Collaboration will combine Weatherford’s production optimization and completions capability with LYTT’s acoustic sensing and data analytics to help energy businesses drive efficiency and profitability
LYTT, a provider of real-time insights to energy asset operators through intelligent sensor data extraction and acoustic fingerprinting, and Weatherford, a leading global energy services company, have signed an international collaboration agreement. The collaboration will target all lines of business, industries and platforms and combine LYTT’s proprietary sensing insights with Weatherford’s expertise in distributed fiber-optic sensing (DFOS), deployed through Foresite, an industry leading platform. The collaboration will create a new offering to help customers revitalize and optimize their energy assets.
With one of the largest permanent installation bases in the sector, Weatherford is ideally placed to drive digital change. The agreement will see LYTT’s edge-computing, analytics and data visualization positioned with Weatherford’s optical-sensor reliability and expertise to deliver ForeSite® Sense, Powered by LYTT. This solution will help empower customers to confidently manage injection profiling, diagnose well-integrity issues, regulate sand production, and enhance production efficiency.
Daryn Edgar, CEO, LYTT, said: “Our platform is growing at the pace of our customers’ challenges, which is why creating an ecosystem linking our unique offerings and customer bases is vital. With over 1,700 installations globally, our collaboration with Weatherford will give customers the opportunity to extract additional value from both existing and planned installations worldwide. We are excited to work with Weatherford to help deliver additional value with previously inaccessible critical insights, helping their customers to detect what matters most instantly and continuously, revitalizing energy assets.”
Girish K. Saligram, President and Chief Executive Officer of Weatherford, said: “In today’s environment, operators seek to maximize returns and optimize production while also reducing their carbon footprint. We are excited to work with LYTT and believe our combined technologies and expertise will provide operators with the necessary visibility and analysis to achieve more efficient, profitable and sustainable operations.”