geoLOGIC systems acquires Well Completions & Frac Database from Canadian Discovery
BOSTON -- geoLOGIC systems, a portfolio company of BV Investment Partners, has announced that it has purchased Canadian Discovery Ltd.’s (CDL) Well Completions & Frac Database and related products, including its Direct Data Access add-on module and the Drilling Database.
This acquisition includes the products and the team behind them, so clients using Canadian Discovery’s Well Completions & Frac Database will continue to receive the same high-quality data and service they have come to expect.
“geoLOGIC is excited to integrate such an important data set with its existing product offerings,” said geoLOGIC CEO David Hood. “Fracing has been the key technology that has driven the spectacular growth of North American hydrocarbon production and geoLOGIC now owns the only comprehensive Canadian fracing data set in existence. We have big plans to build on the data and interpretation tools to provide even more value for our customers.”
Justin Garrison, principal of BV Investment Partners, a middle-market private equity firm focused on the business services and information technology services sectors, said, “We are pleased to support geoLOGIC’s management with this significant acquisition that complements the company’s existing software, data, and analytic tools. CDL’s Well Completions & Frac data base is critical to high value decision-making and operating efficiencies to its broad customer base, which includes Canadian oil and gas producers, service companies, banks and research houses.” BV invested in geoLOGIC from its Fund VIII in 2015.
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