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Podcast: Digital Innovations in Oil and Gas with Geoffrey Cann
Episode: How To Misspend $100 Billion Using Excel: Relying On Spreadsheets For Complex Well Delivery Is So 1990s
Description: Unconventional oil and gas is massive. Every year, over $100 billion is poured into steel, sand, and water just in Canada and the US. Yet, most of the planning behind these extraordinary investments still runs on Excel spreadsheets. Spreadsheets were fine in the 90s, but today they struggle to handle the complex interdependencies and real-world constraints of modern tight plays. The hidden cost to the industry is huge. Expensive inefficiencies, wasted capital, and missed opportunities to improve well design and execution. Other industries abandoned spreadsheets long ago when margins got thin, but oil and gas clings to them...