Explore every episode of the podcast Hart Energy Podcast

In this exclusive roundtable, executives from Enverus, KPMG and Rystad Energy discuss key trends, opportunities and challenges that are expected to shape ESG in the oil and gas sector in 2022.

From increasing disclosures to stronger investor sentiment, the past year saw an expected upward growth of ESG initiatives taken by the oil and gas sector. While many are calling 2021 the year of ESG investing, there’s little debate left about ESG now being core to the energy business.

Jason Reimbold, managing director of energy investment banking at BOK Financial, gives his take on the state of energy finance and dealmaking plus a preview of oil and gas activity from the Midcontinent region.

Despite entering another pandemic year, the state of energy finance is definitely brighter than it has been—even pre-COVID, according to Jason Reimbold, managing director of energy investment banking at BOK Financial.

“In fact, the volatility is really what speaks to the opportunity,” Reimbold told Hart Energy Editorial Director Len Vermillion.

In this exclusive interview, Rystad Energy Head of Shale Research Artem Abramov sheds light on flaring trends and what’s driving declines in the Permian Basin and Bakken.

Gas flaring hit a record low in the U.S. last fall—a trend that Artem Abramov, head of shale research for Rystad Energy, expects will continue.

“Based on what we hear from some E&P companies when we talk to them, I have a high degree of confidence that gas flaring will continue to decline in the next two to three years,” Abramov told Hart Energy in an exclusive interview.

Cleantech is expected to remain a dominant investment theme among oil majors as sustainability and ESG become more prominent features of company strategies.

Roughly a decade ago, oil and gas majors began launching corporate venture funds dedicated to nudging innovation in clean energy.

While the original goal was to outsource R&D efforts, achieve operational efficiencies and improve profitability, these venture funds have helped oil majors navigate the challenges of a broader energy transition and achieve ESG goals, Samuel Dibble, partner at Baker Botts, told Hart Energy.

Digital experts offer deep insights on how remote operations, IoT and digital twins are evolving in today’s fast-changing environment.

As the oil and gas industry adapts to its new reality, new technologies are playing a key role in helping companies make better data-driven decisions. In an exclusive roundtable discussion, senior executives of digital agreed that advancements in AI, augmented reality and data management are all driving the transformation of the industry as it transitions to a low-carbon future.

Shan Jegatheeswaran, Vice President of Digital, Oilfield Services, Baker Hughes

Sujit Kumar, President, Agora, a Schlumberger venture

Stuart Thomson, CTO, Ikon Science

Gino Hernandez, Head of Global Digital Business, ABB

Future of remote operations (0:56)

Digital twins and asset optimization (6:28)

Digitalization and decarbonization (9:59)

Why is data management so important right now? (14:40)

Future trends (21:37)

In an exclusive roundtable discussion, executives offer expert insights on the road map to net-zero emissions and the immediate actions required from governments and businesses. 

How realistic is the net-zero goal? (0:44)

Progress toward the goal (4:54)

IEA’s report findings (10:30)

Challenges on the path to a net-zero future (13:00)

New technologies for decarbonization (17:21)

In this roundtable, offshore experts provide insights on how new technologies are opening the door to a new era of productivity and efficiency in offshore exploration.

Considering the reality of continued oil and gas demand for decades to come, the offshore exploration sector will play a key role in providing the abundant, affordable and reliable energy that the global economy needs.

In an exclusive roundtable discussion, senior executives of offshore discussed how the offshore exploration sector is well-positioned for the energy transition as it continues to be a source of innovation and new technologies that will help drive the industry’s decarbonization efforts.

In this exclusive video interview, Diamondback Energy CFO Kaes Van’t Hof talks about the growing sustainable operations of oil and gas companies in the Permian Basin.

As ESG-focused activism continues to gain momentum, there is increasing pressure on oil and gas companies from investors to focus on ESG goals. But even though social and governance are an important part of the ESG movement, investors are more concerned about the environmental performance of oil and gas companies, according to Kaes Van’t Hof, CFO and executive vice president of business development of Diamondback Energy.

