Following its recapitalization earlier this year by San Francisco-based VC fund Vista Equity Partners, P2 Energy Solutions (P2ES) is now in acquisitions mode with purchase of the Wellcore application and Software Platform from Calgary-based Decision Dynamics (formerly Malibu Engineering and Software).
Wellcore is a well life cycle information management solution spanning G&G, drilling, completion and production operations. Wellcore captures information in a central database for analysis and interdepartmental workflows. P2ES has assumed ownership of all assets (including intellectual property) and personnel associated with Wellcore development, marketing, sales and support. The product is already widely used within P2ES’ client-base.
P2ES VP Engineering Solutions, Gerry Conroy, said, ‘The incorporation of Wellcore brings integration opportunities spanning land, production and sales volumes and operating and financial data.’ Wellcore users include Husky, Petro-Canada, Shell, Devon, ExxonMobil, EnCana, Talisman, heavy oil specialists Petrovera Resources and ‘virtual’ E&P shop—Stylus Exploration.
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