Petroleum Technology Digest: Internet data rooms save dollars, increase marketing efficiency ///
Once a decision is made to divest an oil and gas asset, time is of the essence to take advantage of opportunistic market conditions or realize cash flow quickly. The marketing objective is to get relevant data to qualified prospects quickly and efficiently.
Lehman Brothers employed Petris Technology, Inc.'s Internet Data Room (IDR) software to present data online for a 500-well Gulf of Mexico/Louisiana divestiture. This approach saved Lehman, the marketer, and the seller more than 100 hr of time. Savings in normal paper, copying and distribution costs incurred with a physical data room offset the IDR costs.
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