NEW YORK, June 2, 2016 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced today that it has acquired RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America. The purchase extends the S&P Global Platts energy analytical capabilities by strengthening its position in natural gas and enhancing the company's oil offering. Financial terms were not disclosed.
Founded in 1986, RigData provides over 5,500 customers in North America with daily electronic reports on drilling permits, activity and rig locations in the United States, the Gulf of Mexico and Canada. Customers use the information to identify new sales opportunities, assess market share, identify exploration trends, find available rigs, identify new production and monitor market activity.
S&P Global Platts and RigData have been content partners since 2008, with RigData providing essential data to the Platts Bentek product suite.
Imogen Dillon Hatcher, president of S&P Global Platts, said: "RigData's proprietary rig analysis provides essential information to help clients understand near-term activity across the North American energy supply chain. Together with our recent acquisition of Commodity Flow, RigData will help us enhance our analytics offering by providing customers with ever more relevant information about energy and commodity trade flows."
Ed Seifert, president of RigData, said: "We are excited to become part of S&P Global Platts. Together, we see significant opportunities to provide enhanced data and analytical services to our oilfield services customers. S&P Global Platts is committed to investing in its analytical capabilities and we are pleased that RigData is an important component of that strategy."
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About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
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Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, among other things:
- the volatility of the energy marketplace;
- worldwide economic, financial, political and regulatory conditions;
- concerns in the marketplace affecting our credibility or otherwise affecting market perceptions of the integrity or utility of our products and services;
- our ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, and the potential of a system or network disruption that results in regulatory penalties, remedial costs and/or improper disclosure of confidential information or data;
- the effect of competitive products and pricing;
- consolidation in our end-customer market;
- the health of the commodities markets;
- the level of success of new product development and global expansion;
- our ability to integrate, and realize expected synergies, savings or benefits from the businesses we acquire;
- the level of our capital investments;
- our ability to successfully recover should we experience a disaster or other business continuity problem, such as a hurricane, flood, earthquake, terrorist attack, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made disaster; and
- our exposure to potential criminal sanctions or civil remedies if we fail to comply with foreign and U.S. laws and regulations that are applicable in the domestic and international jurisdictions in which operate.
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SOURCE S&P Global Platts