New Technologies In Oil & Gas Industry

What Are Variable Speed Drives

Variable speed drives are a piece of equipment that is used to control the speed of machinery. This equipment is used in many types of machinery such as HVAC systems and ac compressors. The VSD helps to save energy by controlling the speed of the motor drive in a piece of machinery. Other types of machinery that the variable speed drives are used to control are refrigeration compressors inside of centrifugal chillers and any type of flow pumping system. The VSD is not just very energy efficient but they reduce noise generation. The VSD also allows fans to operate at a much lower load, and they reduce wear and tear on a machine mechanical components.

The Positive Effects Of The Oil And Gas Industry On The United States Economy

There have been new technologies implemented in the oil and natural gas industry. These new technologies have allowed tremendous growth and production in the oil and gas sector throughout the United States. The growth that is occurring in the oil and natural gas sector, is called the Shale Revolution. In the past accessing reserves from areas with low permeability was difficult and expensive to extract from. With the combination of horizontal drilling and hydraulic fracturing, this has given companies who perform oil and natural gas exploration access to do so. This new technology has turned the United States economy around and allowed the country to recover from the 2008 financial crisis. The United States oil and natural gas industry has caused gas prices to be lowered, jobs to be created, and increased investment in the oil and natural gas industry.

What Are The New Technologies Being Utilized In The Oil And Gas Industry

There are many different new production technologies that are being implemented in the oil and natural gas industry. These technologies are decreasing the negative effects that oil and gas exploration have caused in the past to the environment. The two most significant production technologies that are making a huge impact on the oil and natural gas industry are deepwater drilling and tar sands.

What Is Deepwater Drilling

Deepwater drilling is causing offshore drilling to be reshaped when it comes to the global market. The reason why is because deepwater drilling has allowed shifting of oil production that was always done in the Middle East to now being done in the Atlantic Ocean. Since oil prices have been extremely high over the last decade oil exploration companies have come to the conclusion that deepwater drilling is economically viable. With the advancement of technology, oil and gas exploration companies have been able to drill deeper and further down into the ocean than ever before. If drilling is greater than 1000 ft. it is considered deepwater drilling. The two main technologies that are used for deepwater drilling are semi-submersible platforms and drillships. No matter which method that an oil and natural gas exploration company chooses to use they both require extremely high levels of expertise to be used effectively and are costly to use.

What Are Tar Sands

The combination of water, bitumen, sand, and clay are known as tar sands. Tar sands are also called oil sands. The reason why oil and gas companies mine and process tar sands is that they are trying to extract bitumen. Once the bitumen is extracted it will be refined and then turned into oil. Using tar sands to create oil is a very complex process. To create one barrel of oil it takes two tons of tar sands. Even though using tar sands is a complex process it keeps oil and gas companies in North America from having to go to the Middle East. The two most commonly used extraction methods for tar sands are mining and in-situ.