Post Tagged with: "largest oil and gas E&P software company"

Emerson to Acquire Paradigm in Half-Billion-Dollar Oilpatch Software Deal

Emerson will become largest E&P software provider to global oil and gas industry Today St. Louis’s Emerson (NYSE: EMR) announced it will acquire Paradigm®, a provider of software solutions for oil and gas companies, for a purchase price of $510 million, reflecting a multiple of 13 times expected 2017 EBITDA. By Paradigm joining Emerson’s existing Roxar software business targeting exploration and production customers’ (E&P) software needs, Emerson becomes the largest E&P software solutions provider. The combined business offers software for E&Ps that spans seismic processing and interpretation to production modeling. Machine learning in the oilfield helps limit E&P non-productive drilling Interpreting data and generating high-fidelity representations of existing brownfield assets lets oil and gas companies avoid non-productive drilling and exploration spending, the company said in a statement. In addition, Emerson’s expanded services now enable oil and gas operators, through machine learning and cloud computing, to make decisions in the field leading to[Read More…]