Welcome to the Erdos Miller Drilling Technology Podcast, where we spend our nonproductive time talking about drilling tech and getting the latest insights from leaders on our show. I'm Ken Miller.
And I'm David Erdos.
And today we're going to be speaking with industry leader, Brett Chell with Coldbore Technology. Brett, thanks for coming.
Thanks. Appreciate it. Thanks for having me.
We're excited. It should be a lot of fun. So I know it's a fun time in the industry. Things I think are ramping up for a lot of people and getting pretty crazy busy. So I know it's hard to take time out and still do stuff like this, but I think today will be a good one. So I'd love to learn a bit about you. How did you get started? You're an entrepreneur, you're a technologist. It sounds like you also had a career in the field doing the actual real work. Talk to us about that a bit.
For sure. So I started, about 20 years now, I guess, oil and gas. So in the early 2000s is when I was in the field, from 2000 to about 2008 or 2009. And that was mostly on the drilling side. And so I was just a young pup, dropped out of art school and decided I was going to go make some money. And so drilling rigs were the place you did that.
[crosstalk 00:01:13] I also gave up on art school, so we've got that in common.
Oh, yeah. And that's something else, that's a special badge of honor to not even make it through art school. It's a small group of people that flunked out of painting pictures.
I didn't say I failed. I just said I gave up on it.
So what did you do on the rigs though? Were you a driller? What was your role?
I started at lease hand, scrubbing rigs, in all the worst parts of Canada. Start at lease hand and then stayed out there until I was ADN. And then in 2005, 2006 range, I got pulled into a company. I was the second guy to a company called Extreme Core Drilling. And so we were developing the first coil top drive hybrids that were going to be the new thing before extended reach horizontals came around. And so then I spent the next five, six years doing technology development and that was it for my field days. And then in the early 2010, 2011 range, I decided I wanted to build my own businesses and do it at scale. So I joined a group of entrepreneurs that were based out of California and Canada, and they were doing strictly tech companies. And the purpose of that was to learn step financing, figure out the PE world, the VC world, how to build these financial narratives to get these companies financed. If you want to raise 10, 15, 20, 30 million bucks, there's a whole education process, you need to spend four or five days [crosstalk 00:02:34]
And you call it steps, the angel round to your VC round and series A, B, C, D E F double D, whatever, right?
Yeah, exactly. If you're going to start a business at scale and you want to build up to be something significant, you need to understand that landscape. I remember the mentor that I was working under for four or five years, the one thing he said to me when I first started, he's like, "You want to start your own business. It doesn't matter if it's making wooden spoons or you want to fly rockets to Mars. If you don't know how to finance it, you're not going to get it done." And so that was the thing where I'm like, "Oh, interesting. I never thought about this." [crosstalk 00:03:09] I spent five years in California and Canada back and forth, building tech companies. We built financial narratives and then executed on them and raised a few hundred million bucks. It was a crazy time.
And I have to throw it back and ask, what are the worst parts of Canada?
Post or right now?
I don't know, man. You see just where the rigs were.
Yeah. Because if that's a question of back then, there were hot spots that are terrible, middle of Saskatchewan and up north by the Yukon and now it's pretty much the whole country.
Well that's what I was wondering is I was definitely in Northern Saskatchewan working on rigs in 2012, 2013. So I know a little bit about where you worked.
That's [inaudible 00:03:51]. That's some of the worst work on earth. So you're doing 800 meters straight down. And you're doing two a day, in dry, dusty, crappy farm fields.
No, that's crazy. I remember, I'm used to seeing the slant rigs in the HTD industry, but the one thing I saw up there was a regular, was it just at 45 degrees. Full-size oil and gas rig at 45 degrees. It was just crazy to see that.
Yeah. This used to be a great place. Canada was great for technology, right. We'd love smart people up here and a lot of cool technology being built, but it's just not really the case anymore. The U.S has really kind of passed us in that.
Why do you think that is?
