The goal of this presentation is to discuss the critical issues involved in developing an effective technology strategy for optimizing reservoirs. I’d like to focus more on unconventionals (shale gas, shale oil, tight gas, etc) because they really rely on new technologies in order to obtain commercial levels of oil and gas production. The reservoirs tend to have low permeability / low porosity and thus have been unproducible historically speaking. However, with the advent of new techniques of horizontal drilling and multi-staged hydraulic fracturing, with tight cluster patterns, along with infill drilling, stacked pays, pad drilling, it is possible to produce often almost astonishing volumes considering these are onshore, and previously unproducible zones. However, there are always challenges. The first is the fact that the new technologies are new – which means that someone gets to be a guinea pig. The early-adopters are going to benefit from the possibility of dominating the market or the technology-space. However, the price is high, and they may not be able to maintain their position as soon as high costs start to kick in. As the technology turns into a truly disruptive phenomenon, the innovators can win. However, they need to have a strategy in order to do so – otherwise, others will benefit from the expensive “lessons learned” and often painful victories. Similarly, those who purchase their entry into new technologies (and new plays), may find there are pitfalls if they do not have a good technology strategy in place. They may pay too much, acquire the wrong type of technology, or worse – they may obtain technology and a leasehold position that are not ideal, and ultimately cannot achieve goals.