Parcel-level Data Extends Offering for Oil and Gas Customers
Austin, Texas, And Houston, April 23, 2009 – First American Spatial Solutions, a member of The First American Corporation (NYSE: FAF) family of companies and a leader in spatial and natural hazard risk solutions, and P2 Energy Solutions, a leader in oil and gas information technology, announced today that they have signed an agreement that will enable P2 Energy Solutions to distribute the First American ParcelPoint® database.
ParcelPoint is a national database containing information on more than 113 million U.S. land parcels. The data, which includes the parcel boundary, centroid (or geometric center of the parcel) and physical address is highly accurate and regularly updated by First American Spatial Solutions.
ParcelPoint is part of First American Spatial Solutions’ vast portfolio of data resources that allow industries to accurately locate properties for asset management and property-level risk assessment. Parcels can be used for identifying correct property locations for compliance, tax and risk management purposes.
This level of precise property data allows energy customers to utilize information that can help them with asset placement, right-of-way planning, product transportation and regulatory compliance. ParcelPoint will complement and enhance the information and asset management solutions that P2Energy Solutions supplies to its customers in the oil and gas, wind and solar markets.
“First American is excited to partner with P2Energy Solutions to provide its energy customers with data to help them more efficiently locate and manage their field assets,” said Scott Little, vice president and general manger of First American Spatial Solutions. “By providing access to the most accurate and comprehensive parcel database in the U.S., we enable energy companies to improve decision making, reduce lease acquisition time and quickly identify new areas for drilling.”
“Like First American, P2 Energy Solutions prides itself on attention to detail and makes a commitment to our customers to provide accurate and comprehensive spatial data information,” said Bret Bolin, president and chief executive officer of P2 Energy Solutions. “First American’s ParcelPoint is a natural complement to our extensive Tobin Map Data line of products. This combined offering will give our customers a competitive edge when mapping out their exploration and production strategy.”
For more information about P2 Energy Solutions and ParcelPoint, contact Rob Walter, electronic communications specialist for P2 Energy Solutions at rwalter@p2es.com or (713) 590-2489.
About P2 Energy Solutions
P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry’s most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Reserves Management, Excalibur, Qbyte, Enterprise Land, Tobin GIS Studio™, Tobin SuperBase™ and Wellcore. With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls. The company has an 80-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com.
About The First American Corporation
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of approximately $6.2 billion in 2008, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.
