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Ambyint Inc. (fka PumpWELL) recently briefed my colleague David White and I on how their 10-year old company, traditionally focused on remote well monitoring and artificial lift optimization services to companies primarily located in Western Canada, has put all its chips in the middle of the table and is betting on leveraging the power of IIoT enabled solutions to deliver real cost savings and increased production to owner-operators, independent E&P players and related stakeholders operating in the oilfield.
ARC covered Ambyint (formerly PumpWELL) in its Artificial Lift Optimization global market study. But we are impressed with some of the developments since that time: Ambyint will now offer an IIoT enabled solution (available worldwide on first of September) with low cost sensors and WAN connectivity for deployment on pumpjack, ESP, PCP, and hydraulic lift systems for the extremely low price of $1000 and a monthly monitoring subscription fee of $50 per well. That is multiples lower than the next most competitive pump-off control offering since most of those competing solutions apparently are not IIoT enabled. Ambyint is able to offer this very competitive solution since it developed its own downhole monitoring and pump optimization algorithms using pattern recognition and machine learning engines developed in-house and based on its ten plus years of domain expertise developed by helping its customers optimize their oilfields throughout Canada and in parts of the United States.
Ambyint cited is its focus on collecting "insightful" data and not just "dark data" that is not actionable by the end user. One example the company highlighted was how a customer can save between $250 and $500 per visit per well being monitored as a result of not having to have a field tech visit a well or pump that is operating within desired parameters; depending on the numbers of wells pumps being monitored, the savings realized can be in the thousands of dollars per month.
There will be more interesting blogs in the coming weeks about these interesting IIoT developments from a tried and proven company operating in the oilfields of Alberta, Canada that has “seen the light” and is betting all of its chips on the future of IIoT. At ARC, we believe this is a smart bet and one that will payoff for Nav Dhunay, President and CEO, and his team at Ambyint.
ARC covered Ambyint (formerly PumpWELL) in its Artificial Lift Optimization global market study. But we are impressed with some of the developments since that time: Ambyint will now offer an IIoT enabled solution (available worldwide on first of September) with low cost sensors and WAN connectivity for deployment on pumpjack, ESP, PCP, and hydraulic lift systems for the extremely low price of $1000 and a monthly monitoring subscription fee of $50 per well. That is multiples lower than the next most competitive pump-off control offering since most of those competing solutions apparently are not IIoT enabled. Ambyint is able to offer this very competitive solution since it developed its own downhole monitoring and pump optimization algorithms using pattern recognition and machine learning engines developed in-house and based on its ten plus years of domain expertise developed by helping its customers optimize their oilfields throughout Canada and in parts of the United States.
Ambyint cited is its focus on collecting "insightful" data and not just "dark data" that is not actionable by the end user. One example the company highlighted was how a customer can save between $250 and $500 per visit per well being monitored as a result of not having to have a field tech visit a well or pump that is operating within desired parameters; depending on the numbers of wells pumps being monitored, the savings realized can be in the thousands of dollars per month.
There will be more interesting blogs in the coming weeks about these interesting IIoT developments from a tried and proven company operating in the oilfields of Alberta, Canada that has “seen the light” and is betting all of its chips on the future of IIoT. At ARC, we believe this is a smart bet and one that will payoff for Nav Dhunay, President and CEO, and his team at Ambyint.