Motive Drilling Technologies Competitors, Revenue, Alternatives and Pricing

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Overview

Location:
Dallas, TX USA
Total Funding:$10.5M
Industry:Energy/Oil
Founded:2015
Lead Investor(s):Formation 8, GE Ventures

Estimated Revenue & Financials

  • Motive Drilling Technologies's estimated annual revenue is currently $23.3M per year.(?)
  • Motive Drilling Technologies received $10.5M in venture funding in February 2016.
  • Motive Drilling Technologies's estimated revenue per employee is $245,000
  • Motive Drilling Technologies's total funding is $10.5M.

Employee Data

  • Motive Drilling Technologies has 95 Employees.(?)
  • Motive Drilling Technologies grew their employee count by 44% last year.
  • Motive Drilling Technologies currently has 1 job openings.

The MOTIVE® mission is to provide unique technologies that redefine today's approach to drilling unconventional wells. MOTIVE has introduced the industry's first use of automated decision-making to guide the directional drilling process in real-time; and to deliver unprecedented improvement in operational performance. The MOTIVE Directional Drilling Bit Guidance system automates the decision-making associated with the drilling of extended reach and horizontal wells.. The system considers the total economic consequences of directional drilling decisions and has proven to consistently improve the driller's ability to reduce the average drilling time, to reduce lost time risk associated with excess tortuosity, and to increase the hydrocarbon production potential of the completed well through better accuracy. The system performs all of the standard directional drilling calculations that were previously done by the directional driller, but supports him by performing these calculations continuously and faster than is humanly possible. In addition, the system provides a tremendous amount of unique and new analysis of the data, and automatically provides the driller with intuitive easy to follow turn-by-turn guidance based on parameters set together with the operator. The automation of the decision-making process is only possible using advanced self-learning algorithms and high end computing. The guidance system removes the variable human element that leads to the large variation in performance in directional drilling seen today, and instead provides consistency of high performance somewhat independent of the experience level of the directional driller. The MOTIVE Directional Drilling Bit Guidance System keeps the entire decision-making team informed about past, current, and future planned directional drilling activities through its distributed 2D and 3D visualization interfaces, dynamic reporting, and automated email and text notifications.

keywords:Energy,Oil & Gas