World view Featured

8:00pm EDT June 25, 2009
Finalist
Energy Technology

When Bill Schrom joined Geotrace Technologies Inc. in 2001 as president of the firm’s Europe, Africa and Middle East division, he brought with him 20 years of oil and gas industry experience and an idea.

Schrom wanted to develop ways to improve existing geophysical subsurface data analysis systems and change the industry. Two years later, his overseas success and his understanding of where the industry was headed led to his being named CEO of the corporate entity.

Geotrace had originally been founded in 1979 to offer two-dimensional seismic data processing services to domestic oil and gas customers. But as CEO, Schrom set out to expand the company’s oil field products and services. He envisioned much more sophisticated reservoir services that would allow clients to get a fuller picture of what their energy reservoirs held.

Schrom invested in new technology and recruited top talent. He pursued new geographical markets and developed a corporate culture aimed at balancing fun and hard work.

Continuing Schrom’s career-long goal to develop innovative ideas, Geotrace developed proprietary software, “Diamond,” which Schrom believes will reinvent the way subsurface data is analyzed. Through this and its other imaging services, Geotrace has become an industry leader.

Schrom is also committed to corporate responsibility, and the company has transitioned into a digital business, reducing its paper and chemical waste. Geotrace’s developing technology will help its clients be environmentally friendly by allowing oil and gas companies to re-examine current data, wells and oil fields rather than focusing on drilling in new land.

Under Schrom’s leadership, Geotrace has grown more than 30 percent in three years and today employs 285 people across offices in the U.S., Canada, Colombia, Venezuela, Brazil, the United Kingdom, Egypt and Norway.

How to reach: Geotrace Technologies Inc., (281) 497-8440 or www.geotrace.com