The use of real-time analytics and data-sharing has been a growing part of the energy sector for the past few years, with technology playing an even larger role in the day-to-day drilling activities of many exploration companies.
The U.S. Department of Interior released its long-awaited federal rules on fracking March 20, which included revamped security and disclosure measures on public land.
In North Carolina, the state legislature finally hashed out an agreement on fracking regulations and passed a bill through both chambers of the assembly, with the law going into effect March 17, according to The Associated Press.
Global oil prices have largely bottomed out in recent weeks, no longer drastically free falling week to week, but still holding steady around the $50 per barrel mark.
Drilling companies have long struggled with the ability to adequately move their products from one location to another.
The drop in oil prices may have reduced rig counts and taken a knife to high profits, but it also created a new work environment among oil and gas companies with greater focus on sustainability and efficiency.
While downstream oil companies haven’t felt the immediate burden of low oil prices, their upstream counterparts are having a harder time dealing with the lack of profitability.