Policy. We've kind of turned away, turned our cheek at oil and gas up here in Canada in a big way. I mean, it's kind of a common theme. "Oil and gas are bad" politicians like to play that, but ours really went deep on it and they just don't support it here anymore. So you see a lot of us down in the states. It's much bigger market, more friendly, everyone's more tech forward. it's just a way better place.
Fair point. So oil and gas is real bad, so you have to survive, right? [crosstalk 00:04:57] So what made you want to start building companies though? That's a big jump from scrubbing rigs to building companies.
So I had owned companies before I went to the rigs, just doing my import export business for cars and all kinds of like tinkering, you know, small business, five people, nothing at 60, 80, a hundred employees that needs millions in funding. And so that's differentiator there. And so when I went to work with those guys in California, that's what they were doing. They do two or three companies every two years that would scale up to 250, 300 million and sell it. And so that fast paced, really highly technical finance world that it's almost like 50-50, you're building the business in those cases, but you're working on finance almost consistently, like the next round, the next round preparing for it. That's not what we do, but that gave me a good foundation to see that world and to see them run through that and understand it. And so that then you just go back, I work on one business at a time for five, six years. So you apply what you learn, but that's how you get to build a scalable business. I think that's one route.
You keep saying this group of guys in California, it's just like a group of friends or is this a group that you could look up and you could know about. What do you mean?
So my contact into them is a family member, an uncle of mine. My whole family is entrepreneurs. Like literally, my grandma, my grandpa were the butcher and the florist of a small town. And my mom, my dad, her two sisters, their husbands, they married both like everybody. And I mean, for me, I'm just a hundred percent unemployable, so I don't have a choice. But it's where we grew up. And so my uncle had been doing a bunch of businesses in the tech space, and he got involved with these guys and he owned companies with them. And so we were back and forth and that's how I got pulled into it.
Nice. Very cool. So your current venture is Cold Bore, that's where you're focusing. So tell us, what you guys are passionate about there, what are you building there?
Sure. So, we're focused squarely in the completion space, just to be clear on this and the brand of the product that we, and the service that we provide is called Smart Pad. If you were to get a literal description, completions master control system. Only company in the world doing it, totally different way to look at completions. And something that now that we're out there, I think is fairly obvious. And it's not that we were so smart that we thought of something that no one else thought of. It's just that we took methodologies from other industries, brought it over to one that was really in dire need of it. And that is the right methodology to apply to this application to really evolve this industry. And so what it is, is that completions and fracking has been not that relatively unchanged.
They get some automation within each one of the companies a little bit, but the process itself, it evolved from one while you're fracking to 4, 6, or whatever on a [inaudible 00:08:02] pad and then zipper frack. So the operation itself evolved quite a bit and got quite a bit more complicated. But, the way it ran was the frac company was out there and everybody kind of huddled around them. And when they frack, you kind of coordinate off of what fracks doing. And so what that does for the oil company is they have the oil companies, company man on location. And he's just kind of liaison in and trying to run it a little bit, but mostly it's up to the frack company and the services kind of interacting. They're all individualized. There's no master control system out there. So they're all running their own job basically.
But in reality, the pad is one operation, that the operator really needs to coordinate a lot on. And so what the problem is, that we identified three or four years ago when we first started deploying this and why we're getting so much traction now is the industry always kept that lens and said, "That's just the way those work." And what the demand from the oil companies were, was "I need to see my pads remotely." And so what popped up was analytic platforms that live in the cloud. And so they start visualizing whatever was coming back from the pad. Oh, it's better than nothing, but that poses a lot of problems. The biggest being that the oil company has no control over how that data's gathered on their operation as a whole. And the six companies that are out there have one sixth are recording their own timestamps, which is one sixth of an entire timestamp for the pad.
