CALGARY, Alberta--(BUSINESS WIRE)--Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology, announced today results from a year long partnership with a global energy producer.
The partnership saw Cold Bore’s proprietary SmartPAD™ technology installed on six pads located in Northern Alberta allowing ultra high-resolution operations data to be captured, analyzed and acted on in real-time.
During deployments in the Peace Region, the Montney Producer saw notable improvements across several key areas of operations including;
- Reduced well switch time
- Increased pad efficiency and reduced completion costs
- Identification of trapped pressure
- Identification of leaking valves
- Identification of hot zone wells
“We’re immensely pleased with the results we’ve seen so far in our stage-one roll out in the Montney.” said Brett Chell, President at Cold Bore. “The SmartPAD is providing an entirely new level of operational oversight and access to our partnered operators which is leading to optimized completions. This means higher levels of efficiency, increased transparency and a safer onsite environment for their teams.”
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.
Digitizing Analogue Completions Operations
Historically, completions data for all completion operations has been collected manually which has inevitably resulted in missing and/or severely compromised data streams that cannot be relied on to represent the precise chronological chain of onsite events. With onshore completions operations costing on average USD $5-10K per hour, it is critical for producers to account for every second of the operation and to understand what is occurring onsite, its precise duration, and its cause and effect.
About Cold Bore
Cold Bore Technology Inc. (“Cold Bore”) is a global leader in completion optimization technology, developing the first Electronic Completions Recorder and Remote Completion Operating System through Cold Bore’s SmartPAD™ service.
For more information, please visit - https://www.coldboretechnology.com/