Petroleum Information/Dwights acquired by IHS

Dec 31, 1997 01:00 AM

Information Handling Services Group, a leading international information database publishing group, announced the acquisition of Petroleum Information/Dwights LLC ( "PI/Dwights"), based in Houston with operations in Denver, Dallas, New Orleans, Oklahoma City, Tulsa, Midland, Canada and the United Kingdom.
The result of a recently completed merger of Petroleum Information Corp. and Dwight's Energydata Inc., PI/Dwights is the leading source of information on oil and gas production and well history data across North America and in the North Sea.
PI/Dwights' proprietary databases incorporate vast amounts of information from more than 2.9 million oil and gas wells and constitute by far the largest, most complete, data repositories of their kind. Most major and independent oil companies active in the U.S., Canada and the North Sea rely on PI/Dwights' databases to identify drilling locations, and to track oil and gas leases, drilling and production activities, and their competition.
PI/Dwights is also a leading provider of value-added database services and related software solutions to the oil and gas industry. Michael J. Timbers, chairman and CEO of IHS Group, described the acquisition of PI/Dwights as a "natural extension of IHS Group's acquisition last year of Petroconsultants, the leading supplier of information on oil and gas exploration and production activities outside of PI/Dwight's core North American markets."
As a result of these two acquisitions, energy information represents IHS Group's second largest revenue stream, after its engineering information businesses. PI/Dwights and Petroconsultants have combined annual sales of more than $ 110 mm and 900 employees.
PI/Dwights and Petroconsultants share strong sales and operating synergies. Where appropriate, each company will develop database products across common software platforms, enabling customers active in several geographic markets to manage, evaluate and exploit all exploration and production information froma single solution. Both companies will also cross-sell each others' data products and services, combining common sales operations in Houston and the UK. Ivey is "very excited by the potential to cooperate with Petroconsultants to offer the oil and gas industry improved data products and services, and expand on both companies' excellent relationships with individual oil and gas companies." He expects "PI/Dwights' aggressive development programme to benefit from IHS Group's commitment to continued growth and its excellent financial standing."
The proposed partnership of PI/Dwights and Petroconsultants represents a "wish come true" for Christian Suter "after years of trying to find ways to collaborate with Petroleum Information and Dwight's Energydata, thanks to IHS Group's plans to develop a worldwide energy information business we are finally able to offer our customers a truly global information solution."

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