Peloton Enters into Agreement to Acquire Cevian Technologies

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Feb 23, 2021, 16:05 ET

CALGARY, AB, Feb. 23, 2021 /PRNewswire/ -- Peloton is pleased to announce that they have entered into an agreement to acquire Cevian Technologies, a cloud-based software company that specializes in real-time data acquisition, visualization, and reporting tools for the completions industry. Cevian's flagship product, FracNet, is a real-time fracturing data visualization and cloud storage platform, that makes any fracturing treatment data accessible in a standard, structured format during and after the job.

As the energy industry embraces digitalization and cloud technology, the opportunity to align Cevian's FracNet software and services with Peloton's Platform solutions, including well data lifecycle and production data lifecycle, will enhance companies' ability to analyze fracturing data, improve decision-making and optimize opportunities.

Glen Gray, CEO of Peloton says, "We look forward to further developing FracNet and integrating our combined technology to increase productivity and reduce cost for our clients."

Jocelyn McMinn, Co-Founder and Managing Director of Cevian Technologies adds, "The addition of FracNet to the Peloton Platform brings real-time quality precision and standardization to the completions space, something long enjoyed by the drilling sector." "Peloton is the ideal home for Cevian, and together, we will provide clients with curated completions data that can be easily accessed using FracNet or any visualization platform," says Kevin Lo, Co-Founder and Managing Partner of Cevian.

About Peloton

The Peloton Platform energizes the oil and gas digital transformation through mobility, automation, and data integration by providing fully integrated well data lifecycle, production data lifecycle and land data management solutions. Today, over 600 oil and gas clients worldwide rely on Peloton technology to equip their stakeholders with the tools and information necessary to manage, simplify and optimize their operations.

About Cevian

Cevian Technologies has extensive experience developing real-time data acquisition, visualization, storage, and reporting tools for the completions industry. Cevian's flagship product, FracNet, can power your analytics with clean, standardized frac data during and after the job and has been used for real-time operational decisions in over 10,300 completions to date.

SOURCE Peloton