“When we talk about ESG, I think the ‘S’ and ‘G’ are important, but for oil and gas, it’s really about your environmental performance that drives a lot of the investor demand,” Van’t Hof said in an exclusive interview with Hart Energy’s Faiza Rizvi.

There are a few trends emerging among operators when it comes to managing methane. Darcy Partner’s Jack Blears discussed everything from the low-hanging fruit to the sophisticated technology enabling the industry to lower its emissions.

Jump to a topic:

Finding and eliminating super-emitters (0:35)

Limits and cost boundaries (1:00)

Continuous monitoring technology (1:35)

How investors evaluate ratings and reports (2:10)

Holistic ESG ratings (2:35)

James Curry, managing shareholder in Babst Calland's Washington, D.C. office, says the topics of hydrogen and carbon capture in the energy sector are qualitatively different this time around.

Every 10 years or so, people get excited about the potential for hydrogen and carbon capture utilization and sequestration. Most of the time, the conversations sizzle out and the industry gets back to what it is comfortable doing. This time, however, James Curry, energy attorney and managing shareholder of Babst Calland's Washington, D.C. office, says the conversations seem much different.

He recently sat down with Hart Energy's Len Vermillion in the firm's Pittsburgh headquarters for a frank discussion on the energy transition, including the role of pipelines, hydrogen and CCS in the future energy mix.

The energy industry is at an inflection point and a moment of resiliency as it experiences a rebound in pricing and recovers from the impact of the global pandemic.

In this IndustryVoice video, Babst Calland attorneys Joe Reinhart, Co-Chair of the firm’s Energy and Natural Resources team; and Jim Curry, Managing Shareholder of its office in Washington, D.C., discuss a range of topics examined in the report with Hart Energy Senior Editor Joe Markman.

Ajay Bakshani, co-author of East Daley’s annual Dirty Little Secrets midstream outlook, discusses the expectations for $90 billion in free cash flow and why ‘midstream can really do it all in the next few years.’ 

Ajay Bakshani, capital markets analyst for East Daley and a co-author of the report, said the sector was primed to generate about $90 billion in cash over the next four years, based on research on the 25 companies the firm actively follows. The question for the East Daley team became: with fewer projects, how will that money be used?

With 2021 soon coming to a close and commodity prices having stabilized, the theme of the oil and gas industry can be described as cautious optimism.

Shareholder focus, new investment options as well as the experience with the last downturn has given U.S. shale producers a different perspective this time around, according to Amy Chronis, vice chair, U.S. oil, gas and chemicals leader, Deloitte.

“They are now pivoting toward a new math, maximizing free cash flows from hydrocarbons, investing in the decarbonization of hydrocarbons, new energies and certainly very aware of all the stakeholder pressure,” Chronis said.

Joined by Kate Hardin, executive director for the Deloitte Research Center for Energy & Industrials, Chronis recently spoke with Hart Energy’s Brian Walzel about Deloitte’s 2022 outlook for the oil and gas industry including the five key trends that the firm believes will likely influence the industry over the next 12 months.

The new world order of the oil and gas industry surrounds a low-carbon and/or new energy focused business model. And, as capital allocation for these projects grew significantly in 2021, this implies favorable economics for low-carbon producers in 2022.

Nicholas Fulford, the senior director of energy transition for petroleum consulting firm GaffneyCline, said net-zero commitments from all supermajors and most NOCs paired the introduction of new tax credit incentives indicates a new horizon for oil and gas portfolios going into 2022.

“We’ve seen carbon capture and CCUS projects come to age and there is a real following now within the investment community and a real belief in that technology going forward,” Fulford said.

Even though oil and gas companies are increasingly focusing on reducing the environmental impact of their operations with aggressive efforts centered on the narrative of energy transition, they aren’t going to move away from fossil fuels, at least over the next few decades, according to Dr. Jerry Bailey, director of Petroteq Energy and former president of Exxon Arabian Gulf.

