In a presentation to the investment community last month, Calgary-based Sterne Stackhouse’s CEO Ron Sterne announced a name change for the company to Labrador Technologies Inc. to reflect the company’s focus on its core Labrador software offerings.
Sterne Stackhouse (SSI) has been working with AspenTech’s Calgary-based upstream unit Hyprotech to provide enhanced capabilities for AspenTech’s production asset management solution for the oil & gas industry. Under the partnership agreement, Labrador’s Well-LAB production and well test data-flow system will be available as an add-on module for Aspen’s AssetBuilder modeling software. Well-LAB will enable companies using AssetBuilder to access a wide range of commercial and proprietary oil and gas production data sources to feed its integrated asset simulation models.
It automates the process of connecting to real-time production and well test databases that exist within, or external to, an organization. The Well-LAB module is currently in beta test. SSI is porting its Labrador tools to Microsoft’s .Net environment (AspenTech’s platform) but will keep existing Java versions.
Sterne described a rejuvenated and cash positive SSI as an ‘experienced start-up’ with ‘robust, innovative software offerings and experience’. The company is moving forward ‘carefully and methodically’ and is committed to growing and evolving distribution partnerships into immediate revenue generating initiatives.
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