Digital Tech Company Armed With Extensive Oilfield Expertise Forms Strategic Alliances With Telefónica Movistar and Diversified Well Logging (DWL)
Enovate – the only digital hybrid start-up founded by experienced oil and gas (O&G) executives and research leaders – began with a mission to overhaul the industry using its groundbreaking technology and methodology in data analytics and production forecasting. Since launching less than two years ago, Enovate has inked a series of strategic alliances with well-established but like-minded companies aimed at expediting the availability and adoption of its crowning achievement – the novel ADA A.I.™ platform – the first cloud-based platform that can be used for all upstream operations.
Through a recently announced partnership with Movistar Empresas, a major telecommunications brand owned by Telefónica, the ADA A.I.™ digital ecosystem can be deployed through a next-generation communications giant with a world-class infrastructure that gives O&G companies the ability to increase productivity, cut costs and decrease environmental impact utilizing the highest standards in cyber security, cloud technology and data management.
Further accelerating its quest to disrupt the O&G market, Enovate has also solidified a new partnership with Diversified Well Logging (DWL) – a highly respected O&G service company focusing on geological and drilling measurements – resulting in a new operational approach to reservoir characterization that combines cloud-based artificial intelligence (A.I.) with cutting-edge robotics technology.
Dubbed A.I. Surface Measurements While Drilling, the alliance gives customers the kind of real-time automation and remote operation capabilities that directly leads to reduced operational costs and improved workforce safety while enhancing data analysis and increasing operational efficiencies throughout the entire value chain. A project in the Gulf of Mexico documented the results: a 15% NPT reduction achieved with the downhole logging prediction using advanced Machine Learning and Geochemistry from cuttings obviating a trip to surface upon a logging tool failure.
A diverse team representing wide-ranging disciplines founded Enovate with the overarching mission to improve efficiency while increasing production and profits regardless of market conditions. The company’s Silicon Valley-style approach fosters a culture in which top global experts can work and grow in a collaborative environment that stimulates physics-based advancements – starting with its game-changing A.I. technology platform. Enovate has brought O&G industry experts and data scientists into a unique synergy through the ADA AI digital ecosystem, which has improved the EUR and production rates in Eagle Ford, Texas by 22% through physics-based machine learning production forecasting that optimizes simulation and completions.
Enovate CEO Camilo Mejía credits the company’s higher-than-average gender diversity ratio as a factor in its meteoric rise. "We are not just proud of a gender ratio that’s significantly higher in both the O&G and tech industries," said Mejía. He added, "Our ratio of one to three has played a key role in our success as a disruptive hybrid organization in a conventional industry."
The company’s ADA AI™ technology – which is revolutionary for its predictive nature – means tasks that used to require hands-on attention can now be performed from any location at every stage of the value chain – resulting in a welcomed evolution that increases profits regardless of market conditions while reducing carbon emissions.
Enovate is headquartered in Houston, Texas and operates offices in the UK and Colombia. For more information, please visit http://www.enovateupstream.com/. For media assets including images and bios, click here.
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Jason Cunningham / Mark Sullivan