Most people don’t realize that Bitcoin is a drain on the energy grids in the world. Mining for Bitcoin is one of the single biggest energy drains in the investment markets on the world’s already strained electrical grids. There is an estimated 1,779.11 kWh to mine each Bitcoin transaction. Putting that into perspective: 100,000 VISA transactions use 148.63 kWh, and the single Bitcoin energy would power 300 U.S. homes for an hour. Please note the same Bitcoin mined would only support an estimated 225 California homes due to the higher price of energy, and even less in Germany.
The ENB team sits down with Kay Galloway, CEO, Artemis Energy, to discuss the damage to the environment done by Bitcoin mining and solutions to help stop the dramatic global impact on the environment. It is fun to see Kat’s passion for ESG, and the thought process for helping the oil and gas companies take access to natural gas and convert it to a revenue stream. That solution of Bitcoin mining using an energy source that would have been a hazard to the environment also takes those services off the energy grid used to run homes and businesses. The E&P companies can take the revenue stream and clean other areas like carbon capture systems.
Kat – thanks for stopping by and talking about the solution to the global problem of Bitcoin mining. I had a blast and hope to have you back on a regular basis, Stu.
The following is an automated transcription that we disavow any errors unless they make us seem funnier or smarter.
Stu Turley, CEO, Sandstone Group [00:00:04] OK. Hey, everybody. Welcome to the Energy News podcast today. You know, ESG is one of my all-time favorite discussions, and we’ve got somebody here that was on our roundtable last week. Kat Galloway, Kat, welcome, and we are so glad to have you here.
Kat Galloway, CEO, Artemis Energy [00:00:24] Well, Stu, thanks for having me back. You set the bar really high for the podcast today, but I’m so happy to be here again on energy news and happy to have this discussion today.
Stu Turley, CEO, Sandstone Group [00:00:35] Boy, I’ll tell you. You and Tracy Woods as well as Andrew just hit it right out of the park and our discussion. It was a great ESG discussion. And I mean, it was nice having, you know, really three experts because I’m an expert wannabe and I just hanging around with you guys are all absolutely wonderful and that’s going to release the first part of the week and then this is going to come out later in the week. But you and I going to bring up the slide deck here just to show everybody. You’ve got quite an if you would. I hate to use the word pedigree, but you’ve got a pedigree going on here. And Kat, you’re the CEO of Artemus and our Artemus Energy and also the president, a bright sky and environment. What do you give us? A little bit of your background on that?
Kat Galloway, CEO, Artemis Energy [00:01:33] Yeah. Well, I’m pretty busy right now. So yes, I started Artemus Energy and it is a bitcoin mining company. I started that company this year. Really, my background is in environmental engineering, chemical engineering, and atmospheric chemistry. So I’ve got a chemical engineering background and I’ve been doing environmental work now for about 20 years. So my background is really in kind of calculating, predicting, measuring air emissions from different industrial sources. And I really got into oil and gas in particular in about 2010, which was when the Eagle Ford shale really took off here in Texas. And so once I get in, once I got into oil and gas and just loved it, I loved all the technical components of it. I loved working in the industry and just decided that I wanted to work in oil and gas as long as the market would let me. So what I’ve been doing, especially for the last 10 years, is working with upstream and midstream oil and gas producers to understand where air emissions are coming from in their process. So a lot of work with understanding storage tanks, heaters, engines, flaring, pegging anything in this industry really been working with a lot of big operators to quantify that and to be in compliance with a lot of rules and regulations. And I had a career with large companies, large environmental consulting companies, and over the years, I really just wanted to be able to be in more control kind of have my own say on how things are done. So I started Bright Sky Environmental in 2018 and that company Bright Sky. We do all oil and gas, air permitting, environmental permitting, and that’s really been really great. Of course, it was. It was difficult with COVID, but we were able to get through it without, you know, having to let anyone go at the company. And things are booming right now for me with Brant Sky Environmental. I’m based here in Austin. Our team is in Texas. So after doing this now for several years, I’ve been really following the bitcoin mining concept and started off, you know, kind of helping different bitcoin miners understand environmentally what they should be doing out there when they’re mining bitcoin. And quickly just really got into understanding the technology, understanding the process, and thought to myself, Well, you know, I’ve got a very different background, been a lot of these bitcoin miners here in the U.S. because my whole career has been environmental and ESG.
