We’ve begun seeing interest in cryptocurrency from producers and service providers in the oil and gas field. It just makes sense.
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Austin, TX (PRWEB) April 17, 2014
Oilfield Intel, the newest provider of production, drilling permit, lease ownership, and pipeline information for the oil and gas industry, announced Friday that they would be accepting the cryptocurrency via the American-based Bitcoin exchange, Coinbase (https://www.coinbase.com).
Bitcoin is an alternative currency that is based on an algorithmic proof-of-work done by computer processes. It was presented in 2009 in a publically available white-paper by an anonymous author under the pseudonym Satoshi Nakamoto. According to a report by CNNMoney on November 29th in 2013, Bitcoin went from being worth $13 in January to nearly matching the price of an ounce of gold by November.
“We’re all geeks here,” says Bradley Smith, Vice President of Operations at Oilfield Intel. “We were all interested in Bitcoin on our own, it just seemed like a no-brainer,” he explained. “We’ve begun seeing interest in cryptocurrency from producers and service providers in the oil and gas field. It just makes sense for us to provide this service to groups that already have resources in Bitcoin.”
Oilfield Intel provides a variety of data subscriptions on oil and gas production, as well as analytical products derived from this data. They are focused on North American production in particular. To find more information, visit oilfield-intel.com, or give them a call at (888)-680-6437.