Drillinginfo acquires research and database business, expands market analysis and deal valuation

Drillinginfo has acquired 1Derrick and PLS's research and database business, two highly visible companies in the oil and gas industry that offer solutions for sourcing, valuing, and analyzing asset and corporate transactions.

The acquisitions position Drillinginfo to deliver intelligence on oil and gas mergers, acquisition, divestment transactions, lending activity, equity investments and assets currently for sale, the Texas-based company said.

"For more than a century, the oil and gas industry has been led by risk-takers who didn't always have information at their fingertips like we do today. Presently, merger and acquisition (M&A) deals set off a chain reaction of time-sensitive news and companies must be ready to take advantage of the opportunities,” Jeff Hughes, CEO and president of Drillinginfo, said in a statement.

“We've been looking to acquire PLS and 1Derrick since 2016, to fulfill our vision to deliver a comprehensive platform for quickly identifying and valuing transaction opportunities in the US and across the world and providing clarity on what to do next," he said.

While PLS and 1Derrick both deliver state-of-the-art intelligence on M&A transactions, private equity ownership and investor presentations, they offer unique products as well, such as historic and planned pipeline information, scouting reports and energy lending benchmarks, Drillinginfo said. It will combine those offerings with its web and mobile platforms to enable customers to get answers directly instead of collecting and combining data feeds.

"As a company that takes pride in embracing new technology, this announcement is exciting," said customer Chris Menefee, vice-president of Independence Contract Drilling. "Bringing these services together should save us a lot of valuable time spent exporting data from multiple sources when evaluating market activity. The addition of leading M&A intelligence should instantly add tremendous value to the DI suite of products."

Drillinginfo said the acquisitions will also allow it the ability to expand its audience base to anyone interested in "big picture" M&A and acquisition and divestiture (A&D) activity.

"CEOs, CFOs and investors all need immediate intelligence and clear analysis on M&A and A&D activity. Drillinginfo's integrated solution will help decision makers cement their decisions quickly because they are backed by the industry's best-in-class data sources within a SaaS analytics platform," added Colin Westmoreland, senior vice-president and general manager.

"PLS and 1Derrick have talented teams with strong industry knowledge and relationships," continued Westmoreland. "Leveraging their capabilities with our team will enable us to collectively accelerate the value we provide, and our clients are going to win big here. The whole is greater than the sum of its parts."

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