Progress, Challenges Seen in Implementing Digital Oilfield Technology
The oil and gas industry’s progress in implementing digital oilfield technology into their operations can be summed up in a quote by science fiction writer William Gibson – “The future is already here, it’s just not evenly distributed.”
Some players in the oil and gas industry have successfully “crossed the chasm” in implementing digital oilfield technology, but others still lag behind, Jim Crompton, an exploration and production industry veteran who now works with Noah Consulting, told attendees at the Society of Petroleum Engineers’ (SPE) Digital Energy Conference & Exhibition near Houston earlier this week.
Crompton contrasted the companies represented at the SPE event – who are true believers in digital oilfield technology – with companies in attendance at a recent small producers’ digital energy conference. Eighty percent of the operators in this market segment still operate on paper. The next big technology that these companies seek to implement is a tablet-based system for operator and lease information. These companies – whose assets include between 100 and 1,000 stripper wells and 400 barrels per day (bpd) to 2,000 bpd of oil production.
“It makes you realize how complex and diverse this industry is,” Crompton noted.
While other companies are awash in digital data, others still see SCADA as the next wave of technology.
Development of digital oilfield technology has been underway for the past 15 years, but it’s only been in the past few years that industry has started to trust and successfully use this technology.
Successfully implementing a digital oilfield program is not which company has bought the latest, coolest gadgets, or has the most data, it’s what they do with their technology and information, Compton noted. The idea behind the digital oilfield is about transforming the way the oil and gas industry does business.
1234
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Report Confirms Near Billion Barrel Oil Find
- Gulf of Mexico Disturbance Gathers Strength
- Biden Freeze on Oil and Gas Leases Reinstated
- High-Impact Drilling To Rebound In 2022 After Miserable 2021
- Open Interest In Crude Oil Futures And Options In Decline
- Scottish First Minister to Convene Urgent Energy Summit
- Oilfield Services Sector Hitting ESG Goals On Its Way To Net-Zero
- Flotilla of Diesel Ships Heads to Europe
- Enauta Restarts Atlanta Production After Scheduled Shutdown
- Decaying Oil Tanker Project Still Needs Millions of Dollars
- Report Confirms Near Billion Barrel Oil Find
- The Gulf of Mexico Has a Pirate Problem
- Gulf of Mexico Disturbance Gathers Strength
- Gulf of Mexico Hurricane Season Looming Large
- Gazprom-Iran $40Bn Deal Faces Issues Over Corrosion And Sanctions
- Inflation Reduction Act Could Result In More Energy Service Inflation
- Energy Sec Sees USA Gasoline Prices Dropping Further
- US Shale Operators Not Capitalizing On High Crude Prices
- Top Headlines: 88 Energy Makes Billion Barrel Oil Announcement and More
- Saudi Aramco Betting Big On Carbon Storage
- 88 Energy Makes 1 Billion Barrel Oil Announcement
- Over A Quarter Of Turbines Installed On Formosa 2 Wind Farm
- Report Confirms Near Billion Barrel Oil Find
- The Gulf of Mexico Has a Pirate Problem
- Saudis to Hike Oil Price to Record
- Gulf of Mexico Disturbance Gathers Strength
- Pantheon Hits Multiple Oil Reservoirs At Second Alkaid Well
- Gulf of Mexico Hurricane Season Looming Large
- Analyst Gives Year-End Oil Price Warning
- Guyana Just Keeps On Giving As Exxon Makes Two More Discoveries