Checking the vital statistics of an oil well calmly pumping away in the middle of a dusty nowhere is a time-consuming, tedious, expensive—and completely necessary—job. High-end wells can produce hundreds of gallons of oil per day, and failing equipment could result in significant bottom-line damage if the flaws aren’t promptly detected.To fulfill the oil companies’ desire to keep an efficient eye on the daily lives of their equipment, Luna iMonitoring (www.lunaimonitoring.com) is developing technology intended to let customers remotely track critical measurements, such as pressure, tank levels and natural gas flows. The iMonitoring systems combine multiple components—including a solar cell, battery pack, computer processor, data radio and sensors—into compact, relatively low-cost packages that can be quickly and easily attached to pump equipment. These packages then transmit via a proprietary radio protocol to a concentration and communications unit that uploads the data via satellite to the oil company’s waiting computers for analysis.The goal, says CEO Kenneth Ferris, is to “drive down the cost factor” of such monitoring equipment by a factor of four or five, allowing pump operators to make an economically feasible argument for putting the gear on less productive wells. Typical solutions available today tend to cost between $10,000 and $15,000, Ferris says. The iMonitoring tools currently being beta tested will cost in the $3,000 range, with a second generation available in two years that would cost about half that.Ferris sees the technology moving beyond the energy industry. He notes that, if available cheaply enough, the tools could appeal to the wastewater and agriculture industries, as well as for general industrial automation. For instance, Luna has developed a vibration sensor that can detect when bearings in pumps, compressors or turbines start to fail. Luna iMonitoring is still in the R&D stage, according to Ferris. But he expects products to ship in the fourth quarter of this year. Related content feature 10 most popular IT certifications for 2023 Certifications are a great way to show employers you have the right IT skills and specializations for the job. These 10 certs are the ones IT pros are most likely to pursue, according to data from Dice. By Sarah K. White May 26, 2023 8 mins Certifications Careers interview Stepping up to the challenge of a global conglomerate CIO role Dr. Amrut Urkude became CIO of Reliance Polyester after his company was acquired by Reliance Industries. He discusses challenges IT leaders face while transitioning from a small company to a large multinational enterprise, and how to overcome them. By Yashvendra Singh May 26, 2023 7 mins Digital Transformation Careers brandpost With the new financial year looming, now is a good time to review your Microsoft 365 licenses By Veronica Lew May 25, 2023 5 mins Lenovo news Alteryx works in generative AI for speedy analytics results OpenAI integration and AI wizardry for report generation are aimed at making Alteryx’s analytics products more accessible. By Jon Gold May 25, 2023 3 mins Analytics Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe