DrillingInfo Acquires Key U.S. Energy Data from PennWell Corp.; Data Includes Oil and Gas Well Info from 22 States, Federal Gulf of Mexico Offshore.Energy Editors/Business Editors AUSTIN, Texas--(BUSINESS WIRE)--May 26, 2004 DrillingInfo.com, an Austin-based information and data analysis service for the oil and gas industry, announced today that it has completed its asset acquisition of PennPoint, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and PennEnergy/DATA from Tulsa-based PennWell Corp. The sale includes the original U.S. Historical Wellbore and Production Databases of oil and gas wells throughout 22 producing states, including the Federal Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east offshore, including significant upgrades, additions and improvements to the databases. PennWell licensed the databases in 1998 following a Federal Trade Commission ruling that required the auction of a single unrestricted competitive license due to antitrust concerns. The merger of two major data companies that created the database, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the FTC's ruling, could have resulted in exclusive control by one source of fundamental data critical in the exploration and production of U.S. oil and gas reserves. "This acquisition allows us to accelerate our geographical expansion and enhance our existing consulting, data gathering, management and analysis services to our major and independent oil company members, as well as the several thousand consultants, mineral royalty owners and oilfield service providers that use our service," said Allen Gilmer, DrillingInfo's chairman of the board. "We are most pleased to conclude this transaction with DrillingInfo," said PennPoint LLC Chief Executive Officer Jayne Gilsinger. "We have been impressed with DrillingInfo's creative and customer-focused approach to providing quality data solutions and believe that the comprehensive, historical PennPoint data will be in good hands for the benefit of the domestic oil and gas industry." About DrillingInfo Inc. DrillingInfo is a member-based oil and gas information and data analysis service that serves more than 4,000 domestic oil and gas organizations and stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. , including major and independent E&P companies, oil field service companies, trust departments, mineral royalty owners, consultants, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies and legal services legal services n. the work performed by a lawyer for a client. firms. DrillingInfo additionally provides mission critical data, business intelligence, oilfield analysis and management, and data mining applications as well as buy-side consulting and wholesale sell-side services. DrillingInfo is headquartered in Austin, Texas, and has offices in Houston, Midland, Dallas and Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm . For more information, please visit www.drillinginfo.com. About PennWell Corp. PennWell Corp. provides business-to-business information and events for the oil & gas, electric power, water, electronics, semiconductor, contamination control Procedures to avoid, reduce, remove, or render harmless (temporarily or permanently) nuclear, biological, and chemical contamination for the purpose of maintaining or enhancing the efficient conduct of military operations. , optoelectronics, fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , computer graphics, enterprise storage, information technology, fire, EMS and dental markets. |
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