P2 Energy Solutions Completes Acquisition of ISS Group, Ltd.
The Combination of ISS Group With P2 Energy Solutions Creates the
Technology Leader in Oil and Gas Production Operations
DENVER, CO -- (Marketwired) -- 08/04/13 -- P2 Energy Solutions, the
world's largest exclusive provider of upstream oil and gas solutions,
today announced it has completed its acquisition of ISS Group, Ltd.,
a leading production operations solution provider used by more than
50 companies including Chevron, PTTEP, HESS Corporation, BP, Santos
and Woodside Energy.
P2's acquisition of ISS Group furthers P2's mission to be the world's
best business technology provider for oil and gas -- one that
empowers companies to fully achieve their true production potential
through integrated operations. By combining ISS Group's leading
production operations capabilities with P2's leading back office land
and hydrocarbon accounting solutions, P2 will create a world-class
platform that improves the upstream process for companies from land
exploration through the well life cycle.
Production transparency is critical and ISS Group has enabled their
customers to surface, track and analyze production data at a very
granular level, while at the same time focusing on the key
performance indicators that both management and engineering care
about. By leveraging ISS Group's technology, P2 customers and the
industry can harness capabilities such as:
-- Aggregation of data from disparate systems to enable conditional and
event-driven management across upstream processes
-- Operational transparency measures that present mission-critical
information from production operations to the rest of the enterprise
for business analysis
-- Well production surveillance that monitors for deviations from
predetermined settings and provides real-time alerts for corrective
action; and much more.
"The addition of ISS Group's technology significantly strengthens P2's
ability to serve and connect both the highly technical needs of
engineers in the field to the business-driven needs of the back
office," said Charles Goodman, P2's President and CEO. "We're equally
as excited about the over 100 employees that are joining the P2
family around the globe. This expansion provides a significant P2
presence in the Asia Pacific region and the ability to better serve
the growing energy industry in the region."
The newly combined company will employ over 700 people around the
world. For more information on how P2 Energy Solutions can improve
your upstream oil and gas operations, please visit
About P2 Energy Solutions
P2 Energy Solutions is the only technology
company that provides a comprehensive range of software, geospatial
data, land management tools, and outsourcing to the energy industry.
More than 1,200 companies use P2 products and services daily to
improve decision-making, gain clarity into complex workflow
scenarios, and optimize upstream efficiency. P2's core focus is the
upstream oil and gas industry. P2's solutions are flexible and
extensible and have been adopted by customers in manufacturing,
midstream oil and gas, mining and minerals. With more than 80 years
of experience in data and 30 years in software, P2 has offices around
the world, and employs over 700 people.
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