Texas Alliance of Energy Producers & Digital Wildcatters Explore GumboNet: Video One — The Power of Smart Contracts

Posted by Data Gumbo Team
Feb 24, 2021 10:09:31 AM






Last fall Data Gumbo announced its partnership with the Texas Alliance of Energy Producers (TAEP), Texas’ largest association of independent energy producers. With oil and gas functioning now in a forever low-cost environment, operators are increasingly looking to technology to support financial clarity and to inform more profitable production decisions. 

As part of an ongoing educational initiative, Data Gumbo and TAEP sat down with the Houston-based oil and gas media company Digital Wildcatters to explore exactly what Data Gumbo is and how our blockchain network, GumboNet, can be leveraged to help operators gain transactional transparency, digitize manual paper processes, and decrease OPEX and CAPEX for sustainable results. 

“We’re using smart contracts to reduce slack in the system, reduce back office systems, to automate payments for water, chemicals, etc. to build commercial infrastructure,” said Andrew Bruce, Data Gumbo Founder and CEO.

Watch the first installment in the video series covering smart contracts, blockchain (and why our network has nothing to do with cryptocurrency!) and how a subscription to GumboNet delivers value within 45 to 90 days:

 


Stay tuned for more info on Andrew speaking at Evolve, a one-of-a-kind virtual event for oil & gas professionals hosted by Digital Wildcatters on March 10.