Oil and gas firms have shifted their focus from monitoring and maintenance to real-time, data-driven action, resulting in a 40% increase in digital oilfield M&A activity between 2016 and 2017. Among the start-ups involved is RigNet, a supplier of communications services, applications and cybersecurity solutions. In February, it acquired Brazilian firm Intelie, which offers real-time predictive analytics. Meanwhile, RigUp, whose app matches firms such as Halliburton and Baker Hughes with operators, secured $18m in funding from backers including Quantum Energy Partners and the Founders Fund.
Oil and gas firms have shifted their focus from monitoring and maintenance to real-time, data-driven action, resulting in a 40% increase in digital oilfield M&A activity between 2016 and 2017. Among the start-ups involved is RigNet, a supplier of communications services, applications and cybersecurity solutions. In February, it acquired Brazilian firm Intelie, which offers real-time predictive analytics. Meanwhile, RigUp, whose app matches firms such as Halliburton and Baker Hughes with operators, secured $15.8m in funding from backers including Quantum Energy Partners and the Founders Fund.