By ET Bureau - February 13, 2020 3 Mins Read
Enverus, a leading energy SaaS and data analytics company, announces that it has acquired RS Energy Group (RSEG), an innovative technology firm focused on the upstream oil & gas industry. The acquisition combines the companies’ complementary strengths to accelerate technology, machine learning and advanced analytics across the energy market.
For more than 20 years, each company has independently established a reputation for providing unique value to its customers. Backed by Genstar Capital, Enverus’ leading technology enables operators, investors and oilfield service companies to make better, faster decisions and delivers unmatched, in-field business automation software and capabilities. Since Warburg Pincus partnered with RSEG in 2015, the traditionally research-focused firm has grown nearly six-fold into a technology and data science-driven organization that allows investors and corporate executives to operationalize analytics and increase transparency at enterprise scale. Together, Enverus and RSEG will transform the way energy companies and investors perform technical workflows, automate business processes and ultimately deliver shareholder value.
“This is about accelerating innovation through high-powered technology and is another active step for Enverus in breaking down silos by building workflows across engineering, geology, land, operations, and so much more. Our aligned vision, client-centric focus, and a relentless commitment to innovation will help our customers solve their most complex challenges. These values will never change,” said Jeff Hughes, CEO, and President of Enverus.
As co-CEO and Presidents of RSEG, Jim Jarrell and Manuj Nikhanj share Hughes’ excitement in the potential value being created for customers. Going forward, Jarrell and Nikhanj will join Enverus as co-Presidents overseeing Enverus’ Oil & Gas Analytics Division.
“Combining forces with Enverus carries an enormous opportunity for both companies and their clients. We have built extremely successful businesses and share a deeply embedded culture focused on client success. That is in our DNA. The timing of this transaction is amazing as the energy industry is in the first innings of its digital transformation. Our shared vision and combined resources allow us to ramp up the delivery and innovation of solutions to the industry’s toughest challenges. It’s full speed ahead and we are focused on the future together,” says Jarrell.
“In today’s energy environment, it’s no longer an option to ignore the power of data and analytics. Companies that are leveraging cutting-edge advanced analytics and technologies are building sustainable, long-term strategies. With Enverus, we will be creating a single solution that is vertically integrated from the technical teams to the board room. Together we will continue to fast-track the industry’s digital transformation,” explains Nikhanj.
“This is a monumental milestone for both companies, and a significant opportunity to demonstrate even greater value for our clients. What’s most exciting is how this combination brings together the best people and technology available in the industry,” adds Hughes. “The most important assets in a software company are the people, not the products. With this combined team, our future has never looked brighter.”
Clients of both Enverus and RSEG will immediately derive value with access to new data sets and unique insights. Enverus and RSEG encourage existing clients to contact their account manager for any additional questions.
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