Anyone who has listened to the Energy News Beat podcast for the last 3 years, knows that Michael and I have a passion for spreading the word about ending energy poverty. The only way to eliminate energy poverty is through low-cost, sustainable energy, with the least environmental impact.
In this episode, Dan Gualtieri, Executive Director Client Success at Inside Petroleum, Inc. and I cover a lot of critical issues in how oil and gas companies can keep their costs down, and even monitor their carbon footprint. You cannot fix what you don’t know is broken and ComboCarbon is a great way to track to get a baseline and improvements.
The time that oil and gas companies can save with having the right tools is just money to the bottom line for investors.
On a personal note, I have had the opportunity to work with CEOs and get data to accounting and out to the investors with the help of ComboCurve’s financial strength and modeling. Sandstone has not worked with ComboCurve but is gearing up to help get more reviews on that great topic.
The world is in a geopolitical nightmare, and we need our United States oil producers more now than at any time in history. Coupled with the financial markets, investors are moving to energy, specifically oil and gas investments.
Stay tuned for more updates on our extended series on oil and gas financial modeling and incorporating the ComboCarbon into the financial aspect.
Also, I would like to give a shout-out to John and the entire staff over at WellDatabase as a new sponsor to the podcast. We use their data for our well modeling and financial forecasting. They are critical in saving money when drilling. We are just getting rolling!
Follow Dan on his LinkedIn HERE:
Dan Gualtieri, Executive Director Client Success at Inside Petroleum, Inc. https://www.linkedin.com/in/dagualtieri/
More information on ComboCurve and ComboCarbon HERE:https://combocurve.com/
00:00 – Introduction
00:37 – Benefits of Combo Curve software for optimizing natural gas and oil prices
01:26 – Shared connection to Oklahoma State University and academic backgrounds
02:53 – Roles at Combo Curve
04:20 – Importance of conversational analytics in oil and gas industry amidst supply chain disruptions
09:13 – Combo Carbon and its significance in carbon capture and measurement
11:07 – The role of integrated data tools like Combo Curve in sustainable energy production
16:13 – Empowering reservoir engineers with Combo Curve for ESG modeling and sustainability
22:07 – Expansion plans for NPR operators like Exxon
24:25 – Importance of automated workflows and accurate data in asset evaluations
28:22 – Automation and data analysis in the M&A market
30:58 – Future plans for Combo Curve International
36:26 – Future plans for Dan Gualtieri
39:01 – Closing thoughts
40:23 – Outro
41:01 – RNCN Video
Other great resources from Sandstone and Energy News Beat
Real Estate Investor Pulse https://realestateinvestorpulse.com/
1031 Exchange E-Book https://alternativeinvestments.sandstone-group.com/en-us/tax-benefits-sandstone-group-0-1-1-0
ENB Top News https://energynewsbeat.co/top-news/
ENB https://energynewsbeat.co/
Energy Dashboard https://app.sandstone-group.com/enb-dashboard-version-2
ENB Podcast https://energynewsbeat.co/industry-insights-2/
ENB Substack https://theenergynewsbeat@substack.com
Michael and I are on a mission to talk about energy. If you are a thought leader, government-elected official, CEO, or author of any energy market, contact us and get your story out on our news and podcast channels.
– Get in Contact With The Show –
Stuart Turley [00:00:03] Hello, everybody. Welcome to the Energy News Me podcast. My name’s StuTurley, president and CEO of the Sandstone Group. I’ve got an action packed show today. I mean, I normally have somebody cool. I got somebody cool from Combo Curve that is just absolutely phenomenal. I’ve got Dan Gualtieri. I hope I got that right. Italian.
Dan Gualtieri [00:00:26] It’s Gualtieri
Stuart Turley [00:00:27] Gualtieri, I’m sorry. Hey, it’s a Gualtieri. Welcome. Dan, how are you?
Dan Gualtieri [00:00:32] I’m doing great. I’m happy to be here on your show and in Dallas with you in person. Oh, this is.
Stuart Turley [00:00:37] A this is better. This is good. I want to give our listeners just a little bit of inside baseball. I love Combo curve. And if you want low cost energy to your house, you need natural gas oil. If you want to get the price down on your core, you need to have a drilled lower cost combo curve. Does such a phenomenal job that it is well reservoir all the way. I’ve taken it from the well to the investor, from the investor to the CEO. It is unbelievable the power of this software in saving money and it goes all the way to the consumer. And so from the well to the investor to the consumer. Welcome. Thank you very much.
Dan Gualtieri [00:01:24] Absolutely not. Thanks for having me.
Stuart Turley [00:01:26] So I’ll tell you, when you send over your resume, I mean, you got a pedigree and another little bit inside baseball. You and I went to Oklahoma State University.
Dan Gualtieri [00:01:35] Now, I love Oklahoma State one day, Right. So it was so well focused, so well-organized.
Stuart Turley [00:01:40] Now, where what did you get there other than dates?
