PrePad
PrePad provides a cloud-based physics simulation SaaS platform for oil and gas operators to plan, optimize, and pressure-test drilling and completions decisions before committing capital. It serves North American E&P companies from supermajors to mid-cap independents.
- Company typePrivate
- Founded2021
- HeadquartersCalgary, Canada
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What PrePad does
PrePad (legally First Step Analytics Ltd.) is a Calgary-based SaaS company founded in 2021 by former Shell engineers Sean Hervo and Brandon Eidson, building on the internal 'Integrated Systems Model' they developed at Shell. The company operates a cloud-based physics simulation platform whose core differentiator is what it describes as the industry's only completions process simulator — a discrete-event engine that captures pumping physics, contract pricing logic, and spread utilization to model well delivery. The platform has expanded from an initial Completions module (2022) to include Drilling, Reservoir, and Economics modules (2023), with workflow solutions spanning capital lifecycle management, execution optimization, and asset development optimization. Models are field-calibrated to operator-specific data and validated to within 1% of historical cost and cycle time.
PrePad sells exclusively through a direct, consultative enterprise sales motion anchored by a VP Sales & Client Success team, with annual subscription pricing that is quote-based and not publicly disclosed. Customers are North American oil & gas E&P operators, including supermajors (Chevron, Shell Canada), large independents (Devon Energy, Coterra Energy, Whitecap Resources, Birchcliff Energy, Teine Energy), and mid-cap operators (Artis Exploration, Cygnet Energy, Tourmaline). The company has a Houston office in addition to its Calgary headquarters to support US expansion. Strategic investors include Devon Energy (strategic lead of the April 2025 US$2.8M seed round, board observer seat) and Chevron Technology Ventures (Catalyst Program participant), with non-dilutive funding from Alberta Innovates, BDC, and NRC IRAP. Total capital raised to date is US$3.7M.
PrePad firmographics
Firmographics- Name
- PrePad
- Legal name
- First Step Analytics Ltd.
- Website
- https://prepad.io
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PrePad provides a cloud-based physics simulation SaaS platform for oil and gas operators to plan, optimize, and pressure-test drilling and completions decisions before committing capital. It serves North American E&P companies from supermajors to mid-cap independents.
- Ownership category
- akta.pro rank
PrePad industry classification
Industry- Product category
- Oil & Gas Drilling and Completions Simulation Software
- NAICS
- Mining and Oil and Gas Field Machinery Manufacturing (33313), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)
- SIC
- Services-Prepackaged Software (7372), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE)
- akta.pro secondary industry
- DevOps, SRE & Platform Engineering (CI/CD, IaC, Containers) (EDABAFAC)
Keywords
Where PrePad is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
PrePad business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Software Subscriptions: Primary revenue stream from client software subscriptions. Operators subscribe to the cloud-based platform with modules for completions, drilling, reservoir, and economics. Subscription model with the company able to convert growing share of target market into active users.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise SaaS subscription — pricing not publicly disclosed, likely tiered by operator size, pad count, and module scope. |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels6 records
PrePad product offering
Product offeringCore offering
PrePad sells a cloud-based SaaS completions process simulator for oil and gas operators that uses a proprietary discrete-event engine to model pumping physics and contract pricing logic. The platform unifies drilling, completions, reservoir, and economic simulations so operators can pressure-test well designs, compare thousands of scenarios in minutes, and quantify trade-offs among cost, cycle time, production, and risk before committing capital.
Product overview
PrePad is a unified cloud-based SaaS platform offering physics-based simulation for well delivery planning. The platform comprises a core PrePad Platform with four integrated modules: Completions Module (the flagship and first-mover, simulating the completions process), Drilling Module, Reservoir Module, and Economics Module. These modules work together to unify drilling, completions, and development decisions, enabling teams to quantify trade-offs across cost, time, and production. The platform also includes three workflow solutions: Capital Lifecycle Management, Execution Optimization, and Asset Development Optimization. PrePad positions itself as the industry standard for drilling and completions software, having established a new market category for well delivery simulation.
Differentiator
Problem solved
Functional benefit
Products and services
- PrePad Platform Cloud-based SaaS simulation platform that unifies drilling, completions, and development decisions in a single physics-based environment, enabling teams to resolve trade-offs earlier, commit capital with confidence, and produce structured data that powers analytics and AI.
- Completions Module Industry's only completions process simulator that captures pumping physics and contract logic to model cost and time at every decision point, helping operators discover optimal trade-offs among production, cost, cycle time, emissions, and risk.
- Drilling Module Module that integrates with the PrePad platform to simulate drilling operations as part of the unified well delivery planning system.
- Reservoir Module Module that integrates with the PrePad platform to simulate reservoir considerations as part of the unified well delivery planning system.
- Economics Module Module that integrates with the PrePad platform to simulate economic outcomes as part of the unified well delivery planning system, enabling operators to quantify cost, time, and production interdependencies.
