On Tuesday, Dallas-based Archeio Technologies unveiled its oil and gas software that gives oil and gas operators access to search, manage, and analyze oilfield data for thousands of wells across North America.
The software startup company, founded by Rex Womble and Chetan Chouhan in 2015, said it recognized the critical need for a new generation of well file software in the petroleum industry and has spent the past year developing and raising $1 million through seed funding and VC backing, according to a news release.
“Everyday energy companies make exploration and production decisions with millions at stake, decisions that rely on having access to the right information at the right time,” Womble said in a release. “There’s an overwhelming amount of unstructured well data to navigate and the right information is often out of reach when it is needed the most.”
Archeio’s smart search technology enables energy professionals to find relevant oilfield information using any device, such as tablets and smartphones.
“The industry has struggled for decades to solve the problem but lacked a truly modern, secure and intelligent way to manage well information, which is why we launched Archeio, to improve the way energy companies access relevant data and documents,” Womble said.
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