Oil and gas data analytics company Drillinginfo is partnering with software platform designer MineralSoft and expanding into the mineral rights management sector.
The joint venture will allow Drillinginfo and MineralSoft, both based in Austin, to analyze portfolios in real time, including computer mapping, investment performance, royalty underpayments, and revenue, expense, and volume data by well, among other things.
“Managing minerals properly and responsibly is just one of many aspects of the oil and gas industry,” said Allen Gilmer, chairman of Drillinginfo, “but it’s an aspect that is currently growing in importance.”
Drillinginfo has largely served exploration and production companies. Mineral owners and managers look at the same information in a “completely different” way, Gilmer said — with an eye on valuing, buying and selling mineral rights.
The National Association of Royalty Owners estimates 12 million private owners of mineral and royalty interests in the U.S., including banks, endowments, investment funds, states and universities, among others.
The alliance with MineralSoft marks the fourth announcement in six months by Drillinginfo.
In 2016, it acquired Chicago-based GlobalView Software and its flagship product, MarketView, which allows companies across the energy supply chain to monitor prices while trading. Late last year, it bought forecasting assets from Denver-based Ponderosa Energy. And in January, Drillinginfo announced a new suite of oilfield services software.