Pandell Acquires PetroNet Systems
CALGARY, Alberta, Oct. 6, 2020 /PRNewswire-PRWeb/ -- Pandell Technology Corporation, a pioneer of Software-as-a-Service (SaaS) solutions to the energy industry, announced today that PetroNet production accounting software has joined Pandell's comprehensive back-office software suite for oil and gas companies. Specific terms of the deal were not disclosed; however, it was described as an asset purchase with the existing PetroNet team joining Pandell's Canadian operations.
The PetroNet cloud-based solution is used by more than 100 oil & gas petroleum producers in Canada to manage their production accounting operations and government reporting requirements. Combining PetroNet software with the Pandell financial suite reinforces Pandell's position as the back-office software leader in the upstream oil & gas sector.
"PetroNet is the defacto industry choice of production accountants in Western Canada, making it a natural fit with Pandell's cloud-based financial suite," says Greg Chudiak, Pandell's President & CEO. "We're pleased to welcome the PetroNet team and its customers into the Pandell family and we're looking forward to integrating the PetroNet software fully into our product line."
ABOUT PANDELL
Pandell is an industry leader in delivering Software-as-a-Service (SaaS) solutions to 500+ energy companies in Canada, the USA, and abroad. Our customers range from startups to major enterprises across energy sectors including oil & gas, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and field operations run their business more effectively; while our enterprise division builds and manages large-scale web portal applications that facilitate work across organizations. Combining the strength of our industry experience, Lithium(TM) technology, and practical software subscription model, we are Crafting the Future of Energy Software.
SOURCE Pandell Technology Corporation
