ML One (formerly ADL Completions)

ML One (formerly ADL Completions) is engaged in the production of equipment and multi-bore completion services.

History

2024: Attracting 50 million rubles of investments

The Moscow Seed Fund, together with a partner, invested 50 million rubles in the Russian oilfield service company ML One, of which 25 million was invested by the fund. This was announced on September 30, 2024 by representatives of the Moscow Seed Fund.

ml-1.com

The company plans to use the funds received for the purchase of materials and equipment, as well as for the formation of warehouse stocks. As conceived by ML One, this will ensure flexibility and efficiency in any changes in production programs, stability in the implementation of current contracts, and will also give the company the opportunity to allocate more resources for research and development activities.

"We see great potential in ML One's multi-borehole completion technology solutions. These developments can significantly improve production efficiency and profitability. The attracted investments will allow the company to increase production capacity and strengthen its position in the market, "said Oleg Teplov, General Director of the Moscow Venture Fund.

ML One is a Russian full-cycle oilfield service company specializing in the development and development of domestic multi-borehole completion technologies. The ML One complex of technological solutions allows you to create lateral branch barrels of various designs and functionality. Thus, the construction of multi-borehole wells increases the profitability of field development projects by increasing hydrocarbon production and optimizing investment.

"Multi-barrel completion is one of the final and highly risky phases of well construction, so the ML One team has no margin for error. Each company project is a task that requires maximum concentration and dedication. Therefore, for us, as for an innovative enterprise, it is extremely important to support the Moscow Government and the participation of the Fund, "said Alexander Kashlev, CEO of ML One.

As of the beginning of October 2024, ML One completed more than 260 works carried out with the active participation of subsoil users. The company produces a domestic product, starting from the design of the systems and ending with their production in the Russian Federation.

2021: Raising $7.3 million

In November 2021, it became known about investing $7.3 million in ML One. The main investor was the venture capital fund Runtech Ventures. ML One intends to spend the funds received to support international expansion, as well as the development of a new direction of technologies - integrated multi-shaft and multi-hole completion systems (MCD), including intelligent completion services, completion with multi-stage hydraulic fracturing.

According to the developers, the creation of several sidetracks using ML One solutions allows you to increase the area of ​ ​ the formation, increase the efficiency of developing hard-to-recover reserves, optimize the operating time of the drilling machine and reduce capital costs for the construction of upper sections and ground well infrastructure.

Russian developer of technologies for smart drilling of wells ML One raised $7.3 million

ML One claims that the share of imports of equipment for multi-shaft completion in the Russian market exceeds 90%, which negatively affects the level of profitability of the relevant projects in the short term and in the long term has a negative impact on the development of the Russian oil and gas industry as a whole. The use of the company's technologies will increase the share of import substitution with a corresponding decrease in investment and an increase in the profitability of projects, they are confident in ML One.

ML One has already become the second oilfield service project of Runtech Ventures. In 2020, the Fund invested in an international startup with the Russian founders of Perfobur, the total investment amounted to $9.3 million.^[1]

Among the customers of ML One are OAO Arcticgas, subsidiaries of PJSC Gazprom Neft, PJSC Rosneft. By November 2021, the company has built more than 80 multi-borehole wells and several projects are in operation.

2017: Founding of the company

LLC ML Van Solutions was founded in 2017. She offered the market a multi-shaft completion system, analogues of which, according to the Moscow Seed Fund, did not exist at that time.

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