Oil field innovation
A Regina-based entrepreneur turns to Navigator-listed experts for solutions to oil industry challenges
Read about how Rand Oil Ltd.’s CEO Larry Hesterman uses the Navigator as a key resource for finding the right research partners in the development of his business.
Throughout his career in engineering, Larry Hesterman has travelled across the globe — from working for private oil and gas companies in Western Canada to running industrial manufacturing plants throughout the U.S. and Japan.
After several years of experience working in the public and private sectors, in 2006 the engineer-turned-entrepreneur headed back to his home province and founded the Saskatchewan-based oil production company Rand Oil Ltd.
While Hesterman knew there would be challenges of striking out on his own, he also knew the long-term success of his company would require collaboration with strategic partners at different stages.
One of Hesterman’s current projects, for example, includes adapting a heater that prevents wax build up on oil wells — technology developed by one of Rand Oil Ltd.’s international partners — to Canada’s cold weather conditions. Another is exploring the profitability of extracting lithium, commonly used for medications and batteries, from the wastewater produced during oil extraction. To advance these projects, he is working with research partners.
“We’re always looking to make oil production methods more efficient and research is required to do that,” he says. “The oil and gas industry is one that has used probably more research and development than many other industries. We’ve had to do it to stay economically viable and to eliminate environmental contamination.”
Before using the Navigator, Hesterman says, he had to go digging for partners himself, short list the potential candidates and contact each facility directly to determine if it was the right fit.
Hesterman says he’s benefitted from using the Navigator since most businesses do not have the resources or desire to go digging for potential research partners themselves.
“The Navigator has been a very useful tool for sourcing research labs as it has saved significant time and frustration,” says Hesterman.
Are you looking for research support to move your business forward? Contact an expert through the Research Facilities Navigator today.