Quorum Software announced it acquired Denver-based EnergyIQ, a provider of well master data management software applications. The acquisition expands and strengthens Quorum’s oil and gas software and services portfolio with in-well lifecycle data management for upstream exploration and production (E&P) companies.
EnergyIQ’s master data management solutions help enable E&P companies to operate more efficiently by providing valuable insights from integrated data. Powered by a SaaS-based platform built on industry standards, EnergyIQ’s solutions have been proven to meet the data complexities and scalability demands of midsized to large E&P companies alike.
EnergyIQ masters and synchronizes proprietary and public data across all systems of record and stages throughout the lifecycle of a well. Data quality and workflow automation are central to the EnergyIQ platform, which creates a comprehensive picture of a well that expands the usage of data throughout an organization, providing value to users across all departments by de-risking decision making through information. This data is available for decision making via a business intelligence layer that delivers insights to manage operations in increasingly sophisticated ways.
Quorum provides integrated solutions for its customers’ core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. The company’s portfolio of software addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management, and financial forecasting. Quorum is a software provider to over 75 percent of the largest oil and gas producers in the United States, and its technology powers 80,000 miles of pipeline and accounts for 80% of all natural gas processed in the U.S.
Financial details of the acquisition were not disclosed.