The Austin, Texas-based company with an office in Denver, is also marking the surpassing of $300 million in annual recurring revenue. Company officials said Thursday the new name better reflects the company’s identity.
“Our company’s purpose is to create the future of the energy industry together in collaboration with our customers and partners. This is a larger mission than we began with and represents our evolution to becoming Enverus,” co-founder Allen Gilmer said in a statement.
In the past three years, the company has grown through market expansion and acquisitions, officials said. Drillinginfo acquired Denver-based Oildex in 2018 and Ponderosa Energy in 2016. Other acquisitions included Midland Map Co., Petroleum Listing Service and RigData.
The company now has three business units: Enverus Drillinginfo, Enverus Trading and Risk, and Enverus Business Automation.
Company officials said the new name reflects the company’s growth and philosophy: “En” for energy; “ver” for clarity and truth; and “us” for partnership, collaboration, people and humanity.
Enverus has more than 1,000 employees worldwide, including about 120 in Denver, and sells its platforms and products in more than 50 countries.
