Case Study of Creating a Brand New, Ultra-efficient, Data-driven Offshore Independent Operator

Abstract

Supermajors and larger operators are offloading mature assets to focus their capital on funding newer assets and energy transition. Investors see opportunities for free cash flow generation. Ultra-efficiency is key. Data Science is seen as a key enabler. To that end, Cantium, a brand-new data-driven independent operator was formed in 2017. This paper describes how the digital oil company was created, the data science technologies and methods that were employed, the challenges, lessons learned and critical success factors and how value was created over time.