FOR IMMEDIATE RELEASE
CALGARY, Alberta (February 10, 2017) – Pason Systems Inc. (“Pason” or the “Company”) (TSX: PSI) is pleased to announce that it has been awarded a global license of ExxonMobil’s patented Drilling Advisory SystemTM (DAS). This agreement combines ExxonMobil’s experience in drilling surveillance and optimization with Pason’s expertise in deploying, hosting and servicing advanced technologies at the rig-site.
The Drilling Advisory System improves operational efficiency and reduces costs through real-time performance monitoring and application of data analytics to develop drilling performance maps. These maps are used to determine optimal drilling parameters, improving drilling speed and reducing drill string vibration.
The deployment of ExxonMobil’s Drilling Advisory System extends Pason’s portfolio of technologies that can significantly improve the efficiency and effectiveness of drilling operations. The award of the license is testimony of the capabilities of Pason’s flexible platform and the Company’s distinctive skills in designing intuitive interfaces for field users.
Pason Systems Inc.
Pason Systems Inc. is a leading global provider of specialized data management systems for drilling rigs. Our solutions, which include data acquisition, wellsite reporting, remote communications, web-based information management, and analytics, enable collaboration between the rig and the office. Pason’s common shares trade on the Toronto Stock Exchange under the symbol PSI.
For more information about Pason Systems Inc., visit the company’s website at www.pason.com or contact: