New data in the oil industry is shaping the way the companies work — so drastically that the data has become almost as important as the oil itself.
New uses for data collected by drillers was one of the main topics at the Bennett Jones Lake Louise Business Forum, which started last Thursday and went into Sunday.
Peter Tertzakian, and economist and executive director of the Arc Energy Research Institute in Calgary, said data has always been a part of oil and gas — but companies are looking at new ways of collecting and using it.