“Oil companies are not going to move from oil, that’s what got them where they are,” Bailey said in a recent interview with Hart Energy’s Faiza Rizvi.

“Oil companies have an important and lucrative niche in this regard. There is no reason to transition away from that. There are enough companies working in the other arenas that can cover those types of things,” he said, referring to renewable energy.

After spending decades focused on production growth, oil and gas companies transitioned to a free cash flow model in recent years to boost their financial performance and now it appears investor demands are changing again.

“Firms representing over $100 trillion of assets under management have signed up for responsible investments, stating they will consider ESG when allocating capital,” said Manuj Nikhanj, president of global energy data analytics and SaaS technology company Enverus.

With increasing pressure to fight climate change, scientists and leaders agree that carbon capture, use and storage (CCUS) is a cost-effective solution to meet emissions goals made under the Paris Agreement.

Although aggressive efforts are needed to meet the net-zero goal, oil and gas companies are making significant progress in deploying CCUS projects at scale, according to JP Brisson, partner at Latham & Watkins’ law firm.

“More than 30 [CCUS] projects are in operation globally with more than 40 under development,” Brisson said in a video interview with Hart Energy’s Faiza Rizvi, adding that U.S. oil and gas companies are well-positioned to make progress in the area.

“There are several reasons for this,” he said. “First of all, U.S. is a leader in CO2 injection and sequestration. Companies in the U.S. have been injecting CO2 since the 1970s, which builds credible extensive capability.”

As the Biden administration in the U.S. and governments throughout the world decarbonization push has spurred a renewable boom, which has created both obstacles and opportunities for the oil and gas space.

With a large amount of capital flowing into the renewables space, the energy industry has responded in a number of different ways, according to Cliff Vrielink, partner in Sidley Austin’s energy practice group.

“Of course, some of the larger supermajors have developed other strategies and are also investing in the renewables space but for the most part I think the industry has been focused on trying to reduce their carbon footprint,” Vrielink told Hart Energy’s Emily Patsy.

Chris Romer describes himself as not only head of an ESG data company that he helped launch but also the leader of a broader movement across the oil and gas industry as well.

“The movement of Project Canary because we are a project and we welcome you to join us in giving the emissions ‘the bird,’” Romer, co-founder and CEO of Project Canary, recently told Hart Energy.

The company, Project Canary, is a Denver-based start-up at the heart of the responsibly sourced natural gas (RSG) push with a growing number of partnerships with companies across the upstream, midstream and utilities space to provide continuous emissions monitoring and independent RSG certification.

If there is one person who has played a significant role in expanding Baker Hughes’ sustainability performance and ESG reporting, it’s the company’s vice president of energy transition Allyson Anderson Book, who also chairs the ESG steering team at Baker Hughes.

Book was recently named ESG Champion at Hart Energy’s ESG Top Performers Awards program for her outstanding contribution toward broadening Baker Hughes’ sustainability reporting frameworks and her active involvement in the creation of the company’s net-zero roadmap.

With a growing focus on climate change, oil and gas companies are increasingly no longer attracting investments solely based on their ability to generate returns but also how environmentally responsible they are while generating those returns.

“The investor community is ultimately seeing a change in risk profiles of the oil and gas companies they are investing in and a growth opportunity, of course for ‘greener’ forms of energy,” David Linden, head of energy transition at Westwood Global Energy Group, told Hart Energy.

In this exclusive interview, Chris Wright, CEO of Liberty Oilfield Services, shares details from the company’s inaugural ESG report plus the campaign to increase awareness of the benefits of oil and gas that went viral.

In an exclusive interview, Wright told Hart Energy’s Faiza Rizvi that there has been a lot of dialogue around the negative impacts of the oil and gas industry, which are “real and should be acknowledged.” However, he also stressed the need to understand the benefits of the oil and gas industry and how plentiful and affordable energy is absolutely critical across several industries including health care and transportation.

After spending decades focused on production growth, oil and gas companies transitioned to a free cash flow model in recent years to boost their financial performance and now it appears investor demands are changing again.

