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

P2 Energy Solutions Announces That Maritech Resources Inc. Chooses To Implement Enterprise Land(TM) 2.5

Posted on: Tuesday, 8 April 2008, 15:00 CDT

P2 Energy Solutions, the leading provider of business software to the oil and gas industry, announces that Maritech Resources, Inc., based in The Woodlands, Texas, has chosen to implement Enterprise Land™ 2.5.

Enterprise Land is the upstream industry's first application built for the enterprise completely using a services oriented architecture (SOA). The modules are component-based and loosely coupled. Therefore, customers gain tremendous flexibility in how functionality is configured, deployed, accessed and integrated with other applications. Additionally, users are able to call up pieces of functionality as a Web service. The solution offers user-level customization capabilities related to forms, fields, processes and validations as well as integrated workflow and alert capabilities; all while maintaining detailed audit trails. Enterprise Land enables companies to radically re-think how they capture, manage and distribute land asset information throughout their organization.

Maritech is a subsidiary of TETRA Technologies, Inc. that has experienced substantial growth in recent years. As such, they were at the nascent stage of core IT system implementation, in particular land management. Jay Brown, Enterprise Applications and Data Manager, Maritech Resources, Inc. states, "At Maritech, we were accessing disparate applications to manage our integrated and complex business processes. We needed a land management system architected in such a way that it could integrate with both legacy and future systems. In selecting Enterprise Land our goals are to fully integrate and automate the processes that involve the timely payment of delay rentals, royalty payments and shut-in payments for oil and gas leases; manage future data conversions related to acquisition growth; track contractual obligations associated with joint operating agreements and farm-out agreements; and automate auditing, reporting and SOX compliance."

Mr. Brown continues, "With many unknown factors affecting long term oil and gas business strategies, we recognized that SOA offered the best chance of harnessing the level of functionality and flexibility required to meet potential challenges and opportunities. This realization also fits with Maritech's ethos of selecting IT solutions based on long-term strategic goals."

Mark Eikermann, senior vice president of development, P2 Energy Solutions, comments, "Maritech benefits significantly from the Enterprise Land implementation because the software is designed specifically to provide greater visibility, clarity and accuracy to the management of oil and gas land assets. Utilizing the full suite of modules, Maritech will gain advantage through an improved strategic decision process and by managing land-related processes in a more integrated and efficient manner."

Tarig Anani, president, P2 Energy Solutions, states, "We are very excited to be partnering with Maritech in the delivery of P2 Energy Solution's first Enterprise Land go-live project. Maritech is a growing, vibrant and extremely agile company that will fully exploit the flexibility and scalability of Enterprise Land. P2 Energy looks forward to supporting Maritech in their future growth and development plans."

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™, Excalibur, Reserve Management, 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 Maritech

Maritech Resources, Inc., a subsidiary of TETRA Technologies, Inc., is a rapidly growing energy company that acquires, develops and produces oil and gas reserves in the Gulf of Mexico and inland waters of Louisiana. The company has expertise in evaluating mature oil and gas properties to determine both the economic life remaining and the future abandonment and decommissioning liabilities. Maritech acquires the working interests in these mature production properties, manages the remaining production, and extends their economic life through further development and well improvement measures. All necessary well abandonment and decommissioning services are then performed by a sister company or a third party provider.

Source: Business Wire

More News in this Category