Dan Gualtieri [00:01:44] Yeah. So I was compressed video is back in nineties early nineties first compressed video program we did masters I did a master’s in electrical engineering in two and a half years. Wow. And then my MBA to follow that. And that took actually more time as a three year program. It was more busy work and less technically challenging but more intellectual, Right? So.
Stuart Turley [00:02:05] Oh, interesting. I’ll tell you, I love Stillwater, love Coach Gundy. I was there when Coach Gundy was the quarterback. Jimmy Johnson was the head coach, Pat Jones was the defensive coach. And I got to tutor Dexter Manley and it was right he couldn’t read. So I mean, it was they did not do him any favors. Greg I love Dexter, but holy smokes.
Dan Gualtieri [00:02:32] Nothing but upside. We call those people with a lot of upside potential. Right?
Stuart Turley [00:02:35] I love Dexter, but you know what’s sad is he got a higher score on my test that I helped him with in business law. He copied my answers in the test during the test, and then he mis copy them. So they gave. And I’m like, Oh, I’m going to get thrown out of school. So anyway, A [00:02:53]Tell us what you’re doing for Combo Curve, [3.2s] and we’re going to go back a little bit later for your history on hand or on it from school to there, but what do you do in there?
Dan Gualtieri [00:03:03] I’m executive director for Customer Success. I’ve known Armand and Jeremy on the combo curbside before they started Combo Curve, so I watched them grow up from basic studies into an early stage platform, into a startup, back into a full fledged trout reserves and economic platform. That is just been the best tool that I’ve seen in the industry that was developed in the shortest amount of time. So the platform has been really, really impressive to watch it evolve and see the culture change from a startup pre startup startup to truly a entity that is beyond that, that’s a real company today.
Stuart Turley [00:03:42] It’s being real. Being on my site didn’t mean to interrupt me, but I’ll tell you what, on my side, I saw your people take me and my team from problems. My team was working with your customer success story and that is huge. I’ve been on this side of it, sitting there with other CEOs. Look at me going McFly, and I mean, I’m like, over here. And I mean, they would call, they would work, right? Our guys would work with that. Michael Tanner, want to give you a shout out. But anyway, and all the other guys that help with us on that. So that was me and passed it.
Dan Gualtieri [00:04:20] You know, we start talking about conversational analytics, the ability to actually have a conversation around the data, around the project and the fact that you could take a team, right, and save weeks of time to get where you would be early on in that lifecycle, then you could spend more time running sensitivities and truly understanding the asset where most of the time you spent 80% of the time to get to an answer, right? But you don’t have time to do the sensitivity workflows, the what is the answer product that has to be given to the private equity group, to the bid to truly understand it. So what do you do? You de-risk it, right? I don’t want to de-risk it. I want to understand where I’m really at and then de-risk appropriately rather than de-risking because I don’t know.
Stuart Turley [00:04:59] Oh, absolutely. And and so when you sit there and you take a look and. Oil and gas with these supply chain issues we’ve had here. Dan, this has been awful for the MP operators out there. I mean, the costs have doubled. The oil field service folks are getting slaughtered. Right. And so when you take a look, you better know from your engineer, reservoir engineer, the you got some good data and that’s going to be a good well, and that it’s critical.
Dan Gualtieri [00:05:29] To be all about reducing risk at the end of the day, reducing uncertainty, reducing risk. The if the entire oil and gas industry is getting more efficient. Right. Right. So it’s taking less people to drill better wells. And a lot of it’s due to technology improvements, workflow efficiencies, combo curve touches every aspect of oil and gas, group R&D, production, engineering, asset reserves and integrating all of that into one workflow. That’s the power of what Docker can deliver. A lot of clients are starting to figure this out, but you’ve got to start with baby steps. You’ve got to have a small team using it, right, prove it up and then it expands. In an organization. The true power is that integrated workflow where everybody’s using one one form of truth, one data set rather than separate workflows.
Stuart Turley [00:06:15] You know, one of the things that I really loved about the support team was several of the folks that we worked with did not have very good hooks into accounting, and so we were able to bring hooks in to the accounting because if you’re not understanding, because it complex is so tough, you have so many mineral rights, you have so many shares, you have so many of these kind of things. And so being able to bring the data in, how much? Well, I mean, how much oil, you know, we were able to take scattered data all the way in. You have new reports every day, every day to the investors. And we’ve done this I’ve done this before and other things. But if you take that data, tell me an investor is not going to love sitting there going, hey, we just had 5000 wells come out today. Yeah. Holy smokes. Right. That’s strong. So, yeah, we.
Dan Gualtieri [00:07:14] Had a conversation, one of that, a very sharp software programmer I worked with basically had a saying, We don’t know what we know organizationally. We know a.
Stuart Turley [00:07:23] Lot. We don’t know what we know. That’s a T-shirt. Wait, now.
