Corva is one of the leading product companies in real-time data and analytics for Oil&Gas. We process 10TB+ every day for insight and intelligence. The world’s biggest companies rely on our platform to power their critical operations. The product is a platform with rich web UI for collecting, visualizing, analyzing and making sense of data from drilling rigs to help oilfield companies optimize their operations and ensure safety.
The company is focused on helping oil & gas companies to optimize drilling programs through real-time data insights and analytics. The company built a first-of-its-kind technology platform for delivering a suite of nearly 100+ mobile and web apps to monitor drilling and completions, identify hazardous conditions, and give users recommendations based on current and historical subsurface data. As a result, Corva increases drilling performance and speed while reducing costly rig downtime. Corva’s software products support oil & gas drilling operations across North America with hundreds of users, including drilling engineers, superintendents, rig crews, and management.
Corva launched a first-of-its-kind drilling optimization platform in 2017 that now offers drilling engineers and rig crews 100+ software apps. Corva’s platform harnesses real-time rig data and historical well information to drive a wide variety of data analytics that give drillers instant insight into rig conditions, increase rate of penetration, and anticipate hazards. The software startup experienced rapid adoption of its products in 2018.
17M feet have been drilled using Corva’s real-time drilling platform. In addition to supporting real-time operations centers (RTO) - back-office facilities that monitor multiple rig operations – Corva’s technology has been especially well embraced by rig crews. Onsite personnel, which includes company men and directional drilling contractors, leverage Corva’s suite of apps to make minute-to-minute decisions on the rig and improve operational efficiency. Customer results have been significant, including cutting directional drilling time, or sliding, by 1.08 days for a single well, reducing pipe connection time by 2 minutes, and preventing 9 washouts over a 2-month period.
“At Corva, we define success by the number of days we save on rigs, the costs we can quantifiably cut, and the number of catastrophic events we prevent,” said Ryan Dawson, founder and CEO of Corva. “Our technology has a profound impact across the rig where Corva is saving customers millions and cutting drilling projects by as many as 3 days,” Dawson said. He continued, “Corva has filled a void that has existed in drilling operations for years to bring big data and real-time analysis together to drill faster, lower-cost, and safer wells.” “Our current growth is just the beginning as the industry truly enters into the era of factory drilling,” Dawson concluded.
Corva began 2018 with its first client, one of the largest producers in the Permian Basin, who was instrumental in field testing the company’s real-time analytics platform. The Houston-based software startup experienced rapid adoption across the industry, winning contracts with 14 publicly traded oil & gas producers. In December, the number of onshore drilling rigs where Corva’s technology is deployed exceeded 200 rigs, a record-breaking milestone for the company.
How it looks like: https://www.youtube.com/watch?v=xpQf49770g4
What is going on:
Use cases: https://www.corva.ai/use-cases/