This article is part of the Spring 2018 edition of the Journal of the Canadian Heavy Oil Association.
As members of the Canadian energy industry, we share a common goal to push the industry towards sustainability and growth. We talk fervently about innovation and collaboration and we feel a sense of camaraderie for surviving deeper downturns than we ever planned for.
While we celebrate the inventions and innovative technologies appearing in the industry, we at HIVE Innovations believe that innovation needs to happen in both our approach to technology and our approach to business.
Innovation leadership requires us to adjust how we do business by shifting our commercial models and being flexible in responding to each of our client’s unique needs.
What is our commercial model?
HIVE is leading the charge in challenging how we do business in the energy industry. Instead of imposing one model for all customers, HIVE is agile enough to respond to each project individually by offering flexibility in our module only or turn-key execution strategy.
Regardless of the solution that best suits the needs of the client’s internal resources, the focus has been on a fixed cost late-stage milestone payment model to reduce the uncertainty associated with historic cost overruns. In certain situations, it may even mean delaying payment until our clients are generating profit from the infrastructure that is being installed.
We also believe that as a project execution and innovation company, it is our job to share the risk of our clients. We have invested in long lead inventory and pre building key modules making infrastructure solutions available within quarters as opposed to years, greatly increasing the value of the asset by delaying capital deployment.
While we are proud of our own innovative designs, we think shifting the business of energy requires us to be willing to wrap our commercial model around our client’s designs as well, if that is the most beneficial model to meet the client’s goals.
What are our technologies?
HIVE’s innovative designs include:
Full Standardized Well Pad Design – Designed with the simplicity of turn key solutions yet bespoke enough to customize to any resource challenges, process conditions or evolving operating strategy.
Sustaining Well Pairs/Infill Wells – We are one of the first companies to also focus on applying the benefits of standardization and manufacturability to additional well pairs or infill wells added to legacy pads, recently completing 21 sustaining wellpairs into legacy wellpads.
Pad Level Solvent Recovery – Truly innovative, for the first time clients now have the opportunity to economically and quickly begin to recover solvent on a pad scale using our modular and flexible design. Our portable Pad Level Solvent Recovery technology allows clients optionality in targeting specific pads and well maturities, solvent types and desired surface recoveries along with the ability to move the equipment when the benefits of solvent begin to diminish.
Facility De-Bottlenecking Designs- Driven by evolving industry trends, we are focused on proactively creating and commercializing game changing designs that will allow clients to increase production through small-scale produced water, steam, power and produced gas infrastructure solutions. Companies manage their capital more efficiently when they have access to designs that can be deployed quicker and are financially attainable.
Where are we working?
Although HIVE is a relatively young company, our collective group comprises an incredible depth of experience and a wide range of surface and subsurface expertise to customize solutions for energy companies.
Most recently, we have partnered with Osum Oil Sands, providing them the benefits of our innovative technologies and commercial model to accelerate the time to first steam, provide cost certainty and the extensive benefits of a turn-key execution model.
To meet the needs of the ever-changing energy industry and respond to global priorities of protecting the environment, reducing our carbon footprint and leading sustainable development, we see an opportunity for Canada to set a standard and lead the charge towards responsible energy production.
If you would like to hear more about how HIVE is shifting the business of energy, come stop by our booth at the 26th Annual CHOA/SPE Slugging It Out Conference in Calgary, AB on April 17 or the Global Petroleum Show on June 12-14 or engage with us on LinkedIn or via our website at www.hiveinnovations.ca.