The approach leverages sound waves to give operators eyes inside their wellbores.
As production on unconventional wells declines, oil and gas operators are looking to revitalize assets through refracturing techniques rather than drill new wells.
Ambyint, the leader in AI-powered production and artificial lift optimization, revealed on Feb. 4 a $15 million Series B funding round led by Cottonwood Venture Partners with additional investment from Mercury Fund and Ambyint’s management team.
The contracts represent the latest in a growing number of SmartPAD installations with major operators across North American fields over the past 12 months.
A recent contract for Evolution Well Services to supply electric fracking services comes as shale drillers are increasingly setting higher environmental targets.