PennWell Corp., a diversified global media and information company, has acquired PNEC, the Petroleum Network Education Conferences, from Philip C. Crouse & Associates Inc. and entered into a consulting agreement with Cindy R. Crouse for the operation of the annual event based in Houston and next scheduled for May 2014. Terms of the purchase were not disclosed.
PNEC is an annual conference and exhibition serving the data integration, information and management disciplines critical to exploration and production within the global oil and gas industry. Founded in 1997 and held annually since then, PNEC brings together geologists, geophysicists, engineers, technicians, programmers, analysts and other professionals involved in data and information management. The 17th annual PNEC was held May 14-16, 2013 at the Double Tree by Hilton Greenway Hotel in Houston for a record 580 attendees from 37 countries. The three-day event included a plenary and multiple breakout presentations and networking among the attendees, 30 exhibitors and 23 sponsors.
Robert F. Biolchini, president and CEO of PennWell, said, “We are enthusiastic about the opportunity to work with Mrs. Crouse on the development of this prestigious conference founded by her husband, Philip C. Crouse, as a long-time petroleum engineer and consultant. There is no industry more reliant on accurate, comprehensive, and well-managed data than oil and gas, for which informed decision-making is paramount when millions of investment dollars are at risk.”
Biolchini added, “We were impressed by the quality of PNEC and the loyal following among major operators, independents, national oil companies and technology companies which the Crouses have nurtured. We intend to leverage PennWell’s publishing assets and the event expertise of our editorial staff of the Oil & Gas Journal, Offshore, and Oil & Gas Financial Journal to preserve the standard of quality in conference content established by PNEC over the last 17 years.”
PNEC owner Cindy Crouse said, “I am pleased about the sale to PennWell and to be associated with such a respected publisher and producer of international conferences and exhibitions. In addition to its long history in serving oil and gas worldwide, PennWell has the resources and expertise to expand PNEC. I am confident that PennWell will continue the advancement of the petroleum data and information management community.”
Biolchini said that PNEC will be managed by Mark Peters, vice president and group publishing director of PennWell’s Offshore and Oil & Gas Financial Journal magazines and the company’s domestic events, including Subsea Tieback Forum & Exhibition, Deepwater Operations Forum & Exhibition, Topsides, Platforms & Hulls Forum & Exhibition, and the Oil & Gas Pipeline Conference & Exhibition.
PennWell’s portfolio of conferences and exhibitions also includes Deep Offshore Technology (DOT), the world’s oldest and leading event for deepwater and hazardous environments, Offshore Middle East, Offshore Asia, Offshore West Africa, PetroWorld India, and Oil Sands Heavy Oil Technologies in Canada. PennWell also publishes Oil & Gas Journal, the world’s leading international news and technology magazine published weekly since 1902 and currently serving over 108,000 paid subscribers. The editorial staff of Oil & Gas Journal and Offshore will be involved in future PNEC conference development working with Crouse and industry advisors. In addition to its magazine titles, PennWell owns PennEnergy.com, a news and information portal which also provides industry reports and research, and MAPSearch, which provides comprehensive data coverage and spatial analysis of 1 million miles of pipelines across North America.