Dan Gualtieri [00:07:28] Oh, you guessed we would do a whole class on that. And I could. I can do I can do a whole curriculum on that. But that workflow. But the whole idea is we have databases, we have people, they have engineering assessments, the engineering results, laptop on their server. We have database, it’s field production, drilling reports, completion, petro physics, log analysis, all that data has the domain with combo curve and our focus on data connectivity data set right and grab this data, integrate that into our workflow and put it in a spot where people can touch it and that.
Stuart Turley [00:07:59] Great.
Dan Gualtieri [00:07:59] There was a study out there that basically said, I spent 20% of my time collecting data, right? What 20% of an engineer is? I’m just collecting data. You’re not doing anything with it. He’s not organizing it. He’s not getting it into a form he can use. He’s just finding it and being able to integrate that data into a cohesive workflow and be able to touch the field engineer data. The carbon emissions from the field side that is today separate from the engineering asset team, from the production engineers, from the reservoir engineers, because everybody’s got their own world, their own sense of what what reality is pulling it all together. So now I can do what else? And I won’t touch that data. That data bring it in and do my comparatives and run my workflows using integrated data workflows is huge.
Stuart Turley [00:08:45] Well, you mentioned something really. I’m going to sit here and go, okay, I heard you say something like a nugget, and I got it. Okay, Carbon. And you go through there, you’ve got carbon and carbon next with the ESG and having to be just totally watching the methane and figuring out how much of a carbon footprint that we’ve got in the oil and gas base. When you sit back and take a look at it, [00:09:13]tell us about combo carbon, because that is a phenomenal piece of measurement and everything else. [7.3s]
Dan Gualtieri [00:09:20] Yeah, the integration of the carbon data into your reserves database, into your engineering database is huge and a huge let me explain a true scenario. Working with a major operator, the field engineers are doing carbon exposure, carbon modeling, dealing with H2 assets and facilities tied to that, wanting sensitivities in Excel. Right. Okay. The asset team is running their own workflows, not knowing what the field engineers are, are being challenged with, and the reserves guys have their own their own world. Everybody needs to have their own set of book, so to speak, but integrate that data into the field. Engineers can see what the expense models look like from the reserve side and the CapEx models and be able to do a true analysis using. Knowledge that is in the world what the organization knows the field in years don’t have exposure to it. But when they’re running their models and they’re doing single well, they’re making assumptions, the expense models may or may not match the price stacks may or may not match. There’s no excuse today why that information can’t be touched and shared to the right people with the proper security access. So now I’m going to make your resume, your production engineer, smarter. Another major operator said production in years and years only do production things. They’re not supposed to look at economics. How in today’s market do you not drive an engineering decision based off of the economic impact?
Stuart Turley [00:10:41] Absolutely. I can drill.
Dan Gualtieri [00:10:43] The most productive well, the most productive well in an asset, an area in a field, it could be. It wouldn’t be the most economic potentially. I want to know that. And I want my engineers to start thinking that way. That’s a cultural shift that some or some operators are capable of doing. Some are still in that challenge phase. What the production guy do, what he does, what the drilling I do, what he does, and somebody else is going to do the economics.
Stuart Turley [00:11:07] There’s very few people that have both. And we write a shout out to Michael Tanner again. I’ve got a freak that works with me as my co-host on my Daily Show, right? Yeah. I mean, he’s got that. And so when you sit back and take a look at finances and you take a look at the carbon capture, I mean, excuse me, in the carbon output and measurement, investors want to know how good you are in it. In fact, I believe it was Oxy that had their first carbon neutral shipment go out all the way through the whole thing, I believe, to Cheniere and then out on LNG. I mean, unbelievable. When you take a look at an Occidental Petroleum, they have really gotten into the carbon capture, which is different. But on the other hand, when they’re out there selling that all the way through, you got to know what your carbon footprint is in order to get to the investor.
Dan Gualtieri [00:12:09] Absolutely. So Oxy has been one of the leaders in the industry related to the carbon component. It’s very impressive to watch that organization work today due to simplicity. And I’ll touch on one thing back to the production engineer. Why does the production engineer not run economics either? He doesn’t know what the inputs are, right? He doesn’t understand it, or the process to calculate the economics is too complicated and maybe training him on areas or other tools might be a challenge for using Excel, which is could be potentially a flawed model. Having exposure to that data in a simple tool which can Bokor really is that simplistic, that simplistic solution? He can start doing his own economics. You start talking about carbon exposure, understanding your benchmarks, where are you at compared to your peer group?
Stuart Turley [00:12:50] Where are you.
Dan Gualtieri [00:12:51] Trending from last couple years? What combo carbons, integrated data model and macro try to push this but we have there is an integrated data model from the subpart W reports that can be leveraged so your organization can start looking at exposure, can start looking at what’s happening in the industry. I want my engineers to have all the data they can touch, right? And I want them to consume things and do what ifs and look at how are we doing compared to the top three operators in my area right now. I may not be he’s not going to reported on that, but him having that knowledge matters from an organizational standpoint. Carbon matters, economics matter. Right, Right. And you could do the best frack job in the world in a reservoir that has no hydrocarbons. And what did you accomplish?
