3 Oil & Gas Stocks to Keep an Eye On
Artificial intelligence (AI) and big data are rapidly transforming the energy sector not only by revolutionizing operations and enhancing efficiency but also by creating new opportunities for innovation and development.
Notably, exploration and production companies are leveraging AI algorithms for analyzing seismic data, optimizing drilling operations and predicting reservoir behavior. This reduces exploration risks while maximizing the recovery rate of hydrocarbons. Moreover, with the utilization of AI-powered drones and sensors across upstream operations, the identification of potential resource deposits is being done with greater accuracy and efficiency than traditional methods.
Considering the backdrop, investors should keep an eye on three energy stocks — Shell plc SHEL, BP plc BP and Chevron Corporation CVX — as these leading oil and gas companies are using AI and big data to enhance their operations, boost efficiency and make data-driven decisions.
All the stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Stocks Harnessing AI and Big Data
To reduce downtime and maintenance expenses, Shell is employing AI and big data analytics to predict equipment failures before they happen. In addition to preventing equipment breakdowns, predictive maintenance helps protect assets and enhance operational efficiency. Also, for analyzing seismic data, Shell is leveraging AI. This is accelerating the process of discovering oil and gas while reducing costs.
BP is using digital twins to generate virtual replicas of its production systems globally. This technology will enable the British energy giant to not only monitor but also optimize the performance of its oil rigs and refineries in real-time. Right from enhancing safety protocols to optimizing production processes, BP is employing data analytics for making data-driven decisions.
For driving efficiency, reducing costs and enhancing decision-making across its various operations, Chevron is at the forefront of incorporating AI and big data into its operations. For optimizing reservoir management processes, CVX is utilizing AI algorithms and advanced data analytics. To optimize drilling operations, the leading integrated energy company is also employing AI.
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BP p.l.c. (BP) : Free Stock Analysis Report
Chevron Corporation (CVX) : Free Stock Analysis Report
Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report