“Firms representing over $100 trillion of assets under management have signed up for responsible investments, stating they will consider ESG when allocating capital,” said Manuj Nikhanj, president of global energy data analytics and SaaS technology company Enverus.

Even though everyday the number of oil and gas companies publishing sustainability reports grow, ESG targets aren’t new to the industry, according to Christopher Valdez, CEO of PureWest Energy, a private E&P company focused on the production of natural gas in Wyoming.

“Commitment to the community, safety and environmental stewardship—these are core values for PureWest but also shared broadly throughout the industry,” Valdez said.

“I think it’s just something that we need to change the narrative and make sure that message is getting out in the marketplace,” he added.

Aggreko, which set its own net-zero target, helps oil and gas operators achieve sustainability goals by providing power solutions and energy services aimed at improving the efficiency of the operations. Haugan, who serves as sector manager for Aggreko’s North America oil and gas group based in Houston, recently sat down with Hart Energy’s Emily Patsy to discuss what operators can do in the field to boost their ESG scorecard plus how Aggreko can help.

During the interview, Haugan noted the Sustainability Accounting Standards Board (SASB), which publishes specific accounting standards to help companies navigate ESG reporting goals. To align with the industry standards, he said producers could focus their sustainability efforts where they have the greatest impact on the SASB metrics including greenhouse-gas emissions, air quality, water management and biodiversity.

When it comes to ESG, it’s important to remember the golden rule: “Whoever has the gold makes the rules.”

“ESG is part of being a U.S. public company, especially in the energy industry now, so embrace it and get on board,” said Hillary Holmes, partner in the Houston office of Gibson, Dunn & Crutcher LLP who also co-chairs the firm’s capital markets practice group.

Holmes recently sat down with Hart Energy’s Emily Patsy to discuss the ESG movement and what opportunities exist for oil and gas companies, including the emergence of sustainability bonds.

How to get public and private capital back  to the oil patch? This expert share what’s on investors’ minds and how  E&Ps are solving for it.

SPEAKER(S):

Tom Petrie, Chairman, Petrie Partners

Chris Wright was a leader in the 1990s on  tight-rock experiments that transferred to unlocking the Barnett Shale  and now the U.S. is a leading world oil and gas producer again. Here, he  takes us to school on what’s next and provides insight into Liberty OFS  plus Schlumberger’s completions business unit.

SPEAKER(S):

Chris Wright, CEO, Liberty Oilfield Services

Producing reserves at the northern end of the Delaware Basin, this E&P describes its development program and plans.

SPEAKER(S):

Michael Hale, Vice President, Exploration, Novo Oil & Gas LLC

This session was recorded on January 27, 2021.

This operator is focused on maintaining its  production levels with a slimmed-down capex budget and judicious mix of  new wells and DUC well completions.

SPEAKER(S):

Daniel Rohling, Executive Vice President & Chief Operating Officer, Battalion Oil Corporation

This session was recorded on January 27, 2021. 

Texas Railroad Commissioner Christi  Craddick provides an update on current RRC regulations and upcoming  issues the RRC plans to address.

SPEAKER(S):

Christi Craddick, Chairman, Railroad Commission of Texas

Former PESA President Leslie Beyer talks to Hart Energy about the combination of PESA and AESC to form The Energy Workforce & Technology Council.

Watch the video interview here: 

https://bit.ly/3jood1l

PATH FORWARD: Future of Oil and Gas Investments Under Biden’s Climate Policy

U.S. needs substantial investments in production to maintain current oil consumption, says Paul Goydan, Houston-based head of Boston Consulting Group’s North American energy practice.

Watch the video interview here: 

https://www.hartenergy.com/exclusives/path-forward-future-oil-and-gas-investments-under-bidens-climate-policy-192158

Angie Gildea, who was recently named the U.S. national sector lead for KPMG’s energy business, sat down with Hart Energy’s Jessica Morales to talk about key areas the oil and gas industry should focus on in the year ahead.

