The technology used by Goldfield Oil and Gas LTD helps the company save costs during excavation activities by identifying the right spots to drill and leads to a greater return on investment.
(prHWY.com) August 29, 2012 - Las Vegas, NV -- There are major risks involved in the oil and gas extraction industry. Sometimes, drilling wells may result in a total failure due to a wrong estimation. Technology plays an extremely important role here. Using advanced technology to predict the presence of oil and gas will reduce the chances of flukes and companies will hit the right spots most of the time.
Goldfield Oil and Gas LTD is also using one of the best technological equipment to predict the availability of oil and gas in a particular area. Their success rate in drilling wells is 98.9% and they have never drilled any dry holes due to their risk-averse approach.
Seismic technology is the most commonly used sub-surface interrogation tool that gives a detailed insight on the geology of a certain area and allows companies to correctly predict the exact locations of oil and gas wells. The spokesperson said, "Our aim is to use the best method for accurate prediction of oil and gas presence. This will save time, energy and costs which we can utilize in improving our excavation activities."
Goldfield is trying to reduce costs by taking less risk and ensuring presence of oil and gas through hi-tech equipment. The new wide-angle towed streamer used by the company produces 3D images of the depth of the well and also estimates the quality and quantity of the resource that will be produced after excavation.
Today, the oil and gas industry cannot do without technology. Breakthroughs in technology have changed the way oil and gas resources are researched, developed and excavated. According to the company spokesman, "Goldfield Oil and Gas LTD uses the most hi-tech equipment to get the best results out of every effort. This makes almost all excavation activities successful and the firm can achieve a huge amount on profit on investment. To find out more about the company, visit their official website .
http://www.goldfieldoilandgas.com
About Goldfield Oil & Gas LTD
The company has been in business since 1937. It started off as a gold mining company seventy five years ago and today is one of the most reputed names in the oil industry. The company has a hands-on experience for a long period of time in an area called the Denver-Julesburg Basin (also known as the D-J Basin) in Colorado. You can contact them using the details given below.
Contact Details
Email:info@goldfieldoilandgas.com
Phone:855-406-4120
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