Rockwell Automation and Schlumberger have closed their previously-announced joint venture (JV), Sensia, the oil and gas industry’s first digitally enabled, integrated automation solutions provider on Oct. 2.
The joint venture leverages Schlumberger’s deep oil and gas domain knowledge and Rockwell Automation’s rich automation and information expertise to address this fast-growing market.
“Sensia will make industrial-scale digitalization and seamless automation available to every oil and gas company so their assets can operate more productively and profitably,” Allan Rentcome, CEO of Sensia, said. “It will make oil and gas production, transportation and processing simpler, safer, and more secure.”
Headquartered in Houston, Texas, Sensia is projected to generate initial annual revenue of $400 million and employ approximately 1,000 employees.
Sensia will operate as an independent entity, with Rockwell Automation owning 53% and Schlumberger owning 47% of the joint venture. Rockwell Automation made a $250 million cash payment to Schlumberger at closing.
Today’s featured Forty Under 40 honoree is Alexandria Lay, who has been involved in transactions totaling more than $7 billion since joining Steptoe & Johnson in 2012.
Today’s featured Forty Under 40 honoree is Blake London, who leads Credit Suisse’s energy equity capital markets division and was most recently involved in Brigham Minerals’ IPO.
Today’s featured Forty Under 40 honoree is Brent Kelsall, one of the initial employees at FourPoint Energy who helped set the Denver-based company’s financial course.