Did you know that humans have been drilling oil for thousands of years? Why, as far bas as 327, Chinese engineers used pipelines made of bamboo to drill 240 meters below the surface to extract the earliest drops of oil! Now, across the globe, humans consume about 1,000 barrels of oil every second. The United States alone consumes 378 million gallons every day, which is equivalent to 9 million barrels of oil per day. This amount of oil consumption make oil services companies an important part of our daily lives, though we don’t even know it.
These oil services companies are responsible for efficiently drilling oil wells, which is a general term for any boring through the Earth’s surface that’s designed to find and acquire petroleum oil hydrocarbons. Thusly, oil services companies allow us to collect the oil that not only fuels our vehicles, factorial machinery, our economy and, in general, our lives.
Although, oil is directly responsible for a solid 2.5% of the world Gross Domestic Product, it accounts for one third of humanity’s primary energy supply. According to the Department of Energy, Oil producers supply 40% of U.S. energy needs and fossil fuels, which include coal, oil and natural gas, make up over 85% of the energy consumed in the U.S. as of 2008.
In addition to drilling the wells, oil services companies also offer other services as well. According to Investopedia, oil services companies also provide seismic testing services, transport services and directional services. Seismic testing involves mapping the geological structure beneath the surface. Transport services refers to the actually moving of the equipment, and directional services refers to the direction of the drill. Believe it or not, some oil wells are not drilled straight down, and there oil service companies that specialize in drilling angled or horizontal holes.
Oil is an important part of our lives, and the oil services companies that drill play an even almost equally large part in our lives, unbeknownst to us. If you have any questions about oil services companies, feel free to ask in the comments! See this reference for more.