Cameron Chell Calgary have the privilege of being a part in creating and building incredible products and businesses. I work closely with executives, investors, and other entrepreneurs to decide what is most important. This includes Product Development and Strategy, Product Development, Strategic Planning as well as Team Alignment, Execution, Measurement.
Sometimes, it’s not possible to improve on something that has worked for centuries. It can be difficult to create something entirely new, especially for businesses with a lot of static processes and models.
In Oil and Gas exploration and oil extraction, staged enhancements to existing solutions are often called innovations. If you combine all of these innovations over a period of ten years, the industry has legacy infrastructure. This legacy infrastructure is loaded with numerous bolt-on solutions. Each solution is engineered to work in conjunction with aging technology to improve efficiency and coexist.
This isn’t the fault for those trying to innovate for their industry. Each person is simply playing the current game. This isn’t the right way to encourage innovation in an industry that is desperately in need of them.
Knowing where to start: Before metal hits the ground
Raptor Rig is an innovative drilling company. It was founded in Calgary Alberta. It is a pioneering drilling platform that employs a Simultaneous Connection System.
The Raptor Rig’s founders, Reg Layden (design and engineering) and Richard Havinga (business and finance specialists), were acutely aware of the fact that the best solution didn’t always work. But their combined experience shows that it was companies who had looked beyond solving micro-pain points that had disrupted or reshaped industries.
Raptor Rig closely examined what operators were looking to achieve an end result. The Raptor Rig team hoped to use that intelligence in order define the specifics for their product. Not only did oil producers have many problems, but they also had aspirations for the future.
The main problem for most operators was, as you might have guessed, how do you extract oil at a lower rate, how can you find significant increases in operational efficiency, and how can safety records be improved – all while being efficient.
Same problem, different answer
While the basic activity of bringing crude oil to the surface does not change, it is essential that it be done faster, more efficiently, and at a lower cost. It is similar to trying to get a classic car to run on electricity, and then looking for the efficiencies required to be competitive and sustainable in this new market. This is simply not possible with the majority of legacy technology found in the oil patch. Raptor Rig founders understood that for the industry to see the desired level of change, they had to invent from scratch and create something new.
A company’s ability to profit from an industry tipping point is often a key factor in its success. Understanding your customer/market and knowing where the best minds, technological innovation, and technology can be used to make this happen is key.
A New Perspective
It is hard to break from the legacy practices and technologies of the past, but a fundamentally different industry dynamics requires a new and innovative approach for building a sustainable model.
Raptor Rig Team saw it as a necessity to dismantle the old drilling equipment model. Instead of a choice, they had to do so because they needed to examine the whole picture and be able innovate for the long term rather than just the short term. The end result is an advanced, next-generation drilling machine that is capable of operating in any ecosystem with maximum efficiency. It is ultimately designed to assist oil producers in sustaining their businesses well into the future.