3esi-Enersight acquires Energy Navigator, becomes largest provider of planning, reserves solutions

CALGARY -- 3esi-Enersight, a provider of solutions for integrated strategy, planning and reserves has announced it has acquired Energy Navigator.

Energy Navigator is the creator of Value Navigator (Val Nav), a reserves evaluation and management software, and AFE Navigator (AFE Nav), the market leading AFE workflow, approvals and capital tracking system.

The acquisition brings together two technology pioneers and thought leaders in the petroleum planning and reserves space and signals an evolution in the way companies plan and manage their core assets. The new 3esi-Enersight solution will provide the world's oil and gas companies with a unified view of their data, workflows and assets while ensuring that reserves management and asset level decisions are closely linked to corporate level strategy and planning. The result will be significantly improved short-term results and long-term value creation.

"Our industry has evolved significantly, especially in the past few years of economic turmoil. It is vital for companies to ensure that all operational decisions align with corporate-level priorities, of which reserves and technical evaluations are a critical component," said Wayne Sim, CEO of 3esi-Enersight. "3esi-Enersight's vision for the petroleum industry is the complete integration of data and workflows from the reservoir to the boardroom, enabling companies to plan more effectively and respond faster to market and operational volatility. This acquisition adds the final core capability to a complete solution that we have built over the past decade."

From technical reserves evaluation featuring custom decline curve analysis routines and algorithms to forecasting, reserves reconciliation and corporate reserves reporting, Energy Navigator's Val Nav Engineering and Reserves software is already considered by many operators as the most complete and innovative reserves management solution available today.

Energy Navigator's AFE Nav software is the most advanced AFE workflow and approvals tool in the industry, helping companies improve spending controls and avoid cost overruns while accelerating approval times for capital expenditures by up to 75% over existing systems.

By seamlessly integrating Val Nav and AFE Nav capabilities into their market leading solution for integrated strategy, planning and execution, 3esi-Enersight promises to close the gap between planning and reserves management, providing a single source of truth for petroleum company value and plans for growth.

Financial details of the acquisition were not disclosed.