Sep 9, 2019

RigNet Signs Multi-Year Agreement with Galoc Production Company to Deliver the Digital Transformation Triple Play: Intelie Live, CyphreLink, and Managed Communications

HOUSTON, Sept. 09, 2019 (GLOBE NEWSWIRE) -- RigNet (NASDAQ: RNET, the company), the leading provider of ultra-secure, intelligent networking solutions, announced today that it has been awarded a multi-year agreement with Galoc Production Company (GPC) to deploy Intelie Live, RigNet’s machine learning-based analytics platform, onboard the floating production storage and offloading (FPSO) vessel Rubicon Intrepid.  RigNet will deploy Intelie Live on its highly secure and scalable Managed Communication Service that includes the deployment of CyphreLink, the company’s military grade encryption solution providing the highest level of data protection for Data in transit. This is the ongoing expansion of RigNet’s portfolio of FPSO clients including 10 FPSOs won in off-shore Brazil over the last 9 months.

Rubicon Intrepid is currently on-station at the Galoc Field, offshore the Philippines at SC14C, Northwest Palawan.

“After a long evaluation process, we have identified Intelie Live as our preferred data analytics platform that satisfies our needs to improve production optimization and to support our goal towards digital transformation,” said Anthony Ferrer, Country Manager at GPC. “Today we capture a significant amount of data across various systems from the field, and with the deployment of Intelie LIVE, we will begin real-time analysis to generate beneficial actionable results. 

“We are pleased to have RigNet as our long-term partner who consistently delivers Value-Added Services that prove beneficial to our business operations,” said Jeffrey Sim, Chief Operating Officer at Rubicon Offshore. “In addition to their highly secure remote communication services, the deployment of their Intelie Live data analytics solution shall allow us to obtain the offshore operating parameters in real time and thus achieve optimum operational efficiency. Intelie Live catapults RigNet to be a leading provider in Digital Transformation within our industry.”

“We are very pleased to announce the selection of Intelie Live by GPC,” said Steven Pickett, Chief Executive Officer and President of RigNet. “GPC’s decision to bundle Intelie Live with our Managed Communication Services along with our industry leading data protection solution, CyphreLink, demonstrates their commitment to digital transformation. We are also pleased to begin expanding into the production sector of the energy market with Intelie Live as it continues to be adopted across the energy value chain.     

About RigNet, Inc.:

RigNet (NASDAQ: RNET) delivers advanced software, optimized industry solutions, and communications infrastructure that allow our customers to realize the business benefits of digital transformation. With world-class, ultra-secure solutions spanning IP connectivity, bandwidth-optimized OTT applications, IIoT big data enablement, and industry-leading machine learning analytics, RigNet supports the full evolution of digital enablement, empowering businesses to respond faster to high priority issues, mitigate the risk of operational disruption, and maximize their overall financial performance. RigNet is headquartered in Houston, Texas with operations around the world. For more information, please visit http://www.rig.net.

Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to the future, not past, events.  Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact.  In this context, forward-looking statements often address our expected future business and financial performance, including the expected benefits of acquiring and integrating other businesses, and often contain words such as “anticipate,” “believe,” “intend,”, “will”, “expect,” “plan” or other similar words.  These forward-looking statements involve certain risks and uncertainties, including those risks set forth in Item 1A – Risk Factors of the Company’s most recent 10-K filing, and ultimately may not prove to be accurate.  Actual results and future events could differ materially from those anticipated in such statements.  For further discussion of risks and uncertainties, individuals should refer to RigNet’s SEC filings.  RigNet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.  All forward-looking statements are qualified in their entirety by this cautionary statement.

Investor Relations Contact:
Lee M. Ahlstrom
Senior Vice President and Chief Financial Officer
RigNet, Inc.
Tel: +1 (281) 674-0699

 

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Source: RigNet, Inc.