COLD BORE TECHNOLOGY

lockPrivate Group

Cold Bore Technology

people60 Members        (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200 200  png
  • Thumb blair head
  • Thumb fullsizerender 2
Request Membership


COLD BORE TECHNOLOGY

lockPrivateGroup

Cold Bore Technology ...

people60 Members        (0)

Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

7 days

Intelligent Underground gathers, stores, compares and correlates all event information providing a clearly defined picture of what is happening throughout the operation. Equipped with a record of the past and insight into the future, CBT mitigates risk and solves problems before they arise.

Thumb screen shot 2018 07 05 at 3.09.54 pm

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

14 days

Through the power of cutting-edge software and data analytics, Cold Bore gives you unprecedented insight into your frac pad operations in real-time. Integrated monitoring solutions empower your team to make better, faster and more streamlined decisions and identify cause-and-effect relationships that reduce downtime.

Thumb 36276420 1995757303832894 4144539957697970176 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

25 days

Collect invaluable operational data and unlock unprecedented insights. Equipped with advanced analytics data, optimize and customize your fracking operations while reducing material waste, non-productive time, and improving your bottom line.

Thumb 35749538 1978371232238168 6761435424884785152 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

1 month

The Cold Bore SmartPAD™ technology helps operators locate and eliminate non-productive time out on the completions pad, where minutes of wasted time can add up to thousands of dollars that may as well be burned away.

Thumb a23bb314 c8a0 427d a6ca 12f284a96a15 large

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

2 months

The SmartPAD™ system, Cold Bore’s proprietary surface digitization software and hardware, allows clients to monitor the status of valves, pressure within the pipe, and flow path. Information is recorded in real-time and accessible by tablet both onsite or remotely, enhancing the efficiency of decision-making processes and providing the necessary insight to vastly reduce NPT. Time is money and SmartPAD™ is specifically engineered to save operators both.

Thumb 33079981 1938066806268611 1998474366165188608 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

2 months

Hydraulic fracturing operations aren’t easy to monitor, and for good reason: they take place several kilometers beneath the earth’s surface. It’s hard to transmit data when there’s so much dirt and rock getting in the way. Consequently, wellbore operators can be forced to rely on guesswork, with results that can be hit-or-miss. But Calgary-based company Cold Bore Technology wants to erase conjecture from fracking operations and replace it with accurate, real-time awareness of everything that’s happening underground. Check out the rest of the article here:

Thumb 31967884 1918637698211522 1742107424669564928 n

!

Daphne Harris posted a press release Shareholder Update for January-June 2017 in COLD BORE TECHNOLOGY

 

Cold Bore Technology shareholder update 

 

This 6-month shareholder update is for January-June 2017 and includes salient details related to Operations, Partnerships, Pilots, Joint Venture’s (JV) and general business conditions for Cold Bore. We will also cover what we forecast will transpire over the second half of the year.

 

The first matter we address is the temporary delay we are currently experiencing in achieving revenue targets, and the reason for this. Our business model and scaling projections are based on providing a service to the end users, which are E & P companies (Exploration and production or oil companies). We achieve this by being partnered with very large multinational companies who provide the E & Ps with wellheads. The relationship with large service companies like Schlumberger, for example, consists of Cold Bore digitizing their currently analog wellheads, tracking that data and organizing it through the use of machine learning into easily consumable reports. These reports track pressure, valve position, flow path and most critically they track non-productive time, tracking this data allows operators to easily understand their minute by minute lost operating costs. This currently does not exist.

 

At the start of this year, we were working substantially with General Electric (GE). This was our first large multinational wellhead supplier and there was an expectation of significant growth with them servicing clients like 7 Gens, Shell, Encana etc. Initially, the agreement was 2-fold, first GE wanted us to partner with them to provide an enhanced solution to their wellhead customers by digitizing their assets and providing a digital twin to transform their dumb iron into a digitized and trackable technology. The second aspect of the relationship was for us to share the gathered data and send it to their industrial cloud platform that they had spent billions on. Approximately 4 months ago GE wanted to change the commercial agreement and their partnership proposal included Cold Bore giving them a substantial percentage of its revenue. This was not attractive nor was it economically viable for us. After months of trying to work out a different more agreeable commercial relationship, we realized that it would not be possible to reach a satisfactory agreement with them. We, therefore, ended our relationship with GE which has temporarily caused a slowdown in revenue.

