Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology, announced today results from a partnership with Permian-based oil and gas producer, Hibernia Resources (Hibernia).

The digitization of well completions has created a network with boundless possibilities. With a well completions network, each party can likewise derive value where they want to.

The hydrocarbon industry was one sceptical of change but a trio of price crashes, a pandemic and a swing from negative oil prices to positive has made companies more open to change.

Cold Bore Technology Inc., the leader in frac completions automation and platform technology, today announced it has closed $14M in growth financing. The round was led by bp ventures with participation from the Canadian Business Growth Fund (CBGF). Existing investors include the Rice Investment Group (RIG), a $200M multi-strategy, energy sector investment fund. 

Cold Bore Technology has closed $14M in growth financing in a round that was led by bp ventures with participation from the Canadian Business Growth Fund (CBGF).

Digitization of well completions is the first step toward green, sustainable fracing operations.

Cold Bore Technology Inc., the leader in frac completions automation and platform technology, said on May 4 it has recorded growth in new customers, revenue, team size and technology infrastructure during first-quarter 2021.

For many completion companies and tool designers, 2020 had a silver lining. With fewer completions to support, service companies could devote more time and manpower to refining processes and generating new ideas.

By using Cold Bore Technology Inc.’s SmartPAD to gain visibility into its completion operations, Hibernia Resources III reduced non-pumping time from an average of 8.91 hours per day to 4.19 hours per day.

Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology and Houston-based Permian Basin oil and natural gas producer, Hibernia Resources III (Hibernia), announced today results from digitized completion operations during 2020.