Drillinginfo said June 12 it acquired 1Derrick and PLS' research and database business, which will expand the Austin, Texas-based firm's market analysis and deal valuation products.
1Derrick is an independent oil and gas research and consulting firm that provides research services in the oil and gas sector through its databases and reports. The firm has offices in New York, Houston and Dallas as well as international offices in the U.K. and India.
Meanwhile, Houston-based PLS is an integrated information and advisory firm that manages the industry's multiple listing service while also offering news alerts, research reports, databases and apps. The firm has more than 2,200 corporate clients and 12,500 users worldwide, according to the Drillinginfo press release.
Terms of the transaction weren't disclosed. PLS has elected to retain its consulting practice as part of the agreement.
Drillinginfo said it expects these acquisitions to position it as a global leader in delivering intelligence on oil and gas mergers, acquisition, divestment transactions, lending activity, equity investments and assets currently for sale.
"We've been looking to acquire PLS and 1Derrick since 2016, to fulfill our vision to deliver a comprehensive platform for quickly identifying and valuing transaction opportunities in the U.S. and across the world and providing clarity on what to do next," Jeff Hughes, CEO and president of Drillinginfo, said in a statement.
Drillinginfo plans to combine PLS and 1Derrick's services with the firm's web and mobile platforms, which currently serves more than 3,500 companies globally, the release said.