• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

P2 Energy Solutions Announces That Highland Oil & Gas LLC. Contracts With Petroleum Financial Outsourcing Solution

Posted on: Wednesday, 5 March 2008, 15:01 CST

P2 Energy Solutions, a leading provider of business software and outsourcing services to the oil and gas industry, announces that Highland Oil & Gas LLC., based in Fort Smith, Arkansas, has implemented its Petroleum Financial (PFI) outsourcing solution to manage its growing land and accounting needs.

PFI is a technology-centric outsourcing service that helps growth-oriented oil and gas companies manage their land and accounting operations without the typical costs and capital expenditures associated with running a back office. Through advanced, proprietary technology, PFI provides customers with Web-based access to reporting, document management and business analysis tools to help them run their businesses more efficiently and effectively.

Highland is an early-stage, private equity-funded oil and gas company that raised a significant amount of growth capital and wanted to make sure it had the back office infrastructure to manage its future growth. Instead of making the typical large investment in accounting and land systems and hiring experienced personnel, Highland made the strategic decision to outsource non-core aspects of accounting and land administration to PFI.

"Our management team knew from the beginning we wanted to run Highland with a staff focused on building the company instead of back office administration," said Mike Oxley, president of Highland Oil & Gas. "After looking at a wide range of outsourcing vendors, we determined PFI brought the right mix of market-leading technology, industry expertise and scale to meet our needs now, as a start up, and into the future."

Jerry Rugg, senior vice president of P2 Energy Solutions, commented, "We are excited to have Highland as a new customer. Our broad range of services and large staff are a perfect fit for a growth-oriented company like Highland and we look forward to a long and successful relationship with their management team."

About P2 Energy Solutions Inc.

P2 Energy Solutions focuses on the development and support of data, software and enterprise services to meet the information and business process needs of the energy industry. P2 Energy Solutions is the oil and gas industry's most comprehensive source of asset management solutions including Entelligent, Enterprise Upstream, Reserve Management, Excalibur, Qbyte, Enterprise Land Tobin GIS Studio™ and Tobin SuperBase™. With solutions deployed at more than 500 companies worldwide, P2 Energy Solutions enables clients to achieve greater productivity while maintaining effective controls.

The company has an 80-year history of serving the oil and gas industry and understands its workflow processes. P2 Energy Solutions has the breadth and depth of expertise to meet the expanding financial, operational and data management needs of energy companies from private independents to supermajors. More information can be found at www.p2es.com.

About Highland Oil & Gas LLC.

Highland Oil & Gas LLC. is a natural gas exploration company with offices located in Ft. Smith, Arkansas, Houston, Texas and Tulsa, Oklahoma. Highland is focused on the acquisition and exploration of conventional natural gas resources in Arkansas, Oklahoma and Texas. Highland seeks to acquire and explore for gas in the Arkoma and Anadarko basin by applying their extensive geologic and operational expertise. Collectively, management has drilled more than 1,000 wells and developed more than 600 Bcfe in the Arkoma and Anadarko basins.

Source: Business Wire

More News in this Category