American Oil and Gas Reporter - March 2020 - 102

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IndustryFocus: Companies, People and Products
Ambyint Secures Funds To Broaden Oil Field AI
HOUSTON-Ambyint, a provider of artificial intelligence-powered production
and artificial lift optimization, reports it has
completed a $15 million Series B funding
round led by Cottonwood Venture Partners
with additional investment from Mercury
Fund and Ambyint's management team.
The company says the funds will help
it extend its suite of optimization solutions
across all wells and artificial lift systems,
and grow its Houston and Calgary offices.
"Improving margin on producing
wells is more important than ever,"
says Ryan Gurney, managing partner at
Cottonwood Venture Partners. "Ambyint has delivered significant financial benefits for its customers by
applying advanced physics and artifi-

cial intelligence, over and above traditional approaches to production optimization. We are excited to see it
expand further with solutions that span
the entire life cycle of the well."
Noting that its solutions have been
deployed by mid-sized and large operators such as Equinor and Husky, Ambyint reports they can deliver 10%-20%
margin improvements. The company
says its solutions optimize wells at scale
by automatically detecting production
and equipment anomalies, recommending controller set point changes, and providing production versus plan analytics
to enable real-time corrective decisions.
For
more
information,
visit
ambyint.com.
❒

New Remedial Treatment Boosts Wells' Production
BERWYN, PA.-A field study shows
that treating wells with TenEx Technologies' NanoClear® FD (formation damage)
remedial chemical can deliver long-lasting production increases, TenEx reports.
The company says the simple treatment
pays for itself in an average of six weeks.
The study took place over six months
during which 35 wells across multiple
basins were treated with NanoClear FD.
Treated wells produced 30,000 additional barrels of oil in the six months following the treatment, TenEx says,
adding that the average time for return
on investment was only 46 days.
The company describes the chemical
as an environmentally friendly, nontoxic
and easy-to-pump fluid that significantly

increases hydrocarbon recovery by removing organic formation damage and
altering wettability long term. The product's active nanoparticles act mechanically on the formation, and because of
their polarity, they persist in the well for
six months or more, TenEx reports.
"NanoClear FD offers operators an
affordable means of getting increased
value from their producing well inventories," summarizes Chief Executive
Officer Eric Foster. "For wells with
good production, a NanoClear FD treatment can result in significant recovery
improvement. For poor wells, it can extend a well's life."
For more information, visit
www.tenextechnologies.com.
❒

A 35-well field trial shows that TenEx Technologies' NanoClear® FD (formation damage)
treatment delivers sustained increases in oil production while reducing water cut and inhibiting organic buildup, TenEx says.

102 THE AMERICAN OIL & GAS REPORTER

Quorum Buys EnergyIQ
To Grow Software Suite
HOUSTON-Quorum Software has
acquired EnergyIQ, a provider of well
master data management software.
EnergyIQ's solutions increase producers' efficiency by providing valuable insights from integrated data, Quorum says.
The software-as-a-service platform has
proven to meet the complexity and scalability demands of midsized to large operators, the company assures.
"EnergyIQ enhances Quorum's value
proposition by providing a complete and reliable record for internal and external well
master data. By having a gold standard
record, operators can make better, faster decisions about their production activity, mitigate risk and improve overall production
operations," assesses Palash Misra, director
at strategy consultant Stax Inc.
Steve Cooper, EnergyIQ's chief executive officer and founder, says, "Our customers and partners will recognize the
benefits of tying together Quorum's leading applications through EnergyIQ's well
master data management solution to drive
workflow automation that increases efficiency and profitability."
For information, visit www.quorumsoftware.com or www.energyiq.info. r

Halliburton Tool Streams
Real-Time Well Test Data
HOUSTON-Halliburton Co. now offers the SPIDRlive™ self-powered, intelligent data retriever, an unconventional
well testing and fracture interaction monitoring technology it says acquires real-time
well data without the need for intervention.
SPIDRlive combines quartz-based
hardware with proprietary modeling to
capture high-resolution, high-accuracy
and high-frequency data from the wellhead without downhole equipment, Halliburton describes. In unconventional
wells, operators can acquire data to optimize fracture designs or perform an engineered flowback to improve performance.
With the technology's streaming capabilities, operators can monitor offset wells for
fracture interactions, the company adds.
"The retriever is a versatile tool with
applications throughout the well life
cycle to enhance reservoir understanding while reducing costs," says Daniel
Casale, Halliburton's vice president of
testing and subsea.
For more information, visit www.halliburton.com.
❒

http://www.ambyint.com https://www.quorumsoftware.com/ https://www.quorumsoftware.com/ http://www.energyiq.info http://www.tenextechnologies.com https://www.halliburton.com/en-US/default.html https://www.halliburton.com/en-US/default.html

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