Pandell acquires PetroNet Systems

05 October 2020

On October 5, 2020, Pandell Technology Corporation, a pioneer of Software-as-a-Service (SaaS) solutions to the energy industry, announced that PetroNet production accounting software had joined Pandell's comprehensive back-office software suite for oil and gas companies. The transaction was 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.

Gowling WLG advised Pandell in this acquisition with a team led by Greg Peterson, with the assistance of Simanpreet Panaych (corporate finance) and Ted Thiessen (tax).

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.