How the $1 billion electric drill will change the oil and gas industry
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Recode is reporting that Exxon Mobil is developing an electric drill to drill oil and natural gas in the Arctic National Wildlife Refuge in Alaska.
The company is using a hybrid of an electric-powered drill and a traditional diesel-powered rig.
The drill is a version of Exxon’s long-standing drill, the Arctic Drill, which has been used to drill and transport oil and coal in the Beaufort Sea.
The current drill was built in 2008 and is a joint venture between Exxon and Shell, the world’s two largest oil companies.
The Arctic Drill was used to transport crude oil to refineries in Alaska for sale.
But with the introduction of a new generation of electric rigs and drillers, Exxon plans to use it to drill the Arctic for oil and to transport oil to markets in Europe, Africa, Asia and South America.
According to the report, Exxon is testing a hybrid drill that uses two diesel-power units and an electric motor, which makes the rig much smaller than the Arctic drill.
It’s also possible that the company is testing its version with a hybrid diesel and an oil-and-gas rig.
Exxon said in a statement that the hybrid drill is capable of drilling up to 500 feet deep, and it is designed to be “fully autonomous.”
The company said that it has developed an advanced prototype of the drill, which will be tested and marketed in the next few months.
According the report published Tuesday by Recode, the new drill is designed with “an integrated power plant that has been developed to be both a hydraulic, hydraulic and hydraulic electric power unit.”
That system has two independent electric motors and four independent electric generators.
The two generators are connected to a hydraulic unit that is capable at the moment of operation of lifting up to 5,000 pounds of pressure at a speed of up to 1,000 mph, according to the Recode report.
The electric generator is the power source of the hybrid rig.
In a previous version of the Arctic drilling rig, the hybrid diesel-electric hybrid diesel drill rig had a power source that is connected to an oil and water pump.
But the rig’s current model has no such pump.
The drilling rig is also being tested in the desert, according the report.
Exxon says that the drill will be capable of operating for up to 10 days and drilling up until about 500 feet below sea level.
The hybrid drill will allow Exxon to drill up to 30 miles offshore.
The news comes just a day after Exxon announced it had signed a $1.8 billion deal with the Chinese state-owned oil company Sinopec to develop an oil platform in the Persian Gulf.
The deal was announced on Monday.
Recode is reporting that Exxon Mobil is developing an electric drill to drill oil and natural gas in the Arctic…