(Source: Datamonitor)
IHS, a provider and source of critical information and insight, has acquired the product portfolio of Divestco USA, a strategic provider of comprehensive data and analytical tools for the oil and gas industry, for approximately $3 million in cash.
Formed in 2005, when its Calgary-based parent company Divestco acquired Petro Data Source and Canamera, Divestco USA's portfolio consists of drilling records, permits and rig activity, production data and public land survey information.
This data reportedly enables engineers, geo-scientists, financial analysts, service companies, and others involved in the oil and gas industry to make faster and better informed business decisions.
Jerre Stead, chairman and CEO of IHS, said: "This acquisition will significantly expand our energy product and service offerings through the integration of Divestco USA's drilling records, rig activity and other oil and gas databases. New technology is making the exploitation of unconventional resources possible, and Divestco's information is a critical component for understanding best practices in horizontal and directional drilling."
