3esi-Enersight acquired Energy Navigator Inc. creating the largest provider of integrated strategy, planning and reserves solutions for the oil and gas industry, according to a company press release on June 27.
Energy Navigator is the creator of Value Navigator (Val Nav), a reserves evaluation and management software, and AFE Navigator (AFE Nav), AFE workflow, approvals and capital tracking system. Financial details of the acquisition were not disclosed.
As a result of the acquisition, the new 3esi-Enersight solution will provide the world's oil and gas companies with a unified view of their data, workflows and assets while ensuring that reserves management and asset level decisions are closely linked to corporate level strategy and planning. The result will be significantly improved short-term results and long-term value creation, according to a company press release.
"3esi-Enersight's vision for the petroleum industry is the complete integration of data and workflows from the reservoir to the boardroom, enabling companies to plan more effectively and respond faster to market and operational volatility," Wayne Sim, CEO of 3esi-Enersight, said in a statement. "This acquisition adds the final core capability to a complete solution that we have built over the past decade. It also unites two teams of respected experts in the field who will provide a combination of software, service and expertise that is unmatched in the industry."
3esi-Enersight provides solutions for integrated strategy, planning and reserves for the E&P industry across conventional, unconventional, onshore and offshore assets. Headquartered in Calgary, Alberta, the company serves more than 400 customers worldwide, the release said.
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