PrePad, a cloud-based, SaaS startup focused on revolutionising drilling and completions time and cost estimating, is excited to announce a strategic investment from Devon Energy Corporation. This investment emphasises the role of PrePad in supporting Devon’s work to improve well cost and duration models while improving capital efficiency, empowering adjacent workflows and transparently enhancing drilling and completion decisions to maximise financial value drivers.
PrePad’s advanced simulation capabilities are poised to revolutionize the energy sector, enabling clients to move beyond traditional spreadsheet-based approaches. With this investment, a powerful partnership between PrePad and Devon Energy, with its five decades of innovation in the oil and gas industry, is set in motion. PrePad’s cutting-edge simulation technology will merge seamlessly with Devon’s extensive expertise.
Kyle Haustveit, manager of Devon Energy Ventures, shared his excitement about the partnership, stating, “Our collaboration with PrePad, a trailblazer in time and cost simulation within the energy sector, holds great promise. Insight into time and cost dynamics is indispensable in our operations, and we have full confidence in PrePad’s ability to augment our capabilities.”
PrePad’s mission is to empower customers with optimised drilling and completions strategies. In an era marked by dynamic shifts in the energy landscape, changing input costs and volatile commodity prices, PrePad’s software offers a purpose-built solution to replace cumbersome spreadsheets. By streamlining processes and enhancing accuracy, PrePad is poised to become the go-to solution for comprehensive cost and time analysis, with detailed integrated economics.
Sean Hervo, the co-founder and CEO of PrePad, conveyed his excitement regarding the partnership, saying, “The alignment of our visions for PrePad’s potential is truly exciting. Collaborating with Devon Energy and gaining access to their expertise will provide the PrePad team with invaluable insights to enhance our go-to-market approach as we continue building a valuable product for Devon Energy and the wider industry.”
For more information visit www.prepad.io
