Interior's BOEM awards $86,275 for Operating Fee Data Subscription to S&P Global Market Intelligence LLC

Contract Overview

Contract Amount: $86,275 ($86.3K)

Contractor: S&P Global Market Intelligence LLC

Awarding Agency: Department of the Interior

Start Date: 2024-07-22

End Date: 2026-07-21

Contract Duration: 729 days

Daily Burn Rate: $118/day

Competition Type: COMPETED UNDER SAP

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: OPERATING FEE DATA SUBSCRIPTION

Place of Performance

Location: NEW YORK, NEW YORK County, NEW YORK, 10041

State: New York Government Spending

Plain-Language Summary

Department of the Interior obligated $86,275 to S&P GLOBAL MARKET INTELLIGENCE LLC for work described as: OPERATING FEE DATA SUBSCRIPTION Key points: 1. The contract is for a data subscription service, crucial for market analysis and regulatory oversight. 2. S&P Global Market Intelligence is a major player in financial data, indicating a competitive market. 3. The primary risk involves data accuracy and the continued relevance of the subscription. 4. This falls under the Software Publishers sector, with significant government reliance on data services.

Value Assessment

Rating: fair

The $86,275 award for a two-year data subscription appears reasonable given the specialized nature of market intelligence. Benchmarking against similar data services would provide a clearer picture of value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: limited

The contract was competed under SAP (Simplified Acquisition Procedures), suggesting a limited competition environment. This method may not always yield the lowest price compared to full and open competition.

Taxpayer Impact: Taxpayer funds are used for essential data services, with the cost-effectiveness dependent on the value derived from the subscription.

Public Impact

Ensures access to critical market data for regulatory decisions. Supports informed policy-making in the energy sector. Provides insights into industry trends and financial performance.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Limited competition under SAP.
Potential for data obsolescence over subscription period.

Positive Signals

Access to specialized market intelligence.
Firm fixed-price contract limits cost overruns.

Sector Analysis

The Software Publishers sector is vital for government operations, providing data and analytical tools. Spending benchmarks vary widely based on the specific data and vendor.

Small Business Impact

This contract does not appear to involve small business participation, as it was awarded to a large, established data provider.

Oversight & Accountability

Oversight is managed by the Bureau of Ocean Energy Management (BOEM) within the Department of the Interior. Accountability rests on the effective utilization of the data for its intended purposes.

Related Government Programs

Software Publishers
Department of the Interior Contracting
Bureau of Ocean Energy Management Programs

Risk Flags

Limited competition.
Reliance on third-party data.
Potential for data relevance issues over time.

Frequently Asked Questions

What is this federal contract paying for?

Department of the Interior awarded $86,275 to S&P GLOBAL MARKET INTELLIGENCE LLC. OPERATING FEE DATA SUBSCRIPTION

Who is the contractor on this award?

The obligated recipient is S&P GLOBAL MARKET INTELLIGENCE LLC.

Which agency awarded this contract?

Awarding agency: Department of the Interior (Bureau of Ocean Energy Management).

What is the total obligated amount?

The obligated amount is $86,275.

What is the period of performance?

Start: 2024-07-22. End: 2026-07-21.

What is the specific value proposition of S&P Global Market Intelligence data for BOEM's operations?

The data subscription likely provides BOEM with critical insights into market dynamics, financial health of operators, and regulatory compliance data relevant to offshore energy development. This supports informed decision-making, risk assessment, and policy formulation, ultimately contributing to effective resource management and revenue collection.

What are the key risks associated with relying on a single vendor for specialized market data?

The primary risks include vendor lock-in, potential price increases upon renewal, and the possibility of data inaccuracies or biases. If the vendor's data becomes outdated or less relevant, BOEM might face challenges in maintaining accurate analyses, potentially impacting regulatory effectiveness and strategic planning.

How does this data subscription contribute to the overall effectiveness of BOEM's mission?

The subscription enhances BOEM's effectiveness by providing timely and comprehensive market intelligence necessary for overseeing offshore energy activities. This data supports regulatory compliance, environmental monitoring, and the efficient management of resources, ensuring that BOEM can make informed decisions that align with national energy policies and environmental stewardship goals.

Industry Classification

NAICS: Information › Software Publishers › Software Publishers

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - APLLICATIONS

Competition & Pricing

Extent Competed: COMPETED UNDER SAP

Solicitation Procedures: SIMPLIFIED ACQUISITION

Solicitation ID: 140M0124Q0040

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 55 WATER ST FL 40, NEW YORK, NY, 10041

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $225,635

Exercised Options: $86,275

Current Obligation: $86,275

Actual Outlays: $86,275

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Timeline