Energy Domain, a tech-enabled online energy marketplace based in Fort Worth, has acquired AI-driven technology product Energent from Westwood Global Energy Group.
Energent is a market intelligence product that uses an artificial intelligence model to interpret satellite imagery, tracking rig locations, identifying frac crews, and providing valuable completion activity data, Energy Domain said in a news release.
“The delta between seller and buyer expectations is almost always development timing,” said Energy Domain CEO Ben Heinzelmann. “In our experience, that’s where deals fall apart, especially when you’re dealing with mineral, royalty, and non-operated working interest transactions. Operators are also in need of reliable data on their competitors and general market trends. With Energent, we’re providing all parties with accurate intelligence to bridge those gaps, helping clients make informed decisions to successfully complete acquisitions on Energy Domain and elsewhere.
“At Energy Domain, we’ve been strategic about data aggregation from the beginning. With the Energent purchase, we’ve acquired a data gathering tool we can continue to improve on into the future, thanks to its AI functionality – and we have big plans for that future.”
CFO David Clark of London-based Westwood Global Energy said, “Through our discussions with Energy Domain it was clear that they valued the innovation and potential of the Energent solutions. We recognized that this young and hungry team would provide the capability to accelerate its development and ensure it is exposed to the entire industry.”
“The synergies here are unmistakable,” said Energy Domain COO Malcolm Smith. “Having advanced knowledge about the location and timing of upstream capital allocation is important to both sides of the equation. Incorporating Energent’s location intelligence technology into the Energy Domain platform allows our clients to make better, data-driven decisions.”
Founded in 2021 by Ryan Vinson and the 5Ms Technologies team that created MineralWare and Energy Freelance, Energy Domain has parlayed dedication to technology, speed, and efficiency into triple-digit growth, the release said, integrating data, analytics and alerts to improve the way oil and gas properties are bought, sold and leased.
“Energy Domain empowers both sellers and buyers with a streamlined platform, nationwide reach, and powerful analytical tools,” said the news release. “Sellers benefit from instant connections to a diverse pool of qualified buyers, maximizing asset value through clear market data and efficient deal management. Buyers gain access to exclusive deals, simplified buying options, and targeted alerts that put them a step ahead of the competition.”