P2 Energy Solutions announces Plains All American Pipeline implements Enterprise Upstream software
DENVER (July 24, 2009) -- P2 Energy Solutions, the leading provider of business software, map data and enterprise services to the oil and gas industry, announces Plains All American Pipeline, L.P. has implemented Enterprise Upstream to handle its joint venture accounting.
Enterprise Upstream is an integrated, web-based solution that streamlines administrative processes and centralizes the management of data and information access across different business departments. Developed on the Oracle technology platform, Enterprise Upstream integrates with the Oracle E-Business Suite and can be connected to other leading ERP solutions. The complete Enterprise Upstream Suite includes deep oil and gas functionality in the areas of business intelligence, operations accounting, volumes management and land management.
“We wanted to replace our existing joint venture accounting system with a system that was integrated with the Oracle E-Business Suite,” said Al Lindseth, Senior Vice President, Technology, Process & Risk Management for Plains All American. “We were looking for increased capabilities that would streamline our accounting processes and eliminate the need to support a disparate data system.”
Plains All American has implemented the Enterprise Upstream Joint Venture Accounting (JVA) module, which provides the following capabilities: allows for multiple cost centers per Division of Interest (DOI), allocates costs, manages billing processes, generates invoices and statements, and provides the data for analyzing operating costs.
“By standardizing on a single ERP platform, Plains All American will be able to leverage efficient and standardized process built into Enterprise Upstream,” said Bret Bolin, President and CEO, P2 Energy Solutions. “This will facilitate the workflows of Plains All American and improve access to decision-quality data that crosses geographic and business unit boundaries.”
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products. Through its 50% indirect ownership in PAA Natural Gas Storage, LLC, the Partnership also engages in the development and operation of natural gas storage facilities.
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, Reserves Management, Excalibur, Qbyte, Tobin Enterprise Land, Tobin GIS Studio, Tobin SuperBase and Wellcore. 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 super-majors.
