The consolidation trend continues – Quorum buys Entero

Quorum announced late last week that they had purchased Calgary-based Entero.  As both companies have had considerable success in their respective markets – Quorum in the US E&P and midstream oil and gas space and Entero in the same segments in Canada – the combining of the two companies does make considerable business sense. With an improving outlook for continued investments in land acquisition and drilling activity in the US and Canada, as well as continuing development of support infrastructure (including pipelines – another area of Quorum strength), the combined organization is well-positioned to dominate the North American up-stream and mid-stream markets. Though neither company sits directly in the ETRM/CTRM space, both Quorum and Entero have maintained energy marketing capabilities that do overlap with ETRM solution providers. Quorum, via their acquisition of Woodlands Solutions in 2014, did attempt to grow their capabilities in the ETRM space for a time (including power trading), but soon after the departure of Woodlands founders, Mike Muse and Steve Wall, the company appeared to pull back from, or at least de-emphasize their ambitions in the broader trading and risk markets. Entero has consistently maintained a presence in the mid-stream liquids marketing space, and many of… continue reading
Continue reading The consolidation trend continues – Quorum buys Entero. This article appeared first on CTRM Center.