DrillingInfo acquires U.S. energy data from PennWell.Drillinglnfo.com (Austin, TX), an information and data analysis service for the oil and gas industry, has completed the purchase of PennPoint LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and PennEnergy/Data from PennWell Corp. (Tulsa, OK). No terms of the deal were given. Established in 1999 as a seperate company, PennEnergy is an Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the company that offers online transaction services for the oil and gas and electric power industries. The company's "Oil & Gas Journal Property Exchange" is a full-service oil and gas transaction advisor specializing in acquisition and divestment divestment to strip one's investment from an entity. services. The sale also includes the U.S. Historical Wellbore and Production databases of oil and gas wells throughout 22 producing states with data on upgrades. PennWell licensed the databases in 1998 following a FTC FTC See Federal Trade Commission (FTC). ruling that required the auction of a single competitive license due to antitrust Antitrust The antitrust laws apply to virtually all industries and to every level of business, including manufacturing, transportation, distribution, and marketing. They prohibit a variety of practices that restrain trade. concerns. DrillingInfo.com's chairman Allen Gilmer said the deal "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 consultants, mineral royalty owners, and oilfield service providers. |
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