Westwood Global Energy Group Announces Acquisition of RigLogix - a Premium Oil and Gas Data Services Platform
February 27 2018 - 9:00AM
Business Wire
Westwood Global Energy Group (Westwood), an energy research,
analysis and consulting specialist for exploration and oilfield
services markets, announced today that it has acquired RigLogix
from DHI Group, Inc (NYSE: DHX).
RigLogix is a premium data services platform for the oil and gas
industry. The platform offers on demand access to real time data
and analysis for the global offshore rig market. The comprehensive
service includes data and analysis of the historical, current and
projected offshore rig fleets.
Andrew Reid, CEO of Westwood Global Energy Group
commented; “With the acquisition of RigLogix we inherit a strong,
global team and capability, which is highly complementary to the
wider Westwood Group offering.”
The acquisition is another key step in the development of
Westwood and enhances the Group’s Research and Consulting
capability across exploration and oil field service markets.
“RigLogix is the sixth acquisition for Westwood and supports our
strategic objective of creating a larger group of Upstream market
intelligence products with real depth in niche markets,” said
Andrew Reid. He added, “Our ambition to have embedded services with
our clients is also secured and post-acquisition over 70% of Group
revenue subscription based.”
Michael Durney, President and CEO of DHI Group, Inc.,
stated; “This is an exciting new venture for RigLogix which is a
premium data services leader with an unmatched position in the oil
and gas industry. The acquisition by Westwood Global Energy, who
have a firm footing in the global energy market analytics space,
will allow RigLogix to thrive, benefited by a new home that
complements its comprehensive insights and innovative on-demand
data.”
AGC Partners served as the exclusive financial advisor for DHI
Group Inc for the transaction.
Westwood Global Energy Group is a leading provider of research,
data analytics and consulting services to the global energy
industry. Focused primarily on intelligence and insight for the
worldwide exploration and oilfield services markets, Westwood
coverage also extends to the offshore renewables and power
generation markets. Westwood’s analysis is independent,
comprehensive and based on deep sector knowledge.
Formed in January 2015 by the private equity firm Energy
Ventures, Westwood Global Energy Group consolidates a number of
leading providers and market research and consulting services with
decades of experience in the sector. Today Westwood is a leading
player in the energy related business intelligence and data
analytics space.
- Ends –
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