PetroStrat Expands in U.S. with Acquisition of Paleo-Data Inc.

Source: 5/19/2022, Location: North America

PetroStrat Ltd, a world leading integrated subsurface geoscience services provider to the oil and gas industry, has acquired Paleo-Data Inc (PDI) in New Orleans, Louisiana, an employee-owned, full-service Biostratigraphy consulting firm primarily serving the offshore Gulf of Mexico and onshore Gulf Coast.

For PetroStrat, the acquisition bolsters its existing U.S. offering PetroStrat Inc (with offices and labs based in The Woodlands, Texas), helping further support the energy transition by expanding its full-service paleontology and geology services across the globe, broadening its U.S. client base, nearly doubling its U.S. staff, and adding substantial data assets.

PDI’s expertise and data on foraminifera and calcareous nannofossils, from Jurassic through Quaternary ages accumulated over its 50-year history, complements PetroStrat’s strengths while giving the business access to the largest and only single-source biostratigraphic data set covering the Gulf Coast.

Comments from the people involved
Paul Cornick, Managing Director of PetroStrat, said: “With strong synergies and little overlap, this acquisition is a perfect fit for us, and creates an opportunity to ensure PDI’s knowledge is disseminated beyond one small – but expert – team.”

He added: “PDI’s strong blue-chip client base also enhances our ability to deliver on our strategy plan for growth in the U.S.”

PetroStrat BD Director John Gregory pointed out the advantages of both timing and location for the acquisition: “The timing is ideal as the Gulf of Mexico market is rebounding from an all-time low, and with Louisiana in the likely heartland of future carbon capture usage and storage development – CCUS – we see more opportunities for applying stratigraphic expertise during the energy transition.”

PetroStrat Acquisition of Paleo Data Ryan Weber
Ryan Weber, Paleo-Data President said: “Becoming part of a broader team allows Paleo-Data to better allocate our talents, focus on product development, and streamline our services to adapt to our industry’s everchanging demand.”

Forging a strong future together
The newly acquired business will operate in the near term as “Paleo-Data, a PetroStrat Company,” and will retain its office and laboratory in New Orleans, complementing our existing facilities in Houston.

PetroStrat is a leading and global provider of integrated geoscience services, delivering best in class subsurface solutions to the energy industry, enabling customers to make informed strategic, operational and commercial decisions. They bring together the data, analytical services and world leading expertise under one roof, delivering agile, flexible, innovative, cost effective and HSE conscious solutions, to de-risk exploration and development targets and reduce asset uncertainty

The team, in partnership with their clients, has worked on some of the biggest oil and gas discoveries in the world and has a proven track record in delivering significant return on investment for a range of clients from service companies and small independents, to super majors and state oil companies

PetroStrat’s headquarters and main laboratories are in Conwy, North Wales, with offices in St. Albans (UK) and Northwich (UK), Houston (USA), Calgary (Canada), and facilities through joint ventures and collaborative agreements in Trinidad, Kuala Lumpur and Mexico. Clients include many of the world’s international and national oil companies.

Paleo-Data Inc. is an employee-owned, full-service Biostratigraphy consultancy working primarily in the US Gulf of Mexico and Gulf Coast, with additional international experience. Paleo Data Inc. maintains and updates substantial databases which utilize a consistent and proven biostratigraphic framework for optimal uniformity and accuracy in stratigraphic correlation.

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