Company:Wood Mackenzie

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Wood Mackenzie
TypeSubsidiary
IndustryResearch and consulting firm supplying data, written analysis, and consultancy advice on energy, chemicals, renewables, metals, and mining.
Founded1923
Headquarters
Edinburgh, Scotland
,
United Kingdom
Area served
Worldwide
Key people
Mark Brinin / Joe Levesque (Co-Presidents)
ServicesConsulting, Research, and Analytics
Number of employees
1,900
ParentVerisk Analytics
Websitehttps://woodmac.com

Wood Mackenzie, also known as WoodMac, is a global[1] research and consultancy group[2][3] supplying data, written analysis, and consultancy advice to the energy, chemicals, renewables, metals, and mining industries.[4] In 2015, the company was acquired by Verisk Analytics, an American data analytics and risk assessment firm, in a deal valued at United States dollar 2.8 billion.[5]

The company is based in Edinburgh, Scotland, though it has over 40 offices worldwide. Originally founded as stockbroker in 1923, the company's energy business was launched in 1973, when it started reviewing the North Sea oilfields.[6] Between 2007 and 2014, Wood Mackenzie acquired coal specialists Hill & Associates in the US, Barlow Jonker in Australia, and Brook Hunt, the UK-based metals analysts.[7][8][9]

Since 2015 a host of companies have become part of Wood Mackenzie including PSG, a petroleum database service; PCI, the specialist chemicals analysis group; Greentech Media, providing analysis of the solar market [10] and MAKE, providing analysis of global wind power.

History

The company was sold in 1987 to County Natwest by Trustee Savings Bank.[11] In a 2003 report the company claimed that 25 of the largest oil companies had "destroyed value in 50 of the 80 countries they have invested in over the past six years".[12] In a report from the company in 2005 it was discovered that Bangladesh will fail to meet natural gas demands by 2023.[3] In 2007 a report from the company on the Alberta oil sands said "higher royalties will have the biggest impact on high-cost, low-margin projects" this sparked what has been described as a "furious debate" within the oil industry.[13]

Detailed History:[14]

1973: North Sea Service, Wood Mackenzie's first industry research offering, was launched

1986: Wood Mackenzie purchased by Hill Samuel, the UK merchant bank

1987: Hill Samuel was acquired by TSB and sold Wood Mackenzie to County NatWest[15]

1997: NatWest sold its European equities business, including Wood Mackenzie, to Bankers Trust[16]

1999: Bankers Trust (including Wood Mackenzie) purchased by Deutsche Bank

2001: Management and employee buy-out from Deutsche Bank backed by the Bank of Scotland

2005: Refinancing deal, involving Candover Partners acquiring equity through the exit of Bank of Scotland

2007: Creation of coal team via acquisitions of Hill & Associates and Barlow Jonker. Divestment of Life Sciences division

2008: Creation of metals team via acquisition of Brook Hunt

2009: Refinancing deal, involving Charterhouse Capital Partners acquiring the majority equity stake in the business through the exit of Candover

2010: Acquisition of PetroPlan Refinery Model

2012: Refinancing deal, involving Hellman & Friedman acquiring majority shareholding whilst Charterhouse Capital Partners retained a minority stake.[17]

2015: Acquisition of Deloitte's Petroleum Services Group (PSG), a specialised oil and gas information business including a database of Exploration & Production (E&P) information

2015: Acquisition of Wood Mackenzie by Verisk Analytics

2015: Acquisition of Infield Systems, an independent provider of business intelligence, analysis, and research to the oil, gas, and associated marine industries

2015: Acquisition of PCI Chemicals, a chemicals business that offers integrated data and subscriptions research in the chemicals, fibers, films, and plastics sectors[18]

2016: Acquisition of Greentech Media, an information services provider for the electricity and renewables sector

2017: Acquisition of MAKE providing knowledge of the global onshore and offshore wind power market[19]

2019: Acquisition of Genscape, a global provider of real-time data and intelligence for commodity and energy markets, by Verisk becoming part of Wood Mackenzie to enhance its leading research and consultancy across the natural resources sectors[20]

