Platts, a global provider of energy and metals information and a division of The McGraw-Hill Companies, is to acquire BENTEK Energy, a privately held energy market analytics company headquartered in Evergreen, Colorado. The purchase price was not disclosed. The acquisition is expected to be completed in early 2011. Following the closing, BENTEK will continue to operate under its current name with its current management.
BENTEK, founded in 1985, offers a portfolio of data, information and analytics products in the natural gas and liquids sector. Its customers include the majority of the top firms in the energy industry, including independent producers, pipeline companies, and utilities, as well as industry regulators, financial institutions, and the largest energy hedge funds.
“BENTEK is a highly successful company whose leadership position has been attained through its deep understanding of energy industry dynamics, of the data reflecting those dynamics, and of the requirements of customers,” said Larry Neal, president of Platts. “By combining BENTEK’s analytical expertise with Platts’ products, we can offer customers a comprehensive view of the North American natural gas market. Our collective capabilities will provide them with a unique lens on the market – from underlying supply/demand fundamentals to real-time news and price information – and deepen our coverage of other complex commodity markets.”
Porter Bennett, BENTEK’s president and CEO, added that Platts’ current position in power, coal and liquefied natural gas, coupled with its global sales force, provides the opportunity to accelerate BENTEK’s plans for expanding into new commodities and international markets. “As part of Platts, we are better positioned to capitalize on the increasing internationalization and interdependence of the natural gas and liquids markets and address the growing global demand for fundamental market data and analysis.”
The BENTEK acquisition follows Platts’ announcement, reported on Fusion DigiNet, last week that it plans to acquire Oil Price Information Service (OPIS), a leading provider of news and price information to the wholesale and retail petroleum markets in North America. With the BENTEK and OPIS acquisitions, Platts will deepen its power coverage and broaden its oil coverage in the North American market.
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