Drillinginfo announces alliance with MineralSoft
AUSTIN, Texas -- Drillinginfo, an oil and gas SaaS and data analytics company, announced today a new strategic collaboration with MineralSoft, a software platform designed to make managing mineral, royalty and non-operated working interests easier and more profitable.
With this collaboration, Drillinginfo is expanding its product offering to mineral management companies as MineralSoft will tap Drillinginfo’s data to deliver a solution that helps organizations better manage their properties and portfolios of mineral interests. This joint effort will help identify royalty underpayments and prepare mineral portfolio insights and analytics in real time. Enhanced capabilities under the collaboration will include:
- GIS mapping of mineral interests
- Analytics and reporting of revenue, expense, and volume data by oil and gas well
- Full tract-based land management system
- Management of deeds, tracts, leases and division orders
- Tracking of investment performance by acquisition, landman and broker
- Automated revenue and expense audit capabilities
“Managing minerals properly and responsibly is just one of many aspects of the oil and gas industry,” said Allen Gilmer, chairman of Drillinginfo, “but it’s an aspect that is currently growing in importance. E&P companies and mineral owners look at the same info in completely different ways. With MineralSoft’s focus on minerals and royalties, we’ll be able to take our services to a new level and help America’s growing mineral management industry value their ownership interests, find strategic opportunities to buy mineral interests, and find buyers for their interests.”
“Great just got better,” added Gabe Wilcox, CEO & co-founder at MineralSoft. “This collaboration simultaneously expands MineralSoft’s capabilities to better serve our customers’ needs, while adding a new dynamic to Drillinginfo’s already best-in-class oil and gas analytics capabilities,” added Wilcox. “Drillinginfo’s culture – from their passion for rapid innovation to development of superior products – is rare to find these days and we’re thrilled to start working together with them,” said Wilcox.
According to the National Association of Royalty Owners (NARO), there are an estimated 12 million private owners of mineral and royalty interests in the United States. An often overlooked facet of the American oil and gas industry, royalties from oil and gas production can be owned by several interests including landowners, banks, trusts, endowments, corporations, investment funds, states and universities, among others.
As oil and gas commodity prices prove to have bottomed-out, private capital interests are turning to mineral and royalty investment strategies while E&P companies are looking for ways to automate or streamline business operations and create valuable efficiencies to maximize revenues when prices fully recover.
The alliance with MineralSoft marks the fourth major move in six months by Drillinginfo, helping it to solidify its position within the oil and gas industry as the leading SaaS and data analytics company for energy exploration decision support, and assisting the oil and gas industry achieve better, faster results.
In January, Drillinginfo announced a new suite of Oilfield Services (OFS) solutions tailored to give OFS companies an edge over their competitors. Late in the fourth quarter of 2016, Drillinginfo acquired several assets from Ponderosa Energy and its forecast tools such as the Fundamental Edge, a subscription-based market outlook service, and ProdCast, an online tool that allows users to run forecast scenarios specific to their needs in real time. Earlier in the quarter, Drillinginfo also acquired GlobalView and its flagship product, MarketView, which allows companies across the energy supply chain, risk marketers, and other commodities investors to monitor price movements to better manage and assess risk through their trading operations.
The strategic collaboration between Drillinginfo and MineralSoft is not an acquisition or purchase and the two will remain separate, independent companies.
Related News ///
Connect with World Oil
Join Our Newsletter ///
Sign-up for World Oil Daily News
Latest News ///More
- OU geothermal team wins first place in national Department of Energy competition (5/23)
- To avoid windfall tax, UK may ask for quarterly green plans (5/23)
- OEUK: A windfall tax risks reducing the UK’s energy security (5/23)
- Oil steadies as EU stalemate deepens on Russian oil embargo (5/23)
- Russia’s seaborne crude oil exports keep coming (5/23)