Stuart Turley [00:13:34] Yeah.
Dan Gualtieri [00:13:34] All right. At the end of the day, you would never know.
Stuart Turley [00:13:37] Well, with, you know, you and I were chit chat right before the show. And it is everybody who’s ever seen the show knows that I believe that we need to deliver the lowest cost kilowatt per hour to all humanity. Let’s get rid of energy poverty. Yes. And I mean, we’re talking Africa, we’re talking here in the US, the disproportionately impacted communities. But you got to do it sustainably. And so everybody says sustainable wind and solar, those are not currently with their technology, sustain them because you’re having to print money in order to get those done. Natural gas, nuclear, wind, solar, hydro, I don’t care. We’re all let’s get humanity out of here. Now, that being said, there’s a lot of funding from the federal government that has come in, but you got to prove that you are. They snuck in nuclear in some of this and then they snuck in natural gas available for some of this money. So you mention Occidental Petroleum in figuring that out. It’s so 50. I think it’s 50% in taxes, though. Oil, which is, you know, the Permian and huge is private oil empire options. So I’m going to get over the place. I’m going here some. When you sit back and take a look in order to get into that funding and you get into the other areas, you got to have and do what Occidental’s done. They’ve gone into the carbon capture, but they’ve also followed their trail there. They’ve done both. I believe this is a $4 trillion market in carbon capture. I could be wrong. And I think that there’s the newest plant that just is coming along in Louisiana that is going to be more than the 18 that are currently in existence around the world. I have to fact check myself, but I think that’s about right. Now. Let’s take combo carbon could be a major issue for getting federal funds or permits done if you’re articulating what you’re doing. And might you see where I’m going with this? Really? Absolutely. How did that sound? That was a long way around. So it was. But it could be critical for those companies under state.
Dan Gualtieri [00:16:05] Spending the time and doing the engineering work appropriately matters. Right, and doing it efficiently. At the end of the day, Right.
Stuart Turley [00:16:11] So no matter.
Dan Gualtieri [00:16:13] Time, effort, physics, absolutely. The ability to model things and do a digital called a digital twin. Call it whatever you want. At the end of the day, I can build a model with facilities, pipeline, subsurface drilling program, flaring strategies, flowback considerations, and I can now do what ifs and the ability to do that in an afternoon when I have a model done or being able to do that distributed. So I have my production engineer able to do this based off of in unison with my ESG team. All that makes people more efficient. That allows them to be more focused on what the emissions could look like. And you had engineers come up and say, if you did it this way, well, we’ll we’ll save it. And you give the engineer the tools to quantify that and not just say, how about this? Here’s an idea. ESG team, Google model. The engineer could have the tools, He could model on his own, and then he can share that with the rest of the organization. So, you know, on the combo curve core side, I’m making I’m saving one engineer for every three. So I’ll give you an extra engineer. And this is this is statistically we’ve done this a lot with lots of customers, traditionally three engineers. I’ll give you an extra engineer. I’m making you more efficient. That engineer is going to get his job done faster so he can move on and do more deal screening, or he’s going to spend more time diving into the science and the sensitivities for the asset to be more effective. On the carbon side, I open up the door where the rest of the team can play in that ESG modeling initiative to reduce emissions and be more emission focused. This all goes back to KPIs at the end of day or corporate benchmarks. What are my benchmarks? What are the executives say the benchmarks are? How does that affect me as an engineer? Can I see those? Can I touch those? Can I quantify those and give them the engineer the tools to have help? That’s what every CEO wants. Every CEO wants to have his team in unison with him. Right? Right. Benchmarks, KPIs, tools that matter. Efficiency.
Stuart Turley [00:18:04] But you know what? The everything we have talked about is the ability for the reservoir engineer to articulate to the CEO so he can do his job better. And a lot of times you nailed it that the reservoir engineers don’t know what you get them spun up and combo curve. All of a sudden they’re going to be you know, they’re going to be all nerds right now. Excuse me, but there are a lot of them are nerds. And I’m I’m attracted, by the way. So, you know, you sit back and kind of go, wait a minute, the CEO gets better, the CEO, the whole C-suite gets better. I mean, they’re more they.
Dan Gualtieri [00:18:41] Get more data, the C-suite gets more accurate rep reasonable data faster. Right. And I go back to metrics and dashboards. All of this can be automated to a point where everybody could hop in, even the management team at the management level, at the engineering level, can hop in and say how we’re how are we doing from an asset perspective, from a company perspective, and see those benchmarks. Their their decisions.
Stuart Turley [00:19:01] Matter.
Dan Gualtieri [00:19:02] When they look at corporate goals and they can actually see those.
