Spotlight: Mike Skeffington and Debbie Draudt – EnergyIQ
In this second in a series of five Spotlight Interviews, we spent a few minutes with Mike Skeffington and Debbie Draudt at EnergyIQ, a data management solutions provider based in the Denver area. EnergyIQ has been both a sponsor and exhibitor at the Denver Energy Tech Showcase (DETS) from the beginning and they tell us more about their business and what makes DETS a unique opportunity for sponsors and exhibitors.
Prism Group: Hi Mike and Debbie, would you please tell us about EnergyIQ?
Mike: EnergyIQ is a software company focused exclusively on the upstream oil and gas operator space, providing E&P companies with data management and data solutions for analysis and for streamlining business process. Our client base is a “Who’s Who” of leading operators, including both large and small companies. On the larger end, we work with BP, Chesapeake, Apache, Anadarko and Marathon and, on the smaller end, with Whiting Petroleum, QEP and others. We have established a strong position with mid to large-size independents. EnergyIQ is based in Denver with offices in Calgary and Houston. We just celebrated our 11th anniversary in December 2018.
Prism Group: That is a great client list! What do you do for them?
Mike: EnergyIQ is all about creating information certainty. The digitization of the oilfield has generated a tremendous amount of data and operators are being challenged with how they receive, ingest and convert data into usable information. We offer proven, commercial software solutions focused on the ability to interface with various data providers, primarily focused on subsurface or well-related data, and blending it so that it makes sense. This data can then be used for analytics, visual analysis and used to streamline business processes.
Prism Group: Data management makes sense, but would you tell us more about how EnergyIQ helps streamline business processes?
You bet. Our solutions are focused on the life of a well. Once a well is “born” in a business process, various functional departments generate, consume and produce information about that well over its life, from planning, drilling, completing, producing and abandonment or divestment. Our software organizes and automates that lifecycle, streamlining E&P business processes and dramatically improving data quality, the ability to analyze data and to improve confidence in decision making.
Prism Group: Why did EnergyIQ decide to sponsor and exhibit at DETS?
Mike: We very much want to support the Energy Tech ecosystem and help advance its evolution and DETS is a valuable event for doing that. Being a sponsor increases the visibility of our brand among the right audience and shows our clients and the industry that we are an active member of the Energy Tech community.
Debbie: A hidden benefit of the Showcase is that it gives us an opportunity to meet with other Energy Tech companies to research what they are doing and potentially partner with them. Most of our E&P clients are looking for solutions that often range beyond the focus of our offerings and it’s not possible to do it all. At the Showcase, we can see what is going on in the market and develop partnerships to help deliver more value to our clients.
Mike: That’s true, and being a sponsor increases the awareness of the EnergyIQ brand among operators. Although, for obvious reasons, the people from operators who attend the showcase are weighted to Denver, we find that people from Houston and other cities fly in to attend.
Prism Group: How does DETS differ from other trade shows?
Debbie: Well, it doesn’t feel like a typical trade show in the first place. Attendees don’t feel the pressure of a hard sell. They are coming to learn and network, they enjoy it. It’s just a different feeling.
Mike: From an exhibitor standpoint, it is very different. The informal nature of the Showcase makes it very conducive to socializing and networking in a low-pressure way. People let their defenses down and tend to be more open at Showcase events. It brings the energy community together to learn and research innovative technologies.
Another feature is that each exhibitor is provided with exactly the same footprint. We get the same table, amount of space, white table cloth and so forth. From an attendee perspective, you’re not overwhelmed by a company with a million-dollar marketing budget, so the guy in the corner doesn’t get ignored. Everyone is on a level playing field and the solutions stand on their own merits. Since the Showcase isn’t an exhibit attached to a conference or symposium where there are 20 minutes between sessions, there isn’t a mad rush of people to booths and exhibitors don’t exhibit the pressure to get a commitment right then and there.
Debbie: And the conversations just happen naturally, given the event is about networking and discovery. It’s not your typical run-of-the-mill boring conference, it is just not set up that way. The attendees are far more energetic and generous with their time than at the typical trade show.
Prism Group: How did EnergyIQ benefit from the showcase?
Mike: At the last Showcase, we had the opportunity to exhibit next to another company with an offering that is complementary to our solution set. We are both smaller Energy Tech companies with large E&P clients. In many cases, our clients are looking for a comprehensive integrated solution that neither one of us offer by ourselves. At the showcase, we shared information on each other’s website and developed some demo scenarios to present to prospects. If it wasn’t for DETS, it would have taken much longer to connect.
It goes without saying, but many potential customers come through the event. We have generated a number of sales opportunities at the Showcase by people just coming by our exhibit and networking with them.
Debbie: And lots of our existing customers attend the Showcase and it is good for them to see us supporting the Energy Tech ecosystem. More than one customer has told us they learned something new about EnergyIQ over a casual conversation at the event.
Prism Group: What would you say to other Energy Tech companies considering exhibiting?
They should seriously consider it. You don’t have to send the whole team, just bring a few key people and expect it to be an energetic networking event to meet customers, potential partners and colleagues. Besides, it’s a lot of fun!
About Prism Group
Prism Group is a multi-talented marketing and investor relations agency for leaders that are serious about building value. Our proprietary processes for building brands, generating awareness and establishing Thought Leadership and award-winning work help our clients drive top-line revenue and bottom-line profitability. We leverage state-of-the-art technology to optimize productivity, effectiveness and ROI.
We focus on Energy Tech, Oilfield Services, Oilfield Equipment, Energy Finance and E&P sectors.