Cordax Evaluation Technologies

What Cordax Evaluation Technologies does

Cordax Evaluation Technologies is a Calgary-headquartered, privately held oilfield services company that provides a proprietary open-hole logging platform called Logging While Tripping (LWT). The LWT system acquires formation evaluation data during pipe trip operations, eliminating the need for separate wireline interventions and the associated Lost-In-Hole risk, radioactive source exposure, and extra rig time. The company serves enterprise oil and gas operators across drilling, workover, and rigless intervention campaigns, with specialized applications including multi-leg lateral wells, saltwater disposal wells, high-temperature wells, water management via time-lapsed logging (SweepVue), and most recently Carbon Capture and Storage (CCS) wells. Cordax's IP base comprises three granted US patents covering multi-material density logging, pumpdown apparatus, and latching mechanisms, plus a pending compensation-of-tools application.

The company's product portfolio centers on the LWT platform and its sub-products (SweepVue, Nuclear Derived Caliper, Multi-Leg Lateral, Saltwater Disposal), supported by Data Processing & Interpretation and Petrophysics Services modules that translate raw LWT data into decision-making reservoir insights. Cordax generates revenue through professional service contracts for LWT delivery, quoted on a per-well or per-project basis typical of B2B oilfield services, with pricing not publicly disclosed.

The go-to-market model is exclusively channel-based: Cordax provides the LWT technology platform to local partners with established sales infrastructure, including BakerHughes, Weatherford, Vinco, and Ionos, plus regional technology partners. This asset-light distribution approach supports operations in North America (USA, Canada), Latin America, the Middle East (UAE), and historically Indonesia, without requiring Cordax to build a direct local sales force in each market.

Name

Cordax Evaluation Technologies

Legal name

Cordax Evaluation Technologies

Website

https://cordax.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Cordax Evaluation Technologies provides a proprietary Logging While Tripping (LWT) open-hole well logging service for enterprise oil and gas operators. It eliminates traditional wireline interventions, reducing rig time, lost-in-hole risk, and radioactive source exposure, delivered globally through channel partners.

Ownership category

akta.pro rank

Product category

Oilfield Well Logging Services

NAICS

Support Activities for Mining (213)

SIC

Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Directional Drilling & MWD/LWD Services (EUALABAB)

Keywords

• Logging while tripping
• Formation evaluation
• Open hole logging
• Well logging services
• Petrophysical analysis

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. LWT Logging Services: Cordax provides Logging While Tripping (LWT) services for open-hole wells, offering a range of applications including drilling, workover, and rigless intervention logging. Revenue is generated through service delivery contracts, likely on a per-well or per-project basis.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Cordax Evaluation Technologies provides proprietary Logging While Tripping (LWT) open-hole well logging services to oil and gas operators worldwide. Its LWT platform acquires formation evaluation data during pipe-trip operations, eliminating the need for separate wireline interventions and reducing operational risk, radioactive-source exposure, and extra rig time. The service is delivered across drilling, workover, and rigless intervention campaigns and is supported by petrophysical interpretation to convert raw log data into reservoir decisions.

Product overview

Cordax Evaluation Technologies offers a single unified product platform called Logging While Tripping (LWT), a proprietary open-hole logging service. The LWT platform serves as the core technology, with specialized services tailored for Drilling, Workover, and Rigless Intervention applications. The portfolio includes sub-products such as SweepVue (water management/time-lapsed logging), Nuclear Derived Caliper (NDCAL), Multi-Leg Lateral logging, and Saltwater Disposal Well (SWD) logging. Supporting service modules include Data Processing & Interpretation and Petrophysics Services, which deliver actionable reservoir insights and decision-making petrophysical information derived from LWT data.

Differentiator

Problem solved

Functional benefit

Products and services

• Logging While Tripping (LWT) Open-Hole Logging Services Proprietary open-hole well logging service that acquires formation evaluation data during pipe-trip operations, eliminating the need for separate wireline interventions. Applicable to drilling, workover, and rigless intervention campaigns across virtually any wellbore profile.
• SweepVue Time-lapsed open-hole logging service for water management applications, enabling operators to monitor and evaluate evolving near-wellbore fluid migration in producing and disposal wells.
• Nuclear Derived Caliper (NDCAL) Caliper logging service delivered using the LWT platform, designed to optimize open-hole packer placement by providing borehole geometry data acquired during tripping.
• Multi-Leg Lateral LWT Logging Specialized LWT logging service for multi-leg lateral wells, enabling data acquisition across complex well geometries including extended-reach and multi-branch wells.
• Saltwater Disposal (SWD) Well Logging LWT logging service that addresses the unique operational and data acquisition challenges of saltwater disposal wells and similar injection/disposal wellbores.
• Drilling Campaign LWT Services Application of the LWT platform for open-hole formation evaluation during drilling campaigns, intended to materially improve drilling efficiency and data quality versus traditional wireline.
• Workover LWT Services LWT logging service applied to workover operations on existing wells to obtain formation evaluation data and inform productivity and intervention decisions.
• Rigless Intervention LWT Services LWT logging service used during rigless intervention operations, enabling open-hole data acquisition without dedicated drilling rig deployment.
• Data Processing & Interpretation Services Post-acquisition interpretive service that converts LWT log data into actionable reservoir insights for operators, supporting completion, workover, and reservoir decisions.
• Petrophysics Services Range of interpretive petrophysical services designed to illustrate decision-making formation and reservoir information derived from LWT-acquired open-hole data.

