This uncertainty hits the smaller producers the most
(PRWEB) September 25, 2007
Pandell Technology Corporation, a leading vendor of back-office software solutions for junior oil and gas companies, announced today that its economic analysis software, EANexus™, has already been updated to reflect the potential government royalty increases suggested by the Alberta Royalty Review Panel (ARRP) last week.
The results of a review of the industry's royalty structure were made available last week in the 'Our Fair Share' report. The report called for a $2 Billion increase in the government's share of energy developments on provincial land, in the form of significantly higher oilsands royalties and a higher take on oil and natural gas wells. Pandell immediately implemented the new royalty increases into EANexus software, to help junior oil and gas companies better assess the impact of this major industry change.
"This uncertainty hits the smaller producers the most," says Greg Chudiak, Pandell's President and CEO. "When the playing field is changing substantially - like it is right now - executives need to quickly understand how the new rules affect their current and future projects. Our updated software ensures that the junior oil and gas companies have the tools they need to assess whether their properties are still economically and commercially viable."
The new version of EANexus that incorporates the new royalty formulas is available to both current and new customers.
Pandell's EANexus is an all-in-one economics program that provides fast, accurate and easy economic analysis, reserves management and budgeting. Harnessing multiple data sources and using an intuitive workflow that guides users of all levels through the process, EANexus allows engineers to do complex economic evaluations in half the time of traditional approaches, without sacrificing the ability to handle the most complex royalty calculations. Priced for smaller organizations, EANexus is available through an affordable monthly subscription with no up front fees.
Pandell has been delivering quality software and services since 1997. Pandell's NexusSuite™ provides a complete back-office solution for junior and mid-sized oil and gas companies. With solutions for joint venture accounting, AFE tracking, economic analysis and land management, the NexusSuite is the most practical and cost-effective back-office solutions for growing companies. Pandell's Software by Design division builds and supports custom applications for enterprise organizations. Powered by a proprietary Pandell Liquid Intelligence (PLI) technology and leveraging a Software-as-a-Service (SaaS) model, Pandell delivers modern and affordable software solutions to clients across North America. To learn more about Pandell, NexusSuite or the PLI advantage, visit http://www.pandell.com.
For more information contact:
Marketing Communications Coordinator
Pandell Technology Corporation