Why Invest in Oil and Gas?
Why is oil important? The United States consumed seven and a half billion barrels of oil and nearly thirty-one trillion cubic feet of natural gas in 2019.
These annual numbers equate to over two hundred thirty-six barrels of oil and nine hundred eighty-three thousand cubic feet of gas per second. Today, the importance of oil and gas in our country cannot be overstated. Thankfully, the oil and gas industry has not remained idle while technologies are being further developed for renewable energy.
New reservoir optimization techniques have enhanced petroleum production in both vertical and horizontal wells. Most notably, the increased implementation of technologies such as digitalization, cloud computing, and machine learning are transforming the petroleum industry… allowing for reduced costs, maximized operations and asset performance through real-time data analytics and optimized integration.