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Lux Research published Nest Lab profile

31 March 2016
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Lux Research published Nest Lab profile for its customers on the 30th of March 2016.

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The paper prepared was based on the phone conversation mainly. There was one important detail disclosed through that speaking – there is a 100%-competitive company in California. Realizing the same idea of Big Data software creation and use of machine learning in the oilfield development that team got 20 mil. $ from a group of investors. There are about 6000 wells in the development process currently.

Lux Research

“It is interesting to notice the fact we didn’t meet any real competitors before”, – says Timur Imaev, the Nest Lab CMO. – “There are many products automatizing different processes during the oilfield development, but no one robotizes (uses machine learning and individual approach to each well, software tool for Big Data) everything from searching the best places for drilling, looking for all types of well interventions to maintain the oil production and finding the best water flooding solutions. Now we know we are not the one. It is great!”