If there was one thing the last oil price crisis proved, it was this: despite the devastation that low oil prices can wreak on an industry, they can also make oil and gas production more efficient for less money. If there is one thing this crisis is proving, it is that oil and gas companies can do this remotely. In what could well be the industry’s next step towards digitalization, oilfield service providers have been moving more and more of their operations to remote offices—some are even moving some operations to the homes of their employees. And once again, they have been doing more with less, prompted by oil prices falling off a cliff this spring.

Home Oilfield

The Wall Street Journal’s Colin Eaton reported earlier this month that Baker Hughes and Schlumberger both had two-thirds of their drilling activity supported by remote work during the second quarter of the year. For Schlumberger, this was up 25 percent from the first quarter. For Baker Hughes, it was up 20 percent.

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Source: Oil Price