Revonos aims to boost its clients’ efficiency with its new Limitless Delivery product.
It is an accepted fact that people like deliveries to be completed on time and on schedule, but sometimes things do not always go as planned. Castle Rock, Colo.-based Revonos is set to help its clients achieve those goals with its Limitless Delivery product, CEO Wesley Dyk says.
“That particular tool is built to find efficiencies and help an operator achieve peak efficiency hauling liquids to delivery points,” he describes. “It can also be used by a carrier to schedule their individual truck routes [as well as] which truck and what time to perform these pick-ups and deliveries.”
Dyk co-founded Revonos in 2012, but notes that he has an extensive background and family heritage in the oil and gas industry. “My father was a petroleum engineer,” he says, noting that he has siblings, uncles and cousins that work in the business as well.
He started his career at Tom Brown Inc. in 1999, before eventually joining Noble Energy. It was there that he met the partner who helped him start Revonos, Michael C. Maguire. “We had an idea for a piece of technology that we wanted to pursue,” Dyk recalls.
The two left Noble Energy in 2016 to pursue Revonos full time. “We started looking at doing analytics for oil, gas and other industrial clients,” Dyk recalls, noting that its initial offering was its Limitless Well analytics tool, which standardizes public oil and gas well data.
It also adds analytic metrics that helps make searching and analyzing well header, completion, performance and production data more efficient. Since Dyk’s partner has left Revonos, he has continued to sell Limitless Well, but has primarily focused on operations research-based tools and services for exploration and production operators.
This led to the development of Limitless Delivery, which Dyk plans to launch this January. The tool, he notes, has a goal of automating the dispatch process. “From an operator’s perspective, dispatch could be deciding when and where to pick up loads,” he describes.
Today, Revonos serves a customer base that includes AcoustiFLO, a Boulder, Colo.-based provider of fans for industrial and commercial applications. “I’ve built a product for them for their fan selection,” Dyk says.
The company also serves Antero Resources, which has been working with Revonos on a water logistics project that involves the custom implementation of a Limitless Delivery model. “We will resume the project after all parties are back in the United States, around late first quarter of 2019,” he predicts.
Antero, he notes, has been pleased with the system that Revonos provided. When presented with it, “They were surprised at how thoroughly the product considered hauling and made decisions,” Dyk says.
He adds that Northwoods Energy LLC is currently evaluating the use of Limitless Delivery for its water hauling dispatch operations, while Axia Energy II LLC is looking at it for its oil hauling. But already, Revonos has provided savings in the operations research space by helping clients directly control their expenses for hauling.
The company has done this, he explains, by helping ensure pickups and deliveries are made as efficiently as possible. “That’s something that throughout my career I’ve been able to realize,” he says.
“With my former employer, I was able to realize gains of 80 percent efficiency,” he recalls, adding that he has been able to help Revonos’ clients achieve gains of 15 percent. “That can go directly against their operating expenses for their leases, [and] also their general expenses with personnel and the time they spend making these decisions.”
There is a strong opportunity for Revonos in the current market, Dyk says. Both the market fluctuation of oil and gas prices and the reactive nature of the industry have “not provided for the most efficient use of capital,” he says.
“What Revonos can do is help operators to be able to achieve more during downturns,” he says, adding that it also can help clients earn higher profits during upswings. “The current fluctuations have allowed operators to achieve such benefits.”
Although BP America has started to implement models and techniques similar to those that Dyk offers, Revonos offers more distinct advantages. These include enabling operators to avoid making significant investments in human capital.
“What our systems allow them to do is implement the models without having to make that large investment that’s required to be able to do that in house,” he says, noting that some companies require an entire internal team for their systems.
“We would be able to bring it to operators that don’t know how to make that step,” he says, “or just feel like their capital is better used for the oil and gas development.”
After all these years, Dyk has enjoyed his time in the oil and gas industry. The business has allowed him to form many relationships that have endured over the years.
“Even when former co-workers move onto other companies, relationships are maintained and I really enjoy that,” he says, explaining that this allows him to reach out to a network of people and get feedback.
Dyk also finds satisfaction from the engineering aspects of the work itself. “All of the vast array of engineering applications are fascinating, and a great target for the operations research techniques that I know,” he says.
A Limitless Future
For the next year, Dyk says, Revonos will be focused on getting Limitless Delivery into general availability. “If I can prove out the marketability [of it], I can either invest more of my own money but also look for other investors to help the growth of the company,” he says.
Moving forward, he adds, the company will need to address the misconception that an e-ticketing platform will achieve the same results as its system. “In fact, what Limitless Delivery will do is it will work alongside an e-ticketing platform,” Dyk asserts.
He adds that the system also allows the e-ticketing platform to do what it does best: communicate the history of those hauls. “Limitless Delivery is about the beginning and execution of those hauls,” he notes.
After that goal has been achieved, Dyk says he has another idea for a product that will also help operators best plan for their field development. “When Limitless Delivery is in more of a maintenance mode, I’d like to pursue that,” he says.
Dyk has plans for other potential products to pursue. “I would also really like to grow the company and become a common name in operational efficiency,” he adds.
Limitless Delivery can reduce users headaches by offering a solution “to achieving peak delivery efficiency,” Revonos says, adding that its objectives include:
*Minimizing short loads to full utilize hauling capacity;
*Delivering on market commitments;
*Staying within handling capacity;
*The minimization of final delivery cost through mileage and hours reduction; and
*Maximizing flow assurance.
Its features include a dispatch user interface that automatically adapts to a user’s needs, as well as a dispatch process that can be automated. Limitless Delivery also can display decisions that will deliver optimal results and can choose destinations regarding total capacities and commitments.