Banker Morgan Stanley Dean Witter has teamed with IHS Energy and Arthur Andersen to provide a “survival kit for oil explorers!” Nrg360 is yet another upstream A&D portal, with restricted access for the bank’s clients.
The asset exchange (AssetX) offers sellers a variety of bidding scenarios, and claims to make the buying process “more immediate.” Industry focused news feeds are provided by AFX News (an Agence France-Presse and Financial Times joint venture).
Financial news comes from Reuters and credit related information on industry players comes from partner Standard & Poor’s. The site contains what is described as “an advanced data room” and a secure communications network (provided by partner Unisys) allows potential buyers to dialogue with vendors. During a keynote speech at the GeoQuest forum, Anne Marie Cannon slipped in an unashamed plug for nrg360.com, claiming that the new offering “differs from IndigoPool.” Really? Online bidding, energy news, financial info? You could have fooled us!
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