Stuart Turley [00:19:05] Right? Right. Without name dropping. I just had Dr. Patrick Moore on my pile. Nice. He’s so cool. Nice. I just I really I really like him. And he came back for the saying when he says out outcome, there’s more, but you got to go check those out Those are van tastic podcast because my guests I have wonderful guests but here’s the thing with Dr. Moore and that is with the Zaleski. See, that’s going on in the renewable space if we don’t educate people about using all forms of energy. You know, I mean, I I’m I’m sitting here saying that I can recognize that a CEO from an oil and gas company can articulate to his folks in help educate folks. Nick over it. See, I believe at CNN, the CEO over there. He is cool and he’s out there shouting out how to be humanitarian. I mean, Iowa, you know. Yes. Immigration. I just I love him. And also you have the others that are out there. Anyway, I got a bunch of them out there. But he is a humanitarian. I mean, and when you take a look at that, I’ve seen it firsthand. Everything that you just said. Yeah.
Dan Gualtieri [00:20:30] It’s amazing to see how the industry really cares. It really does. And yes, and putting the right tools in place allow people to do their job and pay attention to it. If you don’t have the tools, then you say, well, shrug my shoulders. Well, I can’t I can’t model the impact I have. I don’t know why change it? I change out pneumatics to electric valves. Do I change my flowback strategy? What’s the cost impact If I do change my flowback strategy related to my exposure and cost impact, do I get dinged on my asset costs? At least I can assess those, right? What’s my price point? I need to have to do a different type of flowback or take, you know, the gas to a generator solution and be able to model that in on an afternoon, You know, have a conversation around it. Right. It’s not a week study.
Stuart Turley [00:21:14] Right. But when we sit back and take a look at the Permian and we take a look at, you know, we have the Powder River, you have the Jay and you have the Marcellus Shale and all these kind of things. So you’ve got all of these across the country. We have Exxon and we have a few of the others that are now saying that they’re going to be able to continue to grow our production in the U.S. by even better efficiencies, just like we’ve talked about. But they’re also going to be able to everybody saying, oh, all the good area and now we’re going to go to the next not nutshell famed.
Dan Gualtieri [00:21:56] Tier two, Tier.
Stuart Turley [00:21:57] Three tiered and then all of those kind of things. So what is your answer to that? Because I’ve got my opinion, but I want to hear what your opinion is. Tier two, Tier three, [00:22:08]how is Exxon and all of our great NPR operators going to expand now? [5.0s]
Dan Gualtieri [00:22:14] Yeah, well, I mean, obviously you drill the better wells. First rate economics one on one. I’m going to I’m going to do the best job I can. And there is I know what the least amount of risk with the most well control. Right? Then I’m going to move and try to continue to develop the other acreage positions. Right. But you can model these acreage position issues. You’re still have the efficiencies of better tools, better data collection, better tools, faster workflows. You’ll be able to manage this with less people, but you still can quantify it. Is it economic? What kind of financing do I have to have? What does that program look like? And it’s not a team of people and months worth of work that to get the dollars answer to those. What else? Every management team says change this, change this, change this. I need an answer tomorrow. And some people are spending all night doing it and maybe they get half answers or you’re going to make assumptions. And I hate assumptions as a as an engineer doing deal evaluations, my biggest fear was having data that I didn’t touch. I didn’t have time to touch or use into my workflow. And that scared me because I knew it was there. Right now I feel I feel obligated to use it if I can consume it.
Stuart Turley [00:23:16] Well, I’ll tell you, I’ve been on that other issue or somebody’s got a gigantic presentation for millions of dollars on the table.
Dan Gualtieri [00:23:26] Well, let’s talk about this topic. Okay. I have nothing on the.
Stuart Turley [00:23:28] Topic of billions on the table, and I’m serious. And when you sit back and say, well, when you price all your stuff out in the narrow way, it’s gone, strip pricing. Yeah. But you get all of these people saying, you know, we’re at $90 oil or worry or we’re there. What if.
Dan Gualtieri [00:23:45] 85 flat? I hear that a lot.
Stuart Turley [00:23:47] And I know, I know. And you know, and when you’re well is profitable at 65 and it’s great our allies and you look at the strip that strip pricing as it’s moving out there. Yes. But I love the what ifs what in this song combo Curve was so cool because you can sit back and kind of go like Putin, you know, hey, you know, I wasn’t like, was Fonzie not fuzzy? You know, Fonzie instead of like a Putin? My, my Putin imitation is so bad. A you better like, listen to me is Yeah, yeah. But anyways, you I’m going to.
