Halliburton takes 15% of Petroleum Place

In a $55 million deal, Halliburton has taken a 15% stake in A&D portal Petroleum Place. Landmark software is to be deployed in ASP mode on the PP website.

Halliburton has been somewhat slow out of the blocks in the e-commerce field – at least in terms of portal technology. E-commerce supremo Bob Peebler is moving to fix this state of affairs with a 15% stake in Petroleum Place (PP), a leading Acquisitions and Divestment (A&D) portal. Valued at $55 million the deal will let PP clients use Landmark software in the A&D process.


Halliburton president Dave Lesar said "Property acquisition and divestiture often has inefficiencies in both cycle time and transaction pricing. We can reduce these with a new Internet-enabled business approach."


Bob Peebler added "Through Petroleum Place’s ownership of The Oil & Gas Asset Clearinghouse and TradeBank, Petroleum Place has a head start in the marketplace over those who are attempting to build their markets from scratch."


Gary Vickers, PP president commented "The alliance will allow us to leverage Halliburton’s global infrastructure of offices throughout the world to accelerate Petroleum Place’s international expansion."

Grand Basin

Landmark (and e-partner, SAIC) have two e-commerce based ‘Knowledge Service Provider’ (KSP) projects underway. PP is the KSP for acquisitions and divestments (A&D) while "Grand Basin" is a more general KSP offering for the upstream.

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