'Uberization' of the oilfield. The new low cost way to operate
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Investing with James West of Evercore Podcast
Investing with James West of Evercore. Bringing “on demand” to the oilfield with equipcast CEO Sergio Tuberquia
A big thank you to Texas Ventures’ Scott Crist whom we interviewed as part of a series of 1x1s with energy venture capital pioneers last month (page 14 in this report). Scott introduced us to Sergio Tuberquia, an oil patch veteran who helms equipcast, a machine learning-based smart oilfield solution that provides production optimization. The company provides a very simple, low low-cost platform for operating and monitoring oil wells that have yielded savings of $7.5M in lost production, 70% in operational efficiency increases, 30% fewer technicians, and 60% less hardware (as part of a series of customer case studies). If U.S. shale is to live to fight another day then companies like equipcast will likely be part of the solution and could possibly lead to upstream companies eventually outsourcing their production capabilities (a radical, but plausible idea). Think about equipcast an uber and the well as its passenger.