According to industry data provider Kimberlite International Oilfield Research, over the past five years, US shale oil basin contractors have successfully reduced the time required for drilling by about two days by one day and the average of 11 days for fracturing by three days. To do this, they used a wide range of new technology and techniques, including drilling a 3-mile long horizontal well. Currently, monitoring oil wells rather than remote drilling is still the most common application scenario for AI technology, but the application of the latter will definitely catch up. AI technology is expected to bring greater breakthroughs to the US shale oil industry. Evercore ISI analyst James West (James West) said that the improvement in efficiency of AI technology should bring lower costs to shale oil companies. It is expected that many related companies will start advertising their savings from AI in the next few fiscal quarters. “This cost savings will be significant, at least double digits, and in some cases may even save 25% to 50% of costs.” He claimed. (First Finance)