With oil prices lower than they’ve been in a decade, the oil industry is seeking ways to optimize its operations to achieve maximum efficiency. The Journal of Petroleum Technology explored how the price situation is driving innovation in recent article “Pressure Test for E&P Innovation.” When seeking out innovation leaders to contribute to the article, the JPT contacted GroundMetrics’ SVP of Product Operations and Geophysics Mark Wilkinson. GroundMetrics’ commitment to technological advances is known in the industry and continues to grow as news of our work spreads. In fact, some E&Ps have been using GroundMetrics as a technological consultant in addition to a survey and monitoring services provider.
As GroundMetrics’ innovation is crucial to its success, protection of Intellectual Property is a high priority of ours. Building an IP portfolio is a long process, rather like cultivating a garden, in which the small seeds you plant today will yield a much larger harvest down the road…if you nurture them properly.
Our long-term strategy is to grow a collection of IP with both depth and breadth. There’s vigor in diversity. The basis of our work, and our collection, is our eQube™ hardware and source technology patents. These sturdy innovation assets currently produce the most robust yields. The applications we filed on these items continue to produce results. We have recently had notification of patents on our eQube™ sensor technology issuing in Mexico, Russia, Australia and the US, as well as our source technology in Australia.
The next row in our plan consists of our data processing and interpretation protection. This group of patents is widely diversified, with coverage pending for near-surface error reduction, resistivity distribution calculation, fracture mapping, and deep resistivity mapping. Currently we have 12 patent families issued or pending in 15 different jurisdictions.
Companies cannot rest on their laurels, however, no matter how impressive their current technology is. Maintaining our technological edge is crucial to our continued expansion, so GroundMetrics has a dynamic corporate program to support, encourage, and advance rapid innovation. As part of that process we document, assess, and obtain patent coverage on new inventions to establish the best mechanism of protecting them, whether that’s patenting or maintaining as a trade secret. We create an environment where innovation can flourish and reach its full potential. Today’s ideas will become tomorrow’s patents applications, which will yield their benefits a few years down the road, becoming a productive part of our ever expanding portfolio as they issue. And by then, we will be growing our portfolio further by seeding it with new innovations.