Insight certainty 3/5 debate potential 2/5

Factor Technology requires high-touch onboarding to change user workflows

Hugh Winkler · 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's · Aug 29, 2023 · at 14:52

Hugh Winkler, founder of Factor Technology, discusses customer acquisition and why his vertical oiltech software requires direct coaching over self-service trials.

0:00 / 0:33exact quote · 33.5s
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“I think that our software requires a sort of a change of workflow for a lot of these consultancies. So they need a high touch experience with us. And so far we're really, you know, one thing I would say the arm's length approach is not giving us that ability to go in and coach them. And bring them along. So I think we lose customers through not understanding how to use the software.”

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More from Hugh Winkler

Prediction Open · timeframe Aug 2028
Winkler predicts all oil geosteering will be automated within five years
“But I think it'll eventually prevail so that in five years, nobody, nobody's manually doing GPS during the old way. They might be, might not be using hard software, but I think in five years, people will all be doing it in this computed automated fashion. That…”
Hugh Winkler Aug 29, 2023 ▶ 12:01 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's
Disclosure
Factor Technology has one top-ten US company and several consultancies as clients
“So we, we've got one top 10 US company Using the software and several smaller consultancies.”
Hugh Winkler Aug 29, 2023 ▶ 6:00 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's
Disclosure
Winkler: Factor Technology charges credit card users $90 per day
“Well, yeah, it's like, well, it's 90 dollars a day, but it's.”
Hugh Winkler Aug 29, 2023 ▶ 9:30 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's
Assertion Supported
Winkler: Texas oil wells require hydraulic fracturing because gushers are gone
“The kind of formations they're producing in Texas mostly now are no longer the rich flowing ones, you know, with gushers. That doesn't happen much anymore. What happens now is that they have to They have a little trickle coming in after, and only after they fr…”
Hugh Winkler Aug 29, 2023 ▶ 4:56 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's
Assertion Supported
Winkler: Major oil operators historically outsource overnight geosteering monitoring
“So a lot of these big companies outsource this function because it's a person has to stay up all night watching screens and they don't like to do it themselves. So they outsource the job to workers. You know, who work in shifts, watch the screens, take the mea…”
Hugh Winkler Aug 29, 2023 ▶ 6:14 6 Oil Drilling Companies Pay Him to Map Hard to Quantify Oil Well Pay Zone's
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