Oilfield real estate comes at a premium. The fear that our natural resources may be running out seems like a daily topic of discussion, so producers are searching the ends of the earth to discover additional resources. They are using the best oilfield equipment to test areas and find the best places to drill and extract oil efficiently.
While it is easier to drill and extract oil on land, many companies understand that the untapped reserves underneath the ocean. Accessing these resources safely takes skill, patience, proper tools and best practices, but it can also yield extremely positive results.
In an article in online publication InvestorPlace, contributor Aaron Levitt suggests that underwater production can be quite valuable, but it can also be quite risky.
"At first blush, a deal involving undersea trees and valves sounds boring. Maybe it is," Levitt writes. "But these systems are needed to link wells and pull crude oil up to the surface for use. Production equipment used for subsea operations is placed directly on the sea floor and must be developed to handle strong ocean currents, harsh temperatures and deepwater pressures."
The results of these dangers have come to the forefront in recent years. The BP oil spill in the Gulf of Mexico is one example of how dangerous off-shore drilling can be. That's why companies must work with oilfield technology providers to acquire the best solutions for their operations.
Tools that promote efficiency, safety and proper technique are certainly required if producers are going to be more successful in their underwater ventures. However, such projects have the potential to yield a major return on investment.