PIDX International and Energistics Sign Memorandum of Understanding

HOUSTON, TX and LONDON--(Marketwire - May 31, 2012) - PIDX International and Energistics announced today the signing of a Memorandum of Understanding that will allow these oil and natural gas standards organizations to work more closely together in bringing the business value message of open standards to the industry. PIDX International and Energistics will collaborate on industry events, points of leverage and assist each other with joint standards adoption messaging to benefit their members as well as the oil and gas industry as a whole.

Jointly announced by William Le Sage, Chairman of PIDX International, and Jerry Hubbard, President and CEO of Energistics, at the PIDX International -- Europe Spring 2012 Conference held in London, the two organizations highlighted areas of collaboration.

"Adoption of standards positively impacts the return on investment in technologies that improve collaboration between trading partners," said Bill Le Sage, Chairman of the Board of PIDX International. "Education and outreach programs help improve adoption. With Energistics' focus on petrotechnical data exchange and PIDX's focus on data exchange for eBusiness, together we can leverage our global presence for the benefit of the industry and our respective Members. This Memorandum of Understanding gives our two organizations the platform to manage these educational and outreach programs effectively."

"While we have enjoyed a close but informal relationship for many years, we realized that a positive impact for standards adoption could be achieved through this MoU," said Jerry Hubbard, CEO, Energistics. "We've already coordinated presentations at industry events and are looking forward to bringing the message to other regions of the globe."

PIDX International provides a global forum for delivering the process, information and technology standards that facilitates seamless, efficient electronic business within the oil and natural gas industry and its trading community. www.pidx.org

Energistics is a global, not-for-profit, membership organization that serves as the facilitator, custodian and advocate for the development and adoption of technical open data exchange standards in the upstream oil and gas industry. Uniquely designed to unite upstream industry professionals in a neutral and collaborative facilitation environment, Energistics membership consists of integrated, independent and national oil companies, oilfield service companies, software vendors, system integrators, regulatory agencies and the global standards user community. www.energistics.org.