Drilling spearheads the use of data analytics in the oil and gas industry, with close to 80% of digital startups in Lux’s coverage targeting drilling operations. The primary reason for drilling's strong impetus in analytics is its position upstream as a source of downhole data. Traditional logging techniques like measurement while drilling (MWD) and logging while drilling (LWD) form the cornerstones for well completion designs and future enhanced oil recovery (EOR) projects. Well logging tools, however, also account for 15% of total drilling costs, with certain offshore logging projects costing close to $500,000/well. In order to reduce logging costs, Shell, in collaboration with Equinor, invested in the startup Quantico Energy Solutions in 2015.
Contact us to learn the benefits of becoming a Lux member.
Or call us now
For North America (Boston Headquarters)
+1 (617) 502-5300
For EMEA (Amsterdam)
+31 20 280 7900
For APAC (Singapore)