Reuters
Ernest Scheyder, Ron Bousso
July 30, 2018
LUFKIN, Texas/LONDON (Reuters) - In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP’s (BP.L) shale business turn a profit for the first time.
Thousands of automated wells feed data on their performance into the firm’s supercomputers each evening. If they show a need for maintenance, an Uber-style system summons a subcontracted repair firm to keep the shale wells flowing at optimal output and minimal cost.
Such technology has helped slash BP’s shale oil and natural gas production costs by 34 percent over five years. The shale business turned a profit for the first time in 2017, BP said, although the company declined to disclose the figure.
More...
https://www.reuters.com/article/us-oil-majors-shale/how-bp-found-shale-profits-with-crystal-ball-oilfield-technology-idUSKBN1KK0DH