Stu Turley, CEO, Sandstone Group [00:04:39] Let me just kind of go into here. And when you and I were chatting, I didn’t know that bitcoin was such an energy hog. And when you and you sit back and the average person out there does not realize that miners don’t put a mining hat on like the seven dwarves. They just have servers and they go after, you know, the algorithms to try to mine bitcoin. Yes. So I didn’t realize it was such an ESG hog draining, so much power, and so with that, that’s how you got involved because of your love for ESG. Is that a fair statement?
Kat Galloway, CEO, Artemis Energy [00:05:17] Yeah, that’s definitely a fair statement. And also the way that I see this is that mining bitcoin, particularly from stranded waisted flared gas. OK, if we’re going to use that gas instead of pulling from the energy grid, we are essentially not wasting that gas. We’re going to use that energy for something different. So when you talk about bitcoin being an energy hog? Absolutely. I know that you have some slides that you sent me on energy consumption in the bitcoin industry. Do you want me to share that with you?
Stu Turley, CEO, Sandstone Group [00:06:01] Yeah, let’s bring that up right now. And let’s go to the next slide here. OK. And it’s a yeah, let’s go here. OK, yeah,
Kat Galloway, CEO, Artemis Energy [00:06:14] so this looks like it’s updated through about April, and this is showing the global distribution of bitcoin mining hash rate through about April 2021. And you’ll see here that most of the energy in bitcoin had historically been coming from China. Mm hmm. Now, this has changed a little bit. In June of this last summer, China actually banned bitcoin transactions and bitcoin mining. So, so essentially now their hash rate is down to zero. And I can tell you for a fact that a lot of that equipment that came out of all the bitcoin mining in China is now here in the U.S. Oh, it’s here in Houston, here in the Lone Star State. But if we, you know, just use our imaginations here, if we take this and fast forward it to today. Right. The Cambridge Bitcoin Energy Consumption Index is now showing that through about August of this year, actually, 35 percent of that global bitcoin mining is now coming out of the U.S.. We know that. Yeah. With about 20 percent in Kazakhstan and about 10 percent in Russia than the rest to the other countries there. So the U.S. is now doing our part in that energy consumption. So, you know, if
Stu Turley, CEO, Sandstone Group [00:07:47] this problem is that so we basically replaced China as the hugs in bitcoin mining.
Kat Galloway, CEO, Artemis Energy [00:07:54] That’s right. But so let’s think about that, that let’s look at the energy production in the U.S. OK, OK. So according to the EIA, if we look at data through 2020 in the U.S., about 40 percent of our energy came from clean-burning natural gas. Right. 20 percent from coal. 20 percent nuclear. And then 20 percent renewables. So one of the interesting things with bitcoin is that you’ve got to have a steady power source. OK, right? So if the sun’s not shining and the wind’s not blowing, you’re not going to be creating bitcoin. So, so really, renewables can play a part of that. And they are. But really, we’re looking at natural gas, coal, and nuclear. So, yeah, you know, what I want to do at Artemus is not tap into any of that at all. Right. I don’t want to pull power from the grid at all. And tons of bitcoin miners do that. That’s fine. That’s their business model. But what we want to do at Artemus is pull wasted gas that’s being flared and use that to be our power source.
Stu Turley, CEO, Sandstone Group [00:09:11] This brings up a couple of great questions. And when you sit back and let’s just take the Permian, because the Permian historically has not had great takeaway. And so Texans, the Texas oil companies have done a great job in reducing their flaring by dramatic amounts. And so that’s a really cool thing. But how much gas does it take because you do have to have a steady stream of power there? Are there small enough wells that you that are not good enough for bitcoin mining? And then there are some that are too profitable? Does that make sense?
