Solaris Oilfield Infrastructure, Inc. ( SOI Quick Quote SOI - Free Report) announced a partnership with Amazon Web Services, Inc. (“AWS”), a subsidiary of Amazon.com, Inc. ( AMZN Quick Quote AMZN - Free Report) , to shed light on oilfield data for its customers to gain insight on equipment performance and use it to predict issues.
The oilfield data comprises materials and storage usage, trend analysis, equipment and performance analytics, and predictive maintenance features.
The cloud-based data platform, which can analyze unprecedented levels of data created by operators and oilfield service providers as well as enable customization of data capture and display, is expected to serve as a useful tool for analysis and data interpretation for customers. As a result, the data analytics platform is likely to improve security measures, efficiency and eventually reduce costs of wells.
Further, the company leveraged several AWS analytics capabilities to deliver these personalized data solutions to provide flexibility to customers. Amazon Timestream, Amazon Kinesis, Amazon QuickSight, Amazon Athena, Amazon SageMaker and AWS’s machine learning service aid data scientists and developers to build, train and deploy machine-learning algorithms swiftly and efficiently.
Solaris believes that AWS Cloud will offer increased efficacy as well as lower expenditure. The platform will remodel complex business and operating systems for a more sustainable energy future. With the application of AWS, the Houston-based company will utilize a complete portfolio of capabilities such as analytics and machine-learning services to obtain greater insights into inventory to reduce waste and prevent issues from happening.
Notably, the innovative data analytics tool is a major factor to generate sustainable and quantifiable efficiencies for customers to maximize cash flows. Through its use, Solaris aims to leverage machine learning to further automate processes, apply predictive maintenance and achieve more at lesser costs.
Company Profile & Price Performance
Headquartered in Houston, TX, Solaris is an independent oilfield service provider. The company’s shares have outperformed the
industry in the past month. Its shares have gained 19.1% compared with the industry’s 7.9% growth.
Zacks Rank & Stocks to Consider
Solaris currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are
Summit Midstream Partners, LP ( SMLP Quick Quote SMLP - Free Report) and DCP Midstream Partners LP ( DCP Quick Quote DCP - Free Report) , eachsporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here .
Over the past 60 days, the Zacks Consensus Estimate for Summit Midstream’s 2020 earnings has been raised by 25.9%.
DCP Midstream is expected to see earnings growth of 199.5% in 2021.
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