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Big Oil's Rejection of Silicon Valley Is Finally Coming to End [Bloomberg Business News]

FBR & CO COMMON (FBRC)  More Company Research Source: Bloomberg Business News
Last fbr & co common earnings: 5/2 08:00 am Check Earnings Report
US:NASDAQ Investor Relations: fbr.gov.pk
PDF The nodding donkey was invented nearly a century ago, and it’s still hard at work in the oil patch, virtually unchanged, pumping oil out of the ground. There’s been a recent innovation, though: Algorithms adjust the extraction flow based on computer monitoring hundreds of feet below. Finally. “Onshore North America used to be a market where state-of-the-art technology went to be humiliated,” said Tom Curran, an energy analyst at FBR Capital Markets & Co. “You’ve had a clear shift occur where onshore North America for the first time in recent history has become a technology play.” The worst crude-market crash in a generation propelled energy companies into the digital world. They had already pretty much tested their physical limits with brute strength, ramping up injections of sand to tease more oil out of subterranean pockets and drilling wells longer and longer. Now they’re using DNA sequencing to track crude molecules and mapping buried streams with imaging software. Robots a [Read more]

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