Kat Galloway, CEO, Artemis Energy [00:09:52] Yeah, definitely. So you’re right, Texas, in particular, has done a great job over the last couple of years to reduce flaring. There are lots of different reasons why flaring would be needed. One of those reasons why is the lack of infrastructure. So if we don’t have a pipeline takeaway for the gas that’s being produced along with the oil, then you’ve got to do something with that gas. But there are other sources of flaring as well. Even emissions coming off of the tanks off of other process equipment like dehydrators, that gas could be flared as well. So there are a lot of sources of gas out there. But yes, Texas has done a great job not because of any regulation, but because the industries in Texas really bound together and said we’re going to reduce our flaring. But from a bitcoin mining standpoint, you do have to have enough gas in the system to fire the engine. So really, bitcoin mining out in the field is that you’ve got this gas that would be flared. And instead of flaring it, you’re going to put it into a natural gas generator. You’re going to create power on-site using that gas. And then the power that you’re creating on-site from the natural gas is then used to power the equipment that’s doing the bitcoin mining. So that’s kind of bitcoin mining in a nutshell. But yeah, you’ve got to have enough gas to power a small engine. So really, that kind of the lowest you could do is maybe 15 15000 stuff per day, which is pretty low. You could fit, you know, maybe a four-by-four cube of mining equipment out there to do that. OK. And then the sky’s the limit. I mean, this can be applied upstream, midstream, downstream. If you’ve got a lot of gas that you’re flaring, really, it’s just a matter of scale. And how much of that do you want to send? Yep. To be combusted and create your power. So what’s been really exciting is working with some of these larger producers who have a lot of gas that they’re wasting flaring because they have nothing else to do with it. So, you know, those are the kind of projects that Artemus is going after it is really in the larger scale flaring.
Stu Turley, CEO, Sandstone Group [00:12:25] Your website says, correct me. I have to fact-check. Myself, you know that about me, I got a fact check myself, my wife tells me that all the time. But 50000 to 50 million is at the ballpark that you guys normally pick up for Artemus Energy.
Kat Galloway, CEO, Artemis Energy [00:12:41] Yeah, so those are kind of the investment opportunities. Right? So a little project, kind of the smallest you could go might be around 50 to $75000 for a small well. But we’re working on some exciting projects across the energy spectrum where there’s a lot of gas so that the main drivers in the price on those projects are you get to purchase the engine, the power generation portion of it. OK, but then it’s the computers. It’s the mining equipment that can be the top-dollar stuff. So if you want to spend a lot of money, you can get the top-of-the-line, you know, best bitcoin mining equipment, but that that is expensive, right? So there’s a range and depending on the comfort level of your investor, you can really go on the spectrum for them.
Stu Turley, CEO, Sandstone Group [00:13:34] I know where there’s a bunch of used China equipment, you know? So yeah, it’s getting I mean, we might be able to save some money here. Exactly. We’ll have to talk after the show, OK? But in the Permian, and let’s say any of the fields, you know, I’ve had some experience in putting pads and technology in pads and getting the signal out there. Not all the pads have a good enough technology back in order to get that stream. So you have to go wireless backbones out there from say, you know, from those things. How much bandwidth do you need to mine bitcoin?
Kat Galloway, CEO, Artemis Energy [00:14:15] Yeah, that’s a really good question. So. So in addition to having a steady-state of gas, a steady flow of gas, you’ve definitely got to have a good bandwidth. So if it’s out there truly in the middle of nowhere, you’re going to have a hard time mining out there. I mean, as long as you’ve got a cell phone signal, that’s really what you need. Because, yes, everything is done remotely. You’ve got to be able to have your servers talk back and forth. So as long as you can get a cell phone signal, that’s great. There are some other issues that you have to deal with. Heat and cold can be difficult. So, so there are special cuts that you can buy, and there are a lot of manufacturers are working on that and we’ve got some great relationships with them. You’ve got a different set of circumstances for the cold versus the heat. You know, computers like to overheat. So you’ve got to you got to baby them and take care of them and dust and data. They do not like to get dusty. So those are some considerations, particularly in West Texas, that you’ve got to be concerned about.
Stu Turley, CEO, Sandstone Group [00:15:27] So are you focused in Texas only?
