EnergyCONNECT is designed to keep energy companies in compliance, optimize operations, and increase profit margins.
- Managing complex business transactions ensuring compliance, collaboration and accuracy with multiple business contacts across vendors, stakeholders and employees.
- Eliminating paper-based and offline applications to manage mission critical operations such as requisitions, procurement, AFE supplements.
- Asset-intensive energy companies require increased management, tracking, accounting and visibility of their assets, equipment and resources to reduce costly downtime.
- Being locked into aging systems that require continual maintenance of customizations, integrations and don’t have the modern, mobile functionality needed.
EnergyCONNECT Solution Areas
Joint Venture Accounting
Exploration and Production companies have many complexities to manage around a high-risk business environment, high investment costs, difficulty in correlating the scope of expenditures and the value of assets and reserves and managing the long life cycle of cost-to-benefit and return on investments. Managing the complexity of multiple working interests requires technology to better manage the Joint Interest Billing functions in order to manage the various stages of operations. EnergyCONNECT handles all aspects of JIB, DOI, AFE and improved automation to core applications such as Enterprise Asset Management, Procurement and land systems.
Oilfield Rental Management
Maximize revenue opportunities and minimize unnecessary expenses by optimizing your equipment rentals. EnergyCONNECT helps you apply income and expenses to fixed assets so you can get a full picture of the equipment rental value. Schedule asset movements and see the location of your rental assets by location, usage and availability. Manage daily, weekly or hourly rates as well as by utilization rates. EnergyCONNECT also integrates seamlessly with the Project Accounting Module.