Pason Systems Inc (TSX:PSI)

Technology

Pason Systems Inc is a software and technology services provider for the global oil and gas industry. The energy service provider operates worldwide, including Australia, Argentina, Brazil, Bolivia, Colombia, Ecuador, Dubai, Peru, Mexico, and Saudi Arabia.

The company’s main clientele includes drilling contractors, E&P operators, and oilfield service companies. The technology firm provides innovative solutions for the drilling industry and claims to cater to 70 per cent of the market in the Western Hemisphere.

Pason Systems offers end-to-end data management solutions to its clients and claims to aid them in accessing operational data securely and conveniently from anywhere in the world.

Founder Wayne Parks and Ron Mason set up the business in 1978. However, Badger Drilling Limited acquired the company in 1980.

The tech solutions provider penetrated the US market by acquiring Rocky Mountain Geo-Engineering in 1997. Since then, Pason has penetrated various geographies, including Latin America in 2003, Australia in 2006, and Saudi Arabia in 2014.

In addition, for 40 years, the company claims to have acquired several businesses, including Houston-based Petron Industries and Verdazo Analytics in 2016, Energy Toolbase in 2019, and a minority interest in Intelligent Wellhead Systems in 2019.

The drilling solutions provider obtained a new patent in the United States in 2020 to develop a technology to detect loss or influx during drilling wells. The company’s technology solutions and services include
• Data acquisition
• Remote Communications
• Wellsite Reporting
• Well-based information management
• Enabling collaboration between the office and the drilling rigs.

The Canadian company provides data management systems and the following technologies:

• Drilling Data: Enables clients to access real-time data from their rigs regardless of their location and time.

• Drilling Intelligence: The company offers the latest technology, machine learning and data science-based drilling solutions.

• Fluids and gas management: Through the management system, the clients can take timely decisions about fluids and gas measurements using Pason’s technology.

The company claims that its data science-based solutions provide deep insights and complex answers to the onsite personnel regarding the drilling parameters, dysfunctionalities, event alerts and other necessary real-time data. As a result, the drilling solutions help the clients to optimize their costs, the company claims.

Contact Information

company address 6130 Third Street SE, Calgary, Alberta, T2H 1K4

company phone403.301.3400

company email[email protected]

company websitehttps://www.pason.com/

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