DALLAS (May 24, 2016) – Oil and gas firm EquityMetrix announced today that it has restructured and transitioned its Revenue Recovery service to Lease Analytics, LLC. In addition, it has spun off its technology to a new entity, EMX Technologies LLC.
EquityMetrix was founded 13 years ago as the industry's first Revenue Recovery service. Over the years it collected tens of millions of dollars in lost revenue for its clients through the use of machine learning to reconcile land and accounting data looking for payment anomalies. It also developed a suite of SaaS-based products to help clients from large E&Ps to smaller mineral aggregators manage and analyze their land data.
"EquityMetrix had evolved into two distinct businesses: Revenue Recovery and SaaS-based Land Data Management. Separation enables both businesses to better succeed in a low-price environment. With this transition, Lease Analytics now offers Revenue Recovery to its clients, in addition to Revenue Assessments, Due Diligence, Data Migration," said Tom Agnew, CEO of Lease Analytics and co-founder of EquityMetrix. "EMX Technologies will continue to provide SaaS-based offerings, including Mineral Registry, Active Receipts and Digital Lease Review. Lease Analytics will be an important and valued partner and has licensed our technology to support its offerings,” said Jeff Brownlow, CEO of EMX Technologies.
About Lease Analytics, LLC
Lease Analytics is based in Dallas, Texas, and applies deep learning technology to solve complex problems in the oil and gas back office, from acquisition to divestiture. The company uses the most advanced data mining techniques to analyze land and accounting records to uncover errors and omissions, while generating significant savings in time and money. Please visit www.lease-analytics.com for more information.
About EMX Technologies, LLC
EMX Technologies, LLC, is based in Dallas, Texas, and is a leading provider of subscription-based oil and gas back office services. Using proprietary technology, the company cleanses data and provides its clients with instant access to their most critical land ownership data. Please visit www.equitymetrix.com for more information.
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Lease Analytics (LA) is pleased to announce that it has added Revenue Recovery to its services. This addition now makes LA a full service provider, ensuring accurate and complete data for its clients, from acquisition through divestiture. In the current down market, this new service brings incredible value to clients.
Revenue Recovery works by looking for needles in haystacks. First the LA deep learning techniques comb through land records classifying data and looking for subtle anomalies. Then experienced analysts confirm and document underpayments. Finally, the pursuit team collects these underpayments on clients’ behalf.
Lease Analytics founder and CEO Tom Agnew started the industry’s first Revenue Recovery service 13 years ago when he co-founded EquityMetrix.
“Large E&P companies can expect to recover 1% of revenue equating to roughly $10 million,” Agnew says. “For every dollar of underpayments collected, clients can expect to receive two dollars in future revenue.”
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