Leadership

  • Mark Brinin, Co-President
  • Joe Levesque, Co-President

References

  1. ↑ Oakes, Elizabeth H.; Mehrdad Ki (2004). Social Science Resources in the Electronic Age: 004. Oryx. p. 187. ISBN 978-1-57356-477-9. 
  2. ↑ Hogan, William W.; Sturzenegger, Federico (2010). The natural resources trap: private investment without public commitment. MIT Press. p. 448. ISBN 978-0-262-01379-6. 
  3. ↑ 3.0 3.1 Islam, M. Shahidul (2009). Marie-Carine Lall. ed. The Geopolitics of Energy in South Asia. Institute of Southeast Asian Studies. pp. 137–139. ISBN 978-981-230-827-6. 
  4. ↑ "Wood Mackenzie". Institute of Petroleum (Cornell University) 62 (732–743): 234. 2008. 
  5. ↑ Kent, Sarah. "Verisk Analytics to Buy Wood Mackenzie for $2.8 Billion; Acquisition of energy consultancy boosts U.S. company’s international exposure", The Wall Street Journal , 10 March 2015. Accessed 30 July 2015.
  6. ↑ "About us". 25 July 2017. https://www.woodmac.com/about-us/. 
  7. ↑ Bank, World (2007). Angola: oil, broad-based growth, and equity. World Bank. ISBN 978-0-8213-7102-2. 
  8. ↑ Group, Gale; Thom Votteler (2002). International Directory of Company Histories. St James Press. ISBN 978-1-55862-476-4. 
  9. ↑ "Wood Mackenzie, Ltd.". Bloomberg. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=11212024. 
  10. ↑ "Green Technology | Clean Tech & Renewable Energy News". Greentechmedia.com. https://www.greentechmedia.com. Retrieved 2018-06-17. 
  11. ↑ Smith, Roy C. (2000). The Global Bankers. Beard. p. 213. ISBN 978-1-58798-022-0. 
  12. ↑ Rutledge, Ian (2006). Addicted to oil: America's relentless drive for energy security. I.B.Tauris. p. 6. ISBN 978-1-84511-319-3. https://archive.org/details/addictedtooilame0000rutl/page/6. 
  13. ↑ Journal, Edmonton (26 September 2007). "Oilsands projects would take $26B hit if royalties hiked, consultant says". THE EDMONTON JOURNAL. http://www.canada.com/edmontonjournal/news/business/story.html?id=10facdde-7c09-41a7-ba42-3a47a63b1fb7. 
  14. ↑ Our history Wood Mackenzie
  15. ↑ "County Natwest Buys Scots Broking Group". 14 December 1987. https://www.afr.com/politics/county-natwest-buys-scots-broking-group-19871214-k2kjh. 
  16. ↑ "NatWest Sells Equity Unit to Bankers Trust". The New York Times. 3 December 1997. https://www.nytimes.com/1997/12/03/business/natwest-sells-equity-unit-to-bankers-trust.html. 
  17. ↑ Private equity deals: 5 July 2012
  18. ↑ "Verisk Analytics, Inc., Acquires The PCI Group". 20 November 2015. https://www.verisk.com/archived/2015/november/verisk-analytics-inc-acquires-the-pci-group/#:~:text=Acquisition%20of%20PCI%20will%20create,business%20at%20Verisk's%20Wood%20Mackenzie&text=PCI%20will%20become%20part%20of,enhance%20Wood%20Mackenzie's%20chemicals%20capabilities.. 
  19. ↑ "Verisk Analytics Acquires MAKE to Add Deep Wind Expertise to Wood Mackenzie and GTM". 22 May 2017. https://www.greentechmedia.com/articles/read/verisk-analytics-acquires-make-to-add-deep-wind-expertise-to-wood-mackenzie. 
  20. ↑ "Verisk to Acquire Genscape". 26 August 2019. https://www.verisk.com/newsroom/verisk-to-acquire-genscape/. 




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