Verisk Analytics, a data analytics provider and the owner of the energy intelligence firm Wood Mackenzie, has acquired Quest Offshore Resources’ data and subscriptions business.
“We welcome the addition of Quest Offshore’s data and subscriptions business,” said 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 data and subscriptions business will become part of Wood Mackenzie, a Verisk Analytics business, and will complement Wood Mackenzie’s existing upstream analysis expertise.
“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,” added Neal Anderson, president of Wood Mackenzie.
“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.
Quest Offshore’s Retained Business
Quest Offshore’s focus on the energy markets will continue through its Consulting and Conference Divisions, both of which will be retained by Quest Offshore.
“The sale of the data and subscription business will allow us to focus more effort and resources into MCE Deepwater Development, as well as expand our network to serve future industry events,” said John Chadderdon, CEO of Quest Offshore.