|By Marketwired .||
|May 7, 2014 07:00 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/07/14 -- Husky Energy (TSX:HSE) continued its focus on reliable business performance in the first quarter of 2014 as it delivered strong net earnings and cash flow.
"We are consistently hitting our marks as we monetize our extensive portfolio of high-return, long-life projects," said CEO Asim Ghosh. "The landmark Liwan Gas Project achieved first gas and will be a long-term production, earnings and cash flow contributor. In addition, we began production at the Sandall heavy oil thermal project and are building on our momentum by sanctioning another 3,500 bbls/day thermal project for startup in 2016."
Net earnings of $662 million increased 24 percent from $535 million in the first quarter of 2013. Cash flow from operations was $1.5 billion, an increase of 20 percent over $1.3 billion in the first quarter of 2013.
Upstream production averaged 326,000 barrels of oil equivalent per day (boe/day) compared to 321,000 boe/day in the first quarter of 2013 and 308,000 boe/day in the fourth quarter of 2013, reflecting additions from the Sandall heavy oil thermal development and the Ansell liquids-rich gas resource project.
-- Cash flow from operations was $1.5 billion, or $1.56 per share (diluted), compared to $1.3 billion, or $1.30 per share (diluted) in the first quarter of 2013. -- Net earnings were $662 million, or $0.66 per share (diluted), compared to $535 million, or $0.54 per share (diluted) in the first quarter of 2013. -- Total Upstream production averaged 326,000 boe/day, compared to 321,000 boe/day in the first quarter of 2013. Oil and liquids production was 74 percent, compared to 72 percent a year ago. -- Achieved first gas at the Liwan Gas Project. -- Initiated production at the 3,500 bbls/day Sandall heavy oil thermal project. Current heavy oil thermal production is now more than 45,000 bbls/day, in line with a target of 55,000 bbls/day by 2016. -- Sanctioned a new 3,500 bbls/day heavy oil thermal project at Edam West, with startup scheduled in 2016. -- Increased production at the Ansell liquids-rich gas resource play to approximately 17,000 boe/day. -- The Sunrise Energy Project is about 87 percent complete and progressing towards startup in the second half of 2014. -- Commenced gas injection at the South White Rose extension in the Atlantic Region, with first oil planned around the end of the year. FINANCIAL AND OPERATIONAL HIGHLIGHTS Three Months Ended Mar. 31 Dec. 31 Mar. 31 2014 2013 2013 1) Daily Production, before royalties Total Equivalent Production (mboe/day) 326 308 321 Crude Oil and NGLs (mbbls/day) 242 224 232 Natural Gas (mmcf/day) 506 504 537 2) Operating Netback ($/boe) (1) 44.81 34.29 31.78 3) Refinery and Upgrader Throughput (mbbls/day) 289 324 327 4) Cash Flow from Operations(2) (Cdn $ millions) 1,536 1,143 1,283 Per Common Share - Basic ($/share) 1.56 1.16 1.31 Per Common Share - Diluted ($/share) 1.56 1.16 1.30 5) Net Earnings (Cdn $ millions) 662 177 535 Per Common Share - Basic ($/share) 0.67 0.18 0.54 Per Common Share - Diluted ($/share) 0.66 0.18 0.54 6) Adjusted Net Earnings(2) (Cdn $ millions) 716 412 547 Per Common Share - Basic ($/share) 0.73 0.42 0.56 Per Common Share - Diluted ($/share) 0.73 0.42 0.56 7) Capital Investment, including acquisitions (Cdn $ millions) 1,269 1,537 1,152 8) Dividend Per Common Share ($/share) 0.30 0.30 0.30 (1) Operating netback includes results from Upstream Exploration and Production and excludes Upstream Infrastructure and Marketing. (2) Operating netback, cash flow from operations and adjusted net earnings are non-GAAP measures. Refer to the Q1 MD&A, Section 11, which is incorporated herein by reference.
First quarter production was 326,000 boe/day, compared to 321,000 boe/day in the first quarter of 2013. This reflected additions from the Company's heavy oil thermal projects and the Ansell liquids-rich gas resource project.
Overall production weighting in the first quarter was 74 percent oil and liquids compared to 72 percent in the same period in 2013.
WTI prices averaged US$98.68 per barrel in the first quarter compared to US$94.37 a year ago. Average realized pricing for the Company's crude oil, natural gas liquids and bitumen in the first quarter was $87.32 per barrel, compared to $68.32 in the first quarter of 2013.
U.S. refining Chicago market crack spreads averaged US$18.35 per barrel in the first quarter, compared to US$26.87 in the same period in 2013, while the realized U.S. refining margin averaged US$21.63 per barrel compared to US$20.47 a year ago.
