Drilling info acquires Wellstorm Development’s Technology
Thursday, Dec 13, 2012
Drilling Info Inc., the premier SaaS-based oil and gas business intelligence and decision support technology platform for the global upstream E&P industry, has acquired the assets of Wellstorm Development Inc., an information management and development company based in Dripping Springs, Texas.
“We have worked with the folks at Wellstorm for many years and know that they share our values – beyond just a fondness for local ales. We’re excited to have them as part of our growing company.”
Wellstorm’s technology creates a bridge between Drilling Info solutions and the data behind a client company’s firewall.
“Wellstorm developed a technology that aligns with Drilling Info’s strategic vision and our research and development objectives,” said Allen Gilmer, CEO and chairman of Drilling Info. “We have worked with the folks at Wellstorm for many years and know that they share our values – beyond just a fondness for local ales. We’re excited to have them as part of our growing company.”
As part of the transaction, Wellstorm’s CEO, Hugh Winkler, will become Drilling Info’s director of research. Winkler is a co-author of the seismic interpretation system that became SeisVision, a standard component of the LMKR GeoGraphix Discovery Suite. Winkler developed geophysical software at Landmark, EagleVision and Parallel Geoscience Corporation prior to founding Wellstorm Development in 2004.
“Drilling Info is leading the way in transforming how technical professionals solve expensive problems in hydrocarbon prospecting, investing, production and analysis,” said Winkler. “We believe our software development roadmap will be able to contribute to Drilling Info’s vision and help to accelerate the build-out of their industry ecosystem. This is a great opportunity for us.”
Along with Wellstorm’s team, Drilling Info will dedicate additional manpower to further support ongoing research and development initiatives related to enhancing Wellstorm’s technology. In 2013, Drilling Info plans to add approximately 60 people to its current team of more than 400 employees.
“This acquisition is a win for Drilling Info and a win for the Austin economy. We are creating jobs in the region as we continue our expansion and growth strategy,” continued Gilmer.
Source: Business Wire
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