For Immediate Release
Sourcewater, the water exchange for the energy ecosystem, announced that its founding chief executive Joshua Adler will be a featured speaker at the Produced Water Society Annual Seminar at the Omni Westside Hotel in Houston, Texas, January 26-28, 2016. This year’s meeting will focus on reducing the cost of oil and gas operations through best practices, new technology and strategic processes. Sourcewater’s online marketplace for produced water disposal, recycling and transport is fast becoming the industry standard best practice for minimizing the single largest operating cost of energy production–water management.
As energy prices continue to fall, cost-minimizing and utilization-maximizing solutions such as Sourcewater are essential to the survival of every business in the oil and gas industry. As energy companies contract, it is no longer cost effective or feasible to duplicate redundant water infrastructure for every company in a region. Sourcewater enables energy companies to share their infrastructure, avoiding wasteful spending and take-or-pay contract losses. The online marketplace also makes possible enormous increases in the time and cost efficiency of water management procurement practices, much in the way that online travel marketplaces allow a traveler to find the optimal deal on a plane ticket in minutes, rather than having to make hours of phone calls to accomplish the same task. This allows overworked energy industry workers to focus on higher value functions in a time of restructuring.
Adler is schedule to speak at 9am Central Time on Thursday, January 8 regarding best practices for water management in shale developments.
“Our goal is to reduce the cost of water management for oil and gas producers, while increasing the utilization of operator infrastructure and service capacity” says Adler. “Every day, available trucking and disposal capacity goes to waste, like an unsold plane seat or hotel room. We use the Internet to create a more efficient marketplace that allows operators to pay lower prices in less time while service companies sell more of their capacity. Sourcewater thereby reduces the overall cost of water management. It’s a win-win for the industry in a difficult time.”
About Sourcewater:
Sourcewater, a spinout from MIT’s Energy Ventures program, is the water exchange for the energy ecosystem. It is the first online exchange for sourcing, transporting, recycling and disposing of water for oil and gas production, a $50 billion U.S. market. Our marketplace enables energy companies to minimize their single largest operating cost, water management, ensure a reliable mission-critical water supply chain, and reduce the environmental and community impacts of energy production. Sourcewater launched in 2015 and has already registered over 150 companies as users. Over 1 billion barrels of water are now available for purchase or recycling on Sourcewater.com.
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About Joshua Adler:
Joshua Adler is a serial entrepreneur, veteran dealmaker and world-class communicator who has founded energy, real estate, medical technology and Internet companies. He also served as chief speechwriter for two United States Treasury Secretaries. He is a graduate of Yale University and the Massachusetts Institute of Technology, where he was a Sloan Fellow for Innovation and Global Leadership in Energy Ventures. His writing has appeared in The New York Times, The Wall Street Journal, The Washington Post, and The Economist. In December 2015, Adler argued in The New York Times for the repeal of the U.S. energy export ban, writing: “For as long as the world uses hydrocarbons, it is plainly in the United States’ economic, geopolitical and environmental interest to produce that energy here, with American workers and oversight.”
Press Contact
Josh Adler, CEO
info@sourcewater.com
713-909-4664