Kat Galloway, CEO, Artemis Energy [00:15:31] So we’re starting with Texas because that’s really the background from an environmental perspective that I’m very comfortable in. But we are talking with operators. We’re working on some potential projects in Kansas, Michigan, but really all over the board. And of course, you can go global to that. That’s not something that I’m doing yet, but I’ve got contacts who are talking about some global projects. But yes, so we’re focusing on Texas. For me, the projects that we want to do, they’ve got to make sense from an environmental perspective. That’s what we’re all about. So we’re not just out there just doing the upstream bitcoin mining and making the money off of those. For us, the projects need to have both a financial. I mean, it’s going to make sense financially, right? You’re not going to get people to invest in the project and they’re not going to get returns. But also, it has to make sense on the environmental side. So our approach is somewhat different than maybe some of the other bitcoin miners in that we’re approaching operators with an understanding of their air permits, their ESG considerations, carbon credits, tax credits. How can we approach this from an environmental side so that there’s a true environmental business case, as well as a financial business case? So it’s somewhat different.
Stu Turley, CEO, Sandstone Group [00:17:02] This is cool. And you know, I’ve always said that there is no ESG without accountability. And so with your background in the air measuring and everything else, your knowledge of accountability, you’ll be able to articulate immediately saying, Hey, we’re pulling this amount of greenhouse gases out by putting providing this.
Kat Galloway, CEO, Artemis Energy [00:17:23] Absolutely, absolutely. And providing the data to support that. And also, I mean, I’m talking with a lot of cool projects, a lot of cool operators right now that we can truly go carbon neutral on this. There are some ways to do it. So yes, if you are bitcoin mining, you know, using electricity from generators that are from natural gas, you’re still combusting natural gas. So yes, there are still air emissions from the process. But if we’re combusting them in an engine, they’re going to be better than in a flare because of flares and not going to have complete combustion. But we could potentially go all the way if you want to tie that with, say, for example, carbon sequestration. Right? So, so there are some project ideas that we’re working on as to how to make bitcoin mining truly carbon neutral.
Stu Turley, CEO, Sandstone Group [00:18:21] Well, let’s talk to Elon Musk and let’s see if we can start selling carbon credits because Tesla is now in Texas and he’s making more money selling carbon credits than he is up of his own bet. Big kidding.
Kat Galloway, CEO, Artemis Energy [00:18:38] Yeah, no, that would be. I won’t be dealing with Elon, but you’re right, there are carbon credits and there’s a carbon market out there. So, you know, to those to those large operators out there who are run in midstream terminals, chemical plants, refineries, you know, consider the kind of financial benefit you can get from the carbon markets if you can reduce your flaring at your site. And what you can do with those carbon credits,
Stu Turley, CEO, Sandstone Group [00:19:08] that is huge. And I do really respect your reviewing of not getting the power from the grid and not pulling that from it because ERCOT this last year, you know, was not pleased with all the prices, you know, you know, we get at my power went up 75 percent in 50.
Kat Galloway, CEO, Artemis Energy [00:19:34] Well, I mean, we talked about this in our roundtable last week for ESG. Yeah, I mean, I was here, I was in Austin. My mother-in-law was without power for several days. We couldn’t get a hold of her. We couldn’t get on the road. It was awful. So, you know, when things like that happen in your life, you’re like, OK, well, you know, I want the grid to be stable and I want that power to be, you know, available to the people who need it. And I know that that some of these bitcoin miners who are reaching into the power grid, they’re going to have the availability, the opportunity to turn down their power when they need it, right? So that’s the argument that they’re making is that if we need to, we can shut down. So I do credit them to doing that if needed. But you know, I’d rather just get the energy that’s being wasted because if you think about it, that flared gas is doing nothing right. It’s just being
Stu Turley, CEO, Sandstone Group [00:20:34] a bad thing.
Kat Galloway, CEO, Artemis Energy [00:20:36] Yeah, there’s no energy that you’re getting from it. So let’s harness that energy and use it for something.
Stu Turley, CEO, Sandstone Group [00:20:43] This was just a thought, and I apologize for just totally derailing this conversation, which is what I normally do. But microgrids and I’m sitting here thinking for a small town, if you get a big enough flaring and you’re starting to put enough generators out there, you could then sell extra power to a local community out there and again, turn that into another revenue-driving source.
