HOUSTON – inerG, Inc., a Houston headquartered energy assets economics software company, announced today the acquisition of PetroBase LLC, a Kansas-based oilfield software solutions company. inerG’s software products are focused on providing leading edge solutions to meet the unique needs of energy companies, asset owners and investors. PetroBase is a long-established company which provides integrated data tools that assist Exploration and Production companies in discovering production inefficiencies and operational enhancement opportunities.
The combination of PetroBase tools, once integrated into inerG’s platform, will expand inerG’s solutions portfolio of predictive economic analysis, land diligence, field measurements, tracking of energy asset history and measuring productive health; as well as economic performance monitoring/reporting and reserve valuation. The integration of both companies’ software products will also fill an existing void by creating a standards-based data platform that bridges private and public data; thereby enhancing a company’s efficiency and experience realizing value from its data.
Celestine Vettical, CEO of inerG said: “Our company continues to be on a relentless pursuit to transition and transform the energy industry by developing innovative software services that empower companies to become winners during these challenging times with smart and real-time decision-making tools. With the addition of the PetroBase team and its products, we have assembled a broad spectrum of industry experts dedicated to reinventing and redefining the energy industry’s digital tools. The combination of our two teams will accelerate the pace of our product roll out and horizontal expansion of the inerG energy platform into renewables. We are now well positioned to help our combined customers to more efficiently manage their asset portfolio, more accurately identify profitable opportunities and execute plans confidently and cost efficiently. As a result, our combined customers will be able to expand and transition their portfolio with an optimal mix of assets.”
PetroBase will be integrated into inerG’s oil and gas solutions group. Kyle Stephenson, founder and CEO of PetroBase, will serve as VP of Upstream solutions and the PetroBase team will continue to operate from Kansas and expand with the strengths of combined teams.
“I am extremely enthusiastic about joining forces with inerG as we share a similar vision and are mutually committed to listening to the needs of our customers, providing the best customer service possible and materially enhancing our software solutions and geographic coverage. Our analytic solutions for oil and gas operations, when integrated with inerG’s managerial and strategic focus, will result in a state-of-the-art platform providing information flow and operational/informational utility for all disciplines across an entire company regardless of size,” said Kyle Stephenson, CEO of PetroBase. “Workflows will be streamlined from the wellhead to the C-suite. Now, more than ever, cost savings and labor efficiencies are vital. Our combined strengths and efforts will generate savings and improve the decision-making process for all of our customers.”
About inerG (based in Houston, Texas)
inerG offers a cloud platform containing secure and scalable energy data fabric, sophisticated intelligence, predictive modeling and analysis for continuous monitoring and near real-time evaluation of economic performance and for maximizing profitability of energy assets. inerG tools help identify and execute on predictive and prescriptive approaches for performance enhancements and quickly implement acquisition, divestiture, profitable asset development and cost saving initiatives to maximize returns. inerG has energy industry experts and a world-class development team consisting of programmers and engineers with oil & gas experience and deep knowledge of modern enterprise software architectures and passion for adopting disruptive technologies. Celestine Vettical and his team have previously built a highly successful energy technology platform and digital energy tools company, Perfomix, focused on upstream oil & gas operations excellence and reservoir performance. Perfomix was acquired by Baker Hughes and its platform and tools became the core of their remote operations digital services offerings. Afterwards, Celestine was responsible for managing, further innovating and growing Baker Hughes’ next generation of remote operations solutions and digital oil field initiatives.
About PetroBase (based in Wichita, Kansas)
PetroBase Pro is your complete oil and gas management software. It integrates economic, production and operational data in a single application for powerful analysis that empowers efficient solutions. It is custom-built for your company and is configured to work with existing systems including accounting software. Our intelligent production and lifting cost dashboards are visual and interactive. PetroBase Explorer provides scores of oil and gas production data at the user’s fingertips to map, view, conduct decline curve analysis, cash flow projections and identifies production characteristics. Additionally, PetroBase WellBore Schematic is a shared application for tracking vital data throughout a well’s history, including the construction of powerful wellbore schematics, casing/cement/tubing data, tracking drilling and workover entries, failure activity, well lifting costs, completion intervals, surface and downhole equipment, production test history and notes and future recommendations.
Company Name: InerG, Inc.
Contact Person: Elizabeth Zabell
Email: Send Email
Address:4801 Woodway Dr Suite 275E
State: TX 77056
Country: United States