Hunter Technology is launching their OilEx platform, which is powered by blockchain technology and designed to support end-to-end process flow for physical oil transactions from deal discovery, negotiation, contracts, and to the settlement.
Through this partnership, WellDatabase data across the USA and Canada will be technically integrated to make the platform more robust allowing producers to claim their production sites and easily access their data to build out their profile. This will provide the critical link to connect the value chain between producers, buyers, and traders.
The availability of deeper data will streamline and enhance the ability of producers to offer their product and for buyers to improve the discovery of attractive transaction opportunities in a visual map-based interface on OilEx, leading to higher transaction volumes. The resulting real-world benefits are optimized prices, simpler processes, improved transparency, and the support of environmental responsibility, all while documented in the blockchain.
Data has become a necessity in our industry. We are proud to partner with innovative tech companies, like Hunter, to collectively deliver better resources and results to the oil and gas industry for superior mapping, analytics, and data management.John Ferrell, Co-Founder and CEO, WellDatabase
This is an important development milestone for OilEx in capitalizing on independent oil producers moving away from manual and offline transactions to data-enriched and streamlined digital processes. WellDatabase, having a proven model, provides us with the leverage to enrich available data and make it accessible and useful for independent producers on the platform. This is the beginning of a fruitful partnership with great shared innovation potential.Dr. Florian M Spiegl, CEO, Hunter
When we partner with companies the goal is to bring innovation and value to the industry by efficient, transparent, and need based technology. This is another example of that, stay tuned to learn more.
Start your trial today at welldatabase.com to find a better way to access and work with oil and gas data. You can start for free and you can learn more about all of our other plans and features here. To learn more about Hunter or to contact their team, go to their website – huntertechnology.com.