Solaris Oilfield Infrastructure Announces Collaboration with Amazon Web Services to Develop Data Analytics and Machine Learning Platform
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) (“Solaris” or the ”Company”) announced a collaboration with Amazon Web Services, Inc. (AWS) to provide its customers greater insights into oilfield data, including materials and storage usage, trend analysis, equipment and performance analytics, and predictive maintenance features.
Solaris believes a data platform that can both process the record levels of data being generated by operators and oil service companies today and allow customization of data capture and display will give its customers a valuable tool for analysis and data interpretation. The resulting data analytics could be used to drive improvements in safety, efficiency and ultimately lower well costs.
In order to provide these individualized data solutions for its customers, Solaris leveraged multiple AWS analytics capabilities including Amazon Timestream, Amazon Kinesis, Amazon QuickSight, Amazon Athena, and Amazon SageMaker, AWS’s machine learning service that enables data scientists and developers to build, train, and deploy machine learning models quickly.
“We are pleased to work with Solaris, a leader in designing, manufacturing, and renting equipment to energy companies in the US,” Greg Pearson, Vice President, Worldwide Commercial Sales at Amazon Web Services, Inc. “Solaris sees the AWS Cloud as a strategic platform that helps offer increased functionality and lower costs, and transforms complex business and operational systems to enable a more sustainable energy future. By running on AWS, Solaris can use a wide portfolio of capabilities such as analytics and machine learning services to gain better visibility into inventory to reduce waste and proactively identify issues before they happen, which is crucial for energy supply chain optimization.”
“Our customers continue to focus on increasing operational efficiencies in order to maximize cash flow. We firmly believe that innovative data analytics will be a key driver in generating sustainable and quantifiable efficiencies for our customers. Through the use of data analytics and software, our end goal is to leverage machine learning to further automate processes, utilize predictive maintenance, and essentially do more with less, and AWS is helping us accomplish this,” Solaris’ Chairman and Chief Executive Officer Bill Zartler commented.
About Solaris Oilfield Infrastructure, Inc.
Solaris Oilfield Infrastructure, Inc. (NYSE:SOI) manufactures and rents mobile equipment that drives supply chain and execution efficiencies in the completion of oil and natural gas wells. Solaris’ patented mobile proppant and chemical systems are deployed in many of the most active oil and natural gas basins in the United States. Additional information is available on our website, www.solarisoilfield.com.
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