Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Cold Bore Technology Hits Major Growth Milestones as a New Industry Standard Emerges

  • Cold Bore records +43% revenue growth & 70% increase in full time employees in past 6 months
  • Sees significant increases in SmartPAD deployments in five major basins across the US

CALGARY, Alberta–(BUSINESS WIRE)–Cold Bore Technology Inc. (“Cold Bore”), the leader in frac completions automation and platform technology, announced today record 2021 growth in key areas including new customers, revenue, team size and technology infrastructure.

In the six months from April to October, 2021, Cold Bore saw unprecedented demand for its SmartPAD completions platform and control system, increasing deployments by over 38% from the previous six month period. SmartPADs were installed within operations across five new U.S. basins including; DJ Basin, Utica, Scoop Stack, Delaware and Haynesville, meaning the technology able to interconnect and automate completions operations is fast becoming a defacto completions operating system for producers within 12 major shale plays in the US and Canada.

In line with the increased adoption of its technology, Cold Bore also saw revenue increase by over 43 percent in the period and full time employee headcount increase by 70%.

“Having a standardized master control system has quickly become a key differentiator in successful completions and is advancing the industry quickly towards fully automated operations,” said Brett Chell, CEO at Cold Bore. “We’re committed to ensuring we consistently have the very best hardware, software and skilled talent to meet the demand we’re seeing and play our part in moving the industry forward, making it safer, cleaner and more sustainable.”

Cold Bore is leading a major shift in the completions (fracing) industry towards a new standard of operating by providing oil & gas companies (operators) with a centralized digital platform called SmartPAD. SmartPAD is an end-to-end, fully integrated “Plug and Play” completions platform. Acting as a central control system and connection point, SmartPAD automatically tracks an independent and complete multiservice timestamp for the entire operation. Second by second the SmartPAD standardizes the entirety of data collection, visualization and communication between services and the operator. This is the universal connection point to end all data and protocol variability struggles with a universal approach that makes formatting every pad as easy as “Plug and Play”.

The latest growth figures come hot on the heels of Cold Bore’s $14M growth financing round led by bp ventures with participation from the Canadian Business Growth Fund (CBGF).

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

Contacts

For media enquiries or interviews:
Josh Stanbury | josh@sjspr.co | 416-628-7441

#FOLLOW US ON INSTAGRAM