Enverus agreed on Feb. 12 to acquire rival RS Energy Group in a transaction merging the leading SaaS innovators in the energy industry.

The companies, both backed by private equity firms, didn’t disclose the terms of the transaction. However, a report by Bloomberg in early January gave the deal a roughly $1 billion valuation citing people who asked not to be identified.

For more than 20 years, each Enverus and RS Energy has independently established a reputation for innovation through their offerings of analytics, intelligence and technology, which Jeff Hughes, CEO and president of Enverus, expects the combination will bolster. 

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access
Need more than one account? See Group Subscription options