WellDog Receives Additional Funding
WellDog, a Laramie, Wyoming-based developer of chemical sensing technologies for natural gas exploration and production, has closed $6.5 million in new funding to expand its delivery of services and new product development. Three new investors, Axiom Venture Partners, Kozel Energy, and Yellowstone Energy Ventures, joined existing investors EnerTech Capital and Prospector Equity Capital to complete the investment round.
"We are delighted to become part of the WellDog team," said Will Wilcoxson, partner at Axiom. "We like to work with experienced management. They are industry insiders who understand the needs of the unconventional natural gas marketplace."
WellDog’s current line of services uses their patented downhole laser-based instrument to measure key reservoir properties in coalbed natural gas wells. This information is then transmitted via satellite to the company’s data center for real-time analysis.
WellDog has concentrated service delivery primarily in the Powder River Basin in Wyoming. With the new funding, the company plans to expand into additional basins in the US and Canada.
- Welldog Bags $27.3M Contracts with CSG Operators in Australia (Apr 21)
- WellDog, Silixa Join Forces to Develop New O&G Technical Solutions (Sep 18)
- Schofield and Blanchard Join WellDog's Management Team (Nov 16)