News - August 3, 2021
Cold Bore Technology Closes $14 Million Financing
“The oil and gas industry has realized that technological innovation is key to meeting growing calls for reduced emissions and improved returns. Cold Bore is proud to be playing a leadership role in the future of oil and gas operations,” Brett Chell, co-founder and president at Cold Bore Technology, said.“As we scale to meet incredible demand, we’re excited to have a strong strategic partner in bp, a forward-thinking international energy company, and to play a part in helping bp reach its carbon and operational targets. We believe the caliber of our customers and investors demonstrates the market opportunity before us. The future of the oil and gas industry is autonomous operations,” Brett added. Read More
News - August 3, 2021
Cold Bore Technology Closes $14M Financing
Cold Bore Technology 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 is leading a major shift in the completions (fracing) industry towards safer, more autonomous operations by providing oil & gas companies (operators) with a centralized digital platform called SmartPAD. SmartPAD is an end-to-end, fully integrated software and hardware platform designed to collect, analyze, and report data which would otherwise be underutilized. Better utilization of this data unlocks operators’ ability to make step-change improvements across all key performance indicators.
SmartPAD deployments are on pace to exceed 100% year-on-year growth in 2021, as more and more operators recognize Cold Bore as a key enabler for keeping workers safe and meeting heightened ESG commitments.
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News - July 20, 2021
The Crude Life Podcast – Work Hard Play Hard with Guest Brett Chell
Brett Chell, CEO of Cold Bore Technology recently joined Jason Spiess on The Crude Life's - Play Hard Work Hard PodcastBrett gives an overview of what Cold Bore Technology is and does and the two discuss how all the moving parts on a well pad is very similar to a small city.
Brett explains how Cold Bore's technology allows the different parts of the well site to communicate in real-time creating opportunities for savings and efficiencies.
The authenticity of ESG and technology are discussed in detail. Whether companies have those services and/or behaviours or whether they are just a product of a brainstorming session with a marketing team.
Brett also explains how understanding your business’ intentions is critical when integrated technology due to the seemingly unlimited potentials involved. Read More
News - July 20, 2021
HartEnergy E&P – How Digitization Can Reduce Hydraulic Fracturing’s Environmental Impact
The digitization of well completions can help operators understand their emissions profile and optimize operations.With the digitization of well completions, sensors at the wellhead provide automated data that is captured in real-time by IIOT sensor-driven software. These data, from upward of six to 10 different service companies, are formatted and time-stamped, providing an accurate, verifiable operational time series. The fully autonomous system is visible and accessible.
Efficiencies gained from this automation allow faster completions, meaning less time on the pad and a collateral reduction in greenhouse-gas emissions from those completions. For example, with a completions master control system, Hibernia was able to shave 15 days off of a four-pad program. That is a 15-day reduction in the amount of time that diesel or natural gas burning assets (i.e., fracturing pumps) are working on site. That is a quantifiable reduction in emissions. Read More
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