And they're not congruent or completely lined up. So if frac says this happened at 10:30, you might get that data back. And wire line also said that something else happened at 10:30 and the whole company's going, "I have no way to know which one's right." And so when you have all this data coming off of pad from six different people, six different timestamps, no formatting, no standardization, it poses a ton of data problems for the oil and gas company. It introduces a lot of inefficiency because you don't know exactly what you're looking at. And that's just the way it kind of ran. And when we looked at it, we said, hold on. And this came from the drilling world.
On a drilling rig, you have what are called EDRs, Electronic Drilling Recorders. You're probably familiar with NOV. Novos Paceon, they're just a computer that sits in the doghouse and it gathers all the data from different parts of the rig. So there's one timeline. So, the context is the timeline, So that's easy to organize. You go to a frack pad and now you have six timelines, simultaneous timelines that are running and interacting.
And so are you guys trying to be like the Paceon for fracking? Is that kind of one way you could look at it? Or is that not a good analogy for some reason?
It kind of works except that we go way past Paceon. Paceon is kind of a data recorder. We're actual infrastructure on site that sends.. So we start by data recording. The key here is Coldbore's crux is that we figured out that we could digitize the wellheads and track a timestamp of the pad, which is completely unbiased of those wellheads. So we can see what service company is doing what, from start to finish. And it can be shared with everybody. And that timestamp works for everybody. And now we can connect control systems of all the companies out there.
Okay, makes sense.
So when they have their own control systems and they execute what they're supposed to do, we're like the command center, that's keeping the clock and sending the commands to the next company, who's going to do what, and then you get fully autonomous frack for a pad.
So you have like an overarching control system where you can actually control the other companies on site and start their pumps or turn them off or that sort of thing?
This is the good nuance. Great question, Dave. So we are complimentary service. Our automation is time stamping the pad and communication. Let's use frack and wellheads as an example. On pads out east with [inaudible 00:11:45], we're doing this today. It exists. So frac has automation. That's their equipment. They pump, we don't reach into that, right? For liability reasons. Plus they don't want it, we don't want it. We're out there with complimentary service. They can pump a stage automatically. When that's done our system butts up to theirs. When they're done, they tell us, our system takes the signal and sends it to let's say, FMC. And the wellheads will, then it'll butt up against their control system and they'll switch well as autonomously. And when they're done, we'll fire the signal back and they'll pump stage two. So 85% of what you need for fully autonomous frack is on every location today. The 15% they're missing is us to come out there, create the common timestamp that all computers can sync to and send the signals for process automation.
You just need basically a pad gatekeeper to time everybody out and be the captain or the leader of the pack.
The great analogy is, it's like we brought the internet to the pad. They didn't have internet before. Everyone's doing their own thing. They're not connected. So when we show up, we connect them. Bi-directional communication. All services can see each other's service, data, whatever they want. We build everyone a custom screen, like frack now says, "Oh, I'd love to have equalization pressures." Or "I'd like to see the valve positions" or "My control system would run better if I could get their data so we could run continuous pumping." So if the wellheads controlled system is connected to fracks' control system, you can dramatically improve the efficiency of continuous pumping because it's just switching autonomously without people being involved.
So you've mentioned the word, you said zipper frack, and I'm really not that big in the frack. Meaning I don't have a ton of understanding. Give us an idea. What do you mean by zipper frac?
So zipper frack is just describing the process of the operation itself. So when you have four Wells, you'll have a bunch of stages on each well. And there's four or five companies out there that all have to do their part to complete that well, one's pumping fluid, one's running the guns down with the wire line and they happen in sequential order. One company has to do their thing and then the other company can do their thing and they have to repeat that. So a zipper frack was designed to just dramatically improve efficiency by saying, "Okay, the first company you do your first well, and then when you're done that you move to, well three and company two will come in on here and then you chase each other around." So you're effectively fracking four Wells at a time just moving around more efficiently.
Sorry. You're not actually pumping on four balls at a time, but you're doing the whole process.
It's a lot more efficient, right?
And it's crazy, I guess. because some people have the pumps and people have the fluids and solids and some people have the frat guns in the Packers and everything else, I guess there's not that. Nobody has all of that under one house per se or under one roof.
