Quayle Munro is pleased to announce that it has advised RigData, a provider of daily information on rig activity for the natural gas and oil markets across North America, on its sale to S&P Global Platts. The purchase extends the S&P Global Platts energy analytical capabilities by strengthening its position in natural gas and enhancing the company's oil offering. Financial terms were not disclosed.
Founded in 1986, RigData provides over 5,500 customers in North America with daily electronic reports on drilling permits, activity and rig locations in the United States, the Gulf of Mexico and Canada. Customers use the information to identify new sales opportunities, assess market share, identify exploration trends, find available rigs, identify new production and monitor market activity.
Ed Seifert, president of RigData, said: “We have had a long relationship with Quayle Munro and benefitted from their informal counsel in the years leading up to the transaction. When the time came, their insight and advice was invaluable in helping us to find the right home for the business, and they ran an effective and efficient process. They exceeded our expectations and we greatly appreciate their skill, good judgment and hard work.”
In the last nine years, Quayle Munro has concluded 22 transactions in the energy and commodities data & analytics, software and services sector, completing transactions with parties including Bloomberg, Dow Jones, Hellman & Friedman, IHS, S&P Global Platts, RELX, Thomson Reuters, Warburg Pincus and Wood Mackenzie.