WellDatabase on Oil and Gas Startups

10/30/23 • 37 min

This week, we sit down with John Ferrell, CEO and co-founder of WellDatabase, to unpack the wild ride of turning messy energy data into actionable insights. From trading the city hustle for the Montana mountains to tackling the challenges of selling top-notch, affordable solutions to enterprise giants, John shares the highs and lows of building a game-changing platform. We dig into the magic of clean, usable data, the balance between AI and good old-fashioned physics, and even how blockchain could shake up gas trading. With candid reflections on startups, funding, and the power of sticking to a vision, this episode is a must-listen for anyone curious about the future of energy and data.

https://welldatabase.com/
https://www.linkedin.com/in/johnferrellsr/

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00:00 - Overview of WellDatabase
08:44 - Changes in the Last 4 Years
09:45 - Breaking the "Do Everything" Mindset
12:48 - Selling Strategies for Enterprises
15:51 - Lessons Learned the Hard Way
17:04 - Benefits of Not Taking Capital
24:21 - Evolution of Vision Over the Years
25:35 - Defining the North Star for WellDatabase
27:32 - AI's Role in Oil and Gas Industry
31:03 - Importance of Data Transparency
33:10 - Challenges in Machine Learning Projects
35:41 - Where to Find John

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https://welldatabase.com/
https://www.linkedin.com/in/johnferrellsr/

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Previous Episode

Industrial Data Labs on Oil and Gas Startups

Get ready for an inside look at the intersection of AI and industrial markets with Marty Dytrych, co-founder of Industrial Data Labs. From his early days and a personal connection with our host to leading a startup that's making waves in the energy sector, Marty shares his journey and insights. We talk about the inefficiencies plaguing technical sales and sourcing, and how Industrial Data Labs is shaking things up—starting with the valve market. Marty opens up about why so many tech startups stumble in oil and gas, his bold strategy of putting distributors and manufacturers first, and how AI-driven automation could be the key to global competitiveness. This one’s for anyone curious about how innovation is reshaping the backbone of industrial markets.

https://www.linkedin.com/in/martydytrych/
https://www.linkedin.com/company/industrialdatalabs/

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00:00 - Catching up with Marty
03:30 - Industrial Data Labs Overview
09:18 - AI Applications in Industry
10:36 - Automating Data Capture
13:50 - Lessons Learned in Business Growth
21:10 - Traditional Sourcing Process Explained
24:38 - AI in Industrial Procurement
28:00 - Technology Implementation Challenges
30:37 - Starting AI Projects: Expert Advice
32:34 - The Need for an AI Consortium
36:35 - Future Plans for Biller Genie
39:20 - IDL Support for Manufacturers

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Next Episode

Midstream Holdings on Oil and Gas Startups

We're unpacking the world of midstream assets and the unique role Midstream Holdings plays in connecting buyers and sellers in this niche market. Think of it as a real estate marketplace—but for pipelines and facilities. We’ll dive into how Midstream Holdings is shaking up the traditional M&A approach with its platform, tackling the big issues like data protection and due diligence along the way. We’ll also get into why this kind of platform hasn’t existed until now, how midstream assets are valued, and what it takes to list or buy one. Plus, with new tech like EnergyX's XCloud and the potential for joint ventures, there’s no shortage of innovation and opportunity in the midstream space.

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Click here to view the episode transcript.

00:00 - Challenges in the Industry
05:39 - Valuing Midstream Assets
07:11 - Acquiring Existing Contracts
11:11 - Finding Buyers for Assets
18:12 - Hardest Challenges Faced
22:53 - Current Status Update
26:13 - Business Model Overview
28:13 - Discussion on Innovative Ideas
29:14 - Excitement for Future Developments
32:54 - Contact Information
34:19 - Conclusion and Outro

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