OilVoice - IHS Acquires Divestco USA Inc. Product Portfolio

IHS Acquires Divestco USA Inc. Product Portfolio

Saturday, September 06, 2008

IHS Inc. has acquired the product portfolio of Divestco USA Inc., a strategic provider of comprehensive data and analytical tools for the oil and gas industry, for approximately $3 million in cash.

“This acquisition will significantly expand our Energy product and service offerings through the integration of Divestco USA’s drilling records, rig activity and other oil and gas databases,” said Jerre Stead, IHS chairman and chief executive officer. “New technology is making the exploitation of unconventional resources possible, and Divestco’s information is a critical component for understanding best practices in horizontal and directional drilling.”

Formed in 2005 when Calgary-based parent company Divestco Inc. acquired Petro Data Source, Inc. and Canamera Corporation, Divestco USA’s portfolio consists of drilling records, permits and rig activity, production data and public land survey (mapping) information. This data enables engineers, geo-scientists, financial analysts, service companies, and others involved in the oil and gas industry to make faster and better informed business decisions.

“Divestco USA’s data provides engineers and geoscientists with critical information to anticipate drilling problems before they occur. This enables our clients to optimize their drilling programs, thus reducing their operational risks and drilling costs,” added Mitch Yager, managing director, Divestco USA Inc. “IHS and its comprehensive suite of products and services for the oil and gas industry is a natural fit for this critical information.”

Review all our latest Acquisitions and Mergers news