Peloton, a provider of data management software solutions for the energy industry has announced that it has achieved System and Organization Controls (SOC 1 and SOC 2) Type 2 compliance, a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA).
“The journey to achieve SOC 1 and SOC 2 compliance is just one more way to show that we take strict measures to protect our customers’ data,” Glen Gray, CEO of Peloton, said in a statement. “In this age of constant data dispersal, businesses need to have assurance that their data is safeguarded. This is why we have made it a priority to continue to invest in our security controls.”
SOC 1 and SOC 2 reports provide valuable information that customers need to assess and address the risks associated with an outsourced service. SOC 1 audited Peloton’s controls relevant to a customer’s financial reporting. The audit included Peloton’s Well Data Lifecycle, Production Data Lifecycle and Land Data Management solutions.
SOC 2 audited Peloton’s Platform controls relevant to the Trust Services Criteria: security and availability.
“For over 30 years, we have been committed to the safety and security of our Peloton Platform. This was just further validated when auditors confirmed our dedication to the continuous implementation and monitoring of appropriate technologies and procedures to protect security and availability of the service and customer data,” Gray added
Peloton's SaaS-based Platform provides energy operators the ability to view vital operational data across three solution areas in one platform. Developed in partnership with Microsoft Azure's technology, this customizable platform delivers a seamless user experience to help organizations achieve maximum value from Well Data Lifecycle, Production Data Lifecycle and Land Data Management. Each Peloton product has commercial integration with each of our other products, which greatly simplifies implementation costs and complexity.
2023-02-02 - Elk Range Royalties acquired approximately 2,300 net royalty acres in the Permian Basin from Tower Rock Oil and Gas.
2022-12-13 - "This decision is in line with our work to continue focusing our portfolio," Shell upstream director Zoe Yujnovich said of the transactions.
2022-12-05 - Bison Water Midstream, which bills itself as the largest water infrastructure and logistics company in Oklahoma, added recycling and storage facilities in the pair of STACK deals.
2022-12-06 - Monarch's production capacity is expected to expand to nearly 4 million tons per year by first-quarter 2023, ProFrac said.