Overview
Oliden Technology, headquartered in Stafford, Texas, was established in 2011 and operates in the Energy/Oil industry. It is renowned for developing advanced Logging While Drilling (LWD) and Measurement While Drilling (MWD) technologies. The company's focus lies in enhancing drilling efficiency and productivity, particularly in shale-gas exploration. Oliden Technology aims to be a leading independent MWD/LWD equipment R&D firm offering a suite of advanced tools globally, while supporting greener technology initiatives.
Financial Data
Oliden Technology has successfully raised a total of $14.5 million through various funding rounds, with the latest round valued at $10 million occurring on April 24, 2019. The company has an estimated annual revenue of $6.9 million, and a revenue per employee of $196,000, employing approximately 35 people. There was a -10% growth in employee count over the past year, suggesting a focus on optimizing operational efficiency in a competitive sector.
Products and Services
Oliden Technology offers a comprehensive range of MWD and LWD tools and services. Key products include:
- GeoFusion: Ensures precise well placement even in conditions of high mud salinity.
- DataFusion: Facilitates comprehensive data acquisition and management related to MWD, LWD, and surface data.
Additionally, the company offers a robust 3-phase training program providing operational and technological insights to ensure optimal tool utilization, thereby empowering clients globally within the oil and gas sector.
Leadership
Dr. Qiming Li, the Chairman, co-founder, and CEO, leads Oliden Technology with a strong focus on strategic development and technological advancements in oilfield operations. The Chief Technology Officer (CTO), Jian Yang, is also a co-founder and brings over twenty years of technical and managerial expertise, especially in well logging and measurement technologies.
Strategic Focus and Market Position
Oliden Technology is strategically focused on developing measurements specifically for shale-gas to enhance drilling efficiency, aligning with global environmental goals for sustainable exploration. The company's technological innovation and comprehensive R&D efforts solidify its position as a key independent equipment manufacturer in the MWD/LWD market, servicing regions including North America, Asia, the Middle East, and Africa.
Competitors
Oliden Technology faces competition from a variety of companies offering unique services within the energy sector. Prominent competitors include:
- Gyrodata: A global leader in wellbore placement and characterization technologies, with around 1,000 employees and revenue estimated at $1.2 billion. They provide gyro-surveying tools and MWD technologies.
- MOTIVE Drilling Technologies: Specializes in directional drilling bit guidance solutions with annual revenue of approximately $36 million, focusing on technology to optimize drilling operations.
- Scientific Drilling International: Offers worldwide directional drilling, wellbore navigation, and surveying services, maintaining a strong market position through pioneering technologies.
- Peloton Computer Enterprises Ltd: Develops well data management and visualization software critical for operations throughout drilling lifecycles, influencing digital transformation in oil and gas.
These competitors present both direct and indirect market challenges in areas such as surveying, drilling automation, and integrated software solutions.
Market Position and Strategy
Oliden Technology maintains a competitive edge by delivering specialized MWD/LWD tools and striving for operational excellence against larger competitors with broader offerings. The company's innovative focus and commitment to sustainable drilling solutions underpin its market positioning and potential growth trajectory. Social media and online presence are pivotal for communicating its strategic initiatives, product developments, and engaging with stakeholders.
Social Media Presence:
- LinkedIn: [Oliden Technology](https://www.linkedin.com/company/oliden-technology)
