Enverus, the leading energy SaaS and data analytics company, said on Aug. 28 that it had acquired about 200,000 geological well datasets from Reservoir Visualization Inc (RVI).
The expansion quadruples Enverus’ interpreted well log catalog and is the first announcement since the company changed its name from Drillinginfo earlier this month.
Enverus’ products are known for their strong scientific foundation and commitment to complete transparency. The announcement on Aug. 28 follows a long line of investments in sub-surface expertise, including a recently released product pioneering well-spacing and parent-child relationships between wells, two of the most important topics in the oil and gas industry as operators transition from delineation to developmental drilling programs.
Fringe and infill areas of today’s most prolific basins, emerging plays, and specialty areas will all benefit significantly from these expanded datasets, as will the derivatives that are produced from this influx of additional data. As an example, more landing zones and wellbore statistics of higher precision will expand Enverus’ geographical areas of coverage.
“Not all data are created equal,” said Jimmy Fortuna, who is senior vice president of products at Enverus. “RVI shares Enverus’ commitment to quality geologic interpretations as the basis for advanced analysis, making this acquisition an ideal fit for both companies. These assets are core to the work our customers are focused on, as well as instrumental in their field development plans.
“It’s a significant addition to our existing, robust geologic and engineering assets, and makes Enverus one of the largest interpreted dataset holders in the market.”
The deal adheres to a plan W&T Offshore outlined earlier this year as necessary to drive increased shareholder value from acquisitions, says CEO Tracy W. Krohn.
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