Quorum Software said Aug. 14 that Titan Rock Exploration & Production LLC, a private equity-backed upstream company based in Dallas, selected Quorum’s upstream oil and gas solutions to support its assets.
To accommodate current operations and position the company for future growth, Titan Rock chose Quorum’s cloud-based production allocations and reporting, SCADA monitoring and land management solutions, which scale with the needs of startup operators.
“After extensively researching and trialing other software providers, we found that Quorum provides the right mix of functionality and industry expertise,” Robert Martinez, CEO, Titan Rock, said. “The software is packaged and priced to help us control overhead costs while providing exceptional vision into our day-to-day operations.”
Quorum’s upstream on-demand oil and gas software is available in a SaaS delivery model, designed for growth-focused exploration and production (E&P) companies in need of cost-effective solutions that are simple to implement, easy to use and do not require extensive IT or capital resources. With a focus on organic and inorganic growth, Titan Rock needed quality production data to support field operations, financial reporting and optimize cash flow.
“There is a tremendous opportunity for small and midsized E&P companies to use software as a tool for growth. Our SaaS offerings allow them to stay nimble, operate lean and make faster operational adjustments to stay ahead of the competition,” Soroosh Seyhoon, vice president of sales, Quorum Software, said.
The move by Baker Hughes comes as oil and gas companies keep their focus on shareholder returns over spending to expand production, even as crude prices climb to their highest levels since 2018.
The acquired project, located south of Dallas, adds solar generation capacity to Buckeye’s existing renewable energy portfolio and positions the company to “meaningfully participate in the energy transition,” Buckeye Partners says.
Oil and Gas Investor’s “Forty Under 40” recognition program honors champions of the next generation of oil and gas professionals.