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Drilling Robots Battle Low Oil Prices

Drilling Robots Battle Low Oil Prices

Low oil prices are driving operators toward innovations from robotic drilling to advanced seismic imaging, as they restructure and streamline operations to cut down non-productive time (NPT) and shave costs, according to Lux Research. “Contingency costs arising from NPT typically account for about 10 percent to 15 percent of total … Read more »

Oil, Gas Exploration Technology Investment Tops $7bn

Oil, Gas Exploration Technology Investment Tops $7bn

New technologies to enhance exploration and production of oil and gas have attracted $7 billion in funding since 2003, specifically in the areas of shale gas, tight oil, and heavy oil, according to a report by Lux Research. Investment peaked in 2011 at $1.6 billion, while deals hit a high … Read more »