Thursday , 26 April 2018

Mexico and USA invest together in Software

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Carlos Slim, Mexican business magnate, investor, and philanthropist, and former U.S. Vice President Dick Cheney have invested in Texas-based oil and gas software developer WellAware, the company said in a statement on Wednesday.

WellAware’s software allows oil and gas companies to track wells and pipelines remotely and collates data for making forecasts.

Cheney, who is already a WellAware board member, and Slim, who led the $37 million funding round along with Activant Capital Group, have invested in the company alongside Ed Whitacre, the former AT&T and General Motors chief who is also a board member.

Slim spokesman Arturo Elias Ayub confirmed that Slim had invested in the company but declined to say how much.

Slim has been ramping up his oil-related business as Mexico opens up its oil and gas industry, ending a 75-year monopoly held by state oil company Pemex.

Dick Cheney could not be immediately reached for comment.

by Redacción Gas Shale México

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