Verisk, a leading data analytics provider, on Aug. 26 signed a definitive agreement to acquire Genscape, a global provider of real-time data and intelligence for commodity and energy markets, wholly owned by DMGT (Daily Mail and General Trust) for $364 million in cash.
Genscape will become part of Wood Mackenzie, a Verisk business, and will enhance Wood Mackenzie’s existing sector intelligence in energy data and analytics.
Genscape operates the world’s largest private network of in-field monitors and distributes industry-leading alternative energy data, delivering market intelligence across the commodity and energy spectrum, including power, oil, natural gas, natural gas liquids, agriculture, biofuels, and maritime freight. This will further enhance Wood Mackenzie’s leading research and consultancy across the natural resources sectors.
“With Genscape joining Wood Mackenzie, our customers will now better understand the defining issues facing key energy commodities—over the long term with Wood Mackenzie’s existing offerings and in the short term through Genscape’s offerings,” Neal Anderson, president, Wood Mackenzie, said. “With the immediacy and global reach of Genscape’s IoT sensors, customers have access to proprietary data analytics.”
The transaction is subject to the completion of customary closing conditions.
Operators are finding value in CO2 recoveries.
The API gravity for extracted crude varies across states, the U.S. Energy Information Administration said.
The industry is taking a wait-and-see attitude until prices improve.