Kat Galloway, CEO, Artemis Energy [00:21:08] Certainly, if you’ve got a lot of gas out there, you could use that power for any number of things, you know. If you look at a small community and if an oil and gas operator wants to, you know, make a splash with their community engagement, why not take that power? Sell it back to the grid? Right, right. I I heard of a cool idea of taking that power and then running a greenhouse off of it and using that to grow food for the community. Right? Make a community greenhouse. So there are all sorts of really cool ideas out there, and that’s what I’ve really been enjoying, particularly over the last decade in oil and gas to work with the companies who are, you know, coming up with these cool ideas to work with the operators themselves to design their facilities better. Right. So it’s really for me, it’s all coming together as a nexus. I kind of think about the Venn diagram, right there is there’s oil and gas, there’s a technology innovation and really, when I see where I’m at right now, there’s just at the intersection of a lot of these cool concepts and just bringing in, you know, the background I’ve had. It’s a really it’s really neat. Position to be in right now, I think the time is right for bitcoin mining and oil and gas, it really is
Stu Turley, CEO, Sandstone Group [00:22:36] asking some questions on bitcoin. The volatility of bitcoin. You know, if you bought it a hundred dollars, your bazillion there now. I mean, if you sold any of it, it can swing $20000, everybody. How many? There are so many miners out there. What are the odds? Are you making money? I mean, I don’t know the answer to that.
Kat Galloway, CEO, Artemis Energy [00:23:04] Well, you make a good point. Right? So this a very volatile. And if you can’t stomach that volatility, you probably don’t want to be in this industry. I mean, you know, I’m invested in it. And, you know, definitely over the weekend, it was a challenge, but you know, you just get used to that, you know, you get emotional. But yes, there is a lot of opportunity to for other bitcoin mining companies because what’s interesting about bitcoin is that a set number of bitcoin are authorized every day. So there’s a limited supply and really the name of the game is to have as much computing power as you can in the network to make the money off of the bitcoin. So there’s a lot of opportunity for growth. I personally think that you know, as bitcoin continues to become more mainstream in our other financial markets, right? I mean, you’ve got just the legitimacy of bitcoin is really increasing every day. You got major companies, you know, creating funds. They’re putting retirements into bitcoin, you know, funds and stuff like that. So there is a lot of opportunities. And I think it’s going to continue to grow. You know, over the next five, 10 plus years. And I really think that that oil and gas in the energy industry overall is really set to be in an interesting symbiotic growth with bitcoin because, you know, bitcoin needs energy and the energy company needs something to do with wasted gas. So it’s really a beautiful marriage of two industries.
Stu Turley, CEO, Sandstone Group [00:24:54] Is it El Salvador that he was trying to sell? It was what country was that where he missed the main thing by seven?
Kat Galloway, CEO, Artemis Energy [00:25:02] Oh, oh right? No, that was. Yeah, yeah, that was by buying the debt the other day.
Stu Turley, CEO, Sandstone Group [00:25:09] Yeah, I saw that. You know, here’s the president of the country. They missed the debt just by a few minutes. I think
Kat Galloway, CEO, Artemis Energy [00:25:16] that’s right. I mean, he’s still he still did well on that purchase. He sold his time.
Stu Turley, CEO, Sandstone Group [00:25:23] Yeah. Oh, I missed it by seven minutes. You know, I missed it by several years, but we’ll leave that one alone
Kat Galloway, CEO, Artemis Energy [00:25:28] and get a start somewhere. There’s always going to be another dip.
Stu Turley, CEO, Sandstone Group [00:25:33] Now I’ve got a question for you. Mm hmm. As regulations come around in the oil and gas industry and we got to this energy crisis because of, in my opinion, 20 years of bad policy energy policies around the world. It’s just not the U.S. Everybody said we’re going to go green without a plan and you got to have a plan. That’s my opinion. I mean, regulations on bitcoin are coming and how is that going to impact the ad in the inside other than regulations are coming?
