Baker Hughes has acquired a minority stake in Verdande Energy, a unit of Verdande Technology of Trondheim, Norway. Verdande supplies a case-based reasoning (CBR) application, ‘DrillEdge’ for real-time identification of drilling problems. DrillEdge works from a database of previously drilled wells to provide an ‘intervention-while-drilling’ response, a.k.a. a ‘bridge between past experience and current operations.’
Scott Schmidt, president of drilling and evaluation for Baker Hughes said, ‘DrillEdge can lower risk, increase rate of penetration and reduce non-productive time. The solution complements our Beacon remote operations platform and will help customers understand their more technically challenging wells.’ Verdande CEO Lars Olrik added, ‘This deal strengthens our place in the market with global support and will accelerate development of our technology.’
Other Verdande investors include Statoil Venture/ProVenture Seed AS, Investinor, the founders and employees. Last year (Oil ITJ November 2010), DrillEdge was deployed at Shell’s network of real-time operating centers for 24/7 monitoring of ‘high visibility and challenging wells’ worldwide. Baker Hughes will be involved in future DrillEdge development. More from www.oilit.com/links/1109_5.
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