Next-Generation Oil and Gas Marketplace Platform Makes Ambitious Plans with Market Intelligence Technology Purchase
FORT WORTH, Texas–(BUSINESS WIRE)–Energy Domain, the pioneering tech-enabled online marketplace based in Fort Worth, Texas, has successfully acquired market intelligence technology product Energent from U.K.-based Westwood Global Energy Group.
Founded by Ryan Vinson and the 5Ms Technologies team that created MineralWare and Energy Freelance, Energy Domain has parlayed dedication to technology, speed, and efficiency into two solid years of triple-digit growth, integrating data, analytics, and alerts to improve the way oil and gas properties are bought, sold, and leased since 2021.
With Energent, Energy Domain has acquired a market intelligence product that uses an artificial intelligence (AI) model to interpret satellite imagery, tracking rig locations, identifying frac crews, and providing valuable completion activity data.
Energy Domain CEO Ben Heinzelmann noted the immediate benefits the technology and data offer Energy Domain clients, “The delta between seller and buyer expectations is almost always development timing. In our experience, that’s where deals fall apart, especially when you’re dealing with mineral, royalty, and non-operated working interest transactions. Operators are also in need of reliable data on their competitors and general market trends. With Energent, we’re providing all parties with accurate intelligence to bridge those gaps, helping clients make informed decisions to successfully complete acquisitions on Energy Domain and elsewhere.”
Energy Domain COO Malcolm Smith agreed, explaining, “The synergies here are unmistakable. Having advanced knowledge about the location and timing of upstream capital allocation is important to both sides of the equation. Incorporating Energent’s location intelligence technology into the Energy Domain platform allows our clients to make better, data-driven decisions.”
Westwood Global Energy CFO David Clark explained “Through our discussions with Energy Domain it was clear that they valued the innovation and potential of the Energent solutions. We recognized that this young and hungry team would provide the capability to accelerate its development and ensure it is exposed to the entire industry. With Energent, Westwood Global Energy created vital and evolving tools to analyze the unconventional markets and we are excited to see Energy Domain spearhead this next stage of expansion.”
“At Energy Domain, we’ve been strategic about data aggregation from the beginning,” Heinzelmann agreed. “With the Energent purchase, we’ve acquired a data gathering tool we can continue to improve on into the future, thanks to its AI functionality — and we have big plans for that future. We’re on the cusp of a new era, and we hope you’ll stay tuned as we get ready to unveil the next generation at Energy Domain.”
Energy Domain leadership shared that – as a testament to the optimism surrounding the Energent purchase and plans for the future at Energy Domain – oil and gas industry veteran Hollis Sullivan, founder, and Co-Chief Executive Officer of Veritas Energy LLC, will be joining the company as an investor.
ABOUT ENERGY DOMAIN
Born from a desire to revolutionize the oil and gas asset transaction process, Energy Domain is a pioneering online marketplace fueled by data and driven by results. Energy Domain empowers both sellers and buyers with a streamlined platform, nationwide reach, and powerful analytical tools. Sellers benefit from instant connections to a diverse pool of qualified buyers, maximizing asset value through clear market data and efficient deal management. Buyers gain access to exclusive deals, simplified buying options, and targeted alerts that put them a step ahead of the competition.
With over 150 successful transactions facilitated since 2021 and ambitious plans for the future in progress, Energy Domain stands poised to unlock new potential and reshape the way the industry operates in 2024 and beyond.
Visit energydomain.com for more information.
ABOUT ENERGENT
Energent provides unconventional market intelligence for the oil and gas value chain, allowing users to examine the well lifecycle, from permit to production and to visualize the frac sand supply chain, from mine to well.
Using satellite imagery, machine learning (AI), and a team of analysts, Energent’s SatScout technology identifies when an operator has constructed a pad, rigged up for drilling, or started fracturing with a frac crew. Significantly, the tool can provide notifications of observed activity before that information is reported in quarterly earnings, investor presentations, or via state regulatory organizations.
Energent’s daily monitoring through SatScout of the key unconventional areas provides visibility into the number of frac spreads, well completions, and operator activity for the world’s most prolific oil growth region.
ABOUT WESTWOOD GLOBAL ENERGY GROUP
Westwood Global Energy Group provide energy market intelligence solutions, supporting clients to address their strategic, technical and commercial questions. Home to some of the leading solutions in energy market intelligence, Westwood Global Energy Group offers subscription-based research, bespoke insights, and consultancy services across Exploration & Production, New Energies, and Offshore and Onshore Energy Services and the Energy Transition, providing independent insights and critical intelligence across our specialist areas. Our commitment to data quality, the unrivalled insight from industry experts, and our ability to integrate intelligence into daily workflows means that clients trust our solutions when making critical decisions – time and time again.
Westwood Global Energy Group is headquartered in London and has offices in Aberdeen, Houston and Singapore. Visit www.westwoodenergy.com for more information.
Contacts
Lauren Kwedar Cockerell
817-405-9878
