NEWS

Oilfield Rush to High-Tech Helps Smaller Companies Thrive

A wave of next-generation upstarts is hitting America’s oil patch, offering high-tech solutions aimed at an industry in flux following the worst crude-market crash in a generation.

At a time when the five biggest oilfield servicers -- still smarting from the price rout -- have cut almost $1 billion from their research budgets, companies such as Ambyint Inc. are stepping into the breach. Ambyint uses iPhone-sized computers, digital signals and complex algorithms to control the flow of oil from older wells, boosting output and avoiding downtime.

https://www.bloomberg.com/news/articles/2017-07-26/oilfield-rush-to-high-tech-opens-doors-for-small-firms-to-thrive

By:
July 26, 2016