IHS Acquires Divestco USA Inc. Product Portfolioadmin
IHS Inc., a leading global source of critical information and insight, today announced it 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.”
IHS (NYSE:IHS) is a leading global source of critical information and insight, dedicated to providing the most complete and trusted data and expertise. IHS product and service solutions span four areas of information that encompass the most important concerns facing global business today: Energy, Product Lifecycle, Security and Environment. By focusing on customers first, IHS enables innovative and successful decision-making for customers ranging from governments and multinational companies to smaller companies and technical professionals in more than 180 countries. IHS has been in business since 1959 and employs approximately 3,000 people in 20 countries.