Dan Gualtieri [00:24:25] I do sensitivities the ability to run the sensitivities and I true example is working with a group where they were looking at a Bakken deal the price deck from a reserves company. When I plotted the price deck, it took off and it was probably a true valid price deck at the time. And this was six months later I was helping them do a reevaluation. Prices just didn’t make sense, right? We ended up using the strip strip when you plotted them, ended up going like this versus like this. Well, that Delta was huge. At the end of the day, I think it was in every point in time. And if you look at those, all those. Different price decks in the world. They’re overlaid on top of one of their and then reality security to be wrong. Right now the question is how wrong? That’s millions of dollars. Right. Okay. I’m going to dive into automated workflows and I’m going to touch on proximity forecasting, the ability to create fit for purpose type curves based off a well’s geo location and completion constraints, surface and subsurface constraints into an automated process. So just go down. Down this path. I have 1000 1500 wells in a deal package. Okay, I could decline curve analysis, a bunch of those. I can QC those using diagnostics, I can get the best fit, which are I can pull those, I can collapse those. That’s 15 minutes on 800 wells flooded wells are out. Not enough production data spotty production data are volatility start and restarts refractory complaints. All of that falls into that bucket. I will add some volatility. Auto forecast works well, but you’re not going to do this off a four or five or six months of data, right? Right. Doesn’t one what do you do? You build tigers, spend time, build type curves. I talked to one client this morning, have 407 type curves, and now they’re trying to get those out to do statistics on those tigers. I said, but proximity only this for use each well can have its own type curve based off of constraints. Vintage proppant. What a fluid loading thickness. Other aspects. I could bring all that together, but I automate proximity in combo curve is the only tool that automates that workflow at scale. And now I can take that to any type of compare to type curves compared to other decline analysis. But I have a true fit. I can generate a P ten 5090 average assessment with real data, real wells around me, and I can grab five, ten, 15, 20 wells and do this click, let it run. I’m working on economics. I’ll come back to see it. Oh yes, we’re talking on 15 on 400 wells. We’re talking 3 to 4 minutes that I see is going to take a little bit longer. But okay. And then in an hour I’m pretty happy. Oh, millions of dollars.
Stuart Turley [00:27:04] From.
Dan Gualtieri [00:27:04] Tens of millions of dollars on an asset. And then you can do your own sensitivity terminal decline, what’s a half percent up and down assessment on terminal? What is this rate decline type curve? Proximity variance. So I had a bound. Now I have a window. What that asset my risk tolerance but that window based off of uncertainties and then I can add my own de-risking factor if I want to simply reprice. Next, I could run all those annuities with the priced X simultaneously, right? Just build my script and let it run.
Stuart Turley [00:27:35] You know, I can I can see this also in the huge M&A market right now. And so when you sit back and take a look, you just described about 16 things right there for him, why my head’s just sitting here spinning because I’ve used this in talking to folks and I got a shout out to RG Trevino because he is shakin and moving out there. And so when you sit back and take a look at evaluating a potential sale, you’ve got companies that want to get out of an area. This is a really a good deal. Yes. Are these worst reworking, are they not? You know, and so, you know, I know that Artie just had a well come in and it’s rock solid and he’s already.
Dan Gualtieri [00:28:20] He’s a happy camp.
Stuart Turley [00:28:21] Oh, yeah.
Dan Gualtieri [00:28:22] He’s he’s ready to go. Yeah. That’s all I can drill well now. Oof!
Stuart Turley [00:28:26] Yeah. How my car, you know. So anyway, but you take a look at that aspect of it, the M&A, how do you see the M&A side of things coming around the corner? You know, everybody it gets a little weird when you’re sitting there going, I used to have a pretty good thumb on oil price. I used to have a pretty good thumb. It went out the window, you know, a while ago. What are you seeing in the market for M&A is because I see it as a good potential, But I don’t know what you’re.
Dan Gualtieri [00:28:57] Yeah, I mean, younger engineers getting in there, playing specifically on the banking side, just running their due diligence. I think the ability to define a due diligence process. Right. And run these things because experience, technology, experience takes a long straight up takes a long time to put in place. I knew guys, I could sit there with a big chief tab on Yellowy and come up with an asset valuation on a tablet, and it was pretty frickin good, right? But the younger engineers have to run these sensitivities to learn the impact. Does it matter if I look at tail percentages back to my asset value? Right. Well, plus 15 years, probably not as much. Obviously, you would think so. But being able to screen high level screen deals quickly and then figure out where to prioritize your time. And do you have an engineering team that’s got, you know, 15 deals coming in the door and you don’t know where to spend your time? How are you going to pick? Yeah, I knew I could screen these very quickly and prioritize based off of fit for purpose. Pass some of these off to another group potentially to work that has a better fit for these type of assets. But you could. Touch every deal today. Oh, yeah. In theory. And then run your sensitivities and script these automated sensitive components. So you’re spending time analyzing and looking at data, not running, pushing data back and forth. Right.
Stuart Turley [00:30:16] And you know what?
Dan Gualtieri [00:30:17] What the what the automation work for you.
Stuart Turley [00:30:19] I can tell you your the when your name is that way that you’re speaking with your hands or you’re pounding on the table or. Yeah. Yeah. I was going of going, you know, and I got my lousy imitation of boot and it sounds more like was this Sopranos The Sopranos.
Dan Gualtieri [00:30:35] Yeah, there is a Gualtieri in The Sopranos, by the way.
Stuart Turley [00:30:37] Oh, that’s piece. I love The Sopranos. I thought that was a wild show. I mean.
