Data analytics pays off 'very, very quickly' in oil and gas: This week's best quotes

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Here are some of the best quotes from news coverage in the Daily Oil Bulletin for the week ending May 19, 2017:

“Contrary to market perception at the time that you have all these northeastern U.S. pipelines coming in to Ontario and it spells doom and gloom for western Canadian producers, our view is that it does not.”

—Luke Jackson, senior energy analyst with Platts Analytics, commenting on a new Platts report that western Canadian gas will be able to compete head-to-head with northeast US shale production thanks to new firm commitments secured by TransCanada in its new deal for cheaper access to Ontario on its Canadian Mainline.

“I think if someone were to propose that you move the Atlantic Opportunities Marketing Agency from Atlantic Canada to Winnipeg, people would say ‘that’s dumb,’ and let me just say that moving the NEB to eastern Canada is dumb.”

—Alberta Premier Rachel Notley, discussing a recommendation by the expert panel on modernizing the NEB to move its operations to Ottawa.

“I absolutely believe we can compete not just on cost but on carbon with the marginal barrel of supply wherever that is coming from in the world, whether that is from OPEC or U.S. tight oil.”

—Cenovus Energy CEO Brian Ferguson, adding that Canada’s energy sector, particularly the oilsands, will remain key to North American and global energy supply, growing in importance thanks to a technological “renaissance” he foresees in the sector.

“As a Canadian, I want the federal government to show leadership on responsible development.”

—Kevin Neveu, president and CEO of Precision Drilling, explaining that means having a strong agenda on exporting responsibly-managed resources, and building the infrastructure—like pipelines—that make such exports possible.

“I think the most significant trend you are seeing today is actually one that is taken from other industries, and that comes back to data analytics and machine learning, which is proving to be very effective in many different parts of the supply chain and the operations of oil and gas companies.

“There are a tremendous number of early-stage companies that are not just U.S. companies but are actually all over the world that are able to harness new algorithms, powerful computers, take the data and come up with different formula for producing things and development them. It pays back very, very quickly.”

—Jeffrey Harris, founder of Global Reserve Group, speaking at the launch of PricewaterhouseCoopers’ latest Energy Visions report.

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