Oilfield equipment innovations present new opportunities and challenges

New technologies are improving oilfield operations

The election is only 12 days away, and regardless of who is elected, there are major changes coming to the oilfield production industry. The second debate illustrated a number of plans each candidate has for the sector because both have recognized the new opportunities presenting themselves on domestic oil fields. As a result, companies must now invest in proper oilfield equipment to meet any new demands.

Since around the turn of the century, advancements in oil and gas extraction technologies have created a boom in a number of sources, including shale and natural gas liquids. In an article for The Nation, contributor Fareed Zakaria says that new solutions have allowed oilfield producers to extract from areas that they had previously been unable to tap.

"Much of this opportunity comes from America's newfound ability to draw oil and gas from geological formations that just a few years ago geologists deemed impenetrable," Zakaria writes. "The consequences of this breakthrough, both economic and geopolitical, are difficult to assess, but they range from a manufacturing renaissance in the US to a decline of the geopolitical clout of Russia and the Middle East. Both would obviously be welcome news."

For the nation to capitalize on any new opportunities, oilfield producers will have to ensure they can continue to extract oil efficiently to meet any new demands and combat potential challenges. Companies will have to continue to find innovative solutions to dig deeper and ensure that they are extracting as much oil as possible as quickly as they can.

Artificial lift solutions can help speed up the process, but producers that truly want to ensure they can meet all demands should contact an oilfield technologies provider. These professionals can help companies acquire the right solutions to fit their needs.