Westwood Global Energy Group Acquires RigLogix
Westwood Global Energy Group (Westwood), an energy research, analysis and consulting specialist for exploration and oilfield services markets, announced Tuesday that it has acquired RigLogix from DHI Group, Inc (NYSE: DHX).
RigLogix is a premium data services platform for the oil and gas industry. The platform offers on demand access to real time data and analysis for the global offshore rig market. The comprehensive service includes data and analysis of the historical, current and projected offshore rig fleets.
Andrew Reid, CEO of Westwood Global Energy Group commented; “With the acquisition of RigLogix we inherit a strong, global team and capability, which is highly complementary to the wider Westwood Group offering.”
The acquisition is another key step in the development of Westwood and enhances the Group’s Research and Consulting capability across exploration and oil field service markets.
“RigLogix is the sixth acquisition for Westwood and supports our strategic objective of creating a larger group of Upstream market intelligence products with real depth in niche markets”, said Andrew Reid. He added, “Our ambition to have embedded services with our clients is also secured and post-acquisition over 70% of Group revenue subscription based.”
Michael Durney, President and CEO of DHI Group, Inc., stated; “This is an exciting new venture for RigLogix which is a premium data services leader with an unmatched position in the oil and gas industry. The acquisition by Westwood Global Energy, who have a firm footing in the global energy market analytics space, will allow RigLogix to thrive, benefited by a new home that complements its comprehensive insights and innovative on-demand data.”
AGC Partners served as the exclusive financial advisor for DHI Group Inc for the transaction.
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