W Energy Software, the emerging leader in upstream and midstream oil & gas ERP solutions, announces that a large Denver-based operator has signed software licenses for its upstream accounting, land management, and regulatory reporting software. The decision to select W Energy Software follows a head-to-head evaluation of multiple oil & gas ERP software vendors to replace the producer’s legacy system. Top reasons for selecting W Energy Software include its all-inclusive upstream ERP solution that combines accounting, land, and tax workflows as well as W Energy Software’s reputation for customer service. The announcement comes on the heels of multiple customer wins as oil & gas producers increasingly move off of legacy ERP solutions to W Energy Software’s unified upstream solution built on the cloud.
Headquartered in Denver, the producer holds extensive acreage in Wyoming’s Powder River Basin. It had relied on a legacy ERP system for more than 20 years to manage core business functions, including accounting and revenue disbursement. The legacy solution’s lack of support for land management workflows required staff to perform routine lease analysis in spreadsheets. And due to its areas of operation and government reporting complexity, staff needed to efficiently prepare a wide variety of state and federal regulatory reports.
Seeking to modernize its accounting, land management, and regulatory reporting workflows with best-in-class technology, the operator evaluated multiple widely-used oil & gas ERP solution providers. W Energy Software’s full Upstream ERP solution was selected, which will provide it with a unified suite of business applications built on the cloud and includes modules for Revenue Accounting, Accounts Receivable, Accounts Payable, Joint Interest Billing, Fixed Assets, Purchasing, Contract Management, Production Accounting, and Financial Accounting. The W Energy Software solution also provides the producer with modern Land and Division Order management solutions as well as a State Tax module to streamline regulatory reporting, and an ONRR tax module for reporting on federal and tribal lands.
Reasons for selecting W Energy Software over the competition include:
- Best-in-class upstream ERP technology and user experience across a unified database and integrated software suite spanning accounting, land, and tax/regulatory.
- W Energy Software’s reputation for customer service and partnering with customers to ensure business results.
- Fast and reliable processing of settlements and allocations eliminates manual workarounds, enables processes to be run in minutes, and builds confidence in the results.
- The industry’s most comprehensive single platform, modern technology deployed in the cloud enables teams to reduce IT costs.
“We are honored to have been selected by our latest upstream customer as the ERP solution that will empower their entire business with modern accounting and land management technology. By entrusting their business data and financial results to our leading ERP technology, they will drive business performance even higher, accelerate complex accounting settlements, and prepare specialized state and federal reporting with a click. The rush to W Energy Software’s upstream ERP platform continues as producers seek greater performance and cost efficiencies which legacy software has failed to deliver.”
– Pete Waldroop, CEO of W Energy Software.
About W Energy Software
Headquartered in Tulsa, Oklahoma, W Energy Software (formerly Waterfield Energy) offers the oil & gas industry’s only unified ERP solution built for the cloud that is relied on by more than 100 upstream and midstream companies to accelerate business performance, improve operational efficiency, and drive costs down. W Energy Software combines precision-built software in one extendable cloud-based workspace with an intimate understanding of the oil & gas business to deliver solutions that offer flexibility, affordability, and continuous upgrades. Unlike other ERP software that loosely ties together a mix of legacy solutions and fragmented technologies, W Energy Software designed a unified upstream and midstream ERP platform to seamlessly track oil, gas, and NGL from the wellhead through transportation and marketing, eliminating data silos as well as the burden and costs of maintaining multiple systems. With W Energy Software, oil & gas companies stay lean and agile with the tools they need to adapt to market changes and meet evolving customer needs head-on, all while gaining the confidence that their business is running on the latest technology. To learn why operators choose W Energy Software as their top choice to replace legacy solutions, please visit www.wenergysoftware.com/upstream/