Yesterday, Pason Systems announced that it had Calgary-based software company Verdazo Analytics. Pason said Verdazo’s analytics platform for oil and gas production and operations will complement its own drilling information ecosystem.
“We are thrilled to welcome Verdazo and its entire team to Pason,” said CEO Marcel Kessler. “We believe Verdazo has developed a compelling data analytics offering for users in the oil and gas industry. Together, we look forward to providing energy professionals best-in-class capabilities to collect and analyze data. This new product offering will not only help clients reduce operational costs, but make better decisions on exploration and development practices.”
Foscolos says this deal isn’t of enough scale to make a difference right now.
“Although Pason’s and Verdazo’s products and operations complement each other and will add some synergistic value in the future, we believe that the acquisition and the simultaneous divestiture of 3PS will not have a material impact on PSI’s near-term profitability,” says the analyst. “A more significant impact to our outlook will be the unveiling of an update to our drilling rig forecasts for 2017 and 2018 and the associated financial projections.”
In a research update to clients today, Foscolos maintained his “Hold” on Pason Systems.