P2 Energy Solutions Completes Acquisition of Merrick Systems12/01/2014
Acquisition expands company’s solution portfolio to serve upstream oil and gas production operations
DENVER, CO – (Dec. 1, 2014) – P2 Energy Solutions (“P2”), a leader in software and data solutions for the upstream oil and gas industry, today announced it has completed the acquisition of Merrick Systems, Inc. (“Merrick”), a leader in production management and field operations software. Many mutual customers already recognize the benefits from using both systems in their day-to-day operations, and will benefit from the closer integration of these capabilities.
“The addition of the Merrick solutions to P2’s portfolio creates opportunity for customers who want to optimize production by more tightly connecting field operations with the back office,” said P2 CEO Charles Goodman. “Driving greater value through real-time, data-driven operations is a top priority for our customers, particularly given the dynamics of today’s upstream oil and gas environment.”
P2 announced a pending deal with Merrick on November 13, and the transaction closed on December 1. Merrick is an experienced leader providing production management, hydrocarbon accounting and field operations software in the oil and gas industry. For over 25 years, Merrick has partnered with leading exploration and production companies to provide energy professionals with the software that gives them the comprehensive data they need to accurately manage their production, assets, and operations.
“We’re very excited to be partnering with P2 for the next phase in growth of our production management solutions,” said Merrick President and CEO Scott Raphael.
Merrick founder, board member and COO Samina Farid said, “P2 is a great fit for Merrick because our companies share many of the same core values, including a commitment to a world class customer experience and a dynamic culture for our employees.”
Raphael and Farid are joining P2 in leadership positions to drive customer collaboration and the integration of the Merrick and P2 solutions.
P2 Energy Solutions Empowers the People Who Power the World. Upstream oil and gas professionals who are focused on solving tough challenges rely on P2 software, data and analytics solutions to optimize their business performance. More than 1,500 companies from around the world use P2 solutions every day to manage their land assets, measure and process financial information, optimize production, manage their reserves and so much more. www.p2energysolutions.com.