In 2013, Citadel Drilling was making fast inroads in Canada's oil and gas sector. The Calgary-based designer, manufacturer, and operator of the highly advanced TA²CT Series of Alternating Current (AC) triple drilling rigs identified the need to optimize safety, efficiencies and slim down costly downtime and labor. The new venture blended a clear, single focus, visionary technology, and a performance driven approach to drilling to improve the art, science, and safety of oil production. They were creating a bold presence on the Canadian O&G stage - just in time for the industry to collapse.
That heart-stopping turn of events dared them to embrace the transformative potential of calamity as a driver for excellence. "Our goal in creating Citadel was to insulate ourselves from the industry's peaks and valleys as much as possible," Citadel co-founder and CEO Daniel Hoffarth told BOSS. At the ideation stage, the founders filled blank sheets of paper with the changes they felt would move both the company and the sector forward.
"We focused on performance at every level, from high-performing rig technicians, equipment the selection of the best to integrate into the rig, identifying and choosing vendors known for excellence in their fields, and creating a culture of competency and loyalty. From that toolbox we could focus on utilization as our next goal," he said.
It was imperative that in any given cycle, their rigs and their people would be working. In good times or bad, they wanted to make sure there was always work to be had. "That was a real goal for us," he stressed. "We believed that utilization had to be the key and that the best fruit at the market gets picked first." And the keys to achieving the highest rate in the industry were time and safety. "If you can decrease the time something takes and do it without compromising safety, you have a bit of a win there."
Denne historien er fra May 2023-utgaven av The BOSS Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May 2023-utgaven av The BOSS Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
If I Only Had a Brain-Computer Interface - These medical miracles are changing what science thought possible
These medical miracles are changing what science thought possible. As Elon Musk once noted, How much smarter are you with a phone or computer or without? You're vastly smarter, actually. You can answer any question pretty much instantly. You can remember flawlessly. Your phone can remember videos, pictures perfectly. Your phone is already an extension of you. You're already a cyborg.
What's Your Flavor?
Personalizing food with the power of Al
MAKE THE MONEY LAST
OUTLIVING OUR SAVINGS IS THE NO. 1 RETIREMENT CONCERN. THESE ARE SOME WAYS TO OVERCOME THAT.
United Site Services: Procurement Progression
With their digital evolution underway, the portable sanitation powerhouse is rethinking their approach to procurement and sourcing - and change management is just one key to its success
Natural Selections
Balancing synthetic biology with sustainable materials production
OPEN MINDS
WHAT RESCHEDULING WILL MEAN FOR MEDICINAL CANNABIS RESEARCH
it takes a village
Revolutionizing multifamily living and bolstering property profitability
COLD CONFIDENCE
FOOD INDUSTRY FAVORITE FREZ-N-STOR IS GLIDING INTO A VERY CHILL FUTURE
WHAT CAN BOTS DO FOR YOU?
The dream of an autonomous supply chain
The Ultimate Integration
Rackspace Technology is propelling the industry forward with game-changing innovations in Cloud, Data Analytics, and Artificial Intelligence