Infrastructure Networks Inc. and Machfu have entered into a strategic partnership on June 25 to help oil and gas companies improve the performance of their existing assets by easily connecting them to new cloud solutions.
INET will sell, supply and service Machfu solutions, delivered over INET’s wireless platform. Machfu will utilize INET’s LTE coverage to connect to oil and gas assets real-time in key energy producing areas.
Under the partnership, INET will distribute the MACHGateway and the MACH-IO solutions to the oil field, where assets collect data, but may not have the ability to send that data real-time or store it. The MACH-IO provides standards-based wireless data collection for IoT sensors in the oil field, and works with the MACHGateway, which provides secure connection to industrial controllers, process automation and other equipment in the oil field. Together, the two products simplify connecting and managing sensors and controllers, and provide a secure connection to transmit data real-time to oil and gas companies.
“The significance of data collection, storage and real-time transmission is that these solutions help oil and gas companies improve business processes with immediately realized value and reduce operational risk within a secure environment,” Prakash Chakravarthi, CEO of Machfu, said.
Together, INET and Machfu plan to simplify the collection, storage and use of data, especially from equipment that speak legacy protocols and shows companies the potential of real-time, analytics, control of assets and eventual automation of the oil field.
Chaparral Energy, an operator in Oklahoma’s Stack Play, said it has regained full compliance with NYSE listing standards after the average closing price of its shares fell below the $1 per share requirement.
The agreement between Tallgrass and a group led by Blackstone Infrastructure Partners is part of a trend of take-private offers for public energy companies that emerged this year.
WPX plans to implement a dividend in conjunction with the Felix acquisition, targeting about $0.10 per share on an annualized basis at initiation.