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Drillapp Inc

Drillapp helps oil companies (E/P) to reduce unplanned events in drilling, completion and production of wells so they can benefit from a cost reduction. Through market research, Drillapp has determined that major oil and gas companies teams present an extra cost of 25 - 40% of the total drilling budget due to events outside the plan.
Austin

About Drillapp Inc

We built PITIA© a cloud-base software and mobile app, that gathers, secures and process wellsite data to get analytics in real time to alert the supervision team both at the field and headquarters of upcoming problems, risk and key strategies.

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Problem statement

The current wellsite analytics process is outdated and fragmented upstream for oil and gas companies. Due to the unattended consequences of inefficient tracking software, oil and gas companies inadvertently spend 25-40% more in their total drilling budget annually.

Traction information

Drillapp has successfully launched its enterprise solution to 3 countries with 80% customer retention. In fiscal year 2018 generated $509k USD in gross revenue. Drillapp reported $1.1M in earned revenues in fiscal year 2019, and is on track to hit $2.5M in gross revenue in fiscal year 2020.

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Added about 3 years ago
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