IHS Acquires RapiData
Thursday, March 22, 2007
IHS Inc. has acquired the RapiData product, well known for its comprehensive well test, pressure and completions data for the Western Canadian Sedimentary Basin. IHS purchased RapiData from Rapid Technology Corporation of Calgary, Alberta, Canada.
RapiData is the only complete source of well test, pressure and completions data for Western Canada. IHS has been a partner with Rapid since 2003. IHS products AccuMap and Enerdeq use RapiData to provide exploration and production (E&P) companies desktop access to information used to evaluate reservoir pressures and well-flow rates, forecast flow and pressure declines, and estimate reservoir size.
"The acquisition of RapiData is consistent with the IHS strategy of providing superior information to E&P companies' desktops," said Ron Mobed, president and chief operating officer of the Energy segment of IHS. "The combination of existing IHS products and RapiData will allow E&P companies of all sizes to make informed, profitable decisions at all stages of a well's lifecycle and development. IHS is committed to a vision of transforming physical data sets into high-value, high-speed, on-demand digital data sets. The acquisition of RapiData represents a substantial step forward for that vision."
The Energy segment of IHS enables oil and gas companies worldwide to create and maintain best-in-class decision-making processes by providing and integrating essential exploration and production information, intuitive software and consulting services.
Rapid Technology Corporation is a privately held company that provides integrated software, data and engineering solutions for the oil and gas industry. Following the sale of its product line to IHS, Rapid Technology Corporation will be a holding company with an investment interest in publicly traded Rapid Solutions Corporation which is unaffected by the sale.
IHS is a leading provider of critical technical information, decision-support tools and related services to customers around the world. Its data and services are used primarily by the energy, defense, aerospace, construction, electronics, and automotive industries.
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