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3 Large Cap Energy Stocks Gaining From Automated Drilling
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In the era of automation, energy investors are closely watching companies that deploy automated drilling technologies. These advanced systems, which require minimal human intervention, reduce downtime and labor costs, thereby boosting productivity and reliability.
By harnessing real-time data analytics and AI, automated drilling optimizes drilling parameters, enhancing precision and speeding up project timelines. Moreover, it lowers operational emissions and supports environmental compliance, aligning with sustainability objectives.
As a result, these technological advancements not only lead to substantial cost savings and risk mitigation but also provide a competitive advantage in a fluctuating market. Consequently, energy investors should keep an eye on major companies such as BP plc (BP - Free Report) , Exxon Mobil Corporation (XOM - Free Report) and SLB (SLB - Free Report) , all of which are integrating automated drilling technologies. Each of these stocks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Large Energy Stocks in Spotlight
BP's Leadership in Digital and Automated Drilling
Azeri Central East (ACE) in Azerbaijan is BP’s most technologically advanced platform, equipped with cutting-edge, fully automated drilling rigs. This innovation allows BP to automate labor-intensive processes, leading to safer and more efficient operations while reducing operational emissions.
By investing in such advanced technology on the ACE platform, BP underscores its commitment to both the present energy system and the future of energy. The automation of the ACE platform sets a new industry standard, potentially driving long-term operational efficiencies and cost savings, further strengthening BP’s competitive edge.
ExxonMobil has been at the forefront of implementing autonomous drilling technology in deep water, particularly in its Guyana operations. Their proprietary drilling advisory system leverages AI to determine the optimal drilling parameters and enables closed-loop automation, allowing the drilling process to proceed without the need for human intervention. This technology greatly enhances safety, efficiency and cost-effectiveness by optimizing the rate of penetration and minimizing technical challenges.
SLB's Milestone in Fully Autonomous Drilling
SLB has reached a major milestone by autonomously drilling 99% of a 2.6-kilometer well section at Equinor's Peregrino C platform in Brazil. Utilizing SLB's digital solutions for surface automation and directional drilling, along with AI-driven technologies, the operation achieved a 60% increase in the rate of penetration. This advancement has resulted in reduced costs and lower carbon emissions.
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3 Large Cap Energy Stocks Gaining From Automated Drilling
In the era of automation, energy investors are closely watching companies that deploy automated drilling technologies. These advanced systems, which require minimal human intervention, reduce downtime and labor costs, thereby boosting productivity and reliability.
By harnessing real-time data analytics and AI, automated drilling optimizes drilling parameters, enhancing precision and speeding up project timelines. Moreover, it lowers operational emissions and supports environmental compliance, aligning with sustainability objectives.
As a result, these technological advancements not only lead to substantial cost savings and risk mitigation but also provide a competitive advantage in a fluctuating market. Consequently, energy investors should keep an eye on major companies such as BP plc (BP - Free Report) , Exxon Mobil Corporation (XOM - Free Report) and SLB (SLB - Free Report) , all of which are integrating automated drilling technologies. Each of these stocks currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Large Energy Stocks in Spotlight
BP's Leadership in Digital and Automated Drilling
Azeri Central East (ACE) in Azerbaijan is BP’s most technologically advanced platform, equipped with cutting-edge, fully automated drilling rigs. This innovation allows BP to automate labor-intensive processes, leading to safer and more efficient operations while reducing operational emissions.
By investing in such advanced technology on the ACE platform, BP underscores its commitment to both the present energy system and the future of energy. The automation of the ACE platform sets a new industry standard, potentially driving long-term operational efficiencies and cost savings, further strengthening BP’s competitive edge.
ExxonMobil's Pioneering Autonomous Drilling Technology
ExxonMobil has been at the forefront of implementing autonomous drilling technology in deep water, particularly in its Guyana operations. Their proprietary drilling advisory system leverages AI to determine the optimal drilling parameters and enables closed-loop automation, allowing the drilling process to proceed without the need for human intervention. This technology greatly enhances safety, efficiency and cost-effectiveness by optimizing the rate of penetration and minimizing technical challenges.
SLB's Milestone in Fully Autonomous Drilling
SLB has reached a major milestone by autonomously drilling 99% of a 2.6-kilometer well section at Equinor's Peregrino C platform in Brazil. Utilizing SLB's digital solutions for surface automation and directional drilling, along with AI-driven technologies, the operation achieved a 60% increase in the rate of penetration. This advancement has resulted in reduced costs and lower carbon emissions.