Fort Worth-based Energy Domain strengthens its tech-driven marketplace with the acquisition of Energent, a market intelligence technology product from Westwood Global Energy Group.
Revolutionizing Oil and Gas Transactions
Energy Domain, the innovative online marketplace, has successfully acquired Energent from the U.K.-based Westwood Global Energy Group. This strategic move aims to enhance Energy Domain’s data-driven approach to buying, selling, and leasing oil and gas properties.
Triple-Digit Growth Since 2021
Founded in 2021, Energy Domain has experienced two years of triple-digit growth by leveraging technology to improve efficiency and speed in the oil and gas industry. The platform integrates data, analytics, and alerts to transform how properties are transacted.
Energent’s Market Intelligence Technology
Energent, a market intelligence product, utilizes artificial intelligence (AI) to interpret satellite imagery. It tracks rig locations, identifies frac crews, and provides valuable completion activity data. This acquisition allows Energy Domain to offer accurate intelligence to bridge gaps in deal expectations, especially in transactions involving mineral, royalty, and non-operated working interests.
Bridging Expectation Gaps in Transactions
CEO Ben Heinzelmann highlights the significance of Energent’s technology in bridging the gap between seller and buyer expectations, particularly in development timing. Energent’s capabilities provide essential data for operators, offering insights into competitors and general market trends.
Enhancing Clean Cooking Initiatives
Energent’s technology will be integrated into the Energy Domain platform, providing location intelligence to help clients make data-driven decisions. The acquisition strengthens Energy Domain’s commitment to providing reliable data and insights to support clean cooking initiatives and contribute to poverty alleviation.
Proven Synergies
COO Malcolm Smith emphasizes the synergies between Energy Domain and Energent, noting that advanced knowledge about upstream capital allocation is crucial for both sellers and buyers. The incorporation of Energent’s technology enhances Energy Domain’s ability to offer superior location intelligence to clients.
Expanding Clean Cooking Solutions
The acquisition aligns with Energy Domain’s commitment to promoting clean cooking solutions globally. The Bettering Human Lives Foundation, a non-profit organization established by Liberty Energy, focuses on increasing access to clean cooking fuels, complementing Energy Domain’s initiatives.
Experienced Leadership and Collaboration
Under the leadership of Executive Director Anne Hyre, the Bettering Human Lives Foundation benefits from over 30 years of experience in public health across Africa and Asia. Liberty Energy’s initial commitment of $1 million demonstrates confidence in the foundation’s potential to raise significant funds and create a lasting impact.
Inviting Collaboration and Partnerships
Liberty Energy invites collaboration from like-minded entities, philanthropists, and individuals who share the vision of a world where everyone has access to clean cooking fuels. The foundation’s initiatives include financial support, mentorship programs, and partnerships with local organizations.
Looking to the Future
Energy Domain’s acquisition of Energent, coupled with its commitment to clean cooking initiatives, positions the company for future growth and innovation. The leadership team, including industry veteran Hollis Sullivan, anticipates unveiling the next generation of solutions in the energy domain.
About Energy Domain
Energy Domain, born from a desire to revolutionize the oil and gas asset transaction process, is a pioneering online marketplace fueled by data and driven by results. With over 150 successful transactions facilitated since 2021, Energy Domain aims to reshape the way the industry operates in 2024 and beyond.
About Energent
Energent provides unconventional market intelligence for the oil and gas value chain, utilizing satellite imagery, machine learning (AI), and a team of analysts. Its SatScout technology offers daily monitoring of key unconventional areas, providing visibility into frac spreads, well completions, and operator activity.
About Westwood Global Energy Group
Westwood Global Energy Group provides energy market intelligence solutions across Exploration & Production, New Energies, and Offshore and Onshore Energy Services. The group’s commitment to data quality and independent insights makes it a trusted source for critical decisions in the energy industry.
Source: businesswire.com
