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Press release content from Business Wire. The AP news staff was not involved in its creation.

Cold Bore Technology Closes Deals & Installs SmartPAD Completions Technology with Two New Permian Fracking Operators

January 29, 2020 GMT

CALGARY, Alberta--(BUSINESS WIRE)--Jan 29, 2020--

Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology, announced today 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.” said Brett Chell, President at Cold Bore. “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.

Results from ongoing deployments of the SmartPAD demonstrate significant improvements for operators across several key areas including;

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/

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SOURCE: Cold Bore Technology Inc.

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PUB: 01/29/2020 10:00 AM/DISC: 01/29/2020 10:01 AM