September 2020
Company Spotlight
Ambyint
For this Company Spotlight, we interviewed Ambyint Chief Executive Officer, Blake McLean, and Chief Commercial Officer, Chris Robart, about how Ambyint is helping E&P operators proactively optimize production across their entire organization rather than reacting to production problems as they arise. Ambyint delivers step-change improvements to E&P production outcomes and margins by combining advanced physics and subject matter expertise with artificial intelligence to automate operations and production optimization workflows across all well types and artificial lift systems. For more information on Ambyint, please visit www.ambyint.com.
Background: In 2004, Pumpwell Solutions was founded in Calgary by mathematicians that created a physics-based algorithm to optimize production from wells utilizing rod lift. At that time, the programmable logic controllers (PLCs) used in rod lift operations did not have the necessary computing power to handle their algorithm. Therefore, Pumpwell’s offering required an edge computing device (hardware installed in the field) that positioned it as a premium offering to customers. Nonetheless, Pumpwell’s solution was implemented on over 1,000 wells in Canada. In 2012, with artificial intelligence and machine learning becoming more prevalent, Pumpwell began to research and develop a more cost-effective and software-focused solution to optimize production, which led to the rebranding of the company to Ambyint in 2016. Today, Ambyint offers its optimization platform through both a hardware/software solution as well as a software-only offering across all well types and artificial lift systems.
Value Proposition: Over the last decade, the majority of technological advancements and efficiency gains achieved have been focused on drilling and completion activities. Now, E&P operators are starting to turn the attention to the production side of the equation. Currently, E&P operators’ activities classified under “production optimization” are typically related to reacting to problem wells and trying to fix each problem as quickly as possible. Ambyint’s solutions accomplish these activities, but go further by finding the optimal running state of wells and automating runtime settings updates. Ultimately, Ambyint provides E&P operators the following:
Better Production Outcomes: The foundation of Ambyint’s solution is its algorithm’s ability to better fit the physics of horizontal wells versus the “old math” that was developed over 30 years ago for vertical wells. This allows the company’s customers to obtain a much better understanding of what is happening downhole, which results in improved well performance and increased production.
Lower Operating Costs: A comprehensive understanding of the physics of their horizontal wells enables Ambyint’s customers to increase well stability, minimize unnecessary maintenance and repair costs from failures, and lower electricity expenses. Further, the platform enables its customers to manage more wells per employee.
Increased Visibility Leads to Better Planning: By eliminating manual data gathering and reporting, managers are able to have a more accurate and up to date picture of what is going on with their production portfolio. This increased visibility leads to the ability to prioritize which wells could be improved before they fail.
Closing Thoughts: In an environment where management teams are being asked to do more with less, technologies like Ambyint’s, that not only automate workflows but also improve efficacy, are critical to a company’s success in this industry environment. Having recently expanding its offering beyond rod lift to gas lift, plunger lift, and naturally flowing wells, we are excited to see how the Ambyint team will continue to assist with the “too many wells, too little time” problem that is affecting the industry.