Kat Galloway, CEO, Artemis Energy [00:26:10] Well, I mean, what’s the old saying about, you know, to to to knowns in life, are death and taxes, right? I think, you know, regulations on our industries should probably be in there, right? So there are going to be regulations on bitcoin. All I can talk about that I would know about is potentially his environmental regulations of him. But you know, even now, if you’re mining bitcoin, you’ve got to do it the right way, environmentally right? You can’t just go out there and put an engine out somewhere. Take gas and mine bitcoin, because if you do, that would be really bad. So the oil and gas business has been doing this for decades. We know what we’re doing right now. If you have an engine, you have to have an air permit for it, right? You’ve got regulatory requirements. You’ve got reporting, you’ve got testing, performance testing on those engines. And if you’ve got enough, you may have to do greenhouse gas reporting. So those things are still the same. It’s just taking that knowledge from the oil and gas business and putting it into the bitcoin mining process. A lot of the folks out there doing bitcoin mining have no clue about the environmental components of it.
Stu Turley, CEO, Sandstone Group [00:27:35] Unfortunately, I can guarantee you that
Kat Galloway, CEO, Artemis Energy [00:27:38] I can guarantee you that. And so that’s kind of how I got into this as I was working with different bitcoin miners and helping them understand and get the permits that they need. And it was really kind of eye-opening to see, you know, like I said, in the oil and gas business, we know how to do this. We’ve, you know, we’ve been running engines and managing engine testing and all of those requirements for such a long time. It’s, you know,
Stu Turley, CEO, Sandstone Group [00:28:05] and you just need to find your circuit if you’re a small operator, if you’re a large operator, you don’t care and you can come in with a turnkey solution. So you can sit there and go, I got bad gas. Wait a minute, I got gas flaring. Sorry, but you got to make sure my wife’s not listening, she’s going to beat me up on that comment. But we got gas that we’re flaring and then you can say, great. Here I am Kate Galloway with Artemus Energy, and we can come in and go. We know what to do from here to the actual mining. You get everything to
Kat Galloway, CEO, Artemis Energy [00:28:44] get everything done. Wow. Do it the right way. I call it mining with purpose. You know, you’re going to do this the right way. It’s going to have an environmental foundation to it. It’s going to solve an environmental problem. And yeah, we’re going to come in. We’re going to partner together and we’re going to do it the right way. Get all the permits. Get all the equipment right now. One of the issues on equipment is the lead time on getting the equipment so it can take a couple of months before, you know, even if we were to sign a deal today, it would be a couple of months before we could sell all the equipment out there. But that’s fine.
Stu Turley, CEO, Sandstone Group [00:29:21] But Artemus also can once you start having because you guys are data, you guys can start than saying, Hey, we’re saving you x number of thousands of pounds of CO2 emissions. Yes. And then that can go into their ESG reporting and solution investors.
Kat Galloway, CEO, Artemis Energy [00:29:40] Absolutely. Nice because you know the investors want to know. And yes, we will help quantify that every year and say, this is these are the reductions that you’ve made. And what’s also very interesting is that the type of investors right now who are going into the bitcoin projects are primarily private equity, and you’re not seeing a lot of traditional banking going for these kinds of projects. I’ve got a couple of theories about that. But you know, I think that the traditional banking kind of has a bad taste in their mouth for energy to start with, right? But also, you look at bitcoin, which is kind of the opposite of a centralized banking model, so. Right? But you do have, you know, the private investors in the firms who are really excited about bitcoin mining. And then when you tie into it, the environmental components of it, and how this can actually solve problems, then people are lining up at the door to be a part of it. It’s really it really is exciting.
Stu Turley, CEO, Sandstone Group [00:30:48] You know, I think this brings up a really good point is that if you’re an oil and gas company and you’re trying to entice or get new investors, you can say, Hey, look, if you’re not wanting to invest in oil and gas, but you want to invest in something that has ESG, this makes a lot of sense.
Kat Galloway, CEO, Artemis Energy [00:31:07] It does. And we can help you set up that business case. So every one of our projects will have a financial business case and an environmental business case. So being able to quantify those environmental benefits is really part of the puzzle for us.
Stu Turley, CEO, Sandstone Group [00:31:24] OK, so let’s say I’m somebody like a Pioneer. Some company, some small company or anything, and I say, Hey cat, I have no idea about became bitcoin mining. You will come in and do what.
