Quantum Energy Partners and Global Reserve Group have led an $11 million equity financing to support the growth of Houston-based oil and gas software company Datagration Solutions Inc.
Through the combination of advanced artificial-intelligence/machine-learing analytics, Datagration focuses on providing oil and gas organizations with enhanced decision-making opportunities to maximize value creation. The company currently delivers PetroVisor™, an open architecture software platform that improves the profitability of upstream operators by aggregating and integrating data from disparate systems into one cloud-based (or on-premise) platform with built-in workflow solutions to complete real-time analytics.
“The next step change innovation for the oil and gas sector is to properly harness the power of data,” Quantum Founder and CEO Wil VanLoh said adding that Datagration’s PetroVisor platform, in particular, will help upstream companies realize this potential.
The financing marks the sixth energy technology venture capital investment that Global Reserve Group has made in partnership with Quantum, according to Jeffrey Harris, who founded Global Reserve Group in 2012 following a 29-year career at Warburg Pincus.
In a statement, Harris said he was drawn to Datagration by the strength of its management team and the quality of PetroVisor, “as we saw it as a tremendously easy to implement solution for E&P companies that could meaningfully and quickly enhance their operational results and cash flow.”
Energy company software industry veterans Peter Bernard, Jorge Machnizh and Ike Epley lead Datagration’s founding senior management team. The company was formerly named Oilsphere Inc.
Bernard, who serves as Datagration Executive Chairman, said the PetroVisor platform increases returns out of legacy brownfield and greenfield reservoirs, and gives engineers more time to make engineering decisions that will improve profitability.
Datagration will use a portion of its new funding from Quantum and Global Reserve Group to build upon the PetroVisor platform by adding value-enhancing workflow automation solutions for upstream operators, according to a company release.
“PetroVisor has already delivered game-changing financial results for many E&P companies and is ready to scale globally,” Bernard said in a statement.
Datagration is a member of the Microsoft “One Commercial Partner Program” and is currently in many worldwide co-sell opportunities with Microsoft Energy. The company is also in Amazon’s AWS Partner Network.
Recommended Reading
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center in the Permian Basin.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
Blackstone Buys NatGas Plant in ‘Data Center Valley’ for $1B
2025-01-24 - Ares Management’s Potomac Energy Center, sited in Virginia near more than 130 data centers, is expected to see “significant further growth,” Blackstone Energy Transition Partners said.
Huddleston: Haynesville E&P Aethon Ready for LNG, AI and Even an IPO
2025-01-22 - Gordon Huddleston, president and partner of Aethon Energy, talks about well costs in the western Haynesville, prepping for LNG and AI power demand and the company’s readiness for an IPO— if the conditions are right.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.