Click the link here to watch the full interview. PATH FORWARD: KPMG’s New US Head of Energy Angie Gildea on Navigating 2021

From an improving gas market to international opportunities and a new energy workforce, a panel of veteran analysts in the oil and gas industry discuss what to expect from the sector in 2021.

WPX Energy has added 1,500 gross drillable  locations on 58,000 net acres of oily, overpressured Delaware Basin in  one of the Permian's largest deals. Hear details of the combined WPX  portfolio, DSU achievements and plans.

Moderator:

Richard Mason, Chief Technical Director, Hart Energy

Speaker:

Clay Gaspar, President & Chief Operating Officer, WPX Energy Inc.

Curtailing some 225,000 bbl/d of production  in the second quarter, 65% of it from the Lower 48, ConocoPhillips  began returning some wells to sales in July. During the gap, its strong  balance sheet still net shareholder value. Here’s a look into this  leading operator’s plans for going forward.

Moderator:

Steve Toon, Editor-in-Chief, Oil and Gas Investor

Speaker:

Matt Fox, Executive Vice President & Chief Operating Officer, ConocoPhillips

Having picked up both the Alta Mesa and Kingfisher portfolios,  Mach Resources, in partnership with Bayou City Energy, has grown to  58,000 boe/d with interests in more than 5,700 wells and some 500,000  net Midcontinent acres. Here are the details.

MODERATOR:
Nissa Darbonne, Editor-at-Large, Oil and Gas Investor

SPEAKER:
Tom Ward, Founder & CEO, Mach Resources LLC

Continental Resources Inc.’s founder is buying through the  downturn, adding 4.7 million shares to his holding in the  1.7-million-net-acre U.S. unconventional-resource power player. He plans  to add even more. Here’s his take on 2020 events and his outlook for  American oil’s leading role at the global supply table.

MODERATOR:
Nissa Darbonne, Editor-at-Large, Oil and Gas Investor

SPEAKER:
Harold Hamm, Founder & Executive Chairman, Continental Resources Inc.

Sandy Esslemont had the unenviable task of  taking the reins of Parker Drilling just as the world was shutting down  from the COVID-19 pandemic, which led to destruction in demand and a  historic oil market crash.

Good thing he has 37 years of experience and an optimistic attitude to rely on.

“We have some pretty lofty goals at Parker over the next five years,”  Esslemont told Hart Energy Editorial Director Len Vermillion. “They may  be in a holding pattern in 2021 but I see the ability for us to  reorganize into a much more nimble organization to take advantage of  what we think is going to be an upturn in 2022 and thereafter.”

Esslemont was named as president and CEO of the international  provider of drilling services and rental tools to the energy industry on  March 23 after an extensive search for the replacement to the recently  retired Gary Rich. He recently paid a visit to Hart Energy’s  headquarters in Houston to discuss his new role plus the path forward  for Parker Drilling and the oil and gas industry as whole.

• Reason behind joining Parker Drilling (0:35)
• Strategy following COVID-19 (1:25)
• Industry optimism (3:39)
• Building Parker Drilling’s niche (4:30)
• International markets (5:55)
• Technology and innovation (6:38)
• Data analytics (9:07)
• Workforce solutions (9:37)
• Outlook for OFS opportunities (10:14)
• ESG and climate change (11:34)
• Oil and gas in the future energy mix (13:04)

Digital technologies are helping to  transform the landscape for oil and gas operators as well as increase  efficiency in a time when the industry is increasingly expected to “do  more with less.”

Hege Skryseth, president of Kongsberg Digital AS—a company at the  forefront of bringing digital twin technology, in particular, to the oil  and gas industry—recently sat down with Hart Energy to  discuss leveraging digital technologies, including the benefits and  roadblocks.

“Technology is the fundamental building block to actually drive  change,” said Skryseth, who also discussed Kongsberg Digital’s recent  partnership with supermajor Royal Dutch Shell Plc that includes its new Kognitwin Energy dynamic digital twin service platform.