 

The good news is that GE is actually a new and very small player in the wellhead Business. There are in fact much larger companies in this space such as Cameron, Weir, and FMC, all three of which operate globally with large presences in both Canada and USA. Once we realized we were not going to scale through our original plan with GE we began aggressive business development efforts to secure new partnerships with their larger competitors. Currently, we have agreed to a pilot for potential full partnership with one of these large multinational wellhead companies though further details are currently covered by an NDA.

 

We believe that this is a significantly better partnership for us and will help us hit our revenue targets quicker than with GE. The new group we are working with is much larger in Canada and the US, and they

have expressed interest to fully integrate with them. If the pilot goes well they anticipate a full roll out across their fleet. This roll out in Canada alone would put us back on track with our projections. This projection does not include possible US expansion as well.

 

It is worth mentioning we are also now in similar talks with Weir and FMC out of the US to provide them with digital wellheads as well. Which could also dramatically grow our business. These are earlier stage relationships but fall into the same scope of work as our current large potential partners.

 

One other significant development that should be mentioned is that we have worked out, and have verbally agreed in principal to, a JV with one of the largest service companies in the Middle East. We will be submitting the documents and agreements to our board shortly for their approval on this. This JV will be called Cold Bore Gulf. We have partnered with a very substantial group that provides much of the services for ADNOC - the Abu Dhabi state oil company. Fracking is a relatively new market in the Middle East, so the market size is yet undetermined but we will be one of the first companies there providing expert frack process monitoring and reporting. This will be immensely valuable for the relatively new market in that part of the world. Typically, service company’s rates are significantly higher in the Middle East than in North America as well.

 

To summarize the unfortunate loss of a major commercial relationship like GE may have a silver lining which will allow us the ability to pursue not only one or two of their competitors but the entire market freely.

 

We hope this summary has been useful and as always welcome anyone reaching out to us if you have any more questions.

 

Sincerely,               

Blair Layton, CEO        &            Brett Chell, President

!

COLD BORE TECHNOLOGY

lockPrivate Group

Cold Bore Technology

people60 Members        (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200 200  png
  • Thumb blair head
  • Thumb fullsizerender 2
Request Membership


COLD BORE TECHNOLOGY

lockPrivateGroup

Cold Bore Technology ...

people60 Members        (0)

Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

7 days

Intelligent Underground gathers, stores, compares and correlates all event information providing a clearly defined picture of what is happening throughout the operation. Equipped with a record of the past and insight into the future, CBT mitigates risk and solves problems before they arise.

Thumb screen shot 2018 07 05 at 3.09.54 pm

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

14 days

Through the power of cutting-edge software and data analytics, Cold Bore gives you unprecedented insight into your frac pad operations in real-time. Integrated monitoring solutions empower your team to make better, faster and more streamlined decisions and identify cause-and-effect relationships that reduce downtime.

Thumb 36276420 1995757303832894 4144539957697970176 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

25 days

Collect invaluable operational data and unlock unprecedented insights. Equipped with advanced analytics data, optimize and customize your fracking operations while reducing material waste, non-productive time, and improving your bottom line.

Thumb 35749538 1978371232238168 6761435424884785152 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

1 month

The Cold Bore SmartPAD™ technology helps operators locate and eliminate non-productive time out on the completions pad, where minutes of wasted time can add up to thousands of dollars that may as well be burned away.

Thumb a23bb314 c8a0 427d a6ca 12f284a96a15 large

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

2 months

The SmartPAD™ system, Cold Bore’s proprietary surface digitization software and hardware, allows clients to monitor the status of valves, pressure within the pipe, and flow path. Information is recorded in real-time and accessible by tablet both onsite or remotely, enhancing the efficiency of decision-making processes and providing the necessary insight to vastly reduce NPT. Time is money and SmartPAD™ is specifically engineered to save operators both.

Thumb 33079981 1938066806268611 1998474366165188608 n

!
Thumb fullsizerender 2

Daphne Harris posted an update in COLD BORE TECHNOLOGY

2 months

Hydraulic fracturing operations aren’t easy to monitor, and for good reason: they take place several kilometers beneath the earth’s surface. It’s hard to transmit data when there’s so much dirt and rock getting in the way. Consequently, wellbore operators can be forced to rely on guesswork, with results that can be hit-or-miss. But Calgary-based company Cold Bore Technology wants to erase conjecture from fracking operations and replace it with accurate, real-time awareness of everything that’s happening underground. Check out the rest of the article here:

Thumb 31967884 1918637698211522 1742107424669564928 n

!

Daphne Harris posted a press release Shareholder Update for January-June 2017 in COLD BORE TECHNOLOGY

 

Cold Bore Technology shareholder update 

 

This 6-month shareholder update is for January-June 2017 and includes salient details related to Operations, Partnerships, Pilots, Joint Venture’s (JV) and general business conditions for Cold Bore. We will also cover what we forecast will transpire over the second half of the year.

 

The first matter we address is the temporary delay we are currently experiencing in achieving revenue targets, and the reason for this. Our business model and scaling projections are based on providing a service to the end users, which are E & P companies (Exploration and production or oil companies). We achieve this by being partnered with very large multinational companies who provide the E & Ps with wellheads. The relationship with large service companies like Schlumberger, for example, consists of Cold Bore digitizing their currently analog wellheads, tracking that data and organizing it through the use of machine learning into easily consumable reports. These reports track pressure, valve position, flow path and most critically they track non-productive time, tracking this data allows operators to easily understand their minute by minute lost operating costs. This currently does not exist.

 

At the start of this year, we were working substantially with General Electric (GE). This was our first large multinational wellhead supplier and there was an expectation of significant growth with them servicing clients like 7 Gens, Shell, Encana etc. Initially, the agreement was 2-fold, first GE wanted us to partner with them to provide an enhanced solution to their wellhead customers by digitizing their assets and providing a digital twin to transform their dumb iron into a digitized and trackable technology. The second aspect of the relationship was for us to share the gathered data and send it to their industrial cloud platform that they had spent billions on. Approximately 4 months ago GE wanted to change the commercial agreement and their partnership proposal included Cold Bore giving them a substantial percentage of its revenue. This was not attractive nor was it economically viable for us. After months of trying to work out a different more agreeable commercial relationship, we realized that it would not be possible to reach a satisfactory agreement with them. We, therefore, ended our relationship with GE which has temporarily caused a slowdown in revenue.

 

The good news is that GE is actually a new and very small player in the wellhead Business. There are in fact much larger companies in this space such as Cameron, Weir, and FMC, all three of which operate globally with large presences in both Canada and USA. Once we realized we were not going to scale through our original plan with GE we began aggressive business development efforts to secure new partnerships with their larger competitors. Currently, we have agreed to a pilot for potential full partnership with one of these large multinational wellhead companies though further details are currently covered by an NDA.

 

We believe that this is a significantly better partnership for us and will help us hit our revenue targets quicker than with GE. The new group we are working with is much larger in Canada and the US, and they

have expressed interest to fully integrate with them. If the pilot goes well they anticipate a full roll out across their fleet. This roll out in Canada alone would put us back on track with our projections. This projection does not include possible US expansion as well.

 

It is worth mentioning we are also now in similar talks with Weir and FMC out of the US to provide them with digital wellheads as well. Which could also dramatically grow our business. These are earlier stage relationships but fall into the same scope of work as our current large potential partners.

 

One other significant development that should be mentioned is that we have worked out, and have verbally agreed in principal to, a JV with one of the largest service companies in the Middle East. We will be submitting the documents and agreements to our board shortly for their approval on this. This JV will be called Cold Bore Gulf. We have partnered with a very substantial group that provides much of the services for ADNOC - the Abu Dhabi state oil company. Fracking is a relatively new market in the Middle East, so the market size is yet undetermined but we will be one of the first companies there providing expert frack process monitoring and reporting. This will be immensely valuable for the relatively new market in that part of the world. Typically, service company’s rates are significantly higher in the Middle East than in North America as well.

 

To summarize the unfortunate loss of a major commercial relationship like GE may have a silver lining which will allow us the ability to pursue not only one or two of their competitors but the entire market freely.

 

We hope this summary has been useful and as always welcome anyone reaching out to us if you have any more questions.

 

Sincerely,               

Blair Layton, CEO        &            Brett Chell, President

!