Avenirre’s inception was born from challenges faced by co-founders Casey Patterson and Larry Brazile while attempting to optimize oil and gas wells in East Texas in January 2018. Despite the significant potential of these wells, they were not achieving their full potential due to a variety of factors including workforce limitations, rising expenses, shifting industry valuation metrics, outdated technology infrastructure, and evolving regulatory requirements. Recognizing the inadequacy of existing solutions in the market, Patterson and Brazile saw the need for a new solution tailored specifically for operators grappling with these complex challenges.  To them, “optimization” meant getting the most out of the wells and the business.  Take at look at the industry crossroads below to see how and why the Avenirre strategic vision developed.

Workforce Quantity: The oil and gas industry was witnessing a decline in interest from young professionals, resulting in a shrinking workforce. Avenirre identified the potential of technology to mitigate this issue by automating tasks and processes, thereby maximizing operational efficiency.

Workforce Expense: With workforce expenses on the rise and revenues declining for many production companies, Avenirre identified an opportunity to leverage technology to automate workflows, thus reducing the need for expensive personnel and helping to control costs.

Generational Shift in Valuation Metrics: Traditional valuation metrics for oil and gas companies were evolving, with investors placing greater emphasis on free cash flow rather than production volumes. Avenirre understood the importance of detailed visibility on costs and operational efficiency to align with these new valuation criteria.

Workforce Skillsets: Avenirre recognized a generational gap in knowledge regarding the optimization of mature production. The generation that should have developed or absorbed this knowledge during downturns were either let go by their employers or were involved in existing drilling programs carried by low-interest debt. Automating the rapid recognition of production and revenue deficiencies became pivotal for the success of the Avenirre platform.

New Workforce Concerns: According to the Deloitte Global Millennial and Gen Z Survey, new professionals entering the workforce are more concerned about protecting the environment than economic growth of their employer.  Which means oil and gas companies have to think about how they recruit, hire, and retain top talent.  Along with a changing regulatory landscape, oil and gas companies need new solutions to solve recruiting and compliance challenges.

Cloud-based Storage and Computing: Acknowledging the limitations of traditional desktop-based software solutions and scattered digital data storage, Avenirre embraced cloud infrastructure to provide globally accessible data hosting and advanced analytics capabilities.

Evolving Regulatory Landscape: With increasing scrutiny on environmental impact coming from the EPA and SEC with a particular focus on methane emissions, Avenirre recognized an opportunity to provide solutions for emissions management. By leveraging technology and industry expertise, Avenirre aimed to assist operators in reducing emissions and mitigating associated risks.  Going forward, most discussions around production will involve discussions around emissions.  From the Avenirre prospective, a new tool was needed to facilitate those discussions and be a bridge between production and EH&S groups within oil and gas operators.

Drawing from their deep industry experience, insights into workforce dynamics, and a keen understanding of market trends, Avenirre was uniquely positioned to offer a comprehensive platform for oil and gas producers. Their solution is designed to empower operators with powerful analytics and tools to maximize free cash flow, mitigate risks, and optimize asset performance in today’s challenging business environment.