Quantifiable outcome
- 2-year free cash flow increased by $500,000 per well for a Canadian mid-cap operator
- +3 more outcomes
Companies that use PrePad
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles2 records
PrePad technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
PrePad partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Rice Alliance for Technology and EntrepreneurshipminorThe Rice Alliance for Technology and Entrepreneurship at Rice University collaborated with SPE to organize the ATCE Startup Village competition, where PrePad won Best in Show in October 2025.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
PrePad competitors and assessment
Company assessmentDirect peers
- Quorum Software (formerly 3esi-Enersight): Quorum Software is the closest direct competitor to PrePad, offering oil & gas production and operations planning software. Acquired 3esi-Enersight (where PrePad angel investors Deane Stewart and Dan Magyar worked) and Aucerna (where PrePad CTO Kohl Meister worked), giving it deep overlap with PrePad's domain and talent pool.
- Computer Modelling Group (CMG): CMG provides reservoir simulation software for the oil & gas industry, overlapping with PrePad's Reservoir Module. PrePad VP Sales Ryan Schneider was previously CEO of CMG, making this a tightly connected peer with similar E&P operator customers and physics-based simulation heritage.
- P2 Energy Solutions: P2 Energy Solutions offers upstream oil & gas operations, accounting, and production software used by E&P operators and CPAs. Targets a similar customer base with workflow software for capital planning and field operations that overlaps with PrePad's Capital Lifecycle Management use cases.
Broad incumbents
- SLB (Schlumberger) — DELFI E&P Platform: SLB's DELFI cognitive E&P environment is a broad, integrated oil & gas software platform covering exploration, drilling, and production. While not focused narrowly on completions simulation, DELFI competes for the same E&P software budget and includes upstream planning modules adjacent to PrePad's scope.
- Halliburton — Landmark DecisionSpace: Halliburton's Landmark DecisionSpace is an established enterprise software suite for oil & gas operators covering drilling, geology, and reservoir workflows. Competes with PrePad indirectly via integrated E&P software suites that include planning and simulation functionality.
- RigNet (now part of Viasat Energy): RigNet (acquired by Viasat) provides communications, networking, and digital solutions to oil & gas operators with software for rig and field operations. Broader in scope than PrePad but serves overlapping E&P digital transformation budgets.
Emerging players
- Tachyus: Tachyus applies AI and physics-based modeling to oil & gas reservoir and production optimization. Serves similar upstream E&P customers and overlaps with PrePad's Reservoir and Economics modules in optimizing well and field-level economics.
- Aucerna (now part of Quorum): Aucerna was a Calgary-based upstream oil & gas planning software company acquired by Quorum Software. Its former employees (including PrePad CTO Kohl Meister) connect it directly to PrePad's heritage, and its product line overlapped with PrePad's planning and economics modules.
- Acceleware: Acceleware provides software and seismic processing technology for the oil & gas industry. Co-founded by PrePad VP Sales Ryan Schneider (TSX:AXE), giving it an indirect connection to PrePad's leadership and a comparable focus on computational tools for upstream workflows.
Others
- Darcy Partners: Darcy Partners is an energy technology market intelligence and advisory firm that recognized PrePad as a Top Oil & Gas Innovator. While not a product peer, it is part of the broader digital oilfield ecosystem and connects operators with emerging technology vendors like PrePad.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PrePad social profiles
Digital presencePrePad compliance and trust
Trust signalCompliance1 record
PrePad financial estimates
Financial estimateRevenue estimate
Valuation estimate
PrePad leadership team
Management profileNumber of profiles
Profiles8 records
PrePad funding detail
Funding detailFunding overview
Funding rounds2 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PrePad M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PrePad
What does PrePad do?
PrePad sells a cloud-based SaaS completions process simulator for oil and gas operators that uses a proprietary discrete-event engine to model pumping physics and contract pricing logic. The platform unifies drilling, completions, reservoir, and economic simulations so operators can pressure-test well designs, compare thousands of scenarios in minutes, and quantify trade-offs among cost, cycle time, production, and risk before committing capital.
Is PrePad a public or private company?
PrePad is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PrePad founded?
PrePad was founded in 2021. It employs 1 to 10 people.
Where is PrePad based?
PrePad is headquartered in Calgary, Canada, in the North America region.
How does PrePad make money?
One revenue line is on record: saaS Software Subscriptions.
Who are PrePad's main competitors?
Direct peers on record are Quorum Software (formerly 3esi-Enersight), Computer Modelling Group (CMG) and P2 Energy Solutions. Broad incumbents are SLB (Schlumberger) — DELFI E&P Platform, Halliburton — Landmark DecisionSpace and RigNet (now part of Viasat Energy). Emerging players are Tachyus, Aucerna (now part of Quorum) and Acceleware. Darcy Partners is listed as an others.
Does PrePad have an API?
No public API is recorded for PrePad.
What industry is PrePad in?
PrePad's product category is Oil & Gas Drilling and Completions Simulation Software. Its primary akta.pro industry code is EUALAAAE, Well Completions & Stimulation (Hydraulic Fracturing, Sand Control), with a secondary code of EDABAFAC, DevOps, SRE & Platform Engineering (CI/CD, IaC, Containers). Its NAICS code is 33313 and its SIC code is 7372.