Correct. It's actually really simple. It's rudimentary when you think about it. If you back up and aren't just used to what everyone's been doing forever, you see I have a pad that's a $20 million frack and they're all interacting. They're all related to each other. And none of them are communicating right now with computers. They're just radios and emailing data in the random format that can't be acceptable.
It's amazing in hindsight, how many things like, "How the hell did you that before we, we did this or automated this or that" or whatever else. Like how'd you even remotely get it done.
It's amazing how much it's controlled by Excel spreadsheets and emails still. And so what was, what were some of the big challenges in bringing all this data together for you guys?
The one we faced four years ago, the most feedback we would get when, you're starting something that's quite different like this, the pushback you'll get is, "No one's going to participate. No one wants to play with you." And I was like, "Okay, I totally get it". But the reason why I guess just hadn't been discussed yet was that there are so many inconsistencies in the data. They're not really understanding, the Cannon have a good, clear picture of what's going on. That the reason why they don't want to share data is because both companies are withholding, oil company and service company are withholding to some degree because they know they're going to have to negotiate. And so what we said is like and what every other industry has followed, like take Amazon as a great example.
They brought a platform into commerce and just said, "Hey, every big box store had a website and products that could sell already on their own website." But the Amazon said that "You should all meet in the middle. Buyers, sellers should meet here, everyone in one place. Scale goes way up, a rising tide lifts all ships. We get all kinds of features out of it. You sell way more volume, you get free shipping. Like we can do all these things that would be better for the consumer if we work together. And the price will come way down." And, in this case in completions, what's going on right now is everybody's kind of out there doing their own thing. When we come out there and say, "let's interconnect, let's not try to withhold information to negotiate. Let's get the exact right data. We have one timeline that's tracked by a computer for the pad. So we can audit everything now to the second." So there's transparency for everybody.
It's not just for the oil company. It's for everybody. We all share this database. Let's use that first to share data between service companies that normally wouldn't be able to communicate. That will increase efficiency on a pad dramatically. Then the visibility of that. So we start with data sharing and interconnect ability. Then we start to move to process automation. We say, "Now that we're connected through a central source, we can just send signals instead of having you radio someone. Because, if something finishes and a guy is busy, he might spend five minutes he didn't know, and he radios them then. Let's just get rid of all that." And so you moved to full automation between all these companies.
Now you've got pads that are literally going to be 20, 30% more cost efficient. And then the service companies can start talking to the oil companies and say, "We're participating in this and we would like to get better performance-based contracts since how we have the ability to populate them now, if we're going to keep driving this, that's all get aligned, share in the profit and let's all go."
That's awesome. So where, where are you guys now in the process of building this technology? Are you still kind of proving it to the market? Are you commercial? Where are you at in the spectrum of technology?
For commercial. We're all printed on a bunch of pads for, a lot of the major operators, the super majors, independent EQT and Chesapeake's of the world and the BPS and Chevrons going on right away. And we're signing up new guys daily and then also work on the other side of the coin, partnerships with FMC and Downing and Evolution. And these guys are all connected to us too. we're just the platform. The new model of fracking is doing away with the old one where everyone just shows up and does their own thing. Now there's a platform for everyone to connect to and we can all share data. So co-board shows up, provides that, that makes everybody our partner oil companies on one side, all the services on the other. And then we're just kind of that piece in the middle of the tool, if you will.
So when we were prepping , you mentioned a couple of things to me that I thought were really interesting. You said state of consolidation. So tell me, what you're seeing with the industry right now?
The reason why that's on my top of mind is because oil and gas, I've worked in a lot of different industries. We've worked in aerospace for a while. One of those tech companies we funded, we flew a Volkswagen bus size video camera to the international space station and installed it up there and provided video back for a ministry, like forests and all this stuff. That was a crazy project. A lot of moving parts, a lot of big companies. And we're flying it up on a Russian rocket at the time because the U.S wouldn't do it and they weren't commercialized yet. And everyone's like, "This is so sketchy. Like I love the idea about a Soyuz rocket. Like, no thanks." So you think that technology was hard to push in. Then you go to oil and gas, try to push technology in oil and gas before two, three years ago was just a nightmare because, let's put it this way for the last 15 years up until five years ago, it was a, it was like a drill and Frackathon.
