Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the oil and gas industry. This time, you get to discover 5 hand-picked reservoir simulation startups.
Global Startup Heat Map: 5 Top Reservoir Simulation Startups
The 5 startups you will explore below are chosen based on our data-driven startup scouting approach, taking into account factors such as location, founding year, and relevance of technology, among others. This analysis is based on the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 1.3 million startups & scaleups globally.
The Global Startup Heat Map below highlights the 5 reservoir simulation startups & scaleups our Innovation Researchers curated for this report. Moreover, you get insights into regions that observe a high startup activity and the global geographic distribution of the 85 companies we analyzed for this specific topic.
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Zyfra offers Reservoir Geomechanics-based Solutions
Reservoir simulation requires more accurate inputs to produce reliable results. Based on the concepts of geomechanics, reservoir simulators predict pore pressure, stress, and strain in a reservoir. This helps oil & gas engineers plan infill drilling of new wells and maximize the stability of the reservoir. To this end, oil & gas startups develop simulation solutions that account for the reservoir’s geomechanics.
Zyfra is a Finnish startup designing various software-based 3d modeling solutions for the oil and gas industry through its proprietary cloud-based industrial internet of things (IIoT) platform. The startup’s offerings include a field development platform – Geonaft, a software-based precision drill, and tools for production scheduling and predictive maintenance, among others. Geonaft also includes solutions that offer comprehensive modeling of oil & gas field mechanical behavior in a 3D environment. Further, Geonaft’s modules include geo-steering, drilling, and petro-physics. The software helps engineers import and visualize data to make quick and accurate decisions about oilfield development.
GeomodL provides Integrated Well Delivery Solutions
Integrated well delivery optimizes the plan of field development and prevents unnecessary complications from arising in the future. This includes intelligent approaches that utilize AI, machine learning, and automation to unify the injection and production wells. Moreover, integrated well delivery provides operators with real-time well visibility that boosts the efficiency of production planning, maintenance scheduling and reduces operational costs.
GeomodL is a Malaysian scaleup that offers reservoir modeling and simulation solutions. The startup’s services include proprietary geo-modeling, geo-decision, and geo-operations toolkits. As a plug-in for its geo-modeling solution, the startup offers integrated well delivery solutions. This plug-in also helps operators design drilling plans and view wells in 3D against reservoir properties. This helps oil & gas well operators maintain safety in the field and control budgets.
ResFrac builds Fracture Simulation Tools
Before planning a hydraulic fracture, a completion engineer needs to know how the reservoir holds up under compressional stress. Fracture simulation helps service companies in treatment scheduling, predicting fracture growth, designing the adaptive fracture designs, and also the economic predictions for the fracture jobs. To this end, startups develop solutions that enable better fracture simulation with advanced technologies.
US-based startup ResFrac offers services that include well, depth, and cluster spacing optimization, and child well fracture design, as well as proppant and liquid loading sensitivities for the upstream oil and gas industry. The startup’s fracture modeling software ResFrac is a fully-compositional 3D simulator. The software offers high-resolution 3D visualizations that help completion engineers optimize pumping schedules that then reduce the cost of re-fracturing.
Inside Petroleum provides a Probabilistic Reserves Platform
Upstream exploration and production (E&P) companies optimize their production schedules based on their capital and operating expenses (CAPEX & OPEX). To drive profitability, oil & gas companies employ probabilistic forecasting, Monte Carlo simulations, and AI fuzzy logic concepts. For example, the simulations provide production-related data and estimate the net present value (NPV). These forecasts provide operators with the confidence to progress on-field development and perform error analysis.
US-based scaleup Inside Petroleum builds a cloud-based probabilistic reserve and economics platform for the oil & gas industry. The scaleup’s integrated platform, ComboCurve, offers probabilistic forecasting with pattern recognition and segmentation. In addition, Inside Petroleum captures a variety of outcomes with more granularity enabling better planning for the industry. Reservoir engineers and asset operators use ComboCurve to make informed decisions based on forecasted daily production and economics analysis.
O&G Cloud offers a Cloud-based Simulation Platform
Cloud-native tools like ‘as-a-service’ platforms offer advanced analytics, rich visual dashboards, and real-time insights accessible remotely. Cloud-based computing solutions boost efficiency, provide better security, enable scalability, and also eases the digital transformation.
O&G Cloud is a Singaporean startup offering the upstream oil and gas industry with a cloud-based platform. The startup’s platform XXSim features thermal, black oil, and compositional reservoir simulation modules. Along with the platform, XXSim also offers the tools that convert the simulation files from other simulators. The cloud computing platform enables reservoir engineers to predict reservoir performance and suggest necessary inputs to maximize production.
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