Dan Gualtieri [00:30:43] Brought back, remember, as a whole.
Stuart Turley [00:30:47] I wonder if Putin whatever, show up on The Sopranos, if they ever did a remake, You know, they can’t do it.
Dan Gualtieri [00:30:53] I think you’d fit right in.
Stuart Turley [00:30:56] But anyway, when we sit back and [00:30:58]talk about what’s next for Combo Curve International, [2.9s] are you guys looking at going wild all over the place?
Dan Gualtieri [00:31:05] Yeah, Focus wise, obviously carbon’s a big, big focus. We want teams to be able to model their carbon exposure, whether it’s top down and bottom up by top down, meaning taking the data that’s already been submitted to the EPA, leveraging that over vintage by operator by area and using that as knowledge related to, Hey, if I’m doing a deal evaluation, I want to know where they fit in that carbon stream exposure stream based off of their peers in that place because it may make a difference, right? Or I want to be able to model the facilities from an asset manager standpoint and understand if I improve my facilities or I do something special, what’s that cost impacting? What’s going to be my reduction or impact on carbon taxes later night? So carbon ads, all of that workflow that’s core for us because we want to support the industry. We want to be there and make sure the industry has the right tools. We are one of the most advanced carbon modeling solutions for operators today. Yeah, great. Hands down. Where else do you go? Well, the lifecycle of combo curve further advanced the well planning, the scheduling, well planning workflows, taking that to that next level. Diagnostics for economics, respiratory needed on a workflow related to understanding, like we do diagnostics for production forecasting diagnostics based off of sensitivities, and then eventually you have to start scripting these and do your auto sensitivities, automating that sensitivity workflow automatically. Wow. Right. So KPIs, executive level, every every major group has KPI production. A&E teams was working with a trading group that had a distributed team, a couple of guys in London, a couple of guys in Canada, a couple guys here. I’ve been able to grab their portfolio of deals, evaluated one lost bid, not bid and aggregate those into a automated report for the client or for management. What do we do? What do we say we’re going to do? All that data is in one spot or not all over and different engineers, desktop, so to speak. Huge upside. And then the Canadian market, I was a very big focus from the Canadian side. Right now there’s a lot of activity, there’s a lot of interest in supporting the Canadian market as the next step.
Stuart Turley [00:33:16] I love the Canadian market. I mean, they’re such good people. I got some good Canadian folks up there. I tell you, I just have always enjoyed Calgary. It’s good, good place. So next time you’re going up there, I’ll go with you. I’ll carry your.
Dan Gualtieri [00:33:30] Bag. I need to make it to the stampede. So that’s my that’s my one of my on my bucket list. Okay, cool.
Stuart Turley [00:33:36] But we’re going to avoid the forest fires that are up there right now. Of course. Yeah, Yeah, we’ll leave that. But as.
Dan Gualtieri [00:33:43] Flooding a couple of years ago.
Stuart Turley [00:33:44] Wasn’t it. Do what they.
Dan Gualtieri [00:33:45] Were flooding a couple of years.
Stuart Turley [00:33:46] Ago. Yeah. Go figure that out. But you know we sit here, we laugh about Putin and stuff. Didn’t you just come back from Russia? I did. Oh, tell us about that.
Dan Gualtieri [00:33:56] Oh, that was a trip. Now, very good. People, honestly, at the end of the day met Greg. Was it almost like being here in the U.S.? Wow. Street signs were in a different language. People were good at friendly that they like Americans at the end of the day, which is interesting.
Stuart Turley [00:34:12] You know, it’s not the leaders of the world. It’s the people. I guess, you know, I just anyway, one of the benefits to my podcast is I get to speak to folks from all over the world, and I just I thoroughly enjoyed it. And I’ve got a few Russians that I correspond with as well, too. And they’re great people. Absolutely wonderful. I mean, you sit back and kind of go, I wish all the leaders could get along.
Dan Gualtieri [00:34:40] That’s that’s my vision as well. Now they get certain it’s just tragedy where we’re at today and why we’re where we’re at and would like for everybody to be able to fix it.
Stuart Turley [00:34:52] Countries go to war over energy. Yeah, and I am so proud to be in the energy industry talking. To nuclear folks talking to midstream, you know, oil and gas, even renewable and storage for battery out of Norway to call people. Yes. They’ve got the only renewable batteries for storage out there. And I mean, when you put a storage facility in there and it’s renewable, that cuts down on the child abuse. So, yes. Now, when you know, there’s no child abuse with the combo curve because everything’s software in here in the U.S. or in Congo, child abuse and everything else just drives me nuts with the critical minerals. But as we go here and you’ve already you’ve got several patents, you you know, you’ve got your resumé from OSU great school of my time at OSU, OSU.
Dan Gualtieri [00:35:52] Undergrad Rolla, Missouri. I got to get a shout out for Missouri School of Mines, Missouri. Oh, University of Missouri Science and Technology today.