You couldn't get enough land. And that's all they're focused on more land, more land. Drill, frac, drill, frac. Then 2015 happens. Downturn. Everyone changes their focus a bit and it moves tomorrow. Like "we got to look at our efficiency here." Then double triple recession, pandemic later, there's nothing left on the bone. So this is where the MNA work starts to happen. Companies start buying bankrupt companies and so on and so forth and start consolidating. That is great for technology adoption because one, their focus right now is absolutely on cost reduction, finding ways to increase margin with less infrastructure. So that leads to technology adoption and automation. It's the stock-picking robots and Amazon's warehouse. They need to put those in there because they can't afford to have that many people anymore. So that evolution is happening right now.
But on the MNA side, what happens when the corporations start buying each other is when there's a transaction that, they put $2 billion out in this market to buy another oil company, that is really now being, hands-on run by the shareholders and the board of directors. They're saying, "We just spent this, everyone else is out of business, go find a new way to make money." And they're paying attention. And so the culture inside these oil and gas companies has changed dramatically. [crosstalk 00:20:43] It used to be the tallest sunflower gets cut. Like, "why would I try this? If it fails, I'm fired. If it works, no, one's going to know us, who cares? Right. We're making money now." They're not making money, they're rewarding people find the technology and implement the automation to change our business, to report to the shareholder. And so those guys now are incentivized, then the culture has changed.
And so it's lot easier to get adoption right now?
You're not just trying to go out there and just do it. So, you also mentioned, you have some thoughts on where oil and gas companies are spending their money right now. So tell us what you're thinking there?
So again, this is something that we thought was coming about. Your hard work puts into place to get lucky, I guess. and so there's luck involved. But when we looked at this, when we started Coldbore in 2015, we were developing acoustic telemetry for drilling. That was where we started. The first couple of million we raised that's what we did nothing to do with fracking. That six years ago. But then the market tanked and like no one is drilling a well, no one's going to care about cool tech and drilling, we need to pivot. There's 8,500 docs drilled, uncompleted Wells out there. They're going to frack when it comes back for a while, they're not going to keep drilling. So we made the whole sale pivot. It was a big deal inside the company. We had a board of directors up in arms and everyone was upset and we were out of money and we had to re raise and whole dramatic thing in 2015.
But then we did that. And now we're in a situation where we moved to completions and you look at where oil and gas companies are spending their money. 65% of their AFE or on average is in completions. And so it's just becoming more and more and more and more of their budget. And now everyone needs to dramatically increase margins and they can do that if they use automation, they can not only increase margins, they can reduce infrastructure, increase, safety, meet ESG requirements. Just kind of blanket, cover their in a bunch of different departments. And so we are real lucky or we've had a bit of foresight and we ended up here and I think that's where for the next few years, anyway, a lot of money is going to be spent on completion.
I have a real passion [inaudible 00:22:58] tools, but I really sometimes look at the completions part of the AFE within the for sure. Right? It's a hell of a lot bigger than the actual drilling, right?
Yeah. And I know I used to be a drilling guy and now I'm a seven year completions guy. Right. So I'm like a 50-50, there's always the, it's the dichotomy [crosstalk 00:23:17]
Do you really think that the AFE amounts for completions are going to keep going up and up? And if so, what's the driver. Because the trend, I guess, 18 months or two years ago was, "Hey, let's do in basin sand. we don't have to pull in all this fancy sand from somewhere else, but you can just use the regular saying we got right here and get the cost way down" and all this kind of stuff. That obviously that must have had an impact in reducing frack costs. But you're also saying there's increasing. So, what's driving in the increases.
