David Forsberg, CFA- Managing Partner, and Michael Tanner, Host of the 360 Digital Closing Bell, were able to sit down and visit about the Ascent Energy Ventures history in finance, energy, and tech. They are focused on the next generation  energy tech investments. The oil and gas space is in a crisis, and fighting to cut costs and raise efficiencies.  

"Energy Tech catting, or wildcatting, in technology companies" is focusing capital into the next generation companies using technology and efficiencies to bring more profits to the  investors. With the finance background in the oil and gas markets in past market crisis, has helped provide the guidance and knowledge for performance in the current market.

The technical companies that we look for can start at the SCADA, and lead on to the data modeling. Data coming from the oil patch is not the cleanest, and there is a demand for products and data scrubbing to help fill in the gaps in existing business systems. 

The key takeaways are listed below

Key Takeaways:

  • 80% of the data analyst employee positions are just cleaning and scrubbing the data. 
  • Automated rig projects - Automation of the hammer is the toughest part of the total automated rig. - There are companies looking at that portion.
  • Quantitative investment decisions requires detailed transnational down to the granular level. Automation of the data and models will take the expertise to get granular data level.
  • There is  a shift from Wildcatting oil drilling to the cost saving methods using technology. Having a group with the finance, and technical backgrounds is important as a knowledge base. 

About Ascent Energy Ventures:

Ascent Energy Ventures is a venture fund focused on investments with innovative leaders imagining a more automated and digital energy industry.

David Forsberg, CFA- Managing Partner

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