HSB Solomon Associates (Solomon), a performance improvement company for the global energy industry and a subsidiary of The Hartford Steam Boiler Inspection and Insurance Company (HSB), has acquired Ziff Energy Group, an international energy consulting firm. The transaction adds global energy exploration and production benchmarking and North American natural gas forecasting to Solomon’s suite of products and services.
“Solomon and Ziff Energy share similar cultures and a focus on helping clients achieve excellence through the measurement and analysis of operational performance,” said Greg Barats, president and chief executive officer of Hartford Steam Boiler, part of Munich Re, and chairman of HSB Solomon Associates. “We can now deliver a full range of benchmarking and consulting services across the entire oil and gas supply chain for the world’s largest energy providers.”
The terms of the transaction were not disclosed.
Ziff Energy, with offices in Houston and Calgary, Alberta, focuses principally in two areas: exploration and production studies across 40 countries covering more than 4,300 production fields and gas services in North America. Its gas services include in-depth analysis of North American and regional markets, gas and liquids supply, transportation, midstream, storage, regulatory affairs, and long-term gas pricing forecasts.
“Over the past 30 years Ziff Energy has established itself as a leader in energy exploration and production benchmarking and outlook services for the North American natural gas market,” said Paul H. Ziff, chief executive officer of Ziff Energy. “By combining with Solomon we can further expand our offerings geographically and develop new services for our clients.”
With the acquisition HSB Solomon Associates now offers benchmarking services for exploration and production, natural gas, pipelines and terminals, refining, chemicals, and power generation, as well as consulting services across each of these energy industry segments. HSB Solomon Associates helps its energy industry clients achieve greater efficiencies, reliability and improved margins.