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The “Amazon Effect” Is Coming To Oil Markets
Posted by BFP Staff on Oct 11, 2017 at 09:58 AM
Cognitive software for horizontal drilling, an on-demand contractor network, and an AI-driven software platform for well plannig
By Irina Slav for Oilprice.com
While OPEC mulls over further steps to once again support falling oil prices, tech startups are quietly ushering in a new era in oil and gas: the era of the digital oil field.
Much talk has revolved around how software can completely transform the energy industry, but until recently, it was just talk. Now, things are beginning to change, and some observers, such as Cottonwood Venture Partners’ Mark P. Mills, believe we are on the verge of an oil industry transformation of proportions identical to the transformation that Amazon prompted in retail.
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