Calgary-based Divestco has acquired US-based Petro Data Source (PDS) of Denver, Colorado. PDS is an oil and gas information and data broker with a database of well header and production data for more than 4.3 million wells in most of the US’ producing regions including federal waters of the Gulf of Mexico, offshore California and Alaska.
Divestco president Terry Barnhart said, ‘This acquisition completes one of our objectives—to expand our products and services into the US. PDS is a highly respected supplier of well data, and the opportunity to accelerate the growth of their datasets and client base through integration with Divestco’s software products and technology is tremendous.’
Divestco generated revenues of $25.9 million in 2004, up $10.9 million from 2003. Net income for 2004 was $3.9 million, up $3.2 million on 2003.
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