P2 Energy Solutions to Acquire iLandMan
Leading upstream oil and gas software provider acquires iLandMan as part of strategic growth initiative.
DENVER, May 22, 2018 (Newswire.com) - P2 Energy Solutions (“P2”), the leader in upstream oil and gas software, announced today it has signed a definitive agreement to acquire iLandMan (“iLandMan”), a leading cloud-based land and lease management software provider.
Founded in 2006 and headquartered in Lafayette, LA, iLandMan is a SaaS-based, real-time tract- and formation-based software that provides complete access to all company projects, along with maps and reports that both increase efficiency and eliminate wasteful duplication of effort. With iLandMan’s strong market presence and proven track record, this acquisition furthers P2’s mission to help oil and gas companies increase operational efficiencies.
Of the acquisition, P2’s CEO, Scott Lockhart, said, “P2 continuously strives to help our customers drive down costs and improve overall performance by ensuring we have the solutions that meet the variety of needs of the modern upstream oil and gas company. iLandMan expands our ability to optimize lease acquisition and land management processes for companies of all sizes, and brings with it excellent customers, software, and dedicated colleagues.”
iLandMan co-founder and president, Tim Supple, said, “P2 was a natural fit for our customers and employees. iLandMan brings a deep set of capabilities that complement their production, accounting, data, and land management offerings. We look forward to continuing our track record of innovation and customer success as part of P2.”
Whitehawk Advisory, LLC and Evangeline Securities, LLC served as financial advisors to iLandman in connection with the transaction.