Wellstarter
Wellstarter - Improves resource utilization | Wireless inflow profiling.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | Early VC | |
| Total Funding | 000k | ||
| NOK | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | - | 139 % | 145 % | (63 %) | 77 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (4600 %) | - | (20 %) | 31 % | (34 %) | (621 %) | (303 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Based in Trondheim, Norway, Wellstarter is a technology firm focused on the oil and gas industry, providing solutions to enhance reservoir recovery and well productivity. The company was founded by Fridtjof Nyhavn, who now serves in an advisory role, with Erik Skogen as CEO and Tore Ottesen as CTO. Wellstarter addresses a critical challenge in reservoir management: the high cost and risk associated with conventional downhole production data acquisition.
The company's core offering is the HIPlog® solution, a wireless downhole flow metering technology designed for long-term, intervention-free monitoring of well performance. This system provides reliable downhole flowrate profiling by installing autonomous heat sources and temperature sensors within the well. The heat sources create small, controlled heat waves in the fluid, and the downstream sensors detect these waves, carrying information about the flow rate. This data is then transmitted wirelessly and made available in real-time through a cloud-based, digitized workflow.
HIPlog® is engineered to be adaptable, with options for both permanent tubing-deployed installations in new wells and retrofit wireline-deployed solutions for existing ones. The technology is applicable to a variety of well types, including oil producers as well as water and CO2 injectors. By providing accurate, steady-state flow measurements at reservoir conditions without requiring production stoppages, Wellstarter enables operators to make informed decisions on field management, such as optimizing infill drilling and balancing production and injection. The company has successfully field-tested its technology, including a survey in a live oil well in Oman for ARA Petroleum LLC.
Keywords: downhole flow monitoring, reservoir management technology, wireless flow metering, oil well productivity, inflow profiling, intervention-free well monitoring, real-time production data, reservoir recovery optimization, HIPlog technology, downhole sensor technology, oil and gas technology, well surveillance, production logging, CO2 injector monitoring, water injector monitoring, petroleum engineering solutions, digital oilfield, well performance data, subsurface diagnostics