Baker Hughes Forms Strategic Digital Collaboration with Corva

Source: 1/30/2023, Location: Europe

- Baker Hughes to become reseller of Corva’s 100+ well construction software applications
- Corva provides a superior user experience with mission-critical data and analytics to optimize operational performance
- Baker Hughes’ minority investment in Corva will diversify and grow its oil and gas digital ecosystem offerings for customers

Baker Hughes, an energy technology company, announced Monday a strategic investment and collaboration with Corva, a Houston-based company that delivers cloud-based well construction digital solutions, to bolster oil and gas customers’ rig visualization and drive enhanced decision making across the well lifecycle.

Corva provides an outstanding user experience and industry-leading analytics for over 100 well construction applications through the use of offset and real-time data, enabling customers to save money by enhancing their well construction operations. Its open development platform also encourages innovation by operators and service providers, resulting in an all-inclusive solution that addresses the customer's core need of reducing well construction costs and improving wellbore placement for more efficient and intelligent oil and gas operations.

Baker Hughes has provided a minority investment in Corva and will become an international reseller of Corva well construction products for global customers, as well as being the exclusive international reseller for Corva in certain regions. By bringing this cutting-edge digital solution to customers, Baker Hughes continues to expand its well construction digital offerings for the oil and gas industry.

Together, Baker Hughes and Corva plan to deliver a powerhouse of digital applications for oil and gas operations that drive better outcomes for customers. In addition to its investment and reseller agreement, Baker Hughes will introduce new applications on the Corva App Store to offer customers access to its oilfield expertise.

“With our century-long expertise delivering advanced oilfield solutions, we are pleased to join forces with Corva, a leader in well construction applications, to drive more intelligent and efficient operations for our customers,” said Maria Claudia Borras, executive vice president of Oilfield Services and Equipment (OFSE) at Baker Hughes. “At Baker Hughes, we see digital as a language that — when combined with our domain expertise — helps us speak to our customers and differentiate OFSE’s core service offerings. With our investment and collaboration, customers can expect a truly collaborative digital oilfield, allowing us to deliver enhanced digital capabilities and ensure customers can drill faster, better and more accurately.”

“Corva is excited about the strategic collaboration with Baker Hughes as it creates an opportunity to enhance digital capabilities across well construction globally,” said Ryan Dawson, founder and CEO of Corva. “This collaboration joins Corva's market-leading digital offerings with Baker Hughes's technology leadership for a superior end user experience that results in long-term value for our customers. Baker Hughes will also leverage Corva's Dev Center to broaden well construction solutions in the Corva App Store.”

Baker Hughes customers can experience the benefits of this strategic collaboration immediately by leveraging Corva’s existing applications in the international market. The two companies will also continue to develop and expand their offerings in the well construction digital space over time.

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