Verisk Analytics, Inc. entered a deal to acquire the data and subscriptions business of Quest Offshore Resources, which supplies market intelligence to the offshore oil and gas sector.
The data and subscriptions business will become part of Wood Mackenzie, a Verisk Analytics business, and will complement Wood Mackenzie’s existing upstream analysis expertise. This transaction expands on the services offered by Infield (part of Wood Mackenzie specializing in offshore supply chain intelligence) and Wood Mackenzie’s upstream suite of data and analysis products. By bringing these resources together in one place, Wood Mackenzie will be able to offer clients a comprehensive, transparent, and granular analysis of the offshore oil and gas sector.
“Through this acquisition, our upstream oil and gas clients will be able to make better investment decisions through access to a unique understanding of availability, capability, and price in key offshore equipment and service markets,” said Neal Anderson, president of Wood Mackenzie. “We’re now able to draw together our own upstream data set and analysis, which include the expertise offered by Infield, with the proprietary systems developed by Quest Offshore’s data and subscriptions. This enhanced offering will give clients the commercial edge to develop offshore opportunities at a time when every new investment must work harder.”
“We welcome the addition of Quest Offshore’s data and subscriptions business, which will further enhance Wood Mackenzie’s client offering,” added Scott Stephenson, chairman, president, and chief executive officer of Verisk Analytics. “This follows our strategy to invest in businesses with unique data assets, deep domain expertise, and market-leading analysis.”
"The sale of Quest Offshore's data and subscriptions business to Wood Mackenzie, including the market sector specialist personnel who drive it, will enable our collective clients to receive an expanded service offering and added strategic value," added Paul Hillegeist, president of Quest Offshore.