Three Priorities for Energy Leaders: Innovation, Collaboration, and Speed

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The future of energy is being shaped by fast-moving forces, and keeping pace requires leadership that prioritizes fresh thinking, unlikely partnerships, and swift action. 

From deep expertise in oil and gas to emerging technologies like artificial intelligence and geothermal energy, recent industry events have made it clear that industry leaders need to pay attention to three core areas to remain competitive.

We’re talking about the 2024 Society of Petroleum Engineers Annual Technical Conference and Exhibition (ATCE) in New Orleans and Energy Disruptors in Calgary. While the two events were explicitly different in their focuses, both highlighted critical themes that energy leaders must prioritize moving forward: innovation, collaboration, and speed.

ATCE, steeped in tradition and technological discussions, focused heavily on the technical challenges and opportunities facing the oil and gas sector. Meanwhile, Energy Disruptors, known for its forward-looking and disruptive mindset, encouraged attendees to think beyond conventional energy solutions, exploring how renewables, AI, and unconventional partnerships can drive the future. 

Despite their differences, the message from both events was clear: the time for incremental thinking is over. Energy leaders must innovate, collaborate across sectors, and move faster than ever before to stay relevant.

As we look at the energy sector today, it’s clear that leaders are navigating a complex landscape that requires new approaches and mindsets. 

Here are three key takeaways that every energy executive should act on today.

1. Innovation must go beyond the usual

Jeff Miller , President and CEO of Halliburton , offered a candid reflection on innovation during his keynote at ATCE, reminding the audience that “innovation always starts with a spark,” small ideas that can be easily overlooked. 

The worst thing that can happen is that spark gets squelched, Miller cautioned. His comment speaks directly to a common issue in large organizations—an inability to move quickly on new ideas because of entrenched processes.

For decades, the energy industry has excelled at incremental innovation, but as Meg O'Neill , CEO of Woodside Energy , highlighted, the challenges of the future—rising demand, carbon management, and the need for diversification—require a broader approach. O'Neill pointed to the importance of digital twins and AI-powered systems in making operations more efficient, emphasizing that the digital transformation of the sector is not just an option, but a necessity, noting that innovation needs to be embedded in the DNA of how we do business.

Peter Tertzakian , while speaking at Energy Disruptors, underscored that technological breakthroughs alone are insufficient without systems-level thinking. Today’s innovation needs to be just as much about rethinking entire systems—integrating renewables, managing data at scale, and modernizing infrastructure—as it is about improving existing technologies.

The takeaway is clear: leaders must create environments where fresh ideas are nurtured, and where innovation is seen as more than just tweaking existing solutions. Executives should be asking themselves: What barriers exist in my organization that might be stifling new ideas? How can I encourage a broader, more ambitious approach to solving problems?

2. Collaboration—especially across unlikely alliances—is essential

One of the most compelling messages from both ATCE and Energy Disruptors was the necessity of partnerships, especially across industries that don’t typically work together. Tertzakian emphasized the role of “unlikely collaborations” in accelerating the energy transition, and it’s clear that this will be crucial moving forward.

For instance, the geothermal sector is increasingly looking to partner with oil and gas companies to scale up. John Redfern , CEO of Eavor Technologies Inc. , pointed out that existing infrastructure and expertise in oil and gas could significantly reduce the barriers to geothermal deployment. This kind of collaboration is essential to bring new technologies like geothermal into the mainstream, where they can help stabilize the grid and provide baseload renewable power.

Similarly, at ATCE, Tracy Sletto , CEO of the Canada Energy Regulator | Régie de l’énergie du Canada , spoke about the importance of partnerships in large infrastructure projects. “How we’re including indigenous peoples in our regulatory oversight is changing,” she said. With that progress, and a shift in how decisions are made, there is an opportunity to get ahead on complex issues, challenges, and projects. 

These insights push us to think beyond traditional industry boundaries. Leaders should ask: Who are the partners we haven’t yet considered? How can we structure partnerships that share both risk and reward?

3. Speed is the new competitive edge

Both events made it clear that the energy industry cannot afford to move at its traditional pace anymore. As Tertzakian reminded us, while transitions like electrification once took decades, the pace of change today is much faster. Companies that fail to act quickly on new technologies, partnerships, and strategies risk being left behind.

Alexander Helling , CEO of Baseload Capital , shared insights into geothermal energy which exemplified urgency. Despite its enormous potential, Helling warned that geothermal must scale rapidly to meet growing global energy demands. 

The industry cannot wait for perfect solutions; it must act now to capitalize on innovation and deployment.

O’Neill echoed this sentiment at ATCE, stressing that while today’s energy demands are pressing, leaders must simultaneously plan for the future. Investing in technologies like carbon capture and storage is necessary for immediate improvements, but companies must also look ahead to the next wave of solutions. “How do we decarbonize an existing LNG plant while it's still an operational LNG plant?” O’Niell and her team are working with technology partners to implement cutting edge technology to decarbonize to meet their emission reduction targets. 

During ATCE, Computer Modelling Group (CMG) announced a new product that will help energy companies make decisions more quickly when investing in carbon capture and storage. Focus CCS supports users of all experience levels to simulate and validate CO2 storage sites in minutes instead of days. The tool enables engineers to quickly and accurately evaluate risks, predict safe CO2 storage capacities, and expedite the process leading up to permitting and regulatory approval.

For leaders, this calls for a shift in mindset: speed is not just an operational advantage, but a competitive necessity. How can organizations reduce the time it takes to move from idea to implementation? What are the bottlenecks that need to be addressed today?

The message for executives is clear: the industry is moving fast, and there is no time for hesitation. From optimizing AI in energy operations to scaling geothermal as a baseload power source, the time to act is now.

As the global energy conversation continues, leaders who embrace innovation, build strong partnerships, and take bold, decisive action will shape the future of the industry. The energy landscape is shifting, and those who adapt quickly and strategically will be well-positioned to drive success and resilience in this new era of energy transition.

ACCELERATE covers innovation to advance a new energy system. Click subscribe above to be notified of new articles, interviews, and energy industry insight.