WoodMac and P2 Energy Solutions join forces to deliver data-driven insight to US energy sector
As multi-billion dollar global energy M&A activity gains pace, US lower 48 valuation data has never been more keenly sought. This is particularly true for locations across the Permian Basin, where unconventional hydrocarbon development not only influences global commodity prices, but also drives investment decisions.
Wood Mackenzie, the global natural resources research consultancy, announces today its partnership with P2 Energy Solutions to better analyse current and future well spacing. This will be achieved by leveraging WoodMac’s well data and P2's lease and production unit content and will be accessible on Wood Mackenzie Lens, an entirely new analytics platform offering real time data, intuitive design and powerful visualisation.
This combined content offering will allow investment and petro-technical professionals to quickly assess the current value of a lease or company position in the contiguous US. It also enables robust benchmarking of future reserve and resource value of assets during investment or deal screening.
Tom Wilker, senior vice president of Subsurface at Wood Mackenzie, said, "The partnership will combine WoodMac's well data with P2's lease data to perform geospatial analytics. This combination of cost, production, wellbore path and lease data will create a solution the market has never seen before. With Wood Mackenzie’s Lens platform, long, tedious valuation workflows will now take minutes, rather than hours."
Tony Sperduti, senior vice president of P2 Tobin Data Solutions, added, "The outcome is a fast, elegant solution that will provide a common language for landmen, engineers and analysts. The new capability our partnership has brought to Lens simplifies development planning for the energy investment community. We are pleased to have the opportunity to bring this to the market together."
The partnership plans to release the product in the third quarter of 2019. Working prototypes of the solution will be showcased during the URTeC conference (Booth 1323) in Denver during 22-24 July 2019.