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Pason Announces Award of ExxonMobil Drilling Advisory System License
Pason Announces Award of ExxonMobil Drilling Advisory System License Canada NewsWi...
About this update from Pason Systems Inc.
[{"type":"text","content":"\n\n\n\nPason Announces Award of ExxonMobil Drilling Advisory System License\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nFeb. 10, 2017, CALGARY\n\n\n\nFeb. 10, 2017, CALGARY /CNW/ - 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.\n\nThe 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. \n\nThe 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.\n\nPason 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.\n\nCertain information regarding the Company contained herein may constitute forward-looking information under applicable securities law.  The words \"anticipate\", \"expect\", \"believe\", \"may\", \"should\", \"will\", \"estimate\", \"project\", \"outlook\", \"forecast\" or other similar words are used to identify such forward-looking information and statements. Forward-looking statements in this document may include statements, expre...