Total Energy Services Inc. Enters Into Strategic Alliance With Pason Systems Inc.
CALGARY, Alberta, May 11, 2018 (GLOBE NEWSWIRE) — Total Energy Services Inc. (“Total Energy”) (TSX:TOT) is pleased to announce that it has entered into an agreement with Pason Systems Inc. (“Pason”) to collaborate in the development and deployment of drilling automation and optimization technologies.
The agreement between Total Energy and Pason contemplates that Total Energy’s contract drilling services segment (“Savanna Drilling”) will cooperate with Pason to offer Savanna Drilling’s North American customers a new automation platform on its fleet of drilling rigs through Pason’s technology platform.
Savanna Drilling will leverage Pason’s best in class process automation applications to equip its fleet of drilling rigs with real-time drilling optimization tools. These tools use machine-learning algorithms to harness the value of the data captured on the drilling rig and offer increased consistency and efficiency through real-time drilling optimization, advisory and control. Pason’s platform enables high-frequency adjustments to be made to drilling parameters in an automated fashion to increase drilling efficiency and reduce non-productive time. The data capture and computing are done through Pason’s digital network already installed on most of Savanna Drilling’s North American rigs, enabling Total Energy to take a capital efficient approach to drilling automation.
From initial trials of these technologies, Savanna Drilling’s rigs are showing consistent improvement using Pason’s evolving and expanding platform. Pason has an extensive research, development and engineering team that is devoted to assisting operators to maximize the performance of their assets through ongoing investment in technology. Savanna Drilling is excited to collaborate with Pason to develop existing and future industry-leading technologies and to make such technologies available to its customers in an efficient and cost effective manner supported by highly skilled drilling and technical support personnel.
William Kosich, Total Energy’s Vice President, Drilling Services commented, “Coupled with Pason’s leading automation and optimization solutions, Savanna Drilling is able to provide a seamless and fully integrated drilling technology platform. Our partnership with Pason allows our customers to benefit from the strengths and expertise of both companies, which we believe will provide one of the most cost-efficient solutions to enhance rates of penetration and the quality of well bore construction.”
Headquartered in Calgary, Alberta, Total Energy Services Inc. provides contract drilling services, rentals and transportation services, well servicing and compression and process equipment and service to oil and natural gas producers operating in North America, Australia and other international markets. The common shares of Total are listed and trade on the TSX under the symbol TOT.
For further information, please contact Daniel Halyk, President & CEO for Total Energy at (403) 216-3921 or by e-mail at: firstname.lastname@example.org or visit our website at www.totalenergy.ca.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
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