ProMonitor Risk + Integrity is a data-driven solution that helps oil & gas producers monitor the risk and integrity of their pipeline assets. It is the newly developed module of CriticalControl's ProMonitor platform and leverages the same Geographic Information System (GIS) map-based interface that underpins the ProMonitor data-driven measurement schematics module that CriticalControl launched in 2013.
ProTrend provides producers with a centralized system for the management of oil & gas composition analysis information and integrates with ProMonitor Risk + Integrity to provide producers with critical data needed for pipeline risk analysis.
"The development of our second ProMonitor module and its rapid adoption by a growing producer in Canada is an endorsement of the ProMonitor platform," said Alykhan Mamdani, President and CEO of CriticalControl. "In addition to being a new product, ProMonitor Risk + Integrity provides further utility to the Corporation's cloud-based ProTrend application".
The deployment of both the ProMonitor Risk + Integrity and ProTrend solutions across the Producer's corporate environment is expected to take place over the course of the next four months with estimated revenue potential for CriticalControl of $740,000 over three years.
About ProMonitor Risk + Integrity
ProMonitor Risk + Integrity integrates, cross-references and validates a variety of public and private data, which is then used to generate visual depictions of the various pipeline and gathering systems. Both the data and the visuals are securely accessed through a Geographic Information System (GIS) map-based web interface. The solution uses proprietary risk scoring algorithms that account for a wide variety of factors and alerts producers to issues within their gathering systems. In so doing, ProMonitor Risk + Integrity helps producers address issues of environmental concern and focus their risk mitigation and response efforts for maximum efficiency and productivity.
ProTrend is CriticalControl's solution that provides oil & gas producers with a centralized system for the ongoing management and leveraging of oil & gas composition analysis information for the purposes of regulatory compliance, measurement accuracy and maximization of well production.
ProTrend allows producers to set standards for oil & gas composition on a well-by-well basis and alerts them to trends and differences that require intervention, creating significant, measurable efficiencies.
ProTrend is currently used to manage composition data for over 150,000 measurement points in Canada and is in the process of being adapted for use by producers in the United States.
Forward Looking Statements
This press release contains expectations of revenue to be derived from the Producer's selection of the Corporation's ProTrend and ProMonitor Risk + Integrity solutions. The actual contract with the Producer is based on the number of measurement points added to ProTrend and the number of pipeline segments implemented on the ProMonitor Risk + Integrity software. Actual revenue may differ in the event the Producer's assets change in size during the course of the contract. ProMonitor Risk+ Integrity is a new offering and expectations related to implementation are subject to risk given the lack of maturity of the final product.
In a world of escalating globalization, with an increasingly transient workforce, enterprises have difficulty maintaining their knowledge and are forced to focus on their key market advantages to remain competitive. CriticalControl provides these enterprises with secure and cost-effective solutions for the completion of document and information intensive business processes through an integrated offering of software, outsourced services and optimized business processes.
Contacts: CriticalControl Solutions Corp. Alykhan Mamdani President & CEO 403.705.7500