P2ES on spree

P2 Energy Solutions buys land management specialist Explorer and Wellpoint Systems’ ‘Bolo’ financials and ‘Ideas’ venture management.

P2 Energy Solutions went shopping in Calgary this month, bagging both Explorer Software Solutions and the assets of Wellpoint Systems. Wellpoint’s products include Bolo financials and the Ideas international venture management system. Explorer develops land management software for the Canadian market.

The acquisitions will create a consolidated independent technology provider with a portfolio of solutions for financial, production, and operations software, land management tools, mid-stream marketing solutions and outsourcing services. The combined unit has over 1,200 clients in 65 countries, and employs nearly 700 people. P2ES anticipates synergies from ‘scalable global resource allocation across R&D, services, support and account management.’

P2 ES president and CEO Bret Bolin observed, ‘These acquisitions represent a further step toward delivering on our vision of global leadership in enterprise solutions for oil and gas. They add proven technology and talented professionals, extending our capabilities to an international client base.’ Upon completion, 119 of the top 150 US energy companies, 91 of the top 100 Canadian operators and nearly 200 international operators will use P2ES solutions. More from www.oilit.com/links/1104_1.

This article originally appeared in Oil IT Journal 2011 Issue # 4.

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