Warburg Pincus is nearing a sale of portfolio company RS Energy Group to Genstar Capital in a deal that values the energy research group at about $1 billion, including debt, according to people with knowledge of the matter.

Genstar plans to merge the Calgary-based firm with portfolio company Enverus, a rival energy market data and analysis provider, said the people, who asked to not be identified because the matter isn’t public. Genstar could announce a deal for RS Energy as soon as this month, the people said.

No final decision has been made and talks could fall through, they said.

Warburg acquired RS Energy in 2015 from Investment Technology Group Inc. for about $120 million, according to data compiled by Bloomberg. The company has made at least two acquisitions since then.

Austin, Texas-based Enverus, originally known as Drilling Info, was purchased by Genstar from Insight Venture Partners in 2018.

Enverus Acquisition History

• County Scans – Acquired in 2012

• Transform Software and Services – Acquired in 2013

• GlobalView Software – Acquired in 2016

• DataGenic – Acquired in 2017

• Oil-Law Records Corp – Acquired in 2017

• Pattern Recognition Technologies – Acquired in 2017

• 1Derrick – Acquired in 2018

• Oildex – Acquired in 2018

• Cortex Business Solutions – Acquired in 2018

• MinersalSoft – Acquired in 2019

• RigData – Acquired in 2019

Who do you think Enverus will acquire next? Let us know below.