Patrick Reames

Founder, Commodity Technology Advisory

“Mr. Reames possess a deep understanding of the energy and commodities markets, developed through hands-on experience and managerial oversight of energy and commodity operations, including exploration, production, gathering, plant and pipeline operations. Additionally, he has 5 years of energy commodity trading, transportation, and risk management experience with Hess Corp. (formally known as Amerada Hess), a Fortune 100 integrated energy marketing company.

Over the last fifteen years, he has been focused primarily on information technology serving energy and commodity trading, marketing, and risk management. Prior to founding Commodity Technology Advisory, he led the CommodityPoint division of UtiliPoint International, providing expert CTRM market analysis and advisory services to dozens of clients in North America, Europe and the Asia/Pacific region.

Prior to joining UtiliPoint International in 2005, he held senior executive positions with several technology companies (including TransEnergy Management, Altra Energy, and TradeWell Systems) servicing the energy and commodity markets.

An acknowledged expert in market analysis and advisory, he is a frequent speaker at industry conferences and events, has published numerous articles in industry publications and is an often quoted expert in news stories. He is the co-author (with Dr Gary Vasey) of the books “Selecting and Implementing Energy Trading, Transaction and Risk Management Software – A Primer” and “Trends in Energy Trading, Transaction and Risk Management Software – Second Edition”.

Mr. Reames holds a B.S. in Business Administration – Finance from Oklahoma State University.”

Discussion

Blockchain: Where and how will it be best used in oil and gas?

Blockchain and its associated technologies have garnered headlines and massive investments from the private sector, including numerous energy companies, and public sources such as state and federal governments. While the concepts engendered in blockchain (or more precisely distributed ledger technologies) are certainly appealing – inherent trust & transactional clarity among all parties, and the ability to deploy smart contracts – there are a number of obstacles along the road to adoption. What are the emerging use cases that could most dramatically change the ways in which the business of energy is conducted, from exploration & production to transportation, trading, and retail sales? Where are the near-term opportunities? What are the obstacles?