W Energy Software Acquires Seven Lakes Technologies, Empowering Operators to Streamline Field Processes With AI-Powered Technology
By W Energy
UPDATED: May 17, 2022
| 3 min read
Leader in energy SaaS ERP accelerates and expands its production operations capabilities with the acquisition of Seven Lakes’ best-in-class Field Data Gathering app and Pump by Exception technology.
Tulsa, Oklahoma & Los Angeles, California – May 17, 2022- W Energy Software, a leading provider of cloud-based accounting and ERP software to enterprise and mid-market customers across the energy and commodities value chain, today announced the acquisition of Seven Lakes Technologies (Seven Lakes) in a move that brings next-generation intelligence to field operations and the energy back office. Seven Lakes’ JOYN SaaS platform and cutting-edge mobile app empower energy producers to bridge the last mile of field connectivity and generate more revenue at higher margins. The acquisition accelerates W Energy Software’s production management capabilities with category-leading field data gathering and pump-by-exception solutions that leverage artificial intelligence (AI) to optimize well routes, leading to increased production and lower well downtime. The operational efficiencies created by JOYN for customers also further position W Energy Software to be a key software vendor in supporting the larger energy transition.
“Building on our momentum and market growth in upstream, the acquisition of Seven Lakes accelerates our capabilities in field operations and production management with AI and intelligent workflows that create the most advanced and comprehensive SaaS energy ERP on the market spanning field data gathering, production optimization, financials, division order, and revenue disbursement.” Mark Hill, Former CEO, W Energy Software
“This is a natural expansion of W Energy Software’s capabilities in this space that opens up exciting new opportunities for our clients to further optimize operations, empowering energy producers to capture more profit through streamlined production processes. The platform generates demonstrable and measurable returns to energy producers on the investment in the software,” said Mark Hill.
With its acquisition of Seven Lakes and JOYN, W Energy Software takes a market leadership position by creating the only comprehensive solution built for the cloud that seamlessly links back-office workflows and ERP directly with AI-optimized field operations.
“It’s truly momentous as we bring together our category-leading pump by exception technology with W Energy Software’s best-in-class SaaS ERP for the first-ever enterprise-scale, comprehensive ‘field to balance sheet’ solution. Our shared commitment to relentless innovation and customer success will allow clients to leverage the next generation of digital oilfield intelligence so that they can do more with less.” Shiva Rajagopalan, CEO and Founder, Seven Lakes Technologies
Seven Lakes has generated significant interest in its products since the beginning of the JOYN journey and currently has numerous notable supermajors and large independents in the upstream space as customers today. Its customers realize measurable business value and returns on their JOYN deployments, and producers estimate the time and cost savings attributed to JOYN to be in the tens of millions of dollars per year. In addition, the streamlined efficiencies, such as more operational uptime, enhanced visibility into capital expenditure requirements, and less miles driven in the field, further align customers with good stewardship of these natural resources.
Through its acquisition of Seven Lakes, W Energy Software is doubling down on innovation and client services by expanding operations to the company’s impressive product development team, engineering support staff, and client success center, extending W Energy Software’s ability to innovate, implement, and provide clients with around the clock support.
About W Energy
W Energy Software, headquartered in Tulsa, Oklahoma, revolutionizes the oil and gas industry with its leading cloud-based energy platform. Made for upstream and midstream companies, our platform combines advanced software with deep industry knowledge, offering solutions spanning Field Service Management, Production, Accounting, Land, and Transportation. Countless energy professionals turn to W Energy to help their businesses adapt and grow. As the energy industry evolves, so does W Energy, continuously refining our platform to empower today’s needs and tomorrow’s advancements. Visit us at www.wenergysoftware.com to see how we’re shaping the future of energy operations.
About Seven Lakes Technologies
Headquartered in Westlake Village, California, Seven Lakes is a market leader in cloud-native field operations solutions for the upstream oil & gas sector focused on production, CAPEX and OPEX improvements, data management, and analytics. The company pioneered the first cloud-based integrated production system with JOYN, a reporting and mobile platform for optimizing well routes while accelerating field data gathering and production allocations. With more than 6,000 users and 50 clients, including supermajors and major producers, Seven Lakes’ solutions are relied on daily for full well lifecycle management.