PrePad, a Calgary-based cloud-based SaaS startup specializing in oil and gas drilling and completions time and cost estimation, has been selected for Chevron Technology Ventures’ (CTV) prestigious Catalyst Program.
The program, aimed at accelerating technology innovation and sustainability within the energy sector, is highly competitive. Since its launch in 2017, PrePad is one of a handful of Canadian companies to announce its selection after Calgary’s Arolytics, Vancouver’s Motive.io and Mangrove Lithium, and Ottawa’s Cheetah Networks.
Sean Hervo, Co-Founder and CEO of PrePad, shared his excitement: “We’re deeply honoured to be chosen by Chevron Technology Ventures for the Catalyst Program. This opportunity is a significant milestone for PrePad, providing us with a framework to refine our technology further. Working with Chevron on potential use cases, and leveraging the program’s model will allow us to fine-tune our go-to-market strategies as we continue to develop a product that delivers tangible value to industry operators.”
PrePad’s proprietary software is designed to optimize cost estimation for oil and gas drilling and completions. The platform enhances capital efficiency, supports adjacent workflows, and offers greater transparency in decision-making processes. As the industry adapts to dynamic market changes, PrePad’s solution is positioned to help operators streamline their operations and boost accuracy.
The company’s participation in the Catalyst Program will enable PrePad to further validate and commercialize its technology. Trials with both existing and new clients in the energy sector are expected to follow. PrePad’s technology is already being used by leading companies such as Devon Energy and Coterra Energy.
PrePad has garnered industry attention and was recently named Disruptive Digital Innovator at the 2024 Global Energy Show Canada. Founded in 2021 by Sean Hervo and Brandon Eidson, PrePad has also secured funding from Alberta Innovates, NRC IRAP, and angel investors, positioning the company as a leader in energy tech innovation.