• Remote operations and automation (0:35)
• Steps for successful digital adoption integration (1:50)
• Roadblocks in the digital transformation process (2:49)
• Kognitwin Energy digital twin software (3:46)
• Advancing mature assets (6:08)
• Future of AI, remote sensing & big data (7:19)
• Industry’s path forward (8:57)
• Kongsberg Digital promo (9:30)

The Society of Exploration Geophysicists (SEG) is celebrating its  90th year with its first-ever all-virtual annual meeting and  international exhibition from Oct. 11-16.

Bill Abriel, former president of SEG who will chair the Business of  Applied (BAG) sessions at the event, joined Hart Energy’s Faiza Rizvi to  discuss this year’s key topics including CO₂ storage and the business  climate of the oil and gas service sector.

Particularly, Abriel, an industry veteran with over four decades of  international experience with Chevron Corp., also spoke about the  importance of geophysics on the business side of the industry.

“Geophysics is the eyes and ears of what you can’t see in the  subsurface…we provide this direct measured information about what’s  going on in the subsurface,” he said. “BAG sessions have more to do with  the commercial forces at work…what are the business forces that make a  difference. It isn’t taught in universities, you get this experience  when you are in the industry. These are not tech sessions but they are  interesting and important questions about what we’re trying to  accomplish for the business and applied geophysics.”

As for how to navigate the current challenges of the industry, Abriel  also explained how companies can undertake measures like cost-cutting,  adopting new technologies and consolidation.

The BAG sessions begin at 8:30 a.m. Oct. 13 and run until Oct. 14. For more information visit SEG.org/AM/2020/event/detail/bag-sessions. The full conference agenda can be found at SEG.org/AM/2020/event/all.

• SEG 2020 Annual Meeting (0:26)
• BAG sessions (3:36)
• Changing business climate (7:13)
• New technologies in geophysics (10:09)
• Future of exploration (13:47)
• Path forward (16:12)

Range Resources Corp. recently put itself on the forefront of the  growing discussion around ESG after the Fort Worth, Texas-based  independent E&P company became one of the first shale producers to set a net-zero emissions target.

A natural gas and NGL producer with operations focused in the  Appalachian Basin, Range said it is already a leader in emissions  reductions among its peers. However, in late August, the company  announced plans to further those emissions reductions by targeting  net-zero greenhouse gas emissions by 2025.

Following the announcement, K. Scott Roy, senior vice president of  Range Resources, joined Hart Energy Editorial Director Len Vermillion to  discuss the U.S. shale producer’s net-zero ambitions and why Range  believes natural gas will be an important part of the mix in the energy  transition.

“Rather than the theory that suggests that the only way to address  the environmental issues of the day is to exclude fossil fuels as part  of the mix,” Roy said, “we think that the facts bear out that increased  use of responsibly produced natural gas has actually improved the  environment while continuing to offer sustainable, low-cost energy  option.”

• Why now set the net-zero target? (0:30)
• Taking the lead among U.S. shale producers (3:05)
• Range Resources’ plan (4:05)
• Sustainability achievements so far (6:30)
• Future technology investments (9:45)
• ESG’s  importance going forward (11:25)

Jasper Ventures Inc. has seen its fair share of downturns, according to President Brent Japser.

The Texas-based midstream services provider and its affiliates’  history dates back to 1992 when Jon Jasper formed its predecessor  company, Engineering, Procurement and Construction (EPC). The Jasper  family of companies currently includes Veritas Gas Processing, Vulcan  Field Construction, Vanguard Processing Solutions and Viking Dew Point  Conditioning.

“We are 100% family-owned with no financial partners—that definitely  helps our financial position,” Jasper told Hart Energy’s Jessica Morales  in a recent interview. “Then we get to make all of the decisions that  are important for company survival in times like this.”

As part of an effort to provide its customers in the midstream  business more comprehensive services, EPC was restructured in 2016 into  the current Jasper Ventures family of companies.

