Right on tracts

Oil and gas SaaS platform based in Houston expands to Dallas amid major growth

Houston-based Tracts, which makes it easier for mineral buyers and E&P companies to find leads in the industry, is geared for major growth. Courtesy of Tracts

A Houston company has flipped the script on lead generation for mineral buying in the oil and gas industry. Tracts.co has developed a way to get its clients in front of mineral sellers they otherwise wouldn't know to approach.

"Right now, mineral buyers have one major bottleneck — it's consistent across companies except those using Tracts — and it's lead generation," says Ashley Gilmore, CEO and co-founder of the company.

Traditionally, mineral buyers or E&P companies would have to go through public records to source leads. But Tracts' customers have access to the company's title management platform, which uses a patented computation engine and an interpretation library. The process reduces the cost and time spent generating leads, as well as the risk associated with mineral ownership and exploration and production companies and mineral buyers, Gilmore says.

The company has been around since 2014, and began hitting its stride last year after beta testing and working out the structure of the technology. Now, the more customers Tracts has, the more data the system has, which translates to a more valuable platform.

"For some of our clients, Tracts is now existential for their business," Gilmore says. "In other words, they wouldn't be able to operate on their current business model without Tracts."

It's not only customer growth the company has seen. Tracts launched a land solutions group called TLS — Tracts Land Solutions — in the beginning of the year. That group is growing by a dollar amount of 30 percent month over month since January. Tracts also opened a Dallas office, which focused on this land solutions team, to keep up with clients.

"There were two people in Dallas working from home in January," Gilmore says. "Last month, we moved into a 12-person office, and now we've already outgrown it."

Tracts has a 16-person office it'll be moving into, and Gilmore says he expects to double that in the next month or so. Tract's Houston headquarters is around 10 people, and the company has its development team in Seattle. The technology, Gilmore adds, is able to be used throughout the country since it's cloud based.

All this growth is translating into some interesting developments for Tracts, but Gilmore isn't ready yet to announce anything.

"I think our clients are going to be very happy within the next three to six months," Gilmore says.

Tracts allows its clients to skip a few steps in the mineral buying process. Courtesy of Tracts

In honor of Labor Day, here are three Houston innovators who probably aren't taking the day off. Courtesy photos

It may be Labor Day, but some of the hardest working Houston innovators are probably still checking their email on their phones from the pool.

Here are this week's innovators to know around town.

Marie Myers, CFO of UiPath

Marie Myers is the CFO of UiPath. Courtesy of UiPath

Marie Myers is a self-proclaimed Houstonian, avid bike rider, and robotics nerd — for lack of a better word. She's had a 20-year career in tech — most roles based right here in town — and throughout her whole experience, robotics process automation has been the most exciting technology she's gotten to work with.

UiPath just opened an office in Houston earlier this year, and Myers serves the company as CFO. She first worked with UiPath on the client side of things, and the technology awed her. She says she jumped at the opportunity to join the organization.

"When I think about RPA, the world lights up for me," she says. "It's truly transformative."

Click here to read more about the company.

Marco Bo Hansen, chief customer officer at Sani nudge and his executive team

Marco Bo Hansen, right, the chief customer officer at Sani nudge. Courtesy of TMCx

The Sani nudge executives may not be from Houston, but we give the Denmark-based company a pass for all its success coming out of the Texas Medical Center's accelerator program earlier this year. Sani nudge is a medical device company that can better track and encourage hand sanitation. The company is headed to California after being selected for a prestigious program with the Mistletoe Foundation.

Dr. Marco Bo Hansen is the chief customer officer and says that he'll be vigilantly advocating that his Sani nudge colleagues and the Mistletoe researchers keep hospital patients and staff in mind as Sani nudge moves forward with its innovations.

"We have to make sure that our solutions always generate value to the end users and can easily be used by the clinicians, infection preventionists, and hospital managers," he says.

Click here to read more about the company.

Ashley Gilmore, CEO and co-founder of Tracts.co

When Ashley Gilmore was studying law — specifically for the purposes of going into oil and gas — it amazed him how non-digitized the industry was, especially the mineral buying process. Gilmore figured out a way how to use tech to make the process way easier — and cheaper.

Now, his company, Tracts, has a new land group that's growing at a revenue rate of 30 percent month to month. With more and more clients, Tracts engages more data. And, with more and more data, the product increases in value for his customers.

"For some of our clients, Tracts is now existential for their business," Gilmore says. "In other words, they wouldn't be able to operate on their current business model without Tracts."

Click here to read more about the company.