EOR projects aren’t the only place that solar is being used on the oil field. Halliburton Company (NYSE:HAL) is using solar panels on its new SandCastle Vertical Storage System for proppants. The system, which is part of its “Frac of the Future” initiative has a two-fold purpose. First, it’s reducing its carbon footprint by eliminating the need for diesel to power the engine, and second, by going vertical it’s reducing the physical footprint on the well-pad.
Final Foolish thoughts
Energy companies are really making a concerted effort to use green technologies to develop oil and gas fields. Not only is this saving producers money, but it’s enabling them to sell instead of burn their production, which is helping to boost margins. I guess it goes to show that Kermit the Frog was wrong, it actually can be easy to be green.
The article How Solar Power is Saving Middle East Oil originally appeared on Fool.com and is written by Matt DiLallo.
Fool contributor Matt DiLallo owns shares of Linn Energy, LLC. Matt DiLallo has the following options: short October 2013 $25 puts on Linn Energy, LLC. The Motley Fool recommends Chevron and Halliburton.
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