ZenaTech acquires Velocity Geomatics amid rising Canadian oil prices

ZenaTech, Inc. (Nasdaq: ZENA) completed the acquisition of Velocity Geomatics, also known as the Velocity Group, in July 2026. The company, based in Grande Prairie, Alberta, provides drone-based regulatory and environmental surveys to oil and gas producers across Alberta, British Columbia, and Saskatchewan.

The acquisition marks ZenaTech's first purchase focused specifically on geomatics for environmental and regulatory compliance in the oil and gas sector. Velocity operates from four offices and serves regional and international oil and gas producers.

According to Oil Sands Magazine, average WTI and Western Canadian Select crude prices during the second quarter of 2026 were approximately 45% higher than the same period a year earlier. The company said approximately 80% of Velocity's current projects already use drone-based workflows.

"Higher oil prices are improving cash flow for producers today, supporting drilling, infrastructure, reclamation and environmental compliance work that drives demand for our surveying and inspection services," said Shaun Passley, Ph.D., Chairman and Chief Executive Officer of ZenaTech.

According to Royal Bank of Canada, Canada's oil and gas industry is expected to attract more than $500 billion in investment over the next decade, driven by growing energy demand, expanded export capacity, and infrastructure and environmental investment.

This report is based on a press release issued by ZenaTech, Inc.

You May Also Be Interested In

• ZenaTech plans drone-powered franchise for power washing services
• Bitmine reports 5.93 million ETH holdings, total assets of $15.7B
• BMO on Enbridge (ENB): 'we do not expect a material change in long-term growth priorities'