P2 Energy Solutions Announces the Release of Excalibur Online
Robust oil and gas software package now available in a subscription model
DENVER (October 8, 2009) - P2 Energy Solutions, the leading provider of business software, map data and enterprise services to the oil and gas industry, announces the release of Excalibur Online, a centrally hosted, subscription-based, accounting, revenue, land and production accounting solution for oil and gas companies of all sizes.
Excalibur Online provides the industry’s standard in oil and gas business software in an affordable, web-based delivery model that allows E&P companies to focus on managing their core business. Excalibur Online is a single, integrated application that manages all of the interrelated functions of accounting, revenue and land management: financial accounting, revenue processing and check distribution, cost accounting and joint interest billing (JIB), authorization for expenditure (AFE) management, land lease and ownership management, production and operations management, royalty and regulatory requirements management, and financial and operational reporting.
“The Excalibur Online subscription-based model is extremely cost effective. It is ideally suited to the cyclical nature of the energy industry,” said David Verdun, Chief Technology Officer for P2 Energy Solutions. “Costs are transparent, predictable and controllable by scaling the number of users up or down as needed.”
“We have been using Excalibur for over ten years to compute royalties and lease rentals,” said John Brown, IT Lead for Business Applications at Northwestern Energy. “In an effort to stay current and simplify our internal processes, we have chosen to leverage the new Excalibur Online service. In addition to the flexible pricing model, it is our expectation that Excalibur Online will save us costs on future IT infrastructure and support.”
“By using Excalibur Online, clients are able to leverage P2 Energy Solutions’ industry best practices, IT knowledge and deep resource pool, as well as our centralized SAS 70 compliant data center,” Verdun continued. “Our data center provides clients the assurance that they have implemented the highest levels of security, system uptime and risk and disaster management through backups and disaster recovery services.
About P2 Energy Solutions Inc.
P2 Energy Solutions is the only technology company that provides a comprehensive range of oil and gas software, geospatial data, land management tools, and outsourcing, to the energy industry. More than 650 top energy companies use P2 products and services daily to improve decision-making, gain clarity into complex workflow scenarios, and optimize upstream efficiency. P2 serves the entire energy sector -- including hydrocarbon-sourced, as well as alternative-sourced energy, including solar, wind, hydro-, and geothermal. With more than 80 years of experience in data and 30 years in software P2 operates from headquarters in Denver, CO, has offices in six locations including Houston, TX, and employs 600 people.