I think their goal obviously is to reduce the overall cost. But I think the fracks are getting bigger, more complicated, and they're trying to get more out of them, obviously. we drill less Wells. We can frack much better. So there's a huge focus on down hole, frack technology and metrics and understanding what's going on with seismic and all that stuff and what we're bringing to the market, I think that was rather unique is that because there's so much focus on down hole, people didn't really think, "Is there a way to dramatically revolutionize our operations on the surface? And they're like, "I guess not" because, we got automation in silos here. And what we're saying is "Put this platform in and automate the whole thing." [crosstalk 00:24:29]
Get a lot more value out of making everything on surface efficient, as opposed to refining the next type of profit or something. Right?
That's right. It's both right. Downhill is really expensive. But on the surface one that they, the double win here is that if you focus on automation for your operations, you'll win on the cost of operations and efficiency and all that stuff. But the crux of automating those operations means you're fixing a data formatting problem, which is the unformatted nature of the data on prem today means that all this data's coming up everywhere, it gives you a problem for, you have to have a lot of infrastructure to handle it. You can't understand a lot of it. A lot of it's wrong. You're spending money all over the place on the backend databases and manually moving data and having different software to try and manage it. We just said, "This automation requires that we pick a common timestamps somehow to track it and then format everything into that before it leaves the print."
So all of a sudden, oil companies now have everything. They know their operation to the second they know exactly what's going on with Wells swaps Well switches, wire line, coil, pumped down, offset, everything. So they start managing their job a lot different. It becomes way more efficient from that perspective. But we also just write an API to tie right to open Weller Well View. And we automate the movement of the entire pad's data into a database, through their cloud with no one touching it, which they would do a fifth of that with 10 20 people. So there's all of these shift changes. Then, you have this timestamp that has moved from completely subjective mess to completely objectified data. Now smart contract can come in. So you're talking about your APAR and the whole backend of your multi-billion dollar business. Account managers, accountants reduce everything.
That's exciting to me. I've always thought spark contracts are really interesting. I just haven't seen them pick up as much as I would've hoped, but I can see what you're saying though. It's like, if you have everything automated, you can verify it. That makes smart contracts a lot easier, right?
Yes. So, the smart part of smart contracts is mathematically equations. They just, calculate objective data. The smart contract is not figure out what happened on premises that's such a mess. What's wrong on premises. They can't do that. So if you have any subjectivity, they're completely useless, which is what the whole situation is today. And if we do this automation, we removed the subjectivity, move to objective data that can be verified and audited. Now, boom! Backend Hyper ledger based smart contract done.
That's a really good point. So give us your outlook on the industry. Where do you see things going in the next two or three years after all the unpredictability we've had in the last five?
Those are not good questions to answer anymore because you're going to look back on this in a year and it won't age well, because this crazy world who knows, I don't know, man, I don't know. I don't like answering questions that are further than six months out.
Tell me about six months, what do you see in six months?
This is a big discussion. What happens in the world in the next six months that affects oil and gas? I think there should be a steady, consistent rise here. Here's what I know, people are a lot more optimistic. Oil and gas companies are planning further, they're spending more money. So, that's good that hasn't happened in the last few years. They're smarter than me, they have analysts that do this. I'm a little pessimistic that what's going on right now is pretty crazy. And it's going to come down like a house of cards, like in a way. How does that affect oil and gas? I have no idea, but I know that the world needs energy again now. And it's coming back really. And we've been so depressed for so long that there's going to be a steady climb out of this, but people are going to be very focused on not going back to the old oil boom mentality, like "let's just spend and run". They're conservatively growing their business and still implementing technology to make sure they get the most margin out of it.
I've heard that opinion many times. I disagree with that though. I agree that that's what they're doing right now. I think that as soon as they make some money, they'll forget and they'll go back to "drill baby drill" and it'll be the whole thing all over again. I don't know that anyone has the... humans, especially Americans or Canadians are too aggressive. They're not going to be conservative forever. Like we just touched the hot stove. And so we're going to remember that for a while, but not forever.
