Detechtion Technologies and Enbase Combine to Power the Digital Oilfield Through Leading Industrial IoT, Mobile, and Analytics Solutions
• Shared vision to address industry challenges
• Fully integrate companies to accelerate innovation and deliver superior solutions
• Enbase co-founder Virgil Haney to join Detechtion Board of Directors
Houston, Texas – (October 17, 2016) – Detechtion Technologies, the world leader in compression fleet optimization and a portfolio company of Element Partners, announces that it has completed a majority investment in Enbase LLC, a world leader in field automation, mobile applications and predictive analytics for the oil and gas industry. This merger creates a company that will deliver an Industrial IoT platform to remotely monitor, control and optimize processes and equipment across the oil field. The companies will fully integrate and operate under the Detechtion name.
Shared Vision to Address Industry Challenges
The oil & gas industry is faced with increasing production and lowering operating costs, all while addressing increasing regulatory requirements. These challenges have created tremendous pressure on the entire oil and gas supply chain. Detechtion and Enbase addressed these challenges separately, each with their unique product approaches.
Founded in 2009, Enbase addresses industry challenges with field automation and mobility solutions that deliver actionable information. Their cloud-based solution leverages that information to enable exception-based management and predictive analytics. Today, Enbase is a market leader in telematics and control for well-head chemical injection and compression assets.
Detechtion is a developer of proprietary algorithms, which working in tandem with simulations, identify opportunities to reduce operating costs and increase production of compression assets. Established in 1999, Detechtion has grown into the market leader in predictive analytics and simulation for compression fleets through its Enalysis™ software.
Fully Integrate Companies to Accelerate Innovation and Deliver Superior Solutions
Industry challenges cannot be addressed with disparate systems. Users expect solutions that integrate hardware, communications, software and mobile capabilities for actionable information. By building upon their existing products, the combined entity will continue to innovate and deliver solutions needed to power the digital oilfield.
Chris Smith, Chief Executive Officer of Detechtion said. “Through this combination, we immediately become the market leader of end-to-end solutions encompassing control, telematics, mobile, and predictive analytics in the oil and gas industry. The Enbase team has done a fantastic job of building solutions and delivering exceptional service and we look forward to their continued contributions.”
The combination will create an unparalleled Industrial IoT platform for oil & gas that includes:
● Cutting-edge field automation that combines control, telematics, configurable logic and analytics
● Mobile solutions to automate work processes and enable collection of non-digitized data
● Cloud-based analytics platform that transforms the data into actionable business intelligence
● Simulation solutions that answer “what-if” questions to optimize asset performance
● Engineering and professional service capabilities enabling customers to fully leverage our solutions
● All products will be available stand-alone to minimize disruption to the current customer base
Virgil Haney, co-founder of Enbase and Chief Technology Officer at Detechtion said, “We are excited to join the Detechtion team and will continue to provide our existing, world-class products and services to our chemical automation and leased compression customers. Looking forward, we are particularly excited about the opportunity to expand our offerings, bringing even more value to our customers.”
To fully leverage the combined experience of both companies, Enbase executives Virgil Haney, Colin Hendricks and Eric Neason will join the Detechtion executive team. Mr. Haney will also become a member of the Detechtion board. All three will continue to be significant investors in the combined company. The corporate headquarters will be in Houston, Texas, and the Canadian headquarters will continue to be located in the current Detechtion offices in Calgary, Alberta. The combined company serves well over 100 customers and manages tens of thousands of assets.
Enbase is an oil and gas technology company focused on field automation, mobile applications, predictive analytics, and operate-by-exception solutions. Headquartered in Houston, Texas and serving E&P, midstream and energy service companies world-wide, Enbase is the company that Powers the Digital Oilfield. For more information about Enbase and its industry-leading solutions visit www.enbasesolutions.com.