KEY AREA SUMMARY
THE FOUNDATION BUSINESS
-- Heavy Oil
Production from Husky's heavy oil thermal projects was approximately 41,000 bbls/day during the first quarter.
The 3,500 bbls/day Sandall thermal development was brought online in early 2014. Production from seven wells is now averaging 4,500 bbls/day, reflecting the latest in a series of thermal projects that have produced higher than nameplate capacity in their early stages.
A 3,500 bbls/day thermal project has been sanctioned at Edam West, which is scheduled to be brought on production in 2016.
Work continues on advancing the 10,000 bbls/day Rush Lake thermal project towards first oil in the second half of 2015.
Module construction and site clearing has commenced for two new 10,000 bbls/day thermal developments at Edam East and Vawn, with first oil planned for 2016.
Twenty-three horizontal wells were drilled in the first quarter out of a planned 140-well program in 2014, while 73 Cold Heavy Oil Production with Sand (CHOPS) wells were drilled out of a planned 177-well program.
-- Western Canada
Production from the Company's Western Canada resource plays exceeded 30,000 boe/day during the first quarter.
Gas Resource Plays
A multi-rig drilling program at the Ansell liquids-rich gas resource play is delivering strong results, with average volumes of 17,000 boe/day from the multi-zone play. Eight horizontal wells were drilled and three horizontal wells were completed in the first quarter.
The four-well pad at Kaybob in the Duvernay play continues to produce as expected, and a new two-well pad came online in the first quarter.
Drilling has commenced in the Strachan Cardium play, with four liquids-rich horizontal gas wells drilled and four wells completed during the first quarter. Further development drilling is planned later in the year.
Oil Resource Plays
A total of 18 horizontal wells were drilled and 22 wells completed over the first quarter, with drilling activities primarily focused on the Viking, Oungre Bakken and North Cardium oil resource plays.
A four-well pad was placed on production at Wapiti Cardium, with results as expected.
The Company completed an expansion of its pipeline system from the Sandall heavy oil thermal development to the existing gathering system that leads to Hardisty, Alberta. Construction is underway on two 300,000-barrel tanks and additional piping interconnections at Hardisty to further expand storage capability starting in 2015.
Front-end engineering design for the crude flexibility project at the Lima Refinery is approximately 90 percent complete. The project includes equipment upgrades to allow for the processing of up to 40,000 barrels per day (bbls/day) of heavy crude feedstock starting in 2017, which will support the Company's growing heavy oil thermal business in Western Canada.
Work was advanced on a new recycle gas compressor at the partner-operated refinery in Toledo, Ohio, which is expected to improve operational integrity and plant performance when it comes online later in 2014.
Downstream throughputs were 289,000 barrels per day (bbls/day), compared to 327,000 bbls/day in the first quarter of 2013, which takes into account a planned turnaround at the Lima Refinery in the first quarter of 2014.
-- Asia Pacific Region
The first of three fields to be developed at the Liwan Gas Project achieved first gas on March 30. The Liwan 3-1 field and facilities are operating as expected. Gas sales began towards the end of April, with volumes already ramped up to about 175 million cubic feet per day (mmcf/day), plus approximately 7,000 boe/day of liquids (gross).
Short-term customer offtake delays, due to reduced demand from three new gas-fired power plants that are undergoing commissioning/operations startup, will result in some production volumes being deferred.
In Indonesia, the Company signed a Heads of Agreement for sales gas from the MDA and MBH fields in the Madura Strait. Construction continued on the shallow water platform infrastructure for the BD field, with a contract award for an FPSO (Floating Production, Storage and Offloading) vessel awaiting approval from the regulator.
Husky has signed a Production Sharing Contract on the Anugerah block in the East Java Basin offshore Indonesia and is planning to commence initial exploration activity later in 2014.
-- Oil Sands
The Sunrise Energy Project is approximately 87 percent complete and advancing as planned towards startup in the second half of 2014.
Twelve stratigraphic wells were drilled and an additional 38 square kilometres of 3-D seismic work was acquired in the first quarter to support additional development. Subject to approvals, the second phase of the Central Plant Facility will be developed in two 70,000 bbls/day stages (each with two 35,000 bbls/day plants), bringing total capacity to 200,000 bbls/day (100,000 bbls/day net to Husky.)
-- Atlantic Region
Husky is further extending the utilization of the SeaRose FPSO through near-field satellite developments in the Jeanne d'Arc Basin offshore Newfoundland and Labrador.
Drilling is set to resume on a Hibernia-formation well that will target a deeper zone beneath the main North Amethyst field, with first production planned later in 2014.