Quantifiable outcome

• Over 500 wells logged successfully in Canadian market (2010-2015)
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered major, core and supporting.

• WeatherfordmajorStrategic or Co-development Partner · 22 November 2025Cordax completed a Logging While Tripping (LWT) 'Log-Off' operation with Weatherford for a major Canadian client in November 2025, demonstrating commercial collaboration between the two companies.
• BakerHughescoreTechnology or IntegrationBakerHughes is listed as a business partner, indicating a commercial relationship in the formation evaluation services market.
• VincocoreChannel Partner/ Reseller/ DistributorVinco (vincoenergy.com) is listed as a business partner, providing local market presence and distribution for LWT services.
• IonoscoreChannel Partner/ Reseller/ DistributorIonos (ionosdirectional.com) is listed as a business partner, providing directional drilling integration for LWT operations.
• NoHiddenPaysupportingTechnology or IntegrationTechnology partner providing payment or transaction solutions for LWT service delivery.
• AntaressupportingTechnology or IntegrationAntares (antares-geo.de) is a technology partner with world-class knowledge in their field, likely providing geo-spatial or downhole positioning solutions.
• FusionelesupportingTechnology or IntegrationFusionele is listed as a technology partner, providing specialized technology integration for LWT applications.
• GeneralDownholesupportingTechnology or IntegrationGeneralDownhole is a technology partner providing downhole drilling tools that facilitate LWT in unique applications.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SLB (formerly Schlumberger): World's largest oilfield services company with a market-leading wireline open-hole logging portfolio and extensive global infrastructure. Directly comparable as the dominant incumbent in the formation evaluation space where Cordax competes with its LWT platform.
• Halliburton: Major oilfield services company offering wireline logging, drilling, and evaluation services through its Landmark and Halliburton Logging Services lines. Comparable to Cordax as a direct competitor in open-hole formation evaluation, with vastly larger scale.
• Baker Hughes: Global oilfield services and industrial energy technology company with a comprehensive logging-while-drilling and wireline portfolio. Comparable to Cordax in formation evaluation services; also a listed Cordax channel partner, illustrating the overlap.

Direct peers

• Weatherford International: Oilfield services company offering open-hole logging, drilling, and completions services globally. Comparable to Cordax as a direct competitor and current commercial partner (joint Log-Off operation in 2025), with overlapping customer accounts in Canada and the Middle East.
• Expro Group: Provider of energy services to the global oil and gas industry with expertise in well construction, well flow management, and well intervention and integrity. Comparable to Cordax as a specialized well services peer with overlapping open-hole logging and intervention capabilities.
• Pioneer Energy Services: Oilfield services provider offering drilling and wellsite services including formation evaluation and downhole tools. Comparable to Cordax in the open-hole logging space, serving similar upstream customers.
• Scientific Drilling International: Provider of directional drilling, measurement-while-drilling, and downhole technology solutions for the oil and gas industry. Comparable to Cordax as a niche peer in downhole measurement and wellbore services, though more focused on directional drilling than logging.
• Gyrodata: Specialized provider of wellbore surveying, directional drilling, and downhole measurement services. Comparable to Cordax as a niche, technology-led oilfield services peer with overlapping wellbore positioning and evaluation offerings.
• Welltec: Global provider of well intervention and conveyance technology services to the oil and gas industry, including robotic downhole tools. Comparable to Cordax as a peer in advanced downhole well intervention and logging with proprietary technology.
• Probe Holdings: Provider of cased-hole and open-hole logging, perforating, and wellsite services to the oil and gas industry. Comparable to Cordax in open-hole and cased-hole formation evaluation services, serving similar E&P customers.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cordaxsolutions
• LinkedInlinkedin.com/company/cordax-evaluation-technologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cordax Evaluation Technologies