Continuously

better answers

FACTOR DRIVE™

THE FIRST GEOSTEERING ADVISOR

 

An automated geosteering advisor that exposes more wellbore to the productive zone, reduces sidetracks, and minimizes tortuosity for increased production.

Calculates most probable positions of geologic structure and well path. Current tools don’t do that.

Recalculates probabilities over the whole well each time a new measurement arrives. Humans can’t do that.

VALUE TO OIL & GAS OPERATORS

Named Most Promising Energy & Clean Technology
Company at Rice Alliance Energy & Clean
Technology Venture Forum

Named Most Promising Energy & Clean Technology Company at Rice Alliance Energy & Clean Technology Venture Forum

Dripping Springs, Texas – (Sept. 14, 2018)

Factor Technology was named Most Promising Energy and Clean Technology Company at the 16th Annual Energy & Clean Technology Venture Forum in Houston this week. The Rice Alliance for Technology and Entrepreneurship hosted the event and more than 90 companies showcased their new offerings at the largest energy venture capital conference in the Southwest with 650 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs.

The two-day event culminated in an announcement of the 10 Most Promising Energy and Clean Technology Companies Award companies chosen from more than 225 startup applicants and judged by the Rice Alliance Energy & Clean Technology industry experts and interest generated from participating investors. Seventy-five investors groups, including nearly all the major energy companies, met with 90 startups at office hours the day before the forum. More than 50 companies presented their business pitch at the forum, with an additional 30 participating in the company showcase. This was the most startups ever to participate in the Energy Forum.

Factor Technology was named one of the 10 Most Promising Energy and Clean Technology Venture Companies at the forum. Factor Technology developed Factor Drive™, the industry’s first automated geosteering advisor. The Factor Drive service leverages a new algorithm based on machine learning technology, and employs high performance computing, to continuously convert downhole measurements into a live picture of the wellbore position and the earth. Wells positioned with Factor Drive can expose more wellbore to the productive zone, avoid sidetracks, and minimize tortuosity for increased production.

Founder and CEO of Factor Technology, Hugh Winkler, said:

“We are thrilled to be selected as one of the top ten most promising companies. We are proving out our continuous, autonomous geosteering interpretation technology with select operators, and we are pleased to see such a high level of interest in what we are doing. Ten years from now, every operator will drill horizontal wells using automated well positioning tools like Factor Drive, and Factor Technology will be the leader in this field.”

Half of the ten most promising companies are based in the Houston area: Aerospec Technologies, Belmont Technology, DataGumbo, INNOWELL and Sensoleak Global. The other companies hail from both Texas and out –of-state: LaserStream, Humble, TX, Factor Technology, Dripping Springs, TX; Arix Technologies, Jackson, LA; LongPath Technologies, Boulder, CO; OceanComm, Chicago, IL.

“Every year the quality of companies improves,” said Rice Alliance managing director Brad Burke, who presided over the announcement of the winners of the Energy & Clean Technology Venture awards at the event. “Over the past 16 years, more than 2,000 companies have presented at Rice Alliance Technology Venture Forums. These companies have raised more than $5.4 billion in funding. This speaks to the quality of the companies and to the robust entrepreneurial ecosystem of investors that has been developed to support these companies. Despite the challenging economic environment over the past several years, good companies have been able to attract investors.”

The Forum was supported by:
Chevron, Shell, Mercury Fund, Wells Fargo, BP, GE, Saudi Aramco Energy Ventures, Shearman TechnipFMC, Total, Anadarko, Altira, ConocoPhillips, Equinor, Lime Rock Partners, EV Equity Investment, Energy Innovation Capital, Pioneer Energy, DCP Technology Ventures, Norton Rose Fulbright, PKF Texas, Winstead, Insperity, Hunton Andrews Kurth, Clovis Point Capital, Vinson & Elkins LLP, Energy Valley, Inc., Leyendecker Executive Search, Blackstone, Greater Houston Partnership, Canadian Consulate, ATI and CleanTech Open, Energy Valley, Inc. Houston Angel Network and U.S. Department of Energy and Houston

Most Promising
Energy And Clean
Tech Venture
Award

Dripping Springs, Texas – (Sept. 14, 2018)

Factor Technology was named Most Promising Energy and Clean Technology Company at the 16th Annual Energy & Clean Technology Venture Forum in Houston this week. The Rice Alliance for Technology and Entrepreneurship hosted the event and more than 90 companies showcased their new offerings at the largest energy venture capital conference in the Southwest with 650 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs.

The two-day event culminated in an announcement of the 10 Most Promising Energy and Clean Technology Companies Award companies chosen from more than 225 startup applicants and judged by the Rice Alliance Energy & Clean Technology industry experts and interest generated from participating investors. Seventy-five investors groups, including nearly all the major energy companies, met with 90 startups at office hours the day before the forum. More than 50 companies presented their business pitch at the forum, with an additional 30 participating in the company showcase. This was the most startups ever to participate in the Energy Forum.

Factor Technology was named one of the 10 Most Promising Energy and Clean Technology Venture Companies at the forum. Factor Technology developed Factor Drive™, the industry’s first automated geosteering advisor. The Factor Drive service leverages a new algorithm based on machine learning technology, and employs high performance computing, to continuously convert downhole measurements into a live picture of the wellbore position and the earth. Wells positioned with Factor Drive can expose more wellbore to the productive zone, avoid sidetracks, and minimize tortuosity for increased production.

Founder and CEO of Factor Technology, Hugh Winkler, said:

“We are thrilled to be selected as one of the top ten most promising companies. We are proving out our continuous, autonomous geosteering interpretation technology with select operators, and we are pleased to see such a high level of interest in what we are doing. Ten years from now, every operator will drill horizontal wells using automated well positioning tools like Factor Drive, and Factor Technology will be the leader in this field.”

Half of the ten most promising companies are based in the Houston area: Aerospec Technologies, Belmont Technology, DataGumbo, INNOWELL and Sensoleak Global. The other companies hail from both Texas and out –of-state: LaserStream, Humble, TX, Factor Technology, Dripping Springs, TX; Arix Technologies, Jackson, LA; LongPath Technologies, Boulder, CO; OceanComm, Chicago, IL.

“Every year the quality of companies improves,” said Rice Alliance managing director Brad Burke, who presided over the announcement of the winners of the Energy & Clean Technology Venture awards at the event. “Over the past 16 years, more than 2,000 companies have presented at Rice Alliance Technology Venture Forums. These companies have raised more than $5.4 billion in funding. This speaks to the quality of the companies and to the robust entrepreneurial ecosystem of investors that has been developed to support these companies. Despite the challenging economic environment over the past several years, good companies have been able to attract investors.”

The Forum was supported by:
Chevron, Shell, Mercury Fund, Wells Fargo, BP, GE, Saudi Aramco Energy Ventures, Shearman TechnipFMC, Total, Anadarko, Altira, ConocoPhillips, Equinor, Lime Rock Partners, EV Equity Investment, Energy Innovation Capital, Pioneer Energy, DCP Technology Ventures, Norton Rose Fulbright, PKF Texas, Winstead, Insperity, Hunton Andrews Kurth, Clovis Point Capital, Vinson & Elkins LLP, Energy Valley, Inc., Leyendecker Executive Search, Blackstone, Greater Houston Partnership, Canadian Consulate, ATI and CleanTech Open, Energy Valley, Inc. Houston Angel Network and U.S. Department of Energy and Houston

Most Promising
Energy And Clean
Tech Venture
Award

Our team

Hugh Winkler

Founder, CEO

Phillip Strauss

Founder, VP Operations

John Fierstien

Founder, VP Products