“Jasper Ventures has been involved primarily in installing gas  processing facilities and we do that through two of our main operating  companies,” Jasper said. “We also have plant operating services and then  we have a fleet of MRUs (mechanical refrigeration units) that we  lease.”

As for the dual shock in 2020 of COVID-19 and a price collapse,  Jasper said the company has been able to maintain a strong balance sheet  so far this year.

“From a cash flow standpoint, the first half of the year was not  terrible,” he said. “We were completing a back-log of projects through  the first and second quarters that we had built up in 2019.”

“The second half of the year is going to be much tougher for us than  the first, as it is for a lot of companies,” he continued. “In early  March, most of our prospects were indefinitely placed on hold and we had  quite a few things on the horizon at the time. So, our business really  literally changed overnight.”

• Jasper Ventures history (0:42)
• Strong balance sheet (2:23)
• 2020 downturn (3:26)
• Traditional calling card (4:40)
• Gas versus oil (6:52)
• Industry’s path forward (8:35)

Adapting quickly to the “new normal” from  the coronavirus pandemic, Honeywell Process Solutions has rolled out  several new technologies centered on remote operations for oil and gas  companies.

Embracing new technologies is no longer an option for oil and gas  operators, but rather a necessity, according to Jason Urso, CTO of  Honeywell Process Solutions, who explained this has accelerated the  digital transformation within corporations across the upstream industry.

“With the onset of the crisis, we found our customers asking some  very fundamental questions: How can we operate safely with less  proximity to one another? How can we continue moving capital projects  without having people travel? How can we service existing equipment in  operation while minimizing people coming on site? This triggered a new  set of introductions for Honeywell, oriented around remote project  execution, remote operations and remote services,” Urso told Hart  Energy’s Jessica Morales and Faiza Rizvi.

Data analytics, in particular, plays a very fundamental part in the  next inflection point of the industry, which he said oil and gas  producers need to recognize.

“The power of data when interpreted, analyzed and then acted upon in  different ways can allow us to genuinely see a new step-change  improvement, both in terms of getting better process performance as well  as significant improvement in reliability,” he said.

• Remote technologies during downturn (0:40)
• Upstream adapting to the “new normal” (2:06)
• Data analytics in a post-pandemic world (4:06)
• Recent trends in technology (8:25)
• Path forward (15:12)

Leaders from the “Big Four” accounting firms—Deloitte, EY, KPMG and  PwC—joined Hart Energy for a deep discussion on the ongoing energy  transition and the different approaches to ESG within the oil and gas  industry plus how COVID-19 is accelerating the digital transformation.

Leaders from the “Big Four” accounting firms—Deloitte, EY, KPMG and  PwC—joined Hart Energy for a deep dive on the oil and gas industry’s  changing landscape following such an unprecedented first half of 2020.

Speakers in this wide-ranging discussion include:

• Katie Pavlovsky, Global Energy, Resources and Industrials Industry Leader, Deloitte;
• Deborah Byers, Partner and Americas Industry Leader, EY;
• Regina Mayor, Global and U.S. Head of Energy and Natural Resources, KPMG; and
• Niloufar Molavi, Global Energy Leader, Partner, PwC.

A deep decarbonization of the world’s energy system  is still 15 years away, DNV GL said in its recently released 2020  Energy Transition Outlook, with carbon emissions set to remain high  until the mid-2030s.

Liv Hovem, CEO, DNV GL – Oil & Gas, discussed the conclusions of the 2020 Energy Transition  Outlook with Hart Energy, explaining that energy transitions will occur  at different rates in different parts of the world.

“The share of renewables will increase from 26% in  2018 to 63% in 2050, which is a big shift,” Hovem said. Most of that  increase will come will solar and wind power as global demand for  electricity doubles from current levels.

The industry veteran says we shouldn’t forget the oil and gas sector’s contribution to striving toward net-zero emissions.

Clay Gaspar, president and COO at WPX Energy, sat down with Hart Energy’s Jessica Morales for an in-depth look at the shale producer’s outlook for the Permian and Williston basins along with the importance of ESG.