P2 Energy Solutions to acquire Merrick Systems

P2 Energy Solutions

P2 Energy Solutions has signed a definitive agreement to acquire Merrick Systems Inc., combining Merrick’s production management software with P2’s upstream oil and gas software and data portfolio.  

Merrick provides production management and hydrocarbon accounting software in the oil and gas industry. Merrick currently supports an estimated 25% of US wells.

More than 1,500 upstream oil and gas companies from around the world use P2 solutions to manage land assets, measure and process financial information, optimize production, and manage reserves.

Merrick’s Production Manager is a comprehensive software solution for production management and hydrocarbon accounting, combining tightly integrated tools for capturing and validating field data, hydrocarbon allocations, analysis, and reporting of production.

“Merrick’s strong market position and 25-year legacy in production management make it a natural fit for P2,” said Charles Goodman, P2’s CEO. “Combined with P2’s back-office strength, together with Merrick we can support upstream organizations that want to run a real-time, data-driven model for optimized production.”

Merrick President and CEO Scott Raphael said, “Together, Merrick and P2 can benefit customers by combining our products to manage day-to-day operations and to streamline the flow of data from the wellhead to the back office.”

Merrick founder, board member and COO Samina Farid, said, “I’m excited to join forces with P2. We see a tremendous benefit for our customers and employees in becoming a part of the P2 family. We look forward to working as a team to provide the best industry offerings and superior service to our clients.”

Ola Saetre, of HitecVision (Merrick’s financial sponsor), commented, “It’s been an exciting journey working with Merrick, and we think P2’s complementary products and global reach will take the Production Manager software suite to the next level.”

Chris Egan, managing director at Advent International (P2’s financial sponsor), said, “We look forward to working with the Merrick team to build something truly special for the upstream oil and gas industry.”

P2 expects the acquisition to be completed before year’s end.

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