Cold Bore Technology Inc., a leader in completion optimization technology, said Jan. 29 that it had finalized new deals with two leading energy producers based in Western Texas’ Permian Basin and completed installation of its SmartPAD completions operating system.
The contracts represent the latest in a growing number of SmartPAD installations with major operators across North American fields over the past 12 months.
The SmartPAD is the industry’s first platform able to deliver real-time, sensor-driven tracking of ultra high-resolution fracking operations data with analytics. Using a combination of valve positioning, pressure monitoring sensors, field data collection systems and proprietary software, it is able to fully digitize completions operations.
“We’re continuing to see exceptional appetite for our technology with operators from the Texan Permian to BC’s Montney region,” Brett Chell, president at Cold Bore, said. “The type of high resolution data we’re able to provide allows operators to see exactly what is happening on location in real time. Having a single source of truth for operations data via the SmartPAD also helps strengthen communications between each of the onsite services which leads to safer and more efficient production with less downtime.”
Hunting Plc, the international energy services group, has completed the acquisition of Enpro Subsea Ltd. on Feb. 21 for a total consideration of $33 million payable on completion, plus a potential maximum earn out of $3 million based on EBITDA performance in 2020.
Siemens was awarded a contract by Arabian Drilling Co. on Feb. 19 to modernize a complete and integrated drilling-drives lineup, including auxiliaries and controls, which will be installed on an offshore jackup drilling rig for a customer in the Middle East.
Quorum CEO Gene Austin said he expects the company’s latest acquisition of Denver-based EnergyIQ will help E&Ps fully capitalize on data to operate leaner and with greater confidence.