Posted by & filed under Innovation.

The oil producing equipment is not going extinct like the traditional grain elevator, but just as technology changed how agriculture companies built their terminals, innovation is altering the number, size and placement of pumpjacks.

For much of the last century, oil wells were similar to drilling a water well — they were vertical. That changed in the mid-2000s when companies discovered how to turn the drill bit and produce directional wells.

Technology continues to improve and as a result, oil wells are getting longer and longer. The average oil well drilled is now about three kilometres in length.

Source: CBC News

Date: December 18th, 2019

Link: https://www.cbc.ca/news/business/oilpatch-pumpjack-drilling-abandonment-1.5375836

Discussion

  1. The article is really all about innovation, this time in the mining industry. Is the technology talked about in this article Information Technology (IT)?
  2. How might information systems and information technology perform a key role in improving drilling efficiency?

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