The basic formula for increasing oil well production is pretty clear to me: the more the pump runs, the more oil it pumps. The real issue is how to reduce downtime, so that it runs more, and pumps more.
What wasn't clear to me is why on earth about 100,000 pumpjacks in the US alone are not monitored—other than by someone driving all the way out to the well site every couple of days. With that method, a pump may have been down, or even worse leaking for a day or so before it’s noticed by anyone. That’s several hours of production time that can never be recovered.Read More