I've been working a couple of advisory projects this month and keep going back to this concept - it remains as true as ever.
Announcements
SPEE Software Symposium Roadshow
There's a cool set of presentations happening in the next month in chapters all over the world - Denver, Dallas, Houston, Calgary, Latin America, Europe, and more! Zack's co-presenting in Denver Feb 12th and Casper Feb 21st, but if you have even the slightest interested in the state of the art for automated decline curve analysis, find a way to attend one. Full calendar here.
Pak Energy continues its string of acquisitions, rolling up Petrosight with its well lifecycle solution. This puts them further into direct competition with Quorum, Peloton, and IFS as providers of multi-disciplinary suites of E&P-oriented tools.
Quorum refinances debt
This kind of thing rarely becomes public knowledge, but Quorum Software, PE backer Thoma Bravo, and Apollo closed a $865mm debt refinancing round in November. No surprise that a private equity firm is aggressively using debt, but there are some fascinating tidbits of gossip in the article: 6x oversubscribed, 10% YoY EBITDA growth for three years, 5.5x leveraged on a $150mm/yr EBITDA runrate. In case you weren't already aware, Quorum is huge and profitable. Wall Street is paying attention.
Orennia closes Series C
Founded by a group of RS Energy alums, we've heard this pitched as "Enverus for Renewables", a data aggregator for solar, wind, CCS, etc. They've now added data centers to the pitch and announced a Series C backed by Blackrock.
Welligence launches a U.S. onshore product
A-ha, so that's what they were doing with that $40mm! Welligence, a data subscription and intelligence company with a strong reputation offshore and internationally, has launched a Lower 48 offering. This brings them into more direct competition with other U.S. data providers - yet another company trying to attack the S&P/Enverus duopoly.
Power BI January release
Another month, another batch. Key things to watch are improvements to the Treemap visual, semantic model version history with SharePoint-like restoration, and a new Snowflake connector (in preview). Snowflake is one of the most common O&G data warehousing platforms, used both in-house at E&P's and by vendors like S&P and Peloton, so good to be aware of.
Need help navigating the news, changes, and reports? We are here to help.
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