2021: Dominate the Changing Energy Industry

Watch Chief Corvanaut Ryan Dawson speak about Corva’s mission for 2021 here.

What does the energy world look like in the future? That’s something that we spend a lot of time thinking about. When we set out to create the platform of the future, we didn’t only ask ‘How we can solve the problems of today?’, we asked, ‘How can we empower our customers to be the leaders of tomorrow?’ We think operations will not only be smarter and greener, but they will power a whole new set of technologies that enable oil companies to thrive.

By definition, a catalyst is something that accelerates rapid change.  In many ways, the last year was a catalyst that burned away inefficiency in our industry, by necessity.  The energy company of the future is rising like a phoenix from the ashes, and it is transforming into an agile enterprise that prioritizes innovation, automation, and cost-efficiency just as much as the core business of finding and extracting hydrocarbons.  Surviving and thriving again will require the industry to embrace good manufacturing practices in order to optimize dozens of business processes in real-time for batch drilling and extended reach wells, onshore and offshore operations.  

A lot has been said about the energy transition and Corva is proud to be a catalyst to help energy companies rapidly achieve their goals, including shrinking costs across the well life cycle and diversifying their energy mix and ESG (environmental, social, governance).  The consensus, though, is that the world we live in will still run on about 100 million barrels of oil per day for the next 20-40 years. Successfully navigating the road ahead requires a paradigm shift in capital spending and lifting costs, while remaining agile when it comes to G&A/BBL. Corva is tackling it all and innovating toward cost reduction opportunities wherever energy professionals and data intersect.

Corva had a stellar year, helping our clients drill 3,600 wells, releasing 5 new product lines, delivering thousands of product enhancements, and resolving 4,000 support requests in 27 seconds (on average).  We’ve also been working hard on subjective measures of business success like Corva’s user satisfaction benchmark.  With an NPS (net promoter score) of 68, client satisfaction is way up there with the likes of Apple.

In 2020, Corva extended its industry-leading drilling platform to completions, integrating drilling & completion data (frac, wireline, & drill-outs) into a unified view. We took the concept of rapidly accelerating learning curves to a new level and customers have been ecstatic so far, measuring by the feedback and value that has been created.

As we round the bend into 2021, the best way to keep Corva’s traction on the road ahead is to accelerate into the turn.  Corva’s Spring product release will unveil new ways that Corva is powering up offshore operations with entirely new products and engineering advancements.  We are also taking data quality to a whole new level and introducing new systems and automation for categorizing data issues platform-wide.

We will be introducing new ways to visualize map data, better document management, and easier ways to access your real-time streams. These power-ups pale in comparison to what we really want to enable in 2021 which is full automation. We are finally ready to let the world see what has been in development for years and what the industry deserves.

Thank you for believing in us.