Quorum Business Solutions Inc., a provider of software to companies in the energy industry, is exploring a sale amid a rebound in oil prices, the Wall Street Journal reported July 7.
Quorum, which was acquired by tech buyout firm Silver Lake in 2014, is working with investment bank Credit Suisse Group AG on the sale process, the Journal reported.
Brent crude, a global benchmark for the oil industry, has increased in price by around 19% in the past year.
Quorum offers software products that assist in areas including marketing, transportation and pipeline storage.
The Journal said that it is expected to generate roughly $43 million in EBITDA in 2018.
Recommended Reading
Sinopec Brings West Sichuan Gas Field Onstream
2024-03-14 - The 100 Bcm sour gas onshore field, West Sichuan Gas Field, is expected to produce 2 Bcm per year.
E&P Highlights: March 11, 2024
2024-03-11 - Here’s a roundup of the latest E&P headlines, including a new bid round offshore Bangladesh and new contract awards.
Trio Petroleum to Increase Monterey County Oil Production
2024-04-15 - Trio Petroleum’s HH-1 well in McCool Ranch and the HV-3A well in the Presidents Field collectively produce about 75 bbl/d.
Second Light Oil Discovery in Mopane-1X Well
2024-01-26 - Galp Energia's Avo-2 target in the Mopane-1X well offshore Namibia delivers second significant column of light oil.