Smartphone Apps
Companies are developing smartphone apps that will provide real- time data to oil companies, service companies, drilling companies, and pipelines. These apps will provide communication services, key decision point data, and smooth the flow of operations across the exploration and production life cycle.
Big Data
Super computers collect vast amounts of data. Today, U.S. oil companies, refineries, and transportation companies are beginning to use these super computers to analyze and extrapolate the data to find new efficiencies and cost savings. Exploration and production company Pioneer Natural Resources (PXD) uses the super computer at Oak Ridge National Laboratory to find new ways to increase efficiencies and lower costs across its business. Smart Dust Kristofer Pister – a professor of electrical engineering and computer science at University of California, Berkeley – theorized in 1997 that millions of tiny sensors could be scattered over the Earth to create a real-time network of information. The initial applications are focused on environmental monitoring and leak detection. These sensors could detect light, temperature, vibration, magnetism, and chemicals. This web-based “smart dust” could also be incorporated into drilling and completions, refineries, pipelines, and other applications to provide constant real-time updates to computer networks and artificial intelligence. Cutting-Edge Technology Is the Future of Oil $500 As oil begins its march to $500 per barrel, we will want to look for U.S. companies that use cutting-edge technologies.
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