Sourcewater, Inc. Announces Acquisition of Digital H2O Data and Technology
HOUSTON--(BUSINESS WIRE)--Nov 27, 2018--Sourcewater, Inc., ( www.sourcewater.com ) the leading provider of oilfield water intelligence, announces that it has acquired the data and technology of Digital H2O, Inc., a subsidiary of Genscape, Inc., the leading global provider of real-time data and intelligence for commodity and energy markets.
Joshua Adler, Founding Chief Executive of Sourcewater said, “Digital H2O was a pioneer in the oilfield water data space. With the addition of their saltwater disposal analytics service and data archives to our industry-leading geospatial water intelligence platform, Sourcewater is now the definitive source for oilfield water market data both in to and out from the well pad. In the Permian Basin, we know where every drop of fresh, brackish, produced and flowback water comes from, where it goes, who has it, who needs it, and how much they are paying. Now we can also show the flow rates and logistical relationships between every operator lease and every commercial disposal in Texas, and the capacity utilization of most saltwater disposal and injection wells nationally. Water sourcing and disposal capacity are becoming the primary constraints on energy production in the Permian Basin and many other key regions, and Sourcewater is ideally positioned to ride this wave.”
Jon Ecker, CEO of Genscape said, “We were pleased to reach an agreement for Sourcewater, Inc. to acquire the technology and data of Digital H2O to expand their service. Through this transaction, Sourcewater will solidify its leading position in oilfield water intelligence and provide a truly comprehensive, end-to-end solution for its customers.”
Sourcewater, Inc., ( www.sourcewater.com ) based in Houston, Texas, is the leading provider of oilfield water intelligence. Sourcewater gathers data from its water marketplace, satellite analytics, government databases, market research, and IoT sensors to generate holistic, geospatial insight into oilfield water markets.
Sourcewater spun out in 2014 from MIT as the first online marketplace for water. Today over 1,000 companies and billions of barrels of water are active on Sourcewater.com.
Genscape is the leading global provider of real-time data and intelligence for commodity and energy markets, driven to improve market transparency and efficiency.
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KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ENERGY UTILITIES OTHER ENERGY TECHNOLOGY DATA MANAGEMENT SOFTWARE
SOURCE: Sourcewater, Inc.
Copyright Business Wire 2018.
PUB: 11/27/2018 09:30 AM/DISC: 11/27/2018 09:31 AM