Kat Galloway, CEO, Artemis Energy [00:31:43] So I’ll come in and look at strategically the sites, the locations where they are, how much gas is available from each site, put together a business plan from a logistics perspective, how many facilities are we going to build from a bitcoin perspective? Can you quantify the emissions from bitcoin mining? Compare it to their current emissions? Here’s Delta, right? Here’s the delta in emissions, and here is how much that can be worth for you in. It’s worth different things to different operators, right? If you have a company that has publicly said that they’re going to eliminate flaring. Well, maybe that’s a little bit more valuable to them than to others. So we work with them to understand, you know, how to quantify those environmental benefits. Can we take this and put it on the carbon market? How much money will you get from that? Can we help you increase production? You know, if that’s a possibility, if you’re not producing in a field because there is no gas infrastructure, well, now that you have something to do with that gas. Let’s talk about the finances of it and how that will open up other things for your company. So, so really, we come in and we do the technical side. We do the high-level finances because the top brass at the company has got it. It’s got to make sense financially. If it’s not going to make sense financially, what’s the point? Right? So it’s going to make sense financially. And then when you put in the environmental component of it, that’s the other half of the puzzle. And it can really just be the cherry on top and a lot of cases. So we work together to do all that and, you know, put forth a project that we think would be a good fit for the company.
Stu Turley, CEO, Sandstone Group [00:33:45] You know, I just I love your enthusiasm about this whole process. This is kind of cool. It’s fun when you go out and you’re not selling your evangelizing and there’s a difference. And I applaud that. And your bright sky has been around for quite a while and you’re the president of it as well, too. Is that correct? Yeah.
Kat Galloway, CEO, Artemis Energy [00:34:10] So started bright sky in 2018. So a few years now, not terribly long. But I had to have career experience with the big consulting firms really to know what I was doing before deciding to start off on my own.
Stu Turley, CEO, Sandstone Group [00:34:25] So frightening being your own boss and it really is.
Kat Galloway, CEO, Artemis Energy [00:34:29] It is. But also for me, I have I don’t like to be told no. That’s just one of my personal flaws. So having my own company, you know, I’m not going to be told now unless it’s from my clients or, you know, the banks and stuff like that. But you know, at least if I make a mistake, I can blame myself.
Stu Turley, CEO, Sandstone Group [00:34:51] I’m right there with you. But you know, OK? Also, you’re involved with energy strong. Tell us a little bit about energy strong.
Kat Galloway, CEO, Artemis Energy [00:35:00] Yeah. So Energy Strong is a great group and of Colorado, that really advocates for the oil and gas industry on the national stage. So they’ve been around a few years. They did a lot of grassroots advocacy a couple of years ago when a lot of the oil and gas regulations were starting to take a turn for the worse in Colorado. And I cannot I can’t pretend to know all of the details about all the Colorado rules because, you know, I’m here in the Lone Star State and things have been really good for us. But anyway, so I was approached by energy strong because they wanted to do a podcast in which they talk about oil and gas environmental topics. So they offered me to come in and talk about my experiences in the air quality world. And I was a little hesitant at first because I had not historically listened to a lot of podcasts. So it was scary. It was a new thing for me. But I’ve got a great team working with Patrick Shower and, you know, Andrew and everyone. So it’s been really great and I’ve really enjoyed it a lot. So I feel like I’ve been able to, you know, bring my voice to the stage in a small way and really to interview a lot of other people who are doing some really cool things in this. Yeah, it’s fun. I’m enjoying it.
Stu Turley, CEO, Sandstone Group [00:36:36] It is fun when we can share that. And just as a shameless plug for my company, we also have. DIY community and we have helped oil and gas companies navigate through the Colorado legislation, and we have a way that we can go in and take all of the gas data and map it out and then try to make sure we follow all the rules and get to the right thing. So if you ever need any help with that kind of thing with your ESG, we’ll talk after.
Kat Galloway, CEO, Artemis Energy [00:37:06] I’m also on the board of the Texas Alliance of Energy Producers. Nice. And that’s a great organization here in Texas, and I’m on the board and I help with environmental questions. Usually, I do not. I just need to figure out how to clone myself. That’s my next project. But now that is a great organization, and they’re doing a lot of really good things for the independent producers here in Texas as well.
