Chevron Technology Ventures backs Calgary-based pipeline inspection innovator

A Calgary-based technology company whose Pipers technology is dedicated to the pipeline inspection industry. Company established new goals to reduce net greenhouse gas (GHG) emission intensity. Chevron and Microsoft announced the industry’s first three-party collaboration. Company announced it raised growth capital from Energy Innovation Capital and Chevron Technology Ventures. Company announced the sanction of a waterflood project in the St. Malo field. Chevron U.S.A. Inc. announced it will donate $500,000 to help support local public schools in select cities.

Inchausti will lead Chevron’s accounting, financial reporting and analysis, internal controls. The funding round will enable INGU to grow its team, scale its data collection platform and analysis. Chevron Corporation announced that it has completed the acquisition from Petrobras America Inc. provided an overview of the company’s 2018 operational performance. Company launched Fund VII, a new $90 million fund established to sustain Chevron’s continued venture capital investment. Company accelerate creation of innovative petrotechnical and digital technologies.

Company expand its global presence. The Supreme Court of Canada has rejected a request to review a decision of the Court of Appeal for Ontario. It will report to Pierre Breber, Chevron’s vice president and chief financial officer. It leading to increased performance and safety while reducing costs. The donation will be applied to help fund eligible classroom projects posted on DonorsChoose.org. The company earned $14.8 billion last year, compared with $9.2 billion in 2017. Company excited to support INGU in scaling the business globally.

George Coyle, Managing Partner at Energy Innovation Capital says “Pipers provide the oil and gas industry invaluable insights in their pipeline assets”.

The application is enabling technology is expected to increase recovery and advance Chevron’s strategy. PRSI’s 466-acre complex in Pasadena, Texas, adds a second refinery to CUSA’s Gulf Coast downstream business. In the first quarter of this year, Chevron’s oil-equivalent production of 3.04 million barrels per day. Ben Abadi, a Managing Director at Energy Innovation Capital, joined the INGU board of directors in connection with the transaction. Dave’s breadth of experience, including his most recent role as our deputy comptroller, has prepared him well.

Launched in 2018, INGU’s Pipers technology is a pipeline screening tool that detects leaks, geometric defects. The acquisition builds on the strength of our existing Gulf Coast business. Chevron expects to increase oil and natural gas production by 4 to 7 percent in 2019. The Court of Appeal for Ontario’s decision, which is now final. The company has repositioned itself to deliver sustained value for investors. The company intends to lower upstream oil net GHG emission intensity by 5 – 10 percent. The unique self-service business model reduces inspection costs while strengthening preventive maintenance.

It held a number of operational and corporate finance positions around the world. The strong portfolio of attractive investments is driving production and cash flow growth. Fund VII investments will focus on high-tech, high-growth startups and breakthrough technologies. Chevron Corporation has never had any assets in Ecuador, the plaintiffs, led by adjudicated racketeer. INGU enables integrity assessment in unpiggable pipelines, while disrupting alternatives costing an order. Chevron has made changes to the program to better serve this affected area.

Chevron’s core oil and gas business performance as well as create new opportunities for growth. It has no assets in Canada, and Chevron Canada Limited, which was not a party to the Ecuadorian lawsuit. The St. Malo field is a world-class asset that is positioned for highly economic brownfield development. Prior to the current role, Inchausti served as comptroller for Chevron’s Upstream organization. It magnitude more in other pipelines. It’s enabling to supply more of retail market in the region with Chevron-produced products.

It have screened well over 100 operational pipelines for more than 30 operators. It positions for connectivity to strong upstream assets in the Permian Basin. Company have a sustainable portfolio underpinned by high-quality resources and strong reserve replacement. CTV serves as an excellent source within Chevron for new business models. Clients are excited and are already starting to integrate Pipers into their integrity programs. Company expect to grow production with a disciplined and ratable capital program.

“We went from trials to commercial release in 18 months, and not even two years later”, John van Pol, CEO of INGU said.

It fortunate that investors share vision for the future, bringing with them a strategic network. Chevron will not base the program’s funding in select cities and neighborhoods of the Greater Houston area. The Pasadena refinery has the capacity to process approximately 110,000 barrels per day of light crude. The industry expertise to help us deliver results and scale fast enough to meet market demand. Texaco Petroleum Company, finding that the Republic of Ecuador. INGU has received global recognition throughout the years.

In 2019 INGU was recognized as an Innovation Pioneer by CERAWeek, selected by Forbes as one of the 19 Innovative Tech Startups. Chevron’s first financial priority continues to be maintaining and growing its dividend. INGU was also among the first companies participating in Chevron’s Catalyst program. It using venture capital as a conduit for early access to innovation. The Catalyst Program was started by Chevron Technology Ventures to accelerate the development of early-stage companies. This month also marks the 20th anniversary of CTV’s founding. Company working on technologies that can directly benefit the energy industry.

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