You know what, I don't think from a fundamental perspective, it's hard to argue with you because here's what we're competing with. You got kingdoms in the middle east that are controlled by one party. You've got Russia, that's controlled by one party. They can completely control their supply and demand and their infrastructure and their utilization and everything. You have a free market economy over here, as soon as there's an opportunity. The companies that I work with now that BPS the Chevrons, the guys who've been around, they probably will follow the trend that I was saying. And they've been here, they've been burned and they're big. And they've got to be careful. But there's going to be an influx of new companies and people that are just going to come in and try to scoop up that extra margin that's lying around. And That's where [crosstalk 00:29:24].
Something like the Middle East, it's not really a predictable market because they're going to do, what if they wake up on Wednesday and feel like shutting off oil supply. They can do that. But the free market is entirely predictable. "If we can make money, we're going to produce too much. And if it, if it crashes, we're going to fire everybody." It's really really that simple. There's no other real mechanism. And so that's why I think that, whatever temperance we have right now with our approach is temporary. [crosstalk 00:29:54]
Yee Haw baby! Make some money. Let's just participate then, let's go. [crosstalk 00:29:58]
The industry does feel good right now. There's a lot of drilling activity going on. That's that's been great, people are buying new equipment even right now, which is, feels pretty good. And I'm hoping we'll have a nice, good up for at least two years and then we'll see what happens.
I hope so. I think you're probably right. I just didn't expect a global pandemic last year either. So that one kind of caught me off guard.
You can't expect a black Swan event. That's the whole nature of them. And also, this is my own rant, but I get really annoyed when everybody says "we could see 2014 or 2015 coming," or they could say that they understand why it happened because that is such baloney. It really is. Everyone's like, "oh, it's just simple, the supply and demand. We had way too much supply to the market crash." Well then why couldn't you see that coming out a year out genius? Why was everybody caught by surprise Thanksgiving of 14? You know, going, "Oh my God, what's going to happen. Oh my God, the recount, where'd it go?" Don't, don't tell me it was that simple.
But I'm with you, it is entirely unpredictable. Anything could happen. But I think at this point, there's a lot of human energy wanting to get back to business and normality and it was going to be fighting in that direction. And every world of government corporation, person, etc is fighting to get back to normal. So I think that some energy that we can count on a little bit.
So, you guys, you're commercial now you've got your spark pad system working really well. You're signing up customers left and right. What's what's next for Coldbore? Where are you guys going next?
This is it. This is a big opportunity for us, obviously, a platform in the middle of completions that sits in the middle, providing the service to a lot of these big companies is a very big deal. This is a big undertaking. So the next year or two, we've got big big partners coming in right now, a big brand names, super majors. So they're going to add a lot of credibility and horsepower. We work closely with both clouds, Microsoft and Amazon. And they're watching this intently because they're seeing infrastructure show up on premises that they can connect to in a formatted fashion, which is incredibly valuable to them. They've never had that before, because it dramatically changes what they can provide as cloud services to all of these companies in terms of quality. So I think that this is a huge, huge, huge opportunity for the industry. And we're deadly focused on making sure we execute this right, so that we can keep this change happening.
Hey man. Eye on the prize, that's a good answer.
Yes. No distractions. So now I'm wearing holes in this chair right now in my living room. I sit here 15, 16 hours a day.
It's been crazy working from home with everything. Well, is there anything else Brett, that you wanted to cover before we kind of wrapped up? Or did we get through all the main points?
No, man. That's awesome. I love doing these things, so I appreciate you guys coming on. These are always fun to do.
Awesome. It was fun. Dave, do you want to go ahead and take us out?
Thank you, Brett. We learned a lot about fracking and all the interconnected systems there. But that's all the time we have for today. Thanks again, Brett, for joining us. Be sure to check out our podcast on iTunes and Spotify and YouTube.