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» News & Insight » Press Releases » Westwood Global Energy Group announces acquisition of RigLogix – a premium oil and gas data services platform
Feb 27 2018
(Aberdeen, UK) – Tuesday, 27th February 2018 – Westwood Global Energy Group (Westwood), an energy research, analysis and consulting specialist for exploration and oilfield services markets, announced today that it has acquired RigLogix from DHI Group, Inc (NYSE: DHX).
RigLogix is a premium data services platform for the oil and gas industry. The platform offers on demand access to real time data and analysis for the global offshore rig market. The comprehensive service includes data and analysis of the historical, current and projected offshore rig fleets.
Andrew Reid, CEO of Westwood Global Energy Group commented; “With the acquisition of RigLogix we inherit a strong, global team and capability, which is highly complementary to the wider Westwood Group offering.”
The acquisition is another key step in the development of Westwood and enhances the Group’s Research and Consulting capability across exploration and oil field service markets.
“RigLogix is the sixth acquisition for Westwood and supports our strategic objective of creating a larger group of Upstream market intelligence products with real depth in niche markets”, said Andrew Reid. He added, “Our ambition to have embedded services with our clients is also secured and post-acquisition over 70% of Group revenue subscription based.”
Michael Durney, President and CEO of DHI Group, Inc., stated; “This is an exciting new venture for RigLogix which is a premium data services leader with an unmatched position in the oil and gas industry. The acquisition by Westwood Global Energy, who have a firm footing in the global energy market analytics space, will allow RigLogix to thrive, benefited by a new home that complements its comprehensive insights and innovative on-demand data.”
AGC Partners served as the exclusive financial advisor for DHI Group Inc for the transaction.
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Notes to Editors
About Westwood Global Energy Group (Westwood)
Westwood Global Energy Group is a leading provider of research, data analytics and consulting services to the global energy industry. Whilst we focus primarily on intelligence and insight for the worldwide exploration and oilfield services markets, our coverage also extends to the offshore renewables and power generation markets. Our analysis is independent, comprehensive and based on deep sector knowledge.
Westwood Global Energy was formed in January 2015 by Energy Ventures, an energy specialist private equity firm with a vision to build a leading player in the business intelligence and data analytics space. Following an active period of acquisitions, the group has combined the operations of a number of specialist research and consulting providers that have been active in the sector for decades, namely Hannon Westwood, Richmond Energy Partners, Novas Consulting, Douglas-Westwood and Energent Group Software LLC. Westwood Global Energy Group is headquartered in Aberdeen and has offices in London, Houston and Singapore.
To learn more, please visit www.westwoodenergy.com