W Energy Software Launches Next Generation Oil & Gas Measurement Solution Backed by Industry Led Product Consortium

TULSA, Okla., Aug. 4, 2020 /PRNewswire-PRWeb/ -- W Energy Software, the new leader in upstream and midstream oil & gas ERP solutions, announces the launch of its oil & gas measurement product line to track liquids and natural gas measurement data across the energy value chain. The new measurement solution will provide upstream and midstream companies with essential data management capabilities to monitor gas and liquid measurement data from the wellhead through production, storage, transportation, processing, and points of sale. Additionally, W Energy Software's measurement solution will enable companies to warehouse field data in the cloud, validate measurement data, track product quality, and balance gas and liquid volumes. The measurement solution will enable existing clients to seamlessly integrate measurement data with their W Energy Software solutions and drive new operational and cost efficiencies. W Energy Software has also created a Measurement Product Consortium that has already attracted the interest of multiple large upstream and midstream companies who will align product development with industry requirements. Interested energy companies are invited to join the Measurement Product Consortium to provide direct input and receive product discounts.

"Accurately tracking hydrocarbon volumes is the heart of an oil & gas business and those who focus on measurement and supporting related workflows with robust technology and hardened processes will improve production and cash flow," said Pete Waldroop, CEO of W Energy Software. "Until now, there has only been one game in town for measurement solutions, which is why I'm excited to announce the launch of WE Measure, a new all-inclusive measurement software product from the W Energy Software team that seamlessly fits into our unified upstream and midstream ERP software platform built on the cloud," Waldroop stated. He continued, "not only does our new measurement product offer the market choice, it provides superior cloud-based functionality for securely recording, validating, balancing, and reporting hydrocarbon volumes unencumbered by legacy technology while also providing energy companies with a technology partnership that is laser focused on their business success."

Approximately 90% of US oilfields are outfitted with meters and other equipment designed to measure liquids and natural gas produced at the wellhead, stored in tanks, used for custody and fiscal transfer, transported along pipelines, and used for leak detection. These products include crude oil, natural gas, natural gas liquids (NGLs), produced water, and refined products. The W Energy Software measurement solution, WE Measure, will provide upstream and midstream companies with a secure data warehouse for centrally managing volume, energy, and product quality measurement data in the cloud, integrating large numbers of SCADA data sources, and streamlining meter data analysis. The solution will also provide processes and functionality to validate measurement data, provide volume balances, deliver clear audit trails, and ensure compliance with energy industry, regulatory, and accounting standards.

With the introduction of WE Measure, W Energy Software is delivering another critical component on its product roadmap for one, fully integrated ERP solution to support the accounting and logistical needs of upstream and midstream energy companies. For existing clients, WE Measure will provide an alternative measurement solution that is seamlessly integrated with their W Energy Software products, providing new opportunities to streamline workflows, accelerate business performance, and reduce costs. The company plans to create a new executive position to helm the measurement product line.

The industry-leading ERP software provider is also announcing the creation of a Measurement Product Consortium and invites interested upstream or midstream companies to join by contacting W Energy Software today. Participating energy companies will provide direct input into product development while benefiting from reduced license and implementation pricing.

"Measurement is akin to a distributed cash register that records transactions along the energy value chain and prior to the launch of WE Measure the oil & gas industry only had one option for the cashier," Waldroop said. He stated, "our newly formed Measurement Product Consortium will play a vital role in ensuring that W Energy Software delivers on the promise of giving the industry an alternative solution that matches the complex measurement needs of today and tomorrow."

W Energy Software's measurement product line is currently under development and is expected to be commercially available by the end of 2021.

This news follows on the heels of W Energy Software's recent announcement that it is experiencing accelerated growth in multiple markets where measurement plays a crucial role, including natural gas plant accounting, liquids transportation, and upstream ERP.

About W Energy Software
Headquartered in Tulsa, Oklahoma, W Energy Software offers the oil & gas industry's only unified ERP solution built for the cloud that is relied on by more than 100 upstream and midstream companies to accelerate business performance, improve operational efficiency, and drive costs down. W Energy Software combines precision-built software in one extendable cloud-based workspace with an intimate understanding of the oil & gas business to deliver solutions that offer flexibility, affordability, and continuous upgrades. Unlike other ERP software that loosely ties together a mix of legacy solutions and fragmented technologies, W Energy Software designed a unified upstream and midstream ERP platform to seamlessly track oil, gas, and NGLs from the wellhead through transportation and marketing, eliminating data silos as well as the burden and costs of maintaining multiple systems. With W Energy Software, oil & gas companies stay lean and agile with the tools they need to adapt to market changes and meet evolving client needs head on, all while gaining the confidence that their business is running on the latest technology. For more information, please visit https://WEnergySoftware.com.

SOURCE W Energy Software

Related Links

https://WEnergySoftware.com