Benzinga | Oct 21, 2021 12:11PM EDT

Patterson-UTI and Corva Announce Strategic Data Analytics and Visualization Collaboration

Corva, the leader in real time drilling and completions analytics, and Patterson-UTI Energy, Inc. (NASDAQ:PTEN), a leading provider of drilling and completion services, today announced a strategic data analytics and visualization collaboration plan that will equip oil & gas producers with the digital tools to drill and complete more productive and profitable wells while hitting lower emissions targets. This collaboration is intended to leverage Patterson-UTI's advanced wellsite and cloud-based data capabilities to further enhance Corva's extensive suite of cloud-based drilling analytics.

"We are excited to partner with Patterson-UTI to take on the tough digital oilfield challenges that will unlock greater rig, cost, and ESG performance," said Ryan Dawson, Corva's founder and CEO. "Together, we are accelerating the digital transformation across basins with real time drilling analytics, solving big data analysis in the field with edge computing integration, and empowering partners and clients to build their own solutions and innovate at their full potential," Dawson stated.

Andy Hendricks, Patterson-UTI's Chief Executive Officer, added, "We are pleased to collaborate with Corva -- a company that shares a similar view as to the incredible potential made possible through the use of advanced data analytics in the drilling and completion business. It is an exciting time in the industry as new and advanced practices within data analytics unlock value for the industry, and we are glad to be a part of this.

As part of the collaboration, E&P companies will have the opportunity to access Patterson-UTI's advanced digital capabilities, including real-time data from its Cortex(r) Key edge server, through Corva's comprehensive suite of more than 60 drilling apps that work in any connectivity landscape. Patterson-UTI's Cortex(r) Key edge server connects to various systems at the well site, streaming large data sets and providing a single, high-speed data aggregation source. The Corva and Patterson-UTI collaboration brings together category leading super-spec rig capabilities, rig automation, and drilling and completion optimization analytics spanning drilling and completions operations and hazard avoidance.

Additionally, E&P companies will benefit from Corva Dev Center, enabling Patterson-UTI and its customers to develop their own innovative solutions tightly integrated with their core business systems. Patterson-UTI plans to work with Corva to provide apps that take full advantage of the drilling contractor's super-spec fleet's drilling automation and ESG capabilities.