LONDON and HOUSTON and SINGAPORE, July 15, 2019 /PRNewswire/ -- As multi-billion dollar global energy M&A activity gains pace, US lower 48 valuation data has never been more keenly sought. This is particularly true for locations across the Permian Basin, where unconventional hydrocarbon development not only influences global commodity prices, but also drives investment decisions.
Wood Mackenzie, the global natural resources research consultancy, announces today its partnership with P2 Energy Solutions to better analyse current and future well spacing. This will be achieved by leveraging WoodMac's well data and P2's lease and production unit content and will be accessible on Wood Mackenzie Lens, an entirely new analytics platform offering real time data, intuitive design and powerful visualisation.
This combined content offering will allow investment and petro-technical professionals to quickly assess the current value of a lease or company position in the contiguous US. It also enables robust benchmarking of future reserve and resource value of assets during investment or deal screening.
Tom Wilker, senior vice president of Subsurface at Wood Mackenzie, said, "The partnership will combine WoodMac's well data with P2's lease data to perform geospatial analytics. This combination of cost, production, wellbore path and lease data will create a solution the market has never seen before. With Wood Mackenzie's Lens platform, long, tedious valuation workflows will now take minutes, rather than hours."
Tony Sperduti, senior vice president of P2 Tobin Data Solutions, added, "The outcome is a fast, elegant solution that will provide a common language for landmen, engineers and analysts. The new capability our partnership has brought to Lens simplifies development planning for the energy investment community. We are pleased to have the opportunity to bring this to the market together."
The partnership plans to release the product in the third quarter of 2019. Working prototypes of the solution will be showcased during the URTeC conference (Booth 1323) in Denver during 22-24 July 2019.
Wood Mackenzie at URTeC:
Wood Mackenzie will showcase its new Lens platform at Unconventional Research Technology (URTeC) Conference 2019. Please join us in Denver, Colorado during July 22-24 at Booth 1323. For further information, please visit: https://www.woodmac.com/events/wood-mackenzie-at-urtec-2019/.
About Wood Mackenzie:
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie.
WOOD MACKENZIE is a trade mark of Wood Mackenzie Limited and is the subject of trade mark registrations and/or applications in the European Community, the USA and other countries around the world.
About P2 Energy Solutions:
P2 Energy Solutions (P2) empowers the people who power the world. P2 is the world's largest software and technology company dedicated to the upstream oil and gas industry, with solutions spanning the entire value chain from exploration to decommissioning. More than 1,500 companies use P2 products and services daily to improve decision-making, gain clarity into complex workflow scenarios, and optimize upstream efficiency. With more than 80 years of experience in data and 30 years in software, P2 has offices around the world, and employs more than 700 people. For more information, visit www.p2energysolutions.com.
SOURCE Wood Mackenzie