DENVER & HOUSTON--(BUSINESS WIRE)--petroWEB Inc. and Neuralog LLP today announced that they have entered into a definitive agreement under which petroWEB is acquiring the NeuraDB business from Neuralog including key development, support, consulting and sales resources.
With this acquisition petroWEB will be positioned to deliver the next generation of PPDM-based E&P data management with web technologies to provide broad access from a host of computing devices. Type of deployments will include cloud, on-premise and SaaS. The primary focus will be well data, geological data, well logs, documents, production and reserves management and will include Neuralog’s robust set of well and log data loading tools.
“Cloud and on-premise web deployments represent the future of E&P data management,” says Darcy Vaughan, petroWEB CEO. “For energy companies, it means easy and immediate data access for their users across a broad spectrum of devices and at a lower TCO. We at petroWEB are excited to take NeuraDB to this next level and are very pleased that the people who have made NeuraDB such a success will join us in this next step.”
“Neuralog, and particularly the NeuraDB team, are very pleased about the acquisition of the NeuraDB business by petroWEB,” says Robert Best, President of Neuralog. “This partnership will enable us to leverage Neuralog’s years of experience in working with PPDM, E&P data, well logs and G&G applications to develop our solution into the industry benchmark for an easy to use, web-based E&P data management system.”
Terms of the acquisition were not disclosed. Subject to various closing conditions, the acquisition is expected to close by the end of June 2013.
About petroWEB
petroWEB has been providing industry-leading GIS solutions for over 17 years with a focus on the integration of spatial data with technical and business data. NAVIGATOR, petroWEB's GIS framework product enables seamless integration of corporate and commercial data with analytical tools to provide targeted, scalable workflow solutions. petroWEB’s extensive geoscience, mapping, geological, engineering, data management and GIS experience and expertise spans decades with a proven track record of developing and delivering successful enterprise solutions. Learn more at www.petroweb.com.
About Neuralog
Neuralog, Inc. was founded in 1991 to find creative solutions for problems in the petroleum industry through the application of advanced computer science technologies and client direction. Today Neuralog software solutions are recognized around the world as the best digitizing and exploration reconnaissance tools available. Currently, over 1,000 customers in 70 countries use Neuralog products. These include majors, small independents, and many digitizing service centers. Neuralog is dedicated to maintaining leadership in the field of paper to vector data capture and other cutting-edge products that enable the geoscientist to be more efficient and accurate. Learn more at www.neuralog.com.
