The company was founded in 2000 with the single focus of assisting O&G companies to develop capability and competency in oil and gas measurement. Since its founding, they have trained more than 2000 measurement technicians, analysts, and engineers in the fundamentals of oil and gas measurement. In 2002, the Sarbanes-Oxley Act was passed by Congress, placing certain operating practice requirements on public companies. In response, this company initiated development of Standard Operating Procedures (SOPs), creating detailed field practice in alignment with industry standards, and addressing oil and gas company SOX requirements. The company has since developed oil and gas measurement SOPs for over 20 operators.
The company is a well-established brand in the measurement market which offers certification in measurement fundamentals, and continuing education units (CEU). Measurement Training is the vehicle for supporting sales of Standard Operating Procedures.
2023 revenues through 3Q are $584k with $214k SDE, compared to full year 2022 of $602k in revenue and just under $200k in SDE. The business has substantial potential with the focused attention of an owner operator to capitalize on the already developed SOP detailed field practices related to the operation and maintenance of the oil and gas measurement process.
Its parent company is narrowing its focus to its software company subsidiaries and their operations and is seeking to sell this division to a company or individual that can continue to support its valued customers in this capacity.
