Seven Lakes reports 10,000-12,000 users across 80,000 oil wells
Soumya Murthy · Oil SaaS! They Broke $7m, Can They Hit $10m This Year? · Apr 23, 2021 · at 13:14
Soumya Murthy, CCO of Seven Lakes Technologies, breaks down the scale and operational footprint of their SaaS platform for oil field operations.
0:00 / 0:16exact quote · 16.2s
720p mp4 · rendered on demand · StarZero watermark
“We have about 10,012 thousand plus users on our system, and I would approximate ah, wells somewhere closer to 80. 80,000 wells, maybe?”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Soumya Murthy
Seven Lakes sold $100M in cumulative services before pivoting to SaaS
“I know up until the point the company had sold Around hundred million dollars in services. So he had a course of years, right?”
Seven Lakes built its marketing team using an internal six-month upskilling program
“So what we did was, we created a six month program to say, look guys, you self enroll, you self exit. This is you saying you want to do this, right? Full agency. And you get creative ownership, front of board, executive coaching. These are folks taking on some…”
Murthy: ExxonMobil and ConocoPhillips Executives Shared Exclusive Intel With Seven Lakes
“The thing that I never saw coming that was Fabulous was in the trenches were executive level ExxonMobil, ConocoPhillips, giving us market knowledge that they weren't giving the competitors, helping us in deals, giving us competitive intelligence, being more pr…”
Upstream oil operations still rely on physical grease sheets for data
“They were using grease sheets and paper to be able to drive millions, if not billions of oil production data from the place of where the oil is produced to the office space. So your entire inventory and production and everything else is run on grease sheets an…”
Murthy: Oil Operators Must Prove Free Cash Flow and Operational Tech Efficiency
“So what the market is now saying to the industry is, Hey, look, You can't just do production. You need to show me free cashflow. You need to be able to demonstrate operational efficiency, which means what you can't just, when the oil price goes down, just, you…”