Stu Turley, CEO, Sandstone Group [00:37:35] Oh, that is great. So what’s coming around the corner for Cat?
Kat Galloway, CEO, Artemis Energy [00:37:41] Well, I’m really, really getting Artemus Energy off the ground is what I’m working on now. I’ve also got a lot of great projects that we’re working on for Bright Sky. So it’s growing. I’m bidding on some really exciting projects and building the staff at Bright Sky. But then also like my free time is is definitely Artemus intensity working with various other firms who are helping me market. And then meetings all over the place with various operators to present this business in an environmental case to them. So I’ve been doing a lot of traveling, getting out on the road, and talking about it a lot. I think that my eight-year-old daughter says that she’s told her teacher that I am an environmental person and that her teacher may want me to come to the class and talk about environmental topics. So that would be really exciting for me if I could get an audience of eight years old and talk to them about energy and their realistic way. So, so that’s coming around the corner, too.
Stu Turley, CEO, Sandstone Group [00:38:53] But, you know, that is something that the energy company or the energy and oil and gas companies have not done very well in the past. And that educates, folks. That’s right. And so this is cool that you’re bringing that message of education out.
Kat Galloway, CEO, Artemis Energy [00:39:08] Yeah, it’s been exciting. I’ve been able to talk. I went to the University of Texas in Austin, and I keep a great relationship with them. So I’ve been able to come back and give some presentations to some of the senior design classes. I’ve been really engaged with some of the undergraduate groups and have been bringing on women from that program into Bright Sky. So, you know, really starting with the education part of it and, you know, being able to dispel some of the energy myths early on while also, you know, teaching them about, you know, I gave a discussion in a senior plant design class and you know, they’re working on, well, how do I design this process and blah blah blah? And I was asked to come in and give a one-day lecture on environmental considerations. So, yeah, you want to design a chemical plant, but you know, you can’t just go build it right? There are certain things from an environmental perspective you’ve got to do. So it’s been fun to engage in that way and really bring some of that knowledge out to the next generation.
Stu Turley, CEO, Sandstone Group [00:40:18] I got two quick things, and that is, I have to have you share a story. Your first podcast came out not very long ago and you were scared. You wouldn’t just tell us a little bit about being scared for your first. First, I guess.
Kat Galloway, CEO, Artemis Energy [00:40:35] Sure. Well, I mean, it’s interesting. Podcasting is different because you don’t really have a live audience, right? And it’s you’re having a conversation, but it’s different. So I have no problem with live audiences. I’m a blues musician. I’m a belly dancer. I have no problem with being on stage and doing things. But just for some reason, just the podcast was just really kind of nerve-wracking for me, and especially like getting it going right, getting them. You do a great job with your energy and excitement and you know, I commend you for that because it matters. And when you’re on a podcast and it’s kind of quiet, it’s just as hard to get started. But, you know, I’m learning a lot. Learning about some of the mistakes that I make in the way that I talk into the, you know, on the podcast. But it’s a learning opportunity, and I’m really having fun now.
Stu Turley, CEO, Sandstone Group [00:41:34] I’m not going to brag, but you’re doing fabulous on the two that you’ve been on with me. And I just want to give you a shout-out. The gang over there, it Energy Strong, so well done, and I’m looking forward to seeing all videos cut and everything else as you migrate to video because it does make it easier. I’m just going to give you this little thing. It’s easier to have a conversation this way, and the podcast is a lot easier. So you’re an old pro at this. So and we’re going to have a little contest with this. We’re going to buy some energy, strong memorabilia, and things, and we’ll figure out how to get people to watch this and contact you. And we’ll figure that out and we’ll buy the merch. So awesome. We’ll figure that out and can’t thank you very much for stopping by and we’ll get this. All your contact information will be in the show notes as we get this thing out rolling out. Thank you. Look forward to visiting with you again.
Kat Galloway, CEO, Artemis Energy [00:42:37] Thank you. It’s been such a pleasure. I’ve enjoyed it still. And, you know, looking forward to more conversations in the future.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat.
Stuart is on Board Member of ASN Productions, DI Communities
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.