Building blockchain

Houston oil and gas blockchain company expands into new sector

Houston-based Data Gumbo is entering a new phase of business within oil and gas. Courtesy of Data Gumbo

With a new partnership, Houston-based Data Gumbo Corp. will move into a new sector within oil and gas, allowing the startup to tap into the Permian Basin.

Austin-based Antelope Water Management, which provides sustainable water solutions within the O&G industry, has partnered with Data Gumbo on its blockchain network, called GumboNetâ„¢, allowing the Houston startup to go beyond the drilling sector. The partnership means Data Gumbo will have life operations in both onshore and offshore drilling, including in the shale basins, according to a news release.

"As an integrated water management company in the Permian Basin providing tailored management services for water infrastructure, we look forward to incorporating Data Gumbo into each of our business units," says Dustin Brownlow, CEO of Antelope, in the release. "Data Gumbo is a game changer enabling us to provide customers, vendors, and regulators the best experience that smart contracts can offer."

According to the release, this partnership is the first use of a blockchain platform for water management services in U.S. shale sites in the industry.

"Data Gumbo was the first blockchain in offshore drilling and now we are the first in oil and gas water management. We anticipate continuing to break ground across the industry as companies realize the vast benefits we afford them such as security, certainty of data and, most of all, savings to the bottom line," says Andrew Bruce, CEO of Data Gumbo, in the release.

The technology allows for valuable cost-saving initiatives, including lower overhead expenditures, fewer outstanding payments between parties, and data certainty for business transactions.

Data Gumbo operates as a blockchain-as-a-service company, where clients across midstream, drilling and completions opt into the network service. The company was founded in 2016 and recently closed a $6 million Series A round.

LaserStream has been acquired by Stress Engineering Services Inc. Getty Images

A Humble-based startup that provides laser-based scans of pipeline has been acquired by Houston-based Stress Engineering Services Inc.

LaserStream's technology that can evaluate damage and corrosion as well as calculate measurements of various equipment has been folded into SES. Three of the startup's leaders will join SES to run the group, and the financial amount of the deal has not been disclosed.

"We are proud of the prior working relationship enjoyed between our two companies and we are confident that LaserStream will forge a successful future as part of SES," co-founder Jason Waligura, who will move over to SES, says in a news release. "We look forward to delivering strong results for our existing clients, as well as expanding our capabilities with the world class service and capability of SES."

SES has acquired LaserSteam's laser-mapping technology and will combine with its laboratories and service offerings in Houston; Waller, Texas; New Orleans; Cincinnati; Singapore; and Calgary, Alberta, per the release. The technology is impactful on several industry verticals, including upstream, midstream, and downstream oil and gas, as well as the aerospace, consumer, and medical services industries.

"We believe that growing our existing capabilities is critical to our success in the broad spectrum of markets in which we participate," says Kenneth Bhalla, chief technical officer at SES, in the release. "The acquisition of Laserstream will add new, innovative capabilities in our core markets. This will diversify our product portfolio and capabilities in new and important areas. We are very excited to add LaserStream to an already outstanding business and team."

LaserStream was named one of the 10 most-promising startups at Rice University's fifth annual Rice Alliance Startup Roundup event at the 2019 Offshore Technology Conference. The company was rounded in 2014.


Photo via laserstreamlp.com