Pandell Acquires PetroNet Systems
October 5, 2020 Calgary, Alberta, Canada - 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.”
According to a senior production accountant and 25-year industry veteran, the merging of PetroNet into the Pandell financial suite is a big win for industry. “The people at Pandell consistently prove they’re listening to their customers by making requested changes and improvements to their software products,” says the Alberta-based independent consultant. “I’m confident that this coming together of fan-favourites will drive the PetroNet software forward to becoming an even better product than it is today.”
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™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.