DENVER, CO--(Marketwired - Aug 4, 2013) - P2 Energy Solutions, the world's largest exclusive provider of upstream oil and gas solutions, today announced it has completed its acquisition of ISS Group, Ltd., a leading production operations solution provider used by more than 50 companies including Chevron, PTTEP, HESS Corporation, BP, Santos and Woodside Energy.
P2's acquisition of ISS Group furthers P2's mission to be the world's best business technology provider for oil and gas -- one that empowers companies to fully achieve their true production potential through integrated operations. By combining ISS Group's leading production operations capabilities with P2's leading back office land and hydrocarbon accounting solutions, P2 will create a world-class platform that improves the upstream process for companies from land exploration through the well life cycle.
Production transparency is critical and ISS Group has enabled their customers to surface, track and analyze production data at a very granular level, while at the same time focusing on the key performance indicators that both management and engineering care about. By leveraging ISS Group's technology, P2 customers and the industry can harness capabilities such as:
- Aggregation of data from disparate systems to enable conditional and event-driven management across upstream processes
- Operational transparency measures that present mission-critical information from production operations to the rest of the enterprise for business analysis
- Well production surveillance that monitors for deviations from predetermined settings and provides real-time alerts for corrective action; and much more.
"The addition of ISS Group's technology significantly strengthens P2's ability to serve and connect both the highly technical needs of engineers in the field to the business-driven needs of the back office," said Charles Goodman, P2's President and CEO. "We're equally as excited about the over 100 employees that are joining the P2 family around the globe. This expansion provides a significant P2 presence in the Asia Pacific region and the ability to better serve the growing energy industry in the region."
The newly combined company will employ over 700 people around the world. For more information on how P2 Energy Solutions can improve your upstream oil and gas operations, please visit www.p2energysolutions.com.
About P2 Energy Solutions
P2 Energy Solutions is the only technology company that provides a comprehensive range of software, geospatial data, land management tools, and outsourcing to the energy industry. More than 1,200 companies use P2 products and services daily to improve decision-making, gain clarity into complex workflow scenarios, and optimize upstream efficiency. P2's core focus is the upstream oil and gas industry. P2's solutions are flexible and extensible and have been adopted by customers in manufacturing, midstream oil and gas, mining and minerals. With more than 80 years of experience in data and 30 years in software, P2 has offices around the world, and employs over 700 people.