W Energy Software, the emerging leader in upstream and midstream oil & gas ERP solutions, announces that a leading San Juan Basin producer has selected its upstream accounting and land management software. The producer, who has a long history of operating in New Mexico, has unique mineral ownership and state reporting complexities that its legacy ERP solution was failing to solve. The producer turned to W Energy Software for its unified, cloud-based ERP technology and industry-wide reputation for partnering with customers to ensure business results. Among the key features that led to its decision to select W Energy Software are the out-of-the-box capability to rapidly and accurately generate the data needed for state regulatory filings, elimination of data silos, and intuitive user interface.
The oil & gas operator is a private oil & gas producer with principle operations in New Mexico’s San Juan Basin. Because the company has managed acreage in the region for several decades, division of interest among a large number of mineral owners is complex, creating multiple challenges for accounting and revenue disbursement. The company used third-party commercial software to manage production and financial accounting as well as lease information, however the solution was cumbersome to use and required costly on-premises server hardware, infrastructure and administration. To fill gaps in what its legacy ERP solution could do, the producer had to perform some calculations in spreadsheets, adding further time, resources, and complexity. The operator also experienced regulatory reporting data integrity issues with its legacy ERP solution, requiring extensive time and cost to customize reports to the unique complexities of New Mexico’s oil & gas regulatory agency.
Seeking to modernize its accounting and land management with newer, cloud-based technologies, the San Juan Basin producer evaluated a number of other third-party ERP software providers. The company quickly identified W Energy Software as the only ERP software provider that meets and exceeds its requirements. Reasons for selecting W Energy Software over the competition include:
- Transparency into revenue calculations and a clear audit trail leveraging Calculation Trace (a unique feature of the W Energy Software ERP platform) vs. the black box approach of other solutions that create financial uncertainty.
- The ability to rapidly prepare state-specific regulatory reporting without having to manually manipulate data or spend time and money on custom reporting.
- Superior functionality and user experience, including W Energy Software’s grid view that enables easy sorting and filtering of complex accounting datasets in one consolidated view.
- Unified ERP platform built on the cloud that eliminates data silos, accelerates processing times and reduces IT total cost of ownership.
“A big thank you to our latest upstream customer for their vote of confidence in W Energy Software, which is dedicated not only to deploying the latest upstream ERP technology but supporting our customers with a personal touch from implementation through ongoing operations,” said Pete Waldroop, CEO of W Energy Software. “One of the recurring themes in our rapid adoption among both upstream and midstream companies is unmatched user experience and ease of use and that is directly attributable to our single platform approach, adherence to modern software development best practices, and our continuous product enhancement process,” he said.