NEWS AND UPDATES

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US Oil Industry Collapse Will Negatively Impact US Economic Recovery

America will overcome the virus and will go back to work (you can pick the date). However, the US economy will not experience the rapid “rebound” that so many politicians and analysts talk about. The collapse of the US oil industry will result in the number of drilling rigs working in the US to decline from approximately 780 drilling rigs in January, 2020 to most probably under 300 drilling rigs in December. The number of hydraulic fracturing spreads operating in the US will decline from approximately 450 in January, 2020 to most probably less than 50 in December. Layoffs will approach 100,000. Each person losing their job in the oil & gas industry is equivalent to losing 2.0 to 2.5 jobs in

Microsoft is the Leading Cloud Provider for the Oil & Gas Industry

A recent study published by Kimberlite Oilfield Research with 319 geologist and geophysicists worldwide reveals that Microsoft remains the leading cloud provider serving the G&G community of the oil & gas industry. Google and Amazon, however, are gaining ground. 34% of the respondents interviewed report using Microsoft/Azure as their cloud provider followed by 26% of respondents citing use of Google as their cloud provider (up from 14% in the 2018 report) and 26% using Amazon (up from 3% in 2018). IBM’s growth and penetration in the market is lower than that observed with both Amazon and Google. While Microsoft got off to an early start with the G&G community, it is clear that Google and Ama

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