Ambyint CEO Alex Robart Featured in the JDA Replay with Barclays
26 Feb 2020
In a recent edition of the JDA Replay, CEO Alex Robart discussed how Ambyint leverages AI to improve production in the field. In today’s world of structured lower commodity prices and dramatic reductions and access to capital, companies in the oil and gas industry are being forced to rethink their business model and some of the key underlying operating assumptions. Data provided by Ambyint shows that less than 20% of onshore wells are optimized today, creating a big opportunity for E&Ps, OFS companies, and Digital Innovators. Alex believes that Ambyint’s unique ability to combine physics-based modeling, subject matter expertise, and AI, will help our customers increase their production rates and decrease workover & maintenance costs.
Some key takeaways from the presentation include:
- Nearly 10 – 20% of wells are down at any given time, which translates to 10 – 20 % unrealized margin gains in production.
- Ambyint’s large acquisition of production artificial lift data since 2004 has been a big competitive advantage
- AI enables optimization at scale
- Using a combination of uplift and opex reduction will greaten the impact of digitalization on various lift types.
- Return of investment from Ambyint products are typically within 3 months
- Change management remains the biggest hurdle to adoption.