2019 continued our upward trajectory of explosive customer growth and product innovation. Corva ended the year with our drilling analytics deployed on over 200 rigs across all major US and Canadian basins, triple the rig count over the previous year. We added 19 new engineering apps to Corva’s drilling cloud and made 839 feature enhancements. We are proud to have been a part of record-breaking wells this year including the longest extended-reach well in North America and the longest well in Canada.
At Corva, we have a vision for bringing digital transformation and cutting-edge data science to drilling as well as completions. That’s why in 2019 we launched a suite of 25 apps specifically targeting pain points and data analysis challenges across all phases of well completion, including wireline, frac operations, and drill-out. And Corva built on our real-time completion optimization technology with a strategic alliance with Drill2Frac, the industry’s first data science partnership offering customers an integrated solution for designing and implementing high-performance wells.
Corva moves into 2020 with the wind in our sails. We’re sustaining Corva’s tremendous momentum with the same commitment to customer success, measurable results, and relentless innovation. We’re also driving ahead with even bolder ideas and a laser focus on Corva’s vision for optimizing every well, lateral, and stage.
So, where exactly is Corva heading in the New Year? Here are some highlights:
- Tripling Our Investment — In 2019, Corva saved customers millions by boosting ROP, reducing NPT, extending equipment life, and avoiding hazards. With additional capital and a renewed focus on achieving and maintaining 100% data quality in 2020, we will further our mission of D&C performance and cost optimization by expanding the platform with 5 new products.
- Real-Time Completions – Corva is doubling-down on equipping operators with real-time analytics to complete more stages in a day, keep trucks pumping longer, and prevent frac hits. With the same attention to detail that made our drilling analytics an overwhelming success, you’ll see bold new strides in our completion apps as well as exciting new hardware innovation to deliver true real-time completions.
- Offshore and International – Corva’s drilling and completion analytics were born and battled-tested in the Permian Basin. Over the last two years, our technology and the resulting benefits have spread across major basins in the United States and Canada. The benefits of real-time operational oversight, D&C optimization, and hazard avoidance are already extending beyond North America and to offshore drilling projects.
As ever, Corva’s track record of success is truly powered by our customers, who continuously steer us in the right direction. And for Corva, powering customer success is equal parts innovation and our people. That’s why our Houston-based 24/7 operations center is helmed by those with the voice of experience, including drilling and completion engineers and petrotechnical data scientists. That partnership between the Corva team and each customer will continue to generate amazing results in the New Year and beyond.
Mar 19, 2024
