PRNewswire Austin, TX — Mesquite Technologies Inc. and OspreyData Inc. have today announced that Mesquite Technologies has acquired OspreyData, an artificial lift production optimization software company. The acquisition complements the product offering from Mesquite Technologies, which is a leader in engineered artificial lift production equipment and service.
"Operators seek integrated and intelligent solutions to improve safety and oil production output," said Joe Navar, CEO of Mesquite Technologies. "When we demonstrated potential capital returns achieved by incorporating the combined Osprey platform and our highly engineered equipment into producing fields, operators were ecstatic. We closed the acquisition and got to work."
Mesquite Technologies plans to incorporate OspreyData into the Taproot product line which combines machine learning with intelligent control equipment intended to improve safety, production output, and profitability for oilfields in artificial lift production.
"Our advanced production optimization software will now have a more comprehensive intelligent control capability integrated with hardware on Mesquite Technologies well site equipment with remote operational capabilities that help producers avoid downtime and manage wells more effectively," said Ed Cowsar, CEO of OspreyData.
Organizational integration and product development shall be accelerated through an investment round led by Houston Ventures.