Wellbore Matters to Commercialize Teradata Technology in the Oil and Gas Industry’s First Rig Deployable Solution for the Automation of Drill Bit Inspection and Analytics
As Teradata’s exclusive licensee of BitBox™ automated drill bit inspection technology, Wellbore Matters, a Texas startup, is taking it to market with its new generation rig deployable solution
GALVESTON, Texas–(BUSINESS WIRE)–Wellbore Matters, LLC is announcing today, at the industry’s largest US drilling conference, IADC/SPE Conference and Exposition, that they have secured an exclusive license to integrate Teradata’s incubated BitBox™ technology into its new generation rig deployable solution. The partnership leverages Teradata’s industry leading technology, in both drill bit analysis and data analytic platforms, enabling Wellbore Matters customers to use automation to revolutionize drill bit grading, inspection, and drilling analytics.
Brett Luedde, Vice President of Energy and Natural Resources, said, “Teradata is focused on connecting data and analytics in the cloud, and we believe BitBox will be a transformative technology for drill bit decisions. We needed the right partner, with entrepreneurial experience and industry knowledge, to advance BitBox and grow its application as part of our Vantage multi-cloud data platform.”
BitBox is a hybrid system. The physical inspection device captures 180 images of a drill bit. After upload to the cloud BitBox software, the images are processed into a high-resolution 3D model using photogrammetry. AI and machine learning processes then fully characterize every drill bit component, identity, measure defects, and build constructs of the drill bit which enable studies of individual blades and cutters, as well as ordinality of the defects.
“Teradata and Wellbore Matters are fully aligned in the mission to grow BitBox usage and the application of data analytics to improve decision making for oil and gas operations,” said John Gibb, Wellbore’s Founder and CEO.
With its licensing of the technology, Wellbore Matters secured the services of Teradata’s program development team, and is partnering with its oil and gas sales team, and is collaborating in the development of a new online system for drill bit education.
Scott Wise, Founder and COO of Wellbore, spoke to the significant relationship with Teradata: “It was important for us to retain the knowledge chain. Our role is to bring BitBox over the threshold. Wellbore Matters is delivering a ruggedized commercial system that can be deployed to any rig environment and deliver drill bit intelligence anywhere. Our first Model 2.0 units (several of which are spoken for) will be going into the field in September 2022, and customers can’t wait.”
About Wellbore Matters, LLC
Wellbore Matters, LLC is a privately held company committed to the mission to maximize the combined power of vision technologies and data analytics to solve inspection limitations. Wellbore Matters’ product is repeatably reliable measurement and advanced comparative analytics for customers to improve decision-making and drilling performance. Headquartered in Houston, TX, Wellbore Matters services US, and global markets. For more information, visit www.wellborematters.com.
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