Oil Show Features Industry-Changing Technology

Day 2 of the Permian Basin International Oil Show was another success. Just like computers and cell phones continue to change as technology grows more advance, so does the oil industry. Big 2 spoke with a number of vendors that are there showcasing some products that could potentially change the industry.

"We play a loosing game.We have to change the game to stay in the game," says Jay Reynolds, Chief Technology Officer for Louisiana-based oil company Angel Petroleum.

And that's exactly what a lot of the companies at the oil show have done, including Reynolds, who recently invented a product to replace the pump jack. "I'm a small oil producer in a stripper well market and my work costs were absolutely eating me alive and was forced to invent a new way to produce oil."

Reynolds designed a thermoplastic tubing system, which he says can help save producers drilling a shallow well, time and money. "One well process, one guy, takes 20 minutes to completely equip a well from scratch."

While Reynold's product is more hands-on, other companies we spoke with were presenting the exact opposite.

Onshore energy production giant Key Energy is featuring a number of different products at the show. But one in particular is the first-ever of it's kind.

"This is our newest line of business. This is our smart tong rod connection service," says Craig Owen, Key Energy. "This takes the human element out of it to where it's an automated process. "

Before this, a rod connection couldn't be made without the help of an actual person. But Key Energy has added a new element. "We've got a computer that's tied to the rod tong itself. It's equipped with an encoder and a load cell and through automated computer-based process, it makes the rod connection for us."

Another company at the show was featuring a product they invented and, like Key Energy's tong rod connection service, takes human labor out of the equation. The product was produced by Pennsyvania-based rig manufacturer and supplier, Schramm Inc., and involves an actual rig.

"This has what we call our load safe pipe handliner, which takes the pipes away from the people they don't have to touch them anymore it's all automated," says Matt Starkweather, Schramm Inc.

In turn, it saves the production company time, money and energy. But even more importantly, it could save someone's life. Starkweather says, "By having the pipe handling automated, it's a lot safer. "