Drillinginfo Inc., a provider of SaaS-based decision-support technology for the upstream oil and gas industry, has acquired Denver-based Transform Software & Services Inc., a provider of analytic interpretation and modeling. Details of the transaction were not disclosed.
“We’ve been watching Transform’s breakthrough technology evolve over the last few years, especially in today’s unconventional oil and gas plays. Hands down, their work is a multiyear leap forward relative to the rest of the industry and will be integral to our product strategy going forward," said Allen Gilmer, CEO and chairman of Drillinginfo.
Founded in 2004, Transform has developed an analytics-based approach for visualizing, modeling, interpreting and quantifying oil and gas reservoirs. Its suite of geophysical, geological and engineering software is aimed at delivering improvements for drilling and production optimization. According to Transform, its technology suite is the only software of its kind created to meet the challenges of unconventional oil and gas reservoir development.
“The unique combination of Drillinginfo’s SaaS platform and industry-leading oil and gas exploration and production data, paired with Transform’s deep technical and analytic tools, will enable E&P companies to make much faster and better oil and gas decisions,” Gilmer continued.
Austin, TX-based Drillinginfo will retain Transform’s Denver-based office and all of its employees. Transform’s CEO and co-founder, Dean Witte, PhD, an industry veteran and geophysicist, has been named senior vice president of research for Drillinginfo and CEO of the Transform division. Murray Roth, Transform’s president and co-founder, is now vice president of worldwide consulting for Drillinginfo and president of the Transform division.
Murray Roth, president of Transform, added, "We look forward to enhancing our customers' analytic and interpretation results with the breadth of Drillinginfo data, enabling more accurate sweet spot targeting and more efficient well optimization."
Vaquero Capital served as the mergers and acquisitions advisor to Drillinginfo on the transaction.