Multinational Oil and Gas Company Selects Quorum's Accounting Software Solutions for Enterprise Deployment

HOUSTON, Nov. 2, 2017 /PRNewswire/ -- Quorum, the leader in digital transformation for the oil and gas industry, announced today that a leading multinational oil and gas company recently expanded its partnership to leverage Quorum's Revenue Accounting software and Division Order solutions.

The additional Quorum solutions integrate with the oil and gas company's existing Quorum portfolio and will support the business's expanded asset acquisition and management footprint in North America.

"We are proud one of the leading multinational oil and gas institutions has chosen Quorum Software for seamless and standardized accounting, finance and land management," said Perry Turbes, president and CEO, Quorum. "By expanding their use of our software, the customer will enhance the company's business processes in North America to sustain their leadership position in the energy industry. While we have been partners with this oil and gas company for almost a decade, we're always looking for new ways to support the customers we serve." 

About Quorum's Oil & Gas Accounting Software

Quorum's Revenue Accounting software automates operational accounting for produced volumes, product sales and revenue distribution with some offerings including acquisition and disposition management, volume allocation for well completion and contract valuation and processing. Quorum's Division Order solutions provide comprehensive division order management with automatic document generation, streamlined filings and flexible interest administration.

In addition to Revenue Accounting and Division Order, Quorum also supports the oil and gas company's business via the following offerings, all of which are built upon the myQuorum platform, the energy industry's first open standards-based software integration platform that automates workflows and connects people, processes and systems to deliver actionable insights.

• Land Management with integrated features that provide robust functionality for lease acquisition, GIS mapping, lease management and right of way.
• Cost Accounting to manage assets and capital expenditures, monitor and approve project budgets, track and bill partners and view well profitability.
• Plant Accounting to optimize and simplify complex gas plant accounting processes for allocations and settlements, division order and disbursements, contract management, and forecasting.
• Gathering to gain full visibility into operations with the all-in-one software for customer self-service, allocations and settlements, nominations and confirmations plus reporting.

About Quorum

Quorum offers an industry-leading portfolio of finance, operations and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. From the field to the back office, defying complexity is coded in our DNA and our software. This unmatched experience is why Quorum is the choice of eight of the largest public energy companies worldwide, 75 percent of LNG exporters throughout North America and 80 percent of all midstream companies in the United States. Designed for digital transformation, the myQuorum software platform delivers open standards, mobile-first design and cloud technologies to empower innovation at the speed of thought. At Quorum, we're helping visionary leaders transform their business, and the energy industry, for a digital world. For more information, visit www.quorumsoftware.com.

Contact: Genevieve Shoemaker, 713-377-6438, [email protected]

SOURCE Quorum

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