P2 Energy Solutions, Inc. (P2ES) and The Oil & Gas Asset Clearinghouse (The Clearinghouse) Announce the Acquisition of P2ES Holdings, Inc. (Parent Company to Both P2ES and The Clearinghouse) by Vista Equity Partners

HOUSTON--()--P2ES Holdings, Inc. announces the investment in and recapitalization by Vista Equity Partners of both its software and data subsidiary, P2 Energy Solutions, Inc., and its auction and negotiated transactions subsidiary, The Oil & Gas Asset Clearinghouse, LLC. Vista, a private equity firm with over $2 billion in committed capital, invests in private and public technology-enabled companies, focusing on successful organizations committed to maintaining industry leadership. Friedman, Billings, Ramsey & Co., Inc. served as the exclusive financial advisor to P2ES Holdings, Inc. in connection with this transaction.

The P2ES-Vista partnership is an important milestone for our company, said P2ES chairman and CEO Gary Vickers. Over the last nine years, we have grown through multiple acquisitions as well as a continual focus on delivering products and services that meet the strategic needs of our customers. Vista has an extremely successful track record of building leading software and technology-enabled businesses, and we look forward to working with them to make P2ES an even stronger company in the future.

Vista focuses on vertically specialized companies that develop and market software, software-as-a-service, technology-enabled business services and technology-enabled information services. Acquiring P2ES is consistent with Vistas strategy of partnering with exceptional executives in technology-oriented, high-growth potential markets. Vista chose to acquire P2ES because of its strong market position, product lines, loyal and satisfied customers, and its highly talented and devoted employees. Leveraging its experience with numerous other vertically oriented technology, data and services companies, Vista is uniquely qualified to help position P2ES for continued growth and will enable the company to strengthen and expand its position in the energy market.

Vista founder and managing principal Robert F. Smith said, We are long-term investors in technology companies that are committed to market leadership. We are tremendously excited about working with P2ES. Their domain expertise and vertical market focus have allowed them to help their customers address many of the issues facing the global oil and gas industry. We look forward to working with the management team in continuing to serve the needs of their current customers as well as building out their platform to offer additional solutions to both existing and new customers.

P2ES Holdings, Inc. is the leading software, data, auction and marketplace company focused exclusively on the oil and gas industry. P2 Energy Solutions has developed and implemented software applications used by over 340 E&P companies, including 70 percent of the top 25 public companies. The companys geospatial data products and services have been sold to over 2,000 customers including over 70 percent of the top 50 public E&P companies.

The Clearinghouse has built a reputation as a premier provider of A&D marketing and advisory services for the upstream and midstream oil and gas industry, having closed nearly $7 Billion in oil and gas asset and corporate transactions since its inception in 1992. The company is the only advisory firm in the United States that covers the complete spectrum of transaction services, ranging from leasehold to pipelines, small fields to major corporations, live auction to custom negotiated transactions. The Clearinghouse provides a single vendor solution for highly technical evaluations and industry-standard transactions.

About P2 Energy Solutions, Inc.

P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industrys most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Reserve Management, Excalibur, Qbyte, Enterprise Land, Tobin GIS Studio and Tobin SuperBase. With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls.

The company has an 80-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com.

About The Oil & Gas Asset Clearinghouse

The Oil & Gas Asset Clearinghouse is the premier provider of oil and gas property marketing and advisory services in North America. The Clearinghouse conducts 10 to 12 oil and gas property auctions annually in the United States and Canada, allowing its clients to participate through physical attendance or to compete in real time over the Internet. The Company also provides custom negotiated transaction services focused on identifying, quantifying and presenting reserves in a credible and professional manner. All of The Clearinghouse's marketing and advisory services are supported by a high level of reserve engineering, geo-science and land expertise. More information can be found at www.ogclearinghouse.com.

About Vista Equity Partners

Vista Equity Partners currently invests over $2 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support toward companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For information, visit www.vistaequitypartners.com.

Contacts

P2 Energy Solutions
Eric Flynn, 713-481-2000
eflynn@p2es.com
or
The Oil & Gas Asset Clearinghouse
Ken Olive, 281-873-4600
kolive@ogclearinghouse.com

Contacts

P2 Energy Solutions
Eric Flynn, 713-481-2000
eflynn@p2es.com
or
The Oil & Gas Asset Clearinghouse
Ken Olive, 281-873-4600
kolive@ogclearinghouse.com