2023 brought significant developments for the oil & gas industry. Let me share some exciting highlights that directly impacted CleanConnect.ai and our community:
#1 – AI Makes Inroads in the Enterprise
OK, you’re probably thinking I’m talking about ChatGPT. And while that software is amazing, AI is making a dent in the oil & gas universe as well. In mid-2023, The CO government recognizes CleanConnect.ai for building the first AI to pass the Turing test for emissions reduction.
To earn our CO Alt-AIMM approval meant we had to prove that our Visual AI system was equivalent to a human doing monthly LDAR, AVO and storage tank emissions monitoring. For our Colorado clients, that translates into a 92% reduction in regulatory call-outs.
“We’re stuck in pilot purgatory.” That’s what a super-major told us about 6-months ago after piloting over 60 methane detection systems. So, CleanConnect.ai built a pilot trailer with all of our gear and showed up on one of their production facilities. We were able to test 7 of our Visual AI models in 3-days and now they’re a client. We documented everything here: https://info.cleanconnect.ai/pilot.
#3 – The Dawn of the Virtual AI Operator
Our Visual Automation suite enables oil and gas operators to create a virtual operator that works 24/7 on their sites, allowing human operators to manage hundreds of sites from their smartphones or laptops. In recognition of this milestone, CleanConnect.ai Wins the 2023 Oil & Gas Cleantech Challenge. This video explains everything.
OK, here are three predictions for 2024:
#1 – EPA Super-emitter program
If you’re one of the 900+ people who have downloaded my EPA Cheat Sheet, you’ll know I’ve been covering the upcoming EPA Super-Emitter program.
The EPA intends to hire satellites to detect 100kg/hour methane emissions on a daily basis. This new enforcement is being applied to all sites, including those covered by OOOOa and could start in mid-2024. We recently did a webinar with Cimarron showing you how we plan to Eliminate Super-Emitters. I recommend watching the replay if you haven’t already. https://info.cleanconnect.ai/super-emitter-webinar-replay.
#2 – Get Ready for Empirical Emissions Measurement
Whether it’s EPA Subpart W, OGMP 2.0 Level 4, or MMRV, it’s all moving to source-level measurement informed emissions inventory. We’ve been covering this transition from emission factors to empirical measurement ever since we launched the EPA Cheat Sheet, but 2024 is your last chance to get ready for January 1, 2025, when every entity wants you to start measuring empirically. Here are a couple of resource you don’t want to miss:
- Replay: Cracking the code of direct measurement and remote management
- Replay: How to Achieve OGMP 2.0 Gold and Avoid Methane Fees
#3 – Monetizing emissions
Our clients are starting to use our ProveZero system to monetize emissions. Here are 5 use cases our clients are using to earn a premium on their source-level emissions data:
- Minimize methane fees (taxes)
- Wining & complying with ESG investors
- Earning carbon credits for plugging wells
- Comply with sustainably-linked loans, bonds, and insurance
- Earn certified gas premiums
I’ve got a 10-minute video that explains our 3-step process to monetizing emissions here.
2024 will be a very exciting time for the oil & gas industry. According to Gartner Group, the price of oil in 2024 will fluctuate between $70 and $100 per barrel. This is well above break-even for most operators, so they’ll have the capital to continue investing in automation & technology that will keep them profitable for the next 20 years.
Have a Merry Christmas and a Happy New Years!
Mark Smith CleanConnect.ai
1 thought on “2023 Review and Predictions for 2024”
Very informative