Oilfield Rush to High-Tech Helps Smaller Companies Thrive
- Computers, digital signals, algorithms redefine drilling
- Old guard snapping up next-gen firms with patents in hand
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A wave of next-generation upstarts is hitting America’s oil patch, offering high-tech solutions aimed at an industry in flux following the worst crude-market crash in a generation.
At a time when the five biggest oilfield servicers -- still smarting from the price rout -- have cut almost $1 billion from their research budgets, companies such as Ambyint Inc. are stepping into the breach. Ambyint uses iPhone-sized computers, digital signals and complex algorithms to control the flow of oil from older wells, boosting output and avoiding downtime.