Drillinginfo, an energy SaaS and data analytics company, has changed its name to Enverus. Headquartered in Austin, Enervus is a portfolio company of Genstar Capital.
Correction: The previous headline of this news report misspelled Enverus. It has since been corrected.
Austin, TX (August 22, 2019) – Drillinginfo, the leading energy SaaS and data analytics company, announced today that it has changed its corporate name to Enverus. Marking both the company’s 20th anniversary and surpassing $300 million in Annual Recurring Revenue (ARR), the new name and brand better reflects the company’s identity as a leading data, analytics, and efficiency partner across the energy sector.
“Our company’s purpose is to create the future of the energy industry together in collaboration with our customers and partners. This is a larger mission than we began with and represents our evolution to becoming Enverus,” said Allen Gilmer, co-founder and visionary of the company. “I am so proud of our tremendous growth over the past two decades. We’ve never been better positioned to partner with our customers across the energy spectrum to help define its future. Now more than ever, we can deliver the most cutting-edge innovations to serve and fuel our industry’s leading innovators.”
“This business was started by ‘oilpatch kids’ in 1999 when the industry was on the cusp of both a massive digital revolution and a once-in-a-lifetime disruption from unconventional oil and gas. Over time, that team built a recognizable and iconic organization throughout the upstream oil and gas businesses. Together we achieved unprecedented energy production in the U.S. and across the globe. From the beginning, we have fueled ourselves by the power of our phenomenal people, and those people are now building the most important, integrated problem-solving platform across the world’s largest, most significant, and impactful industry ever – energy,” Gilmer said.
During the last three years, the company has grown tremendously through product innovation, market expansion, and acquisitions. Enverus will now be comprised of three business units – Enverus Drillinginfo, Enverus Trading & Risk, and Enverus Business Automation – all of which are highly complementary to one another and together create value for customers that could never be achieved otherwise.
Jeff Hughes, CEO and President, added to Gilmer’s remarks noting that, “The vision was always to build a company that created uniquely valuable data through active connections between businesses in the energy industry. We now operate the largest such system of active networks that has ever existed, and it is growing rapidly. The data analytics that result from this historically unique graph of energy industry participants are unprecedented, and it will create value for our customers that could never be provided any other way. This is an example of how our capabilities have expanded so much since our founding and we came to believe that our name no longer reflected our reach, so it was time to modernize the brand.”
The name Enverus is comprised of three elements that when combined, reflect the company’s past, present, future, and overall philosophy. EN: the energy industry; VER: clarity and truth; and US: partnership, collaboration, people, and humanity.
Jeff Hughes concluded by saying, “Energy is the largest industry in the world with unique regulatory, geopolitical, technological, demographic, and environmental complexities. Enverus will continue leading the industry in tackling these complexities with offerings that include irreplaceable efficiency tools and analytics that enable better, faster decisions. More powerfully, each of these capabilities connect our customers in ways which create value like no other business in the world.”
Enverus is the leading data, information, and insights provider serving the energy sector. The Company is dedicated to helping create the future of energy, by leveraging its innovative technologies to deliver intelligence and analytics. Through its SaaS based platform, Enverus provides customers across the energy industry with decision support, analytics and insights to help navigate the future of the energy space. Its platforms span the category, including Oil & Gas, Trading & Risk, and Business Automation. With more than 1,000 employees across the globe, the Company’s platforms and products are sold in more than 50 countries bringing together the technology of Drillinginfo, PLS, 1Derrick, MineralSoft, Midland Map Co., MarketView, DataGenic, PRT, Oildex, Cortex, EnergyLink and RigData as one company. Creating the future of energy together. Learn more at www.enverus.com.