Question

How does this drilling innovation benefit oil companies?

Answer 1

How does this drilling innovation benefit oil companies? Oil companies increase oil prices to fund new drilling technologies. Oil companies do not have to reposition drill equipment on the surface. Oil companies can extract water, natural gas, and oil all from the same drill site.

Answer 2

It benefits companies by letting geologists find out where oil would likely be by studying surface rock formations, magnetic fields and even slight variations in gravity. One of the most important innovations in oil exploration was 3-D seismic imaging. The companies end up making tones of money off the research that they find