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LITTLETON, Colo., Feb. 21, 2019 (GLOBE NEWSWIRE) -- EnergyIQ, the leader in data management solutions for the oil and gas industry, today announced the acquisition of key assets from petroWEB including the EnterpriseDB, Navigator, and Gateway platforms.
Steve Cooper, CEO of EnergyIQ, said: “This acquisition represents an important step in the long-term growth strategy of EnergyIQ. It expands our footprint in North America and internationally with a strong customer base and new prospects. From a product perspective, we will immediately leverage decades of domain knowledge in the form of advanced wellbore and log data management functionality and map-based visualization tools. As companies increasingly look to drive business growth through data sciences and analytics, this acquisition further enhances EnergyIQ’s position as the leading data management platform delivering trusted data to the oil and gas industry.”
EnergyIQ’s Trusted Data Manager (TDM) blends key well lifecycle information including commercial, public, and proprietary sources into a vendor agnostic, standards-based platform. TDM’s focus on data governance and quality ensures the knowledge of the business is captured and leveraged to deliver trusted data streams for analytics, geospatial workflows, and Geology, Geophysics and Petroleum Engineering (GG&E) application consumption to drive business growth.
Integration of the petroWEB EnterpriseDB functionality will immediately extend the GG&E data management capability of TDM in addition to providing sophisticated data loading and export workflows. The Navigator platform delivers extensive GIS spatial analysis functionality which, when Integrated with EnergyIQ’s innovative search and visualization platform, IQinsights, will deliver an industry leading user experience based on decades of upstream oil and gas knowledge, industry best practices, and leading-edge data architecture and technology.
“The acquisition of these assets by EnergyIQ is a great outcome for our customers as both platforms are based upon the PPDM data model and have a similar architectural approach that makes the transition straightforward,” said Gina Godfrey, petroWEB Founder & CEO. “EnergyIQ’s strategy, product roadmap, and thought leadership will benefit the petroWEB customers for years to come.”
Several long-term petroWEB support and development personnel will be joining EnergyIQ as part of the acquisition. Their extensive domain and technology experience will ensure a seamless transition for customers and accelerate the integration of the platforms. They will add further depth to EnergyIQ’s growing team that has built a strong reputation as industry experts in solution design, delivery, and ongoing support.
EnergyIQ creates information certainty in an uncertain E&P world. For over a decade, leading oil and gas operators have relied on EnergyIQ to help them effectively and efficiently manage, grow and adapt to change in the cyclical energy market. EnergyIQ solutions help customers improve organizational efficiency, productivity and effectiveness based on trusted data, automated workflows and advanced analytics. EnergyIQ’s Solutions maximize the value of information, grow trust and confidence in decision making, and lowers the cost of enterprise information. The company serves clients around the world from offices in Houston, Calgary and Littleton, Colorado.
VP Business Development