W Energy Software, the new leader in upstream and midstream oil & gas ERP solutions, announces that Killam Oil Company has signed software licenses for its upstream accounting, land management, and regulatory reporting software. The announcement follows a head-to-head evaluation of the producer’s existing ERP solutions in which W Energy Software was selected to replace multiple legacy software products and vendors. Top reasons for selecting W Energy Software include its unified upstream ERP platform built on the cloud, intuitive user experience for accounting and land workflows, fast and reliable production allocations, and all-inclusive upgrades.
“We are looking forward to working with W Energy Software and having a partner committed to our success…We were looking for the right technology and partner to sustain our strong growth profile and W Energy Software checked all the boxes with its best-in-class, modern software solutions for managing our unique accounting and land management complexities,”
-Rolando Villarreal, Director of Information Technology, Killam Oil Company
Headquartered in Laredo, Texas, Killam Oil Company is a privately held energy company with operations in South Texas and non-operated working interests across the country. The company had relied on multiple legacy ERP systems for nearly 20 years to manage core business functions, including financial accounting, production accounting, land management, and revenue disbursement. Its accounting software vendor planned to discontinue support for legacy products, putting the producer in the position of investing significant time and resources to switch to a newer version that offered few improvements. Legacy technology also failed to keep pace with Killam Oil Company’s business needs with production allocations often requiring extensive time to run and requiring processes to be restarted multiple times. Additionally, faced with complex state regulatory requirements, the producer wanted to simplify the preparation of tax and related reporting.
Seeking to modernize its accounting, land management, and regulatory reporting workflows with best-in-class technology, Killam Oil Company evaluated the capabilities of its current software vendors then selected W Energy Software’s full Upstream ERP software suite, which will provide it with a unified suite of business applications built on the cloud. This includes modules for Revenue Accounting, Accounts Receivable, Accounts Payable, Joint Interest Billing, Fixed Assets, Purchasing, Authorization for Expenditure, Production Accounting, and Financial Accounting. The W Energy Software solution also provides the producer with modern Land and Division Order management tools as well as a State Tax module to streamline regulatory reporting.
Reasons for selecting W Energy Software over the competition include:
- Best-in-class 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 Killam Oil Company 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, Killam Oil Company will drive business performance even higher, accelerate complex accounting settlements, streamline land management workflows, and prepare specialized state reporting with a click.”
-Pete Waldroop, CEO, W Energy Software
To accelerate the implementation of Killam Oil Company’s new land management solution, W Energy Software is leveraging ThoughtTrace, the leader in oil & gas data extraction and a W Energy Software Technology Partner, to digitize and automatically load large volumes of leases.