Gas injection commenced in the first quarter at the South White Rose extension in the White Rose field, with production equipment scheduled for installation in the third quarter and first oil anticipated around the end of the year.
Construction is continuing on a graving dock to support construction of a fixed wellhead platform at West White Rose. Subject to final approvals, first production is scheduled for the 2017 timeframe.
The Company and its partner have secured the West Hercules drilling rig to begin an exploration and appraisal program in the deepwater Flemish Pass Basin beginning the fall of 2014. A seismic program is set to commence in the second quarter of 2014 in the area of the Bay du Nord discovery. Husky holds a 35 percent working interest in the Bay du Nord, Harpoon and Mizzen discoveries in the Flemish Pass.
The Board of Directors has declared a quarterly dividend of $0.30 (Canadian) per share on its common shares for the three-month period ended March 31, 2014. The dividend will be payable on July 2, 2014 to shareholders of record at the close of business on June 5, 2014.
A regular quarterly dividend on the 4.45 percent Cumulative Redeemable Preferred Shares, Series 1 (the "Series 1 Preferred Shares") will be paid for the period April 1, 2014 to June 30, 2014. The dividend of $0.27813 per Series 1 Preferred Share will be payable on June 30, 2014 to holders of record at the close of business on June 5, 2014.
Following feedback from investors, the Board of Directors has decided to reinstitute a stock dividend program, which allows shareholders to accept dividends declared on the common shares in cash or in common shares.
Shareholders who would like to accept to receive their dividends in the form of common shares are instructed to inform Husky's transfer agent, Computershare, in prescribed form on or before May 28, 2014. A link to an electronic copy of the prescribed Stock Dividend Confirmation Notice is available at www.investorcentre.com/husky. Even if a shareholder has previously provided a Stock Dividend Confirmation Notice to Computershare, they must provide a new one to receive their dividends in the form of common shares.
A conference call will take place on Wednesday, May 7 at 8 a.m. Mountain Time (10 a.m. Eastern Time) to discuss Husky's first quarter results. To listen live, please call one of the following numbers:
Canada and U.S. Toll Free: 1-800-319-4610 Outside Canada and U.S.: 1-604-638-5340
CEO Asim Ghosh, COO Rob Peabody, CFO Alister Cowan and Downstream Senior VP Bob Baird will participate in the call. To listen to a recording of the call, available at 10 a.m. Mountain Time on May 7, please call one of the following numbers:
Canada and U.S. Toll Free: 1-800-319-6413 Outside Canada and U.S.: 1-604-638-9010 Passcode: 2658 followed by the # sign Duration: Available until June 8, 2014
Following the conference call, Husky will hold its Annual Meeting of Shareholders at 10:30 a.m. (Mountain Time) in the Palomino Room at the BMO Centre, Stampede Park in Calgary, Alberta. A live webcast of the meeting will be available at www.huskyenergy.com under Investor Relations.
The archived webcasts of the meeting and the conference call will be available for approximately 90 days.
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and is publicly traded on the Toronto Stock Exchange under the symbol HSE and HSE.PR.A. More information is available at www.huskyenergy.com
Certain statements in this news release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. The forward-looking statements contained in this news release are forward-looking and not historical facts.
Some of the forward-looking statements may be identified by statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "projection", "could", "aim", "vision", "goals", "objective", "target", "schedules" and "outlook"). In particular, forward-looking statements in this document include, but are not limited to, references to:
-- with respect to the business, operations and results of the Company generally: the Company's general strategic plans and growth strategies; and the Company's 2014 production guidance; -- with respect to the Company's Asia Pacific Region: expected long-term impact of the Liwan Gas Project on production earnings and cash flows; anticipated deferral of some production volumes resulting from short- term customer offtake delays; and anticipated timing of exploration activity on the Anugerah block in the East Java Basin offshore Indonesia; -- with respect to the Company's Atlantic Region: anticipated timing of installation of oil production equipment and of first production at the Company's South White Rose Extension project; scheduled timing of resumption of drilling and first production from the North Amethyst Hibernia formation well; anticipated timing for a drilling program in the Flemish Pass Basin and of a seismic program for the Bay du Nord discovery; and anticipated timing of production from the fixed wellhead platform at West White Rose; -- with respect to the Company's Oil Sands properties: scheduled timing of start up at the Company's Sunrise Energy Project; -- with respect to the Company's Heavy Oil properties: expected timing of first production and anticipated volumes of production at the Company's Rush Lake thermal project; expected timing of first production and anticipated volumes of production at the Company's Edam West, Edam East and Vawn thermal developments; target production and anticipated timing of achieving target production from the Company's heavy oil thermal developments; and the Company's horizontal and CHOPS drilling program for 2014; -- with respect to the Company's Western Canadian oil and gas resource plays: drilling plans at the Strachan Cardium liquids-rich natural gas play; -- with respect to the Company's Infrastructure and Marketing operating segment: anticipated benefits from and scheduled timing of expansions at the Hardisty terminal; and -- with respect to the Company's Downstream operating segment: the anticipated benefits from and scheduled timing of completion of the Lima, Ohio feedstock flexibility project and the anticipated processing capacity once reconfiguration is complete; and the anticipated benefits from and scheduled timing of completion of a new recycle gas compressor at the partner-operated Toledo Refinery.
