Getech, a geoscience data provider for the oil, gas and mining exploration sectors, completed an agreement to acquire the issued share capital of Exprodat Consulting, a geographical information systems software provider for the oil and gas industry, Getech said June 14.
Getech will pay London-based Exprodat 250 thousand British pounds upon deal completion, and will issue about 4.66 million of its own shares. The acquisition is valued at about 1.76 million British pounds--Exprodat's gross assets total about 1.57 million British pounds with net assets of 1 million British pounds.
Getech will acquire Exprodat from its existing shareholders, Gareth Smith, Nicholas Cribbens, Christopher Jepps, Julie Cullen and Ross Smail.
The acquisition by Genstar follows Drillinginfo’s recent addition of transaction-tracking businesses 1Derrick and PLS to its offerings.
Part II of our outlook for oil and gas in 2018 features five experts discussing industry trends and challenges for the year ahead.
Sinking oil prices are turning distressed U.S. energy companies, such as Gastar Exploration, Parker Drilling and Waypoint Leasing, into takeover targets for opportunistic private investors.