With Purchase Of Entero, Quorum Expands Digitalization To Canadian Applications
With its purchase of Calgary-based Entero Corporation in April, Quorum Software has moved to expand its software offerings and significantly grow its Canadian presence.
The purchase signalled the Texas-based company’s intention to expand its product portfolio to cover the energy value chain, from engineering to accounting and finance in upstream and across the full range of midstream processes through to distribution.
The combination brings together a Canadian leader in reserves and economics and a United States leader in upstream solutions. (Entero says MOSAIC is the leading Canadian economics and reserves solution with 60 per cent market share and Quorum is the leading U.S. upstream solution with 85 per cent of the largest E&P operators among its customers.)
The purchase allows the company “to double down on the recent MOSAIC success in the U.S., as it and the myQuorum Upstream suite are highly complementary,” said Perry Turbes, president and CEO of Quorum.
Quorum’s energy software suite, combined with the functionality of MOSAIC and Entero ONE, now form the industry’s most comprehensive upstream and midstream management software portfolio, with capabilities across both upstream and midstream planning, accounting, finance, operations, transportation and logistics, Turbes said.
It also combines Quorum’s natural gas marketing and operations with Entero’s liquids marketing and operations to create an integrated multi-commodity marketing and multi-modal operational solution for gas, NGLs and crude, Quorum said. Together, Quorum and Entero account for the majority of the top-20 midstream operators in Canada and the U.S.
“By joining forces with Quorum, we have the opportunity to bring together the most comprehensive product portfolio that tracks asset performance from plan to end of life. It’s a powerful combination, and we’re looking forward to bringing these two strong teams together,” added Mike Lake, president of Quorum Entero MOSAIC.
At a recent executive briefing at the Calgary Microsoft Technology Center, the company showcased myQuorum Land Canada, its land management software for managing mineral leases, contracts, surface leases and access, and joint ventures that oil and gas experts intentionally designed for the Canadian energy industry.
The briefing was similar to the company’s Modern Energy Workplace launch last fall at the Microsoft Technology Center in Irving, Texas, in which it introduced myQuorum Design Studio, to further extend Quorum’s persona-based myQuorum platform, with a workbench and software development kit that gives users the freedom to design and deliver tailored, Modern Energy Workplace solutions for the myQuorum platform.
The Modern Energy Workplace is designed to provide a workplace where integration, automation and optimization erase business application silos to provide personalized decision-ready insights in seamless, simple and agile ways, the company said.
Quorum partnered with outside leaders such as Microsoft Corp. that helped it add more collaborative and mobile features to match the digital transformation already underway in other industries.
Design Studio is a suite of web-based tools and software development kits built on the myQuorum platform designed to help administrators and developers extend and personalize myQuorum applications.
The company said Design Studio enables IT and business users to partner and deliver solutions that align myQuorum and user roles to drive competitive advantages and efficiency. It also allows existing personas to be quickly and easily modified or personalized to suit specific business purposes.
Quorum sees digitalization as the best way to accommodate today’s new normal of moderate commodity prices and to drive more efficient processes to conduct business. In a white paper, the company points to the cloud, mobile, the Internet of Things and business intelligence as transformational digital technologies reshaping the industry.
Use of the cloud creates efficiencies in part by eliminating IT resources associated with on-premises software and hardware, as software-as-a-service costs continue to drop in line with economies of scale. IT personnel can be redeployed to innovation initiatives and IT itself can shift from being considered a cost centre to a generator of revenue.
Mobile has been the technology most readily adopted by oil and gas companies as several core operations along the energy value chain rely on accurate and prompt field work. Prices for ruggedized devices continue to drop and consumer devices are more readily accepted into the enterprise.
According to the white paper, the continued maturation of business intelligence solutions “is part of a macro trend away from instinctual decision-making toward data-based decision-making, and for industries such as oil and gas, which have traditionally relied on high levels of institutional knowledge, this has the potential to feel very disruptive.”
Business intelligence applications include predictive maintenance, where unplanned downtime is reduced through analysis of historical data to predict and prevent equipment failures; logistics dashboards that visualize supply-and-demand indicators so operations can adjust flow and routes to ensure contractual obligations are met; and embedded reporting for field operations or land solutions to improve decision-making, it said.
“The energy industry is currently at a moment in time where the nexus of macroeconomic forces coupled with the ‘great crew change’ are providing energy companies with the perfect opportunity to strategically transform through technology,” it concludes.
Meanwhile, Quorum continues to develop its Canadian operations, expanding its portfolio to cover more of the energy value chain. A significant portion of the expansion comes from the addition of new oil and gas solutions for the Canadian market, the company said.
In operation since 2002, Quorum Canada had already become a leading provider of operational accounting software for midstream and pipeline companies in Western Canada. In 2016, it introduced the Canada-specific edition of the U.S. market-leading myQuorum Land Management software.
- Digital / IT