New Technology to Increase Efficiency

Among the latest technologies to increase efficiency to offset low oil prices is rocket fuel. Royal Dutch Shell, Whitting Petroleum Corp. and other operating companies are using "rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less." Service provider, Baker Hughes says many customers are inquiring about products to improve efficiency in existing wells. One technology developed for geothermal wells, electromagnetic sensors to track fluid movements is now being applied to shale plays.