Acquisition extends platform by adding mineral royalty management capabilities
NeoFirma, a leading cloud based software provider to independent oil and gas exploration and production companies, announced it has acquired Dallas-based MineralFile, a cloud based software solution for managing mineral royalty revenue and associated mineral deeds, leases and wells.
MineralFile’s enterprise customers,including trust management firms, private equity groups and large religious organizations, will also benefit from NeoFirma’s cloud-based drilling and production software solution. The acquisition supports NeoFirma’s expansion to help companies manage non-operated investments in both working and royalty interests.
Steve Haglund, NeoFirma’s CEO, stated, “MineralFile will allow us to not only better serve our current customers who have significant non-operated interests, but attract additional sectors of the industry. As E&P’s continues to attract institutional money and with increasing overhead to operate, a larger component of the market could benefit from an intuitive, cloud based platform to manage these investments.“
MineralFile is the patented software application that enables land professionals and mineral owners to efficiently and effectively manage their assets. The web-based application makes it easy to track land data and royalty revenue from nearly anywhere with an Internet connection. MineralFile helps organizations of all sizes to manage their royalties without steep learning curves or the need for expensive servers or consultants.
NeoFirma’s cloud based well management platform includes drilling, production and non-operated management capabilities to independent E&P companies looking to respond to business conditions faster, improve reporting and operational efficiencies while delivering real-time reporting and transparency to their partners. The company was founded in 2005, is backed by T. Boone Pickens and supports over 70 clients.