OKLAHOMA CITY, OK – Oseberg, leading innovator in the oil and gas industry has raised $3 million in Series B financing from undisclosed investors.
Oseberg is a developer of a SaaS-based data analytics tool. Oseberg helps oil producers and drillers with activity tracking and visualization to give its customers an edge in the industry.
The company’s data solution is directed at the document and data “vaults” where valuable information is stored. Oseberg connects public records published by local, county, state, and federal agencies into a single interface. The company collects land data from these various jurisdictions, and then converts this data into intelligence that oil and gas producers can use in a number of ways.
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The Oseberg tool provides data around, for example, leases, when wells will be drilled, or when they will be completed. Helping its customers glean data on competitors’ next moves drives better forecasting around activity. Oseberg also enables companies to more easily and quickly find open acreage or distressed leases by collecting and providing needed data that is otherwise buried in documents in the courthouse or regulatory agency.
The January 4 deal comes on the heels of the company’s announcement in December that it acquired a production dataset from Kansas-based PetroBase, an oilfield software solutions provider that creates automated workflows for engineers. The new dataset offers extensive coverage of oil and gas production volumes from wells within Oklahoma.
Evan Anderson, CEO of Oseberg, said in a press release, “This acquisition raises the bar on benchmarking and offers a significant first mover’s advantage for companies looking to develop lucrative Oklahoma shale plays like the Merge, SCOOP/STACK and Arkoma. Every operator and financial analyst wants [sic] to understand how to improve performance, and the best way to do that is to analyze the tangible results – the production volumes from new wells. You simply can’t afford to be the last one to know and then miss the next big shale play.”
Oseberg’s new raise follows its previous 2015 raise with Houston Ventures – creating a significant valuation bump over the last three years.
Visit www.oseberg.io to learn more about this company.
