Well Conveyor

About us

Well Conveyor’s mission is simplifying access to challenging wells everywhere.

Our conveyance solutions will get your sensing cables, logging and light intervention tools to the bottom of your horizontal well, or as our slogan goes – ‘Tow-to-toe’.

History

2015-17

Well Conveyor was founded in 2015 by Kenneth Fuglestad to pursue the development of a novel downhole tractor that would be more cost-effective, slimmer, simpler to operate and more power efficient than existing offerings, allowing for the utilization of downhole battery power. Early support came from angel investors, the Research Council of Norway and Innovation Norway, which took the company through the concept, feasibility and early development phases for the Conveyor.

2018

ProVenture and Investinor invested in the company early 2018, and Chevron Technology Ventures (CTV) invited Well Conveyor to participate in its Catalyst Program, created to support early-stage companies advancing cutting-edge technologies that can directly benefit the oil and gas industry.

2019

Well Conveyor received equity investment from CTV, combined with additional investments from existing investors ProVenture. The money from this financing round will support the qualification and commercialization phases for the company’s innovative Slim Battery-powered Conveyor. Well Conveyor opened its US office in Houston in September in preparation for first field trial jobs at the end of the year.

The team

Acting CEO

Børge Kolstad

CTO

Kenneth Fuglestad

CFO

Louis Vos

North America Manager

Arthur H Gibson

Principle electronic system engineer

William Brown-Kerr

Senior design engineer – mechanical

Petter Guttormsen

Senior design engineer – electronics

Dimo Dimov

Sales and marketing consultant

Alan Piesse

Executive Advisor

Jan Vader

The board

Chairman of the Board

Børge Kolstad

Board Member

Fredrik Hvistendahl

Board Member

Sylvi Saure Finsrud

Board Member

Kenneth Fuglestad

Board Observer

Luis Alcoser

Need help with cost-effective access to horizontal wells?

Please get in touch.

Well Conveyor AS, Org.no.: 915 773 516