Schlumberger Launches Electris: New Digital Electric Well Technologies to Boost Production, Cut Costs

Schlumberger Limited (NYSE:SLB) is one of the most active stocks to buy according to analysts. Earlier last month, in May, Schlumberger introduced Electris, which is a new portfolio of digitally enabled electric well completions technologies. These technologies are designed to enhance oil & gas production and recovery while simultaneously reducing the total cost of ownership for an asset.

The announcement was made at the Offshore Technology Conference in Houston, Texas. Electris completions digitalize control of the entire productive area of the wellbore and provide real-time production intelligence across the reservoir. The real-time data allows operators to anticipate, adjust, and react confidently to dynamic production conditions. It also enables access to reserves that conventional systems typically leave behind.

The Electris technology has already seen over 100 installations across 5 countries. As an example, in Norway, Electris completions were deployed offshore in an extended-reach well to boost oil production. The system’s intelligence helps the operator identify which zones are contributing to production, which optimizes oil output and minimizes produced water. By controlling water production, Electris completions have reduced the energy required to lift and reinject treated water back into the reservoir.

Schlumberger Limited (NYSE:SLB) provides technology for the energy industry worldwide. It has 4 divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.

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Disclosure: None. This article is originally published at Insider Monkey.