Featured in Oil & Gas Investor Cover Story: OFS in Transition
01 Feb 2021
Much like The Beatles’ Paul McCartney sang in 1970, U.S. oilfield services (OFS) companies have “seen this road before,’” but the climb from the bottom of the 2020 version of the historic oil patch trough feels extra daunting—a road paved with uncertainty. The service industry was collateral damage of the unprecedented combination of excess supply and crippled demand that waylaid its client base at a time money was fleeing the industry and a global pandemic was settling in.
Ambyint is a digital-heavy, next-gen oilfield technology company that specializes in well optimization. It utilizes digital and advanced analytics to assist operators in maximizing well rates of return. The company is driving plug-and-play analysis of its software to tell when a well is underperforming, identify what changes will optimize well performance and provide change automation improving efficiency.
“There is nothing more efficient from a capital deployment perspective than getting incremental hydrocarbons out of a well you have already drilled,” said Ambyint CEO Blake McLean. “Where we sit in the value chain, at the wellhead, on the production side—that is an ideal place because, regardless of how many new wells are drilled or what the rig count or frac fleet utilization looks like, it will always be beneficial for operators to maximize the efficiency of wells they already have on production. Our ability to do that is proven in every major North American basin today. We like where we sit and are bullish over the next few years of constrained industry growth.”