Perfobur is a hardware solution enabling O&G companies to restore production rate up to 80% of initial level on old exhausted wells with <10% of initial cost, that is >5x cheaper than traditional alternatives.
Oil is not going anywhere even in the era of decarbonization, but new exploration is not economically feasible, putting huge pressure on O&G companies worldwide.
Traditional alternatives for production stimulation such as fracturing, chemical flooding, jetting radial drilling are highly unpredictable and disastrous for the environment. They have a very limited applicability and cost $300k-1500k per well.
Perfobur’s efficient, predictable and green tech enables drilling of radial segments with precisely controlled trajectory and can be executed from a workover rig that costs $4k a day (>9x less than when using a general purpose drilling rig, $38k a day, in traditional approaches).
That directly disrupts a $50bn market of >800k marginal wells.
Potential is proved by exceptional traction in the first year of operations on all major O&G markets (Middle East, South Asia, Russia and US) - $600k in revenue ~$3m in current backlog. Company is on track to reach $5m sales in 2021 based on just current work in progress order book from companies like Kuwait Oil Corporation, Saudi Aramco, ConocoPhillips, Liberty Resources and other Lower 48 companies in the US.
That all is due to an exceptional international team of O&G professionals (operations & bizdev) from US & Middle East markets, ex-VC with deeptech focus and R&D team that has >200 papers and >60 certificates of authorship and patents on core tech.