.

"Houston is the energy capital of the world. For the technology we are developing, it is the most strategic move for us to be in this ecosystem and in this city where all the energy companies are, where all the investors in the energy space are — and things are moving really fast in Houston in terms of energy transition and developing the current infrastructure," Sadek says.

And as big as a move as it was, it was worth it, Sadek says.

"It's been only a year that we've been here, but we've made the most developments, the most outreach to clients in this one last year."

Sadek says his move to Houston has already paid off, and he cites one of the company's big wins was at the 2024 Houston Innovation Awards, where Corrolytics won two awards.

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This article originally ran on InnovationMap.

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