About MagVAR
MagVAR is an Energy & Utilities company based in Denver (United States) founded in 2010 by Stefan Maus, and was acquired by Helmerich & Payne in December 2017. Solutions for well directional drilling are provided by MagVAR. The company has 17 employees. MagVAR offers products and services including FlexRig, Drilling Automation, and AutoSlide. Its focus areas include Energy Tech, Oil & Gas Tech, Upstream and Downhole. Its legal entity is MAGNETIC VARIATION SERVICES LLC. Its competitors include Ulterra, Motive Drilling and Scientific Drilling; 1 of its 3 listed competitors has raised funding.
Company details
MagVAR was founded in 2010 and is headquartered in Denver, United States. Operations focus on the oil and gas sector, where solutions for directional drilling are delivered. In-Field Referencing (IFR) is offered to enhance well placement accuracy through a 3D geomagnetic reference model. Real-time steering is supported by this model, aiding precise navigation in drilling activities across various geographic regions.
- Headquarters Denver, United States
- Employees 17
- Founders Stefan Maus
- Stage Acquired
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website magvar.com
- Social LinkedIn X Facebook Instagram
- Acquired by Helmerich & Payne (Dec 2017)
- Legal Name Magnetic Variation Services Llc
- Investors
- Employee Count17
- Acquired byHelmerich & Payne
(Dec 2017)
Products & Services of MagVAR
MagVAR offers a comprehensive portfolio of products and services, including FlexRig, Drilling Automation, and AutoSlide.
Automated fleet for efficient oil and gas drilling operations
Systems to automate drilling and improve reservoir outcomes
Technology for precise wellbore placement and execution
Investors in MagVAR
MagVAR has secured backing from 1 investor. Prominent investors backing the company include H&P.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
H&P is recognized as a global leader in drilling efficiency. | hpinc.com | Tulsa, United States |
Investor details for MagVAR
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of MagVAR
1 people are tracked at MagVAR (1 in leadership); the tracked headcount is 17.
| Name | Role | Group |
|---|---|---|
Stefan Maus | Founder | Leadership |
Complete people profiles for MagVAR
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- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Timeline of MagVAR
2 dated milestones of MagVAR across 7 years, from founding to its latest funding, stage changes and deals.
- Founded MagVAR is founded.
- Exit Acquired by Helmerich & Payne.
Competitors of MagVAR
MagVAR has 3 listed competitors in our database, 1 of them funded. They include Ulterra, Motive Drilling and Scientific Drilling.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ulterra.com | 2005 | Fort Worth, United States | 294 | Manufacturer of polycrystalline diamond compact drill bits | ||
| motivedrilling.com | 2015 | Dallas, United States | $10.5M | Machine intelligence is utilized for real-time directional drilling guidance. | ||
| scientificdrilling.com | 1969 | Houston, United States | 1,098 | Offers drilling motors, MWD systems, and wellbore surveying for energy sector. |
Detailed competitors of MagVAR
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- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
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Web traffic of MagVAR
The website of MagVAR (magvar.com) receives about 1.2K visits a month.
- Monthly visits1.2K
▼ 14.4% vs previous month
Top companies in Oil & Gas Technology Solutions
3 companies that operate in the same segment as MagVAR (Oil & Gas Technology Solutions) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
AI-based software for manufacturing process optimization is offered. | 1981 | Bedford, United States | USD 100 M | USD 5.21 M | 64 | |
Cloud infrastructure and AI-optimized data centers are provided. | 2018 | Denver, Colorado, United States | USD 6.67 B | 1,820 | ||
AI-driven urban datasets and analysis tools are offered by Urbint. | 2015 | New York, New York, United States | USD 130.08 M |
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Frequently Asked Questions about MagVAR
MagVAR was founded in 2010.
MagVAR is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
MagVAR has 17 employees.
MagVAR was founded in 2010 and is headquartered in Denver, United States. Operations focus on the oil and gas sector, where solutions for directional drilling are delivered. In-Field Referencing (IFR) is offered to enhance well placement accuracy through a 3D geomagnetic reference model. Real-time steering is supported by this model, aiding precise navigation in drilling activities across various geographic regions.
MagVAR's top competitors include Ulterra, Motive Drilling and Scientific Drilling.
MagVAR offers FlexRig, Drilling Automation, and AutoSlide.
MagVAR has 1 investor. Key investors include H&P.
MagVAR operates through Magnetic Variation Services Llc.
Yes. MagVAR was acquired by Helmerich & Payne in December 2017.