Episode 245: Optimizing Oil & Gas Exploration

Episode 245 originally broadcast on February 13, 2010

Russ reports in from PKF Texas’ “Doing Business Over Coffee” networking event as he interviews Samina Farid and Kemal Farid, the co-founders of Merrick Systems. They both had tremendous expertise, but tell about tough decisions and very long days as they leveraged their assets into a successful operation. This is a great story. Then flash back to our interview with Bill Schrom, CEO of Geotrace Technologies Inc., a sub-surface imaging company that uses old data to help oil companies recover more oil and gas.

School of Business 02/13/10

Russ and John present the show about the private sector going out there and making it happen! We salute the entrepreneurs! Includes: the BusinessMakers Quote of the Day—wise words from American journalist Vic Gold; This Week in Business History includes the day Alexander Graham Bell TRIED to patent the telephone, the first voting machine and the founding of IBM Corp.; Navigating Business Jargon—acronyms, technospeak and trendy new stuff; and Dumbest Moments in Business History—Procter & Gamble’s CEO gets too enthusiastic.

Samina Farid & Kemal Farid, Merrick Systems

Russ reports in from PKF Texas’ “Doing Business Over Coffee” networking event as he interviews the co-founders of Merrick Systems. Samina and Kemal explain how they founded an information technology company that provides services for oil and gas drilling and production companies. Both had technical expertise and knew of a niche where they could combine their experience to develop and grow their company. But, like most entrepreneurial endeavors, it took some tough decisions and very long days to leverage their assets into a successful operation. This is a great story.

Bill Schrom of Geotrace Technologies Inc.

Russ revisits his interview last year with Bill Schrom, CEO of Geotrace, a sub-surface imaging company that uses old data to help oil companies recover more oil and gas, often from existing wells. Geotrace’s mathematicians, physicists, geologists and geophysicists develop new algorithms to help clients reinterpret their data more efficiently and to better resolve “structures” under the earth. In this segment, Schrom describes an assignment wherein Geotrace’s review of a client’s existing data provided a conclusive new direction for the development that increased production by 35 percent.

PKF Texas: The Entrepreneur’s Playbook® - HBJ Book of Lists

How do you use the Houston Business Journal’s Book of Lists? Greg Price lists the very many ways the Book of Lists can help take your company to the next level.