HKN Energy Goes Live with W Energy Software’s Upstream Accounting Solution

W Energy Software, the emerging leader in upstream and midstream oil & gas ERP solutions, announces that it has completed the deployment of its upstream accounting suite at HKN Energy.  Working closely with staff at HKN Energy, W Energy Software’s implementation team successfully went live with its upstream ERP suite, which included migration from an existing legacy ERP solution, configuration, testing, and closing of the producer’s first month of financials.

“The HKN Energy team selected W Energy Software because it is well designed, well priced, and built for the modern era with the cloud-based technology we were looking for,” said Cale Welborn, HKN Energy’s controller.  He added, “we are very excited to have completed the implementation of our new accounting platform and early results indicate that W Energy Software’s solution is very user friendly and I’m confident it will deliver on the promise of improved business efficiencies.”

Fort Worth-based HKN Energy has operated the Sarsang Block in northern Kurdistan since 2007.  The producer previously relied on an oil & gas accounting package that was discontinued, putting HKN Energy in the position of using a new but unproven software solution from the same software vendor.  After evaluating other oil & gas accounting solutions that could meet its unique needs, HKN Energy selected W Energy Software’s cloud-based upstream ERP solution to replace its legacy software.  By switching to W Energy Software, the producer is now running its core accounting functions on the industry’s only unified ERP platform built on the cloud, providing superior functionality, user experience, and cost efficiency.

The go live process at HKN Energy included:

• On time and on budget delivery of all software components, configurations, and testing on W Energy Software’s cloud-based ERP platform, which provides, HKN Energy with cost-effective software-as-a-service (SaaS) subscription pricing.
• Implementation of W Energy Software’s Revenue Accounting, Division Order, AFE, JIB, and Financial Accounting modules, configured for use with metric system measurements.
• Dedicated W Energy Software implementation experts who ensured successful migration of accounting data from its legacy ERP solution and closing of the company’s first month. 

“Congratulations to HKN Energy on their successful deployment of W Energy Software’s upstream ERP solution and a big thank you for your vote of confidence in our technology and team,” said Pete Waldroop, CEO of W Energy Software.  “While W Energy Software primarily supports onshore US producers, this implementation clearly shows off just how flexible our software products are in easily adapting to the unique needs of international production,” Waldroop commented.  He added, “the entire W Energy Software team stands ready to support HKN Energy with our best-in-class software products and customer service, now and into the future.”