Technology has always played a role in the oil and gas industry. From initially helping track production at different wells to today’s use of data and business intelligence to know where to drill next, technology has always been a big part of successful oil and gas companies.
Understanding that history, it is no surprise that technology continues to drive the oil and gas industry forward. In recent years, the adoption of new technologies like IoT, artificial intelligence, and cloud storage has accelerated the growth of oil and gas companies. Taking advantage of these new advances can drive massive growth for organizations in this sector. This post will explore five technologies that are reshaping how oil and gas businesses thrive in a market more competitive than ever.
Five Technologies Changing the Oil and Gas Industry
At the moment, there are plenty of tech tools available for oil and gas company owners to choose from when it comes to optimizing their business performance. From artificial intelligence to data storage in the cloud, from Office 365 to Business Intelligence, the right technology is today’s competitive advantage for growing oil and gas companies. Implementing this technology in your oil and gas business can give you a leg up on the competition, but only if harnessed correctly.
Believe it or not, the technologies that are driving companies forward in the space are available to everyone. Whereas just a few short years ago artificial intelligence and advanced business intelligence tools were reserved for large oil and gas companies with massive budgets. Now, however, a wide range of tools are available for almost any use case and budget.
Data and Business Intelligence
Data and business intelligence are critical for oil and gas companies to make informed decisions about where to drill. By collecting data from various sources (IoT sensors, weather devices, etc.), oil and gas companies can get a clear picture of where the most promising drilling sites are. Additionally, business intelligence tools can help oil and gas companies track their progress and performance so that they can make necessary adjustments to their operations.
Data is also essential for understanding how a well is performing. By tracking data such as production levels, temperature, and pressure, oil and gas companies can identify any potential problems with a well and make necessary adjustments. In addition, data can be used to improve the design of new wells.
Internet of Things
IoT devices are also being used more and more in the oil and gas industry. IoT sensors can be used to monitor equipment, track production levels, and even detect leaks. By using IoT technology, oil and gas companies can make their operations more efficient and reduce the chance of accidents.
IoT sensors are also being used to track trucks, tanks, and other parts of the supply chain. By using IoT sensors, oil and gas companies can make sure that their supplies are always where they need to be. Additionally, IoT sensors can help identify any problems or issues with the supply chain, so that they can be addressed quickly.
The cost and management of IoT sensors can be as low as a few dollars per device. Even when tracking hundreds of trucks, wells, or other remote assets the price is not astronomic.
Artificial Intelligence
In recent years, the adoption of artificial intelligence has accelerated the growth of oil and gas companies. AI can be used to automate tasks and make better decisions. For example, by using machine learning, oil and gas companies can predict maintenance needs for their equipment. Additionally, artificial intelligence can be used to optimize drilling operations and improve safety. AI can be used to analyze data and find patterns that would otherwise be difficult to spot. This can help oil and gas companies make more informed decisions about where to drill next.
AI can be used for a number of tasks, such as analyzing data, making predictions, and automating tasks. For example, an oil and gas company could use AI to predict equipment failures before they happen. This would allow the company to take preventive measures so that the equipment doesn’t fail in the first place. Additionally, if a failure did occur, the company would know about it ahead of time and could take steps to minimize the impact.
The future of AI is exciting. With the continued development of AI, oil and gas companies will be able to automate even more tasks and make better decisions. For example, with the help of AI, oil and gas companies could soon be able to predict equipment failures before they happen.
Productivity Tools
Microsoft Office 365 is a productivity suite that allows users to work from anywhere. It includes a variety of applications, such as Word, Excel, PowerPoint, and Outlook. Additionally, Office 365 includes cloud storage so that users can easily access their files from any device.
Office 365 is a great place to start if you are looking to implement meaningful technology in your Texas oil and gas business. Axxys Technologies has long served companies in north Texas in their migration to Office 365. From setup and training to ongoing maintenance and support, Axxys Technologies can assist in your Office 365 transformation.
Office 365 is a great option for oil and gas companies because it allows employees to work from anywhere. In addition, Office 365 comes with a variety of applications that can be used for tasks such as word processing, spreadsheet creation, and creating presentations. This makes it easy for employees to get work done regardless of their location.
Office 365 can help oil and gas companies to improve communication and collaboration within their organization. By using tools like SharePoint, Teams, and OneDrive, oil and gas companies can create a central hub for all of their documents and data. Additionally, Office 365 can help oil and gas companies to better manage their calendar and appointments. This can help them to stay organized and efficient at the office.
Additionally, Office 365 provides a number of tools that can help oil and gas companies to improve their productivity. For example, tools like Excel and PowerPoint can be used to create presentations and spreadsheets that track production levels or drilling data. Additionally, Outlook can be used to manage email correspondence and schedule appointments.
By using Office 365, oil and gas companies can improve their communication, collaboration, and productivity. This can help them to operate more effectively and efficiently.
Data Storage and Redundancy in the Cloud
Cloud storage is becoming increasingly popular in the oil and gas industry. By storing data in the cloud, oil and gas companies can take advantage of the security and redundancy that the cloud offers. Additionally, by using cloud services like Azure, oil and gas companies can easily scale their storage to meet their needs.
Microsoft Azure is a cloud computing platform and infrastructure created by Microsoft. Azure offers a variety of services, including storage, computing, networking, and development tools. Additionally, Azure offers a number of features that are perfect for the oil and gas industry, such as security, redundancy, and scalability.
Azure is a particularly popular choice for oil and gas companies, as it offers a range of services that are perfect for the industry. Azure offers storage, compute, and backup services that are perfect for companies in the oil and gas sector. Additionally, Azure allows you to easily replicate your data across multiple regions so that you can keep your data safe even in the event of a disaster.
Another benefit of Azure is that it allows important company data and files to be accessed from different locations. Whether you have offices around all of north Texas or just a few drilling sites around Dallas county, Azure can centralize data and applications for the benefit of workers regardless of their physical location.
Additionally, Azure offers security features that are perfect for the oil and gas industry.
Optimizing Your Oil and Gas Business Through Technology
Oil and gas companies are quickly adopting new technologies in order to stay ahead of the competition and continue to grow. By using data and business intelligence, IoT devices, artificial intelligence, and productivity tools like Office 365, oil and gas companies are able to operate more effectively and efficiently. Additionally, these technologies can help oil and gas companies to improve communication and collaboration within their organization as well as increase their productivity.
If your Texas oil and gas company is looking to leverage technology for stability, security, and growth, contact Axxys Technologies. We help oil and gas companies in and around Texas get the most out of their technology investments. From protecting intellectual property and sensitive data to helping optimize efficiency through new productivity tools, the Axxys Technologies team can help. Contact us today to learn how technology can accelerate growth in your oil and gas business.
