Resnet on Oil and Gas Startups

01/18/24 • 58 min

This week, we’re talking with Ryan Rice from Resnet, a startup shaking up the oil and gas game with tech-driven solutions for production and reservoir management. Ryan shares how Resnet connects field and office teams with tools like their Well Tender system, which makes job dispatching safe and efficient—and even throws in a bit of gamification to keep things engaging. From self-funding and balancing software dev with consulting work to getting inspired by Salesforce during his time at Rice Energy, Ryan has turned big ideas into practical tools that improve data access, communication, and overall workflow. With Resnet’s focus now set on advanced well testing and flow control, Ryan’s got his sights on a smarter, more connected future for oil and gas. This episode’s all about innovation, persistence, and the tech taking the industry forward.

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00:00 - What is ResX
05:20 - Ryan’s Journey to ResX
09:56 - Starting Rice Investment Group
11:38 - Successful Investments at Rice Investment Group
13:16 - Starting Resnet
15:23 - Overview of Resnet
17:51 - Well Tender Overview
21:00 - Building Resolute Energy
24:33 - Production Engineer's Role in Resolute Energy
32:50 - Introduction to IFC
36:40 - IFC Child Well Pressure Group Study
39:58 - Future of Resnet
41:14 - Openness to New Technology in Companies
42:50 - Energy Tech Night 2022 Highlights
46:18 - Ryan’s Baby Project
47:38 - Reset Energy Overview
49:56 - Gamification in Energy Sector
54:44 - Sales Teams and Competitiveness
55:25 - Ryan's Superhero Persona

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Previous Episode

New Horizon on Oil and Gas Startups

Exploration might feel like a lost art these days, but with Jarrod McGehee from New Horizon Oil and Gas, we’re pulling back the curtain on why there’s still so much potential left in the ground. From tapping into the hidden depths of the Gulf of Mexico and South Louisiana to digging into the practical reasons he’s stuck with conventional methods (hint: they’re still paying off!), Jarrod shares what it’s really like to navigate the challenges of shallow water drilling, manage logistics, and tackle state regulations. Plus, with tech like 3D seismic imaging and structural mapping making exploration sharper than ever, he’s even branching into carbon capture as a fresh frontier in energy. This one’s all about the grit, innovation, and resilience it takes to keep exploring in an industry that’s always shifting.

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00:00 - What is Exploration
05:07 - Amplitude and AVO Analysis
06:09 - Understanding Structural Closures
06:49 - Cost of Drilling a Well
08:06 - Average EUR of Oil Wells
10:32 - Career Path Insights
17:21 - Starting Your Own Company
21:54 - Carbon Capture, Utilization, and Storage (CCUS)
24:22 - Tax Credits for CCUS Projects
26:40 - Profitability of CCUS Projects
27:20 - Capital Flow Trends
28:53 - CCUS Market Outlook
30:34 - Structuring Deals in CCUS
32:20 - Time Management Strategies
33:53 - Future of Exploration Industry
37:24 - Mapping the Subsurface Effectively
42:54 - Current Excitements in the Field
43:37 - Career Highlights and Achievements

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Next Episode

Midnight Marketing on Oil and Gas Startups

Tim Taylor from Midnight Marketing takes us through his journey from Montreal to Mexico and how he’s built a thriving marketing agency focused on the oil and gas sector. Starting Midnight Marketing wasn’t easy—Tim shares the ups and downs of remote operations, especially the internet struggles of working from Mexico. He’s assembled a creative team in Montreal, where oil and gas isn’t the usual focus, so there’s been a learning curve educating his team on the industry’s needs. Midnight Marketing is breaking new ground in branding and marketing for oil and gas, using tools like Jasper AI to bring more innovation to their services. Tim dives into the art of delegation, the evolving role of marketing in energy, and why he believes branding is key for this traditionally technical industry. This episode is a deep dive into creativity, adaptability, and the strategies shaping the future of oil and gas marketing.

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Click here to view the episode transcript.
00:00 - EnergyX
00:58 - Catching up with Tim
03:30 - What is Midnight Marketing
04:33 - Early Days of DWC and Amplify Media
06:45 - COVID Opportunities
08:35 - Montreal Dynamics
11:15 - Changing Perceptions in Oil and Gas
16:19 - Midnight Marketing Services
18:17 - Importance of Customer Experience
19:35 - AI in Marketing
21:50 - International Business Management
22:40 - Effective Delegation
23:30 - Setting Unrealistic Goals
27:30 - Bootstrapping vs Funding
28:10 - Building Team Culture
31:10 - Bootstrapping vs Funded Strategies
36:50 - Long-Term Mindset
38:27 - Importance of Systems and Processes
41:18 - Words Carry Weight
43:11 - Finding Midnight Marketing

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