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Drillinginfo Acquires Oildex Expanding Capability by Integrating Financial Automation SolutionsAUSTIN, Texas, Sept. 18, 2018 /PRNewswire/ -- Drillinginfo, the leading energy SaaS and data analytics company, has acquired Oildex, the largest oil & gas financial automation software firm in North America. This combination will transform the way the industry connects, collaborates, and automates data exchange for financial transactions and field operations. "By acquiring Oildex, we immediately expand our E&P and Oilfield Services base and reach across the energy value chain with Oildex's full suite of financial automation solutions for automating invoicing, payments, field tickets, and data exchange. Oildex is a leader in managing relations between operators and their valued mineral rights owners, which enables us to accelerate our growth priority in the large mineral owner market. Our common core customer base and approaches to platforms in the cloud spark an immediate synergy," said Jeff Hughes, CEO and President of Drillinginfo. "Drillinginfo has a reputation for enabling energy companies to gain efficiencies and understand competitive positioning," added Craig Charlton, CEO Oildex, an Accel-KKR portfolio company. "They have evolved beyond just focusing on upstream activity to driving value creation for customers across multiple oil & gas market segments. Together we will be able to apply more of our problem-solving capabilities to help the oil & gas industry," said Charlton. The Oildex network excels at enabling seamless and secure collaboration across business partners, automating critical business processes, and eliminating the high cost and errors associated with handling paper. Drillinginfo's vast store of current and historic industry data combined with built-in analytics will complement these capabilities in a way that no other combination could. Additionally, solutions for oilfield services (OFS) are an area of rapid innovation and growth for both companies. Combining Drillinginfo's powerful OFS mobile app with Oildex's OpenTicket and the broader suite of Oildex'sfield services management tools will provide an unmatched end-to-end SaaS platform for oilfield services. Drillinginfo will connect workflows from lead generation to job delivery and payment processing, reducing costs, improving resource utilization, and increasing productivity and transparency to make better business decisions. This incredible combination for oil & gas service providers is scalable and can serve the needs of customers ranging from small regional businesses all the way to global OFS companies. Minerals represent a growth area for both companies' solutions, which will only get stronger as a result of the combination. In today's "cash is king" market environment, operators are increasingly outsourcing non-core services like owner relations, including check stub processing, call centers, and payments. This frees up precious resources and sharpens focus on their actual competitive advantage — drilling better wells. "We aim to provide a decision support platform combined with financial automation that adds far more value than simple process efficiency within any one segment or function," added Hughes. "The extensive and growing network of industry participants will create a multiplier effect of value for every business served. We couldn't be more excited." Oildex is hosting its annual User Conference September 18-20 in Park City, Utah. The Oildex team will join Drillinginfo and add their teams from downtown Denver, Houston, Calgary, Austin, and Tennessee, along with several remote location team members. This marks the first acquisition Drillinginfo has made after Genstar Capital purchased a majority stake in the company from Insight Venture Partners in July 2018. About Drillinginfo About Oildex
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