Enverus announces the acquisition of four exchange platforms from PDS Energy Information: The Frac Interference Exchange, Well Data Exchange, Production Data Exchange and AquaTrade.
Enverus already operates two of the energy industry’s largest commercial exchange networks. EnergyLink and OpenInvoice collectively support more than 500 operators, 40,000 suppliers and 250,000 receivers, representing more than $500 billion in annual transaction activity across revenue, joint interest billing and procurement. With this transaction, Enverus expands from commercial workflows into the operational data flows that drive completions, well data, production and water logistics.
The acquired platforms are operating infrastructure for the U.S. upstream industry. An estimated 80 percent of U.S. completions, production and drilling data is exchanged through the PDS network, connecting nearly 800 participants. The Frac Interference Exchange alone has more than 400 operators.
“PDS built exchange infrastructure that sits inside real work the industry executes every day,” says Manuj Nikhanj, CEO of Enverus. “Adding these platforms to the networks Enverus already operates is a natural step, and it opens up possibilities for customers.”