ZenaTech's DaaS Oil and Gas Business Enters a Strengthened Market with Higher Oil Prices and More Than US$500 Billion in Expected Canadian Energy Investment Over the Next Decade
VANCOUVER, British Columbia, July 30, 2026 (GLOBE NEWSWIRE) -- ZenaTech, Inc. (Nasdaq: ZENA) (FSE: 49Q) (BMV: ZENA) ("ZenaTech"), a technology solution provider specializing in AI (Artificial Intelligence) drone, Drone as a Service (DaaS), enterprise SaaS, and Quantum Computing solutions, provides an update on its energy sector field services operations in Western Canada. The Company's recent acquisition, Velocity Geomatics, providing drone-based regulatory and environmental surveys to oil and gas producers, is entering a strengthened market with recent oil price increases of over 45% in the second quarter versus the same period last year, alongside Canada's oil and gas industry expected to attract more than US$500 billion in investment over the next decade.
"Our Drone as a Service business is a field services business that follows customer activity–when producers in Alberta, British Columbia, and Saskatchewan have more cash flow, they drill more wells," said Shaun Passley, Ph.D., Chairman and Chief Executive Officer of ZenaTech. "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. Looking ahead, we also believe current trends and strong forecasts for continued investment in Canada's energy sector will provide a long-term tailwind to expand our Drone as a Service business in Canada as well as globally. Approximately 80% of Velocity's current projects already utilize drone-based workflows, providing an established platform along with an established customer base to further scale our drone-enabled services."
In July 2026, ZenaTech completed the acquisition of Velocity Geomatics, known as the Velocity Group, based in Grande Prairie, Alberta. It is the Company's first acquisition focused specifically on geomatics for environmental and regulatory compliance in oil and gas. Velocity operates from four offices across Alberta, British Columbia, and Saskatchewan. It serves leading regional and international oil and gas producers.
Publicly reported industry data shows that cash flow available to Western Canadian producers has increased materially year-over-year. According to [Oil Sands Magazine](https://www.globenewswire.com/Tracker?data=d3os6OsgJC2bZYAqSaz1cRLq0oYrIh-r7eFno0hIzH14ufR0uncIxIuDJHuAVdUck8vEFuFXj3Wcy_IVHR4OyjR-GUFImYksdzvUVvng6oDlWO1GCso10AXF5wRKinZRQwWOF6z2hNwdLt7Zr5Vcxll4IkfIwGzrCdxdsejefWg=), 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, supporting stronger cash flow across Western Canadian energy producers.
Western Canada's energy sector represents a significant growth opportunity for Drone as a Service. According to [Royal Bank of Canada (RBC)](https://www.globenewswire.com/Tracker?data=7yT4_mNoiqMAXCbrc7Shjivtsvprv9YBU22hFgsaQY2pzU2TJgH3sczO_47IDCpdAONVdKV-yYDo4yvu1kYEPWWq1-L0jnMyFz6madHGRR7CSaqRyZivk5DyvtXlyYjFAAaDF_Fps0HklIvtmXc5lsIndoCv-OhJxPixsjWq4i4gj8W1QqQQwXQ2itbyv5pvak9TjrholSZJOapBxRFEqSO_-mDMAXoxguvTiDKrCOKARZ-MRVZRk78g7fm0xY9QkGSwW2QbKJ41CqnNxU7mHYMUs5_MYWnrVjlHD-Yfras=), Canada's oil and gas industry is expected to attract more than US$500 billion in investment over the next decade, driven by growing energy demand, expanded export capacity, and continued infrastructure and environmental investment. While higher oil prices are supporting increased customer activity today, these long-term trends are expected to drive sustained demand for drone-enabled surveying, inspection, mapping, and environmental monitoring services, potentially supporting the continued expansion of ZenaTech's DaaS business.
Oil and gas producer investment can directly translate into demand for Drone as a Service offerings due to new drilling, enhanced recovery, infrastructure expansion, and environmental programs require recurring surveying, mapping, inspection, monitoring, and regulatory compliance services. Asset retirement and reclamation projects are particularly attractive because they are driven by regulatory requirements rather than discretionary spending, creating resilient demand across commodity cycles.
[https://finance.yahoo.com/energy/articles/zenatechs-daas-oil-gas-business-120000908.html](https://finance.yahoo.com/energy/articles/zenatechs-daas-oil-gas-business-120000908.html)