Westwood Global Energy Group expands North American offering for the unconventional market
- Westwood Global Energy Group acquires Energent Group Software LLC (EGS), a market research firm providing evidence based insight and research offerings for the US onshore market.
- The acquisition is part of Westwood’s development strategy to support Oilfield Service companies, Exploration & Production companies, and market analysts with actionable intelligence on emerging trends and activity in the unconventional market.
- Energent’s powerful platform and rich information analytics paired with Westwood’s market forecasting provides a strong proposition, offering a best-in-class solution for customers.
Thursday, 6th April 2017 – Westwood Global Energy Group, the private equity-backed group of energy research, analysis and consulting companies, announced today the acquisition of Houston-based market research firm, Energent Group Software LLC. Westwood’s strategic vision is to create best-in-class solutions for its customers. The addition of Energent’s information and analytics platform, plus industry specialist analyst team expands significantly Westwood’s capabilities in the onshore US market.
The acquisition is a key step and brings to the fold proprietary and detailed well-lifecycle data that includes drilling pad trends, well completions metrics, frac sand, and downhole chemicals complemented by insightful analysis and interpretation. Gavin Prise, Chairman of Westwood Global Energy Group explained; “The acquisition of Energent is an important step in the formation of Westwood, as developing our presence and capability in the US market is a principal component of our vision.
“Energent’s shared values and approach to research makes them an ideal partner for us. Also, Energent’s powerful platform and rich information analytics paired with Westwood’s market forecasting provides a strong proposition. This is a truly exciting step for the Group and our strategic vision to create best-in-class solutions for our customers.”
Todd Bush, Founder of Energent commented; “We set out with a vision to build a market intelligence offering tailored to oilfield service the unconventional Oil & Gas clients. Our goal was simple; to offer data, analysis, and insights beyond other solutions available today. Through that journey, we have found a partner who shares our vision, and can assist with deepening and accelerating the delivery of that vision to the benefit of our oilfield service & operator clients. The combination of Westwood and Energent will create a powerful offering for gaining data-driven insights into the US shale market and we are excited about the potential.”
David Clark, Chief Financial Officer, Westwood Global Energy Group noted; “We set out with a vision to build our North American presence identifying Energent as a truly like-minded business. Their vision to evolve beyond information into actionable intelligence and analysis, which supports investment decision making and business development, is what made the business stand out for us. We see tremendous potential to combine our global capability and expertise with Energent’s detailed US understanding to offer a distinct proposition for the US market.”
Westwood Global Energy Group is headquartered in Aberdeen with offices in London, Houston and Singapore and has over 60 employees. The Group aims to continue to develop its global capability through a combination of organic development and investment together with further acquisitions of like-minded organisations.