Although the Company believes that the expectations reflected by the forward-looking statements presented in this news release are reasonable, the Company's forward-looking statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to the Company about itself and the businesses in which it operates. Information used in developing forward-looking statements has been acquired from various sources including third-party consultants, suppliers, regulators and other sources.
Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Husky.
The Company's Annual Information Form for the year ended December 31, 2013 and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com and the EDGAR website www.sec.gov) describe the risks, material assumptions and other factors that could influence actual results and are incorporated herein by reference.
Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable securities laws, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent upon other factors, and the Company's course of action would depend upon its assessment of the future considering all information then available.
Disclosure of Oil and Gas Information
The Company uses the terms barrels of oil equivalent ("boe"), which is calculated on an energy equivalence basis whereby one barrel of crude oil is equivalent to six thousand cubic feet of natural gas. Readers are cautioned that the term boe may be misleading, particularly if used in isolation. This measure is primarily applicable at the burner tip and does not represent value equivalence at the wellhead.
Manager, Investor Relations
Husky Energy Inc.
Manager, Media & Issues
Husky Energy Inc.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Jan. 25, 2015 01:00 PM EST Reads: 3,722
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
Jan. 25, 2015 12:00 PM EST Reads: 1,112
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
Jan. 25, 2015 11:00 AM EST Reads: 1,421
Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and expertise to guard against those threats. But will that be enough? In the foreseeable future attacks w...
Jan. 25, 2015 11:00 AM EST Reads: 2,826
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
Jan. 25, 2015 11:00 AM EST Reads: 2,764
SYS-CON Events announced today that ActiveState, the leading independent Cloud Foundry and Docker-based PaaS provider, has been named “Silver Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. ActiveState believes that enterprises gain a competitive advantage when they are able to quickly create, deploy and efficiently manage software solutions that immediately create business value, but they face many challenges that prevent them from doing so. The Company is uniquely positioned to help address these challenges thro...
Jan. 25, 2015 11:00 AM EST Reads: 1,724
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Jan. 25, 2015 10:45 AM EST Reads: 2,355
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
Jan. 25, 2015 10:45 AM EST Reads: 2,870
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Jan. 25, 2015 10:30 AM EST Reads: 2,212
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Jan. 25, 2015 10:00 AM EST Reads: 2,013
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
Jan. 25, 2015 10:00 AM EST Reads: 2,798
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
Jan. 25, 2015 10:00 AM EST Reads: 1,468
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 25, 2015 09:30 AM EST Reads: 2,068
Recurring revenue models are great for driving new business in every market sector, but they are complex and need to be effectively managed to maximize profits. How you handle the range of options for pricing, co-terming and proration will ultimately determine the fate of your bottom line. In his session at 15th Cloud Expo, Brendan O'Brien, Co-founder at Aria Systems, session examined: How time impacts recurring revenue How to effectively handle customer plan changes The range of pricing and packaging options to consider
Jan. 25, 2015 09:00 AM EST Reads: 2,380
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
Jan. 25, 2015 09:00 AM EST Reads: 2,362
Code Halos - aka "digital fingerprints" - are the key organizing principle to understand a) how dumb things become smart and b) how to monetize this dynamic. In his session at @ThingsExpo, Robert Brown, AVP, Center for the Future of Work at Cognizant Technology Solutions, outlined research, analysis and recommendations from his recently published book on this phenomena on the way leading edge organizations like GE and Disney are unlocking the Internet of Things opportunity and what steps your organization should be taking to position itself for the next platform of digital competition.
Jan. 25, 2015 02:00 AM EST Reads: 2,647
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
Jan. 25, 2015 01:45 AM EST Reads: 2,249
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Jan. 25, 2015 01:00 AM EST Reads: 2,454
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
Jan. 25, 2015 12:30 AM EST Reads: 3,377
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what the future may hold. Mike Kavis is Vice President & Principal Cloud Architect at Cloud Technology Pa...
Jan. 24, 2015 06:15 PM EST Reads: 3,735