CONWY, U.K. — PetroStrat Ltd., an integrated subsurface geoscience services provider to the oil and gas industry, has acquired Louisiana-based Paleo-Data Inc. (PDI), an employee-owned, full-service biostratigraphy consulting firm primarily serving the offshore Gulf of Mexico (GoM) and onshore Gulf Coast.
This action aligns with the PetroStrat strategy of further supporting the energy transition by expanding its full-service paleontology and geology services across the globe, the company stated in a recent news release.
For PetroStrat, the acquisition bolsters its existing U.S. offering, based in The Woodlands, Texas, by broadening its U.S. client base, nearly doubling its U.S. staff, and adding substantial data assets.
PDI’s expertise and data on foraminifera and calcareous nannofossils, from Jurassic through Quaternary ages accumulated over its 50-year history, complements Petrostrat’s strengths while giving the business access to the largest and only single-source biostratigraphic dataset covering the Gulf Coast.
John Gregory, PetroStrat business development director, commented, “The timing is ideal, as the Gulf of Mexico market is rebounding from an all-time low, and with Louisiana in the likely heartland of future carbon capture usage and storage development—CCUS—we see more opportunities for applying stratigraphic expertise during the energy transition.”
The newly acquired business will operate in the near term as “Paleo-Data, a PetroStrat Company,” and will retain its office and laboratory in New Orleans, La., complementing the existing facilities in the Houston area.