Stuart Turley [00:35:59] Right now I got a very low score. I don’t want to tell anybody that, but I got a very low GPA at OSU and I had to get mine from my MBA from Oklahoma City University. So, you know, shout out to Oklahoma City University as well. So you’ve had a heck of a career.
Dan Gualtieri [00:36:16] Love it. I love it. Yes. Oil and gas has been great.
Stuart Turley [00:36:19] I saw your pedigree. I mean, your resumé and everything. And you’ve spoken around the world, all these kind of different things. And [00:36:27]what’s next for [0.9s] you? Oh, wow.
Dan Gualtieri [00:36:32] That’s a tough one. I’m just continuing to work in the industry. You know, be a be a champion, work with teams. You know, I always take I take jobs, work with thing, work with good teams. It’s all about the people right at the end of the day. I can go back several several steps in the back end. And it’s always good people trying to do good in the industry, trying to matter. I love inner energized people, people that are highly motivated that can go. I go back to the boots and couch days. I was director technology for Boots and Coach. That team was just amazing. I worked with Jerry Winchester and he was part of special services of Halliburton. He came in, became CEO of Boots and Coach, and then we started working together when he was one Boots Are Kids was acquired by Halliburton. Just loved working with dynamic people, people that care, that are focused with a common vision.
Stuart Turley [00:37:27] The end of the day.
Dan Gualtieri [00:37:28] They get together, they make a decision, and everybody leaves with a common vision, Right? And you get to that vision quickly without as much pain. And people walk away agreeing to support that mission and kind of the goal.
Stuart Turley [00:37:39] But you’re also doing things with, I believe, the Salvation Army, if I remember correctly.
Dan Gualtieri [00:37:43] Salvation Army, a greater Houston with both the Boys and Girls Club. Oh, the Salvation Army as well. I like giving back. Part of it was I blame Halliburton for some of this. We actually want to blame one of the lame how often for me involved in prayer.
Stuart Turley [00:37:57] And I thought that’s what you said I did.
Dan Gualtieri [00:38:00] Apparently, it takes a lot of time and effort to do this. Right. Back in 2004, I was working with Halliburton and I wanted to make a difference. And I started interviewing Charity. Right. And I spent time and it took me about 4 to 6 months. And I talked to a lot of charities at Houston. And the Salvation Army was the one that resonated nice, the religious component that you could get people off the street. Can you keep them off the street? Sometimes you need that that religious component, that belief in God, hey, he’s here with you to make it work. And I’ve seen it work.
Stuart Turley [00:38:30] You know, I’m like, Oh, sorry, I, I applaud you for that. I just want to give a shout out to Jeff Crilly and all of the real news media team. We are here in their studio today, and we had a gentleman out in the lobby there that he was very, very cool. He came up and said, I loved his cross and he like he was absolutely.
Dan Gualtieri [00:38:51] He was preaching.
Stuart Turley [00:38:52] He was preaching. You and I are going to preach on Brother Preacher. So anyway, I’ll tell you what, we got two more minutes to midnight. [00:39:01]What are your last thoughts? [0.9s]
Dan Gualtieri [00:39:04] Yeah, this is exciting. This is exciting to be part of what you’re doing. I see the passion in what you do. So that is just that it drives me to be passionate as well and into these workflows. Closing thoughts is there’s a whole lot of opportunity of the industry to be for us to be more efficient. We can do our jobs better with more environmental focus, making better decisions. Let the tools work for you. Don’t be afraid. Right? I think at the end of the day, people are afraid of change. Change, Change, if it doesn’t work right, can be detrimental to certain people. At the end of the day, you know, get referrals, talk to people that are in the know one thing combo prep is really done well as customer service. When when you make a transition at a condo corp where they’re with you, we step through the whole process with you, you’re not buying at all. And we say, here it is, here’s somebody else. Go watch them. Have a nice day. Do you want training? I’ll check you actual for training. We’re all in with our clients, which is intriguing, right?
Stuart Turley [00:40:00] Oh. I lived through it. I’m over here going preach on.
Dan Gualtieri [00:40:05] And suddenly, you know what? The stuff I do an industry. I want to work with people that have passion and have an interest in being successful at the end of the day. And that drives me as well. So it’s it’s it’s it’s been fun. The industry has been a lot of fun.
Stuart Turley [00:40:18] And people can get a hold of you either on LinkedIn or how silly them.
Dan Gualtieri [00:40:23] 100% LinkedIn, That’s where I spend my time. And then, of course, happy to chat. So reach out to me, happy to do one on ones introductory calls. If you want to just meet and say hello for 15 minutes. Paying me all out.
Stuart Turley [00:40:34] Sounds great. Thank you so much. And I want to give a shout out to our mom and the rest of the combo curve team. Absolutely phenomenal. Thank you so much. I just appreciate your time and for all that. Thank you to all of our wonderful listeners. I want to give a shout out to all the other podcasters on the Sandstone Media group. We are not going out of the park and approaching big, big year for 2023. So with that, thank you.
