Sunday, 31st July 2011
Energy is big business and news. The last couple of years have seen heated discussions over drilling rights in the Arctic Region with Canada, Finland, Russia, USA, Norway, Sweden and Iceland all looking for a piece of this pristine and energy rich real estate.
Knowing where oil and gas are deposited is only a part of the success equation. The economics of extraction and production, such as the UK Morecambe Bay gas field, also play a large part.
As I mentioned in a recent LiveWire report, the energy sector is a growing spending market according to Barclays and as such I am not surprised to see more acquisitions of geophysical energy products and companies.
As Jan Knight wrote about last week, IHS Inc., a leading global source of information and analysis, announced that it has signed a definitive agreement to acquire Seismic Micro-Technology (SMT), a market leader for geoscience software. IHS Inc. offer information and analysis across many business sectors. They provide a solution driven service to help their customers make important decisions daily. The $500 million cash transaction is the largest acquisition in IHS history, and that says a lot about the value of the information products SMT can bring to the table.
SMT bring windows-based geoscience interpretation tools for exploration, collaboration and decision-making. The products help with workflow management and sharing with collaborators onsite and offsite in a high risk venture sector. It also provides integrated solutions for the management of assets for clients and partners.
The real gem is SMT’s seismic interpretation platform – KINGDOM. This will extend the global reach of the product at present, but give IHS Inc. a very useful addition to its information arsenal in their energy sector offerings to clients.
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