Aug 20, 2019

RigNet’s Intelie Delivers Machine Learning-Based Analytics for Advanced Drilling Operations

RigNet’s Intelie Live platform delivers higher productivity and improved financial performance

HOUSTON, Aug. 20, 2019 (GLOBE NEWSWIRE) -- RigNet (NASDAQ: RNET), the leading provider of ultra-secure, intelligent networking solutions, announced today that Ocyan, one of Brazil’s largest providers of solutions for the upstream oil and gas industry, has signed a multi-year agreement and selected Intelie Live, RigNet’s machine learning-based analytics platform, to be used at their Drilling and Marine Operational Support Center (CSD).  Ocyan’s system will use Intelie as an integrated monitoring system for the company's entire fleet of drilling rigs.

"With this system we are able to collect, monitor and process thousands of data points from multiple sources that will give us predictive insights to avoid operational issues, including preventing incidents and accidents while reducing maintenance costs, helping us save significant costs and ultimately improving performance," said Weverton Nazario, Performance Director. "The Intelie Live platform has helped us achieve our goal to have access to all available data in a fully integrated way. This helps us to respond quickly and have solutions ready for the day-to-day challenges we may face. We feel that innovations in artificial intelligence will benefit the oil and gas industry.”

With the implementation of the solution, CSD can monitor multiple systems including Maintenance, Security, Drilling / Managed Pressure Drilling (MPD), Well Control & Integrity, BOP, Power Management System (PMS) and Dynamic Positioning (DP), demonstrating the company's pioneering focus on innovative technological solutions in the oil and gas sector and part of their investment planned in the company's Digital Transformation Program.

“This integrated monitoring system combined with efficient big data analytics, machine learning and IoT solutions will also allow CBM implementation to increase critical equipment life cycle, development of a real-time Bow Tie to monitor the conditions of the mitigation barriers to prevent major accident hazards among other innovative solutions," said Rodrigo Chamusca, responsible for CSD and Digital Transformation at Ocyan Drilling Business Unit.

“We are excited to expand our presence in offshore drilling through this partnership with Ocyan using Intelie Live,” said Lelio Souza, Chief Executive Officer and Co-Founder of Intelie and Vice President of RigNet. “Intelie Live, our industry-leading machine learning analytics platform, expands real-time intelligence even further across the energy value chain, providing significant benefits. Working with customers like Ocyan allows us to continuously innovate, improve and expand the capabilities of Live. We’re also excited about developing Bow Tie, Intelie’s application to support Safety Barrier Management during Drilling Operations, for deployment with Ocyan.”

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.

About Ocyan:

Ocyan is a company with a sustainable attitude and knowledge to provide solutions for the offshore oil and gas industry in Brazil and abroad. Its main values are the security of the members and the operation, the partnership of trust with the clients, and the commitment to ethics and transparency. Ocyan also encourages diversity and inclusion inside and outside the company. In addition to providing offshore maintenance services, the company currently operates six drilling units, two PLSV (pipe laying support vessel) vessels and two FPSO (floating, production, storage and offloading) vessels...More information: www.ocyan-sa.com.

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.

For more information on RigNet, please visit www.rig.net. RigNet is a registered trademark of RigNet, Inc.

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.