IHS Energy, which specializes in analyzing energy exploration and production (E&P) data around the world, has acquired Cambridge Energy Research Associates (CERA), whose analysis covers energy markets, geopolitics, structure and strategy. The partnership, said the IHS Group subsidiary, will build on the companies’ joint resources to expand their database and operations support. No financial details were disclosed.
“This powerful combination will create a depth and range of analytical capability that does not currently exist,” said Ron Mobed, president and COO of IHS Energy. “Together, IHS Energy and CERA will build upon our global expertise and resources to provide comprehensive advisory services to the energy industry — from global information and operations support to market insight and strategy.”
CERA Chairman Daniel Yergin, who leads his company’s team of energy experts, said “the timing of this merger is based upon our common view of the needs ahead.” The new partnership will enable companies to address the growing challenges in the global energy market, which include new competition, changing regulatory regimes and new technologies, he said.
“We see a definitive shift based upon growing demand, the emergence of major new consuming countries, the need for new supplies, and environmental requirements — underlined by the fact that the world oil market is tighter today than it was at the beginning of the 1973 oil crisis.”
Yergin, who won a Pulitzer Prize for General Nonfiction for his book, The Prize: The Epic Quest for Oil, Money and Power, will become a member of the executive leadership of IHS and will continue to serve as chairman of CERA. He said CERA will continue to offer strategic insights and analysis of market fundamentals for companies and organizations in the global oil, natural gas and electric power industries.
“CERA has built a unique leadership position across the entire energy spectrum, and we are committed to supporting and enhancing its distinctive mission,” said Mobed, who joined IHS Energy in April 2004 after spending 22 years with Schlumberger. “IHS Energy and CERA together form the largest, most geographically complete, and most intellectually strong partnership under one umbrella. We are proud to be joining forces, and look forward to making an even greater contribution to the growth and productivity of the energy industry worldwide.”
IHS Energy is headquartered in Englewood, CO, and it currently gathers and reports E&P information on more than 230 countries where energy resources exist.
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