Oil and gas leaks can go undetected for years, creating a costly problem for both companies and the environment. But PetroPredict
can help find them. The start-up’s software uses geological and historic production data from various sources to predict vulnerabilities in untested wells, helping decision-makers determine the risk/reward of expensive physical intervention.
PetroPredict earned co-founder Dominic Toselli, a recent University of Waterloo graduate, the top prize of $25,000 plus a suite of business services in OCE’s inaugural David McFadden Energy Entrepreneur Challenge. The start-up has already garnered significant interest from investors and is currently cash flow positive.
Return on Innovation
- $25,000 award from OCE allowed the team to hire four co-op students
- Software is in the pilot stage with an exploration and production company
OCE©2014 Last updated 10/2014