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Leading Bakken Producer Turns to Cold Bore SmartPAD to Digitize Completion Operations

January 22, 2020 GMT

CALGARY, Alberta--(BUSINESS WIRE)--Jan 22, 2020--

Cold Bore Technology Inc. (“Cold Bore”), a leader in fracking completion optimization technology, announced today that one of the largest oil producers in North Dakota’s Bakken Formation has integrated the company’s proprietary SmartPAD technology.

The SmartPAD platform allows for ultra high-resolution operations data to be captured, analyzed and acted on in real-time. This results in higher levels of efficiency, increased transparency and a safer onsite environment for workers.

Although it is currently deployed with fracking operators throughout North America, including six of the top 10 producers, these represent the first integrations of the platform in the Bakken region.

“We’ve seen interest in our SmartPAD technology grow exponentially in the last 12 months and I’m very pleased to now have our first integrations in the Bakken which is the third largest U.S. shale oil field, behind Texas’ Permian,” said Brett Chell, President at Cold Bore. “We do expect further producers in the region to begin integrating the technology over the coming months as field results demonstrate the significant value of having real-time access to ultra high-resolution data.”

Benefits of SmartPAD integration for producers include:

How it works

Cold Bore’s patented SmartPAD uses a combination of valve positioning, pressure monitoring sensors, field data collection systems and proprietary software to fully digitize completions operations.

The monitored data sets drive an automated algorithm that tracks and records the start and completion of each activity carried out by multiple onsite service vendors - including frac, wireline, pump down and several others - down to the second. The real-time data can then be remotely accessed by those monitoring operations from anywhere in the world.

About Cold Bore

Cold Bore Technology Inc. (“Cold Bore”) is a global leader in completion optimization technology, developing the first Completions Operating System through Cold Bore’s SmartPAD service.

For more information, please visit - https://www.coldboretechnology.com/

View source version on businesswire.com:https://www.businesswire.com/news/home/20200122005353/en/

CONTACT: For media enquiries or interviews, please contact:

Josh Stanbury

josh@sjspr.co

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ENERGY OIL/GAS

SOURCE: Cold Bore Technology Inc.

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PUB: 01/22/2020 10:00 AM/DISC: 01/22/2020 10:01 AM

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