Blackstone has agreed to acquire Enverus, an energy data and analytics provider, in a deal that could value the company at more than $6bn, according to sources cited by Bloomberg.

The transaction, which may be announced as early as Wednesday, follows a competitive process in which Blackstone outbid several rival suitors. The final purchase price could reach up to $6.5bn, subject to certain earnout provisions.

Austin-based Enverus is currently backed by Hellman & Friedman, which acquired the business from Genstar Capital in 2021 at a valuation of $4.25bn including debt.

Founded to serve the oil and gas industry, Enverus now aggregates data from over 95% of US energy producers and more than 40,000 suppliers. Its software is used by approximately 8,000 customers across 50 countries.

Blackstone’s latest move expands its growing portfolio of energy and infrastructure assets. In May, Blackstone Infrastructure also struck a $5.7bn deal to acquire New Mexico utility TXNM Energy.

Hellman & Friedman and Blackstone declined to comment on the deal. Bloomberg previously reported that Intercontinental Exchange, parent company of the New York Stock Exchange, had also considered a bid for Enverus.

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