Upstream oil and gas solution providers combine to expand Canadian market leadership
Calgary, AB -- (ReleaseWire) -- 01/16/2015 --3esi (www.3esi.com), a leading provider of integrated business planning and operations solutions for the Exploration and Production sector, today announced it has acquired COGS Solutions (www.cogss.com), a Calgary based provider of capital management and budgeting software for upstream oil and gas companies.
Founded in 2005, and headquartered in Calgary, 3esi has been rapidly expanding its global operations with offices in the United States, United Kingdom, Spain, Australia, Columbia, United Arab Emirates and New Zealand. The company was recently ranked in Deloitte's Fast 50™ and Fast 500™, recognizing the fastest growing technology companies in Canada and North America respectively.
"As another Calgary based company with similar values around community, team, and transforming our industry for the better, COGS solutions was a perfect fit for us" says Wayne Sim, co-founder and CEO of 3esi. "The obvious synergies between our two companies will have benefits for both customers and employees, short and long term. Demand for our solutions is increasing every day as more and more operator's look for ways to deliver increased value for investors out of portfolios that are under increasing pressure. We have been seeking an opportunity such as this for some time as we strive to deliver on our founding goal of providing comprehensive solutions for operators of every size, across all tiers of the upstream oil and gas industry."
COGS solutions President and co-founder Duncan McDonald will stay on with 3esi post-acquisition assuming the role of Vice President, Planning Products. "I, along with the entire COGS team, am thrilled to be joining the 3esi family. 3esi is a fantastic company, with a great story and incredible potential" says McDonald. "This acquisition is a natural union of both company's industry expertise and experience. Over many months of discussion with 3esi it became apparent that our complimentary products and our common vision were a natural fit. We are extremely excited about what the combination of our two teams will achieve in this dynamic industry over the coming years".
For more information about 3esi, or to arrange an interview, please contact Jeremy Greene - firstname.lastname@example.org - or visit their website at http://www.3esi.com
3esi is an international company headquartered in Calgary, Alberta, Canada created to assist Exploration and Production (E&P) companies in maximizing shareholder value by better understanding, managing, and optimizing the E&P Supply Chain. 3esi's leading solutions for Integrated Business Planning and Operations have been helping upstream oil and gas companies make better capital decisions and improve planning processes since their first launch in 2005. Since that time, 3esi customers have been achieving more consistent and predictable results across the entire oil and gas value chain, in more than 75 installations worldwide.
About COGS Solutions
Calgary based COGS Solutions provides industry-changing software for capital management, budgeting, forecasting and corporate planning. With COGS' software solutions, companies can monitor the real-time health of their business, instantly see their overall spend, ensure budgeted capital matches production goals, and automate access to AFE information. Since its inception in 2004, the COGS team of business and software experts has