Quorum Software (Quorum), a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, has released 2020.1 of EnergyIQ by Quorum Software (EIQ), a well master data management solution, on Nov. 10.
By working closely with leading E&P companies, Quorum delivers a robust and flexible data platform that accelerates digitalization initiatives and provides a 360-degree view of a well.
EIQ provides a full suite of master data management tools for managing and integrating internal and external data sources—including land, accounting, drilling and completion, and document management solutions—to support various business needs. E&P companies standardizing operations on a Quorum-EIQ combination will shorten time to value by leveraging pre-defined integration capabilities, while also gaining access to a growing assortment of bi-directional automation capabilities.
“In addition to numerous enhancements, this update helps set the foundation for executing Quorum’s larger vision to help Upstream companies reimagine how they operate,” Tyson Greer, executive vice president and chief product officer at Quorum, said. “From data and workflow integrations and automation to advanced visualizations, analytics and mapping capabilities, customers will benefit from our aggressive investment in helping manage the business by relying on a centralized and trusted source of data.”
The update includes dashboard capabilities, UI and map enhancements, and new visualizations through industry-first integrations with Quorum’s upstream suite. The coupling of Quorum’s applications with EIQ will help customers make better drilling, completion, and workover decisions by connecting the well master with Quorum’s transactional, operational and accounting solutions; streamline access to relevant well information, including lease, well files, and other documents stored in DynamicDocs and direct linkage to the WellEz wellbore diagram; and better understand their current assets by pulling in GIS and Land information from Quorum and displaying via EIQ’s native visualizations.
As part of Quorum’s ongoing efforts to help energy companies simplify and automate data management challenges, the company will hold a webcast on Nov. 18, in partnership with Ember Resources, to demonstrate how operators are applying advanced search technology to integrate their suite of well lifecycle applications and deliver a 360-degree view of the well.
Unlike most U.S. producers, Diversified, which this month changed its name from Diversified Gas & Oil, does not drill new wells, but buys mature gas fields and focuses on slowing their decline rates.
The divestiture primarily comprise natural gas-producing properties in the western Delaware Basin of the Permian and also include a small undeveloped acreage position, Callon Petroleum said.
Its latest pilot project includes a deal with electric and gas utility Xcel Energy to buy natural gas for its Colorado customers produced by Crestone Peak Resources and certified as “responsibly sourced” by Project Canary.