Nov 4, 2019

RigNet Signs Strategic Agreement with BP for Intelie Live

RigNet is selected to provide Intelie Live, its machine learning based platform, across BP’s drilling fleet

HOUSTON, Nov. 04, 2019 (GLOBE NEWSWIRE) -- RigNet (NASDAQ: RNET, the Company), the leading provider of ultra-secure, intelligent networking solutions, announced today that it has signed a multi-year agreement with BP (NYSE:BP), one of the world’s largest exploration and production companies. RigNet’s Intelie Live will deploy its machine learning based analytics in BP’s Remote Collaboration Center, in order to improve operational efficiency and productivity across BP’s drilling operations.

“RigNet’s Intelie Live has demonstrated the potential of the solution with its speed to meet our requirements and expectations,” said Paul Forman, VP Global Solutions (Global Wells Organization) of BP. “Utilizing Intelie Live in our Remote Collaboration Center has the potential to improve the safety of our operations and the reliability of the wells we construct while reducing costs by improving the efficiency of our work through the effective use of our data.”

Intelie Live will be used to process, map and integrate tens of thousands of unique data elements into a single data platform to improve data quality and enable real-time decision making across multiple systems. Intelie Live enables visualizations for internal teams to provide real-time operating status across a wide range of equipment type and configurations.

“BP’s selection of Intelie Live is based on Intelie’s ability to quickly implement the platform to meet BP’s requirements,” said Steven Pickett, Chief Executive Officer and President of RigNet. “Intelie’s experience in the Energy sector has helped companies like BP accelerate their digital transformation journey.”

About RigNet, Inc.:

RigNet (NASDAQ: RNET) delivers advanced software 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.