Corva began 2018 with our technology deployed on only 3 rigs and we ended the year on 110. An amazing story of growth for any start-up, all powered by our incredible clients. From the Driller’s Roadmap to the recent launch of our BHA Optimization app, Corva’s focus remains laser-focused: drilling optimization leading to faster, better, and more cost-effective wells.
The real-world impact of Corva’s technology throughout 2018 was truly astounding. Connection time cut by 2 minutes, rig time reduced by 2.3 days, 11 washouts averted, $120,000 saved on a single well – these are just some of the results. Our customers have taught us so much along the way and we are truly grateful to have their support and guidance.
As we move into the new year, Corva is well poised to sustain North American drilling momentum at a crucial time of commodity price uncertainty. Our technology is bringing factory drilling to life in a big way by optimizing drilling performance as well as field spending, which is exactly what the industry needs in the new year.
We’re tripling down on value in 2019 and taking our suite of nearly 50 drilling optimization apps to the next level. Corva will continue driving new drilling cost-efficiencies and performance metrics like slide %, rotate ROP, and connection times. Our product lineup brings drilling optimization to the entire organization with new tools for drillers, the VP and everyone in between. At Corva, we believe a connected platform can usher in digital transformation by delivering the right data to the right people at the right time, accelerating decision-making to the speed of business.