Press Release: CrownQuest Selects P2’s BOLO Software to Enhance Its Oil and Gas Accounting Efforts

With access to timelier reporting, company’s operations personnel can now execute smarter and faster

DENVER, CO – (Aug. 12, 2015) – P2 Energy Solutions announced today that CrownQuest Operating, LLC, a growing independent exploration and production company (including its affiliate, CrownRock, L.P.), has selected P2’s BOLO accounting software to give the company’s accountants a stable environment from which to work and to enable them to provide a higher level of service to other groups within the organization.

As industry lease operating expenses continue to climb and oil prices continue to crawl, upstream oil and gas organizations are searching for ways to execute at a higher level and rein in costs. With BOLO, CrownQuest’s accountants will be able to generate key reports, such as JIB invoicing and revenue distribution processing, and quickly get the information in front of the company’s operational departments. This will enable them to perform more analysis and make better decisions for the business.

“We really needed a stable system that could handle our growth and help us reach our goal of strengthening our role as a service organization within the company,” said Curt Kamradt, CrownQuest’s Vice President of Finance and Chief Accounting Officer. “We wanted our teams to be able to spend less time processing information and more time analyzing it.”

Added Andy Bane, P2’s Senior Vice President of Marketing and Product Management: “Exploration and production companies, unsurprisingly, are adapting their business processes to combat these challenging times. They have to. CrownQuest’s selection of BOLO is another great step toward smarter, more efficient operations.”

About CrownQuest
Based in Midland, Texas, CrownQuest is an independent oil and gas company focused on identifying, acquiring, exploring and developing oil and natural gas properties. The organization's main areas of operation are in the Wolfberry Project and the Spade Ranch Project in West Texas, as well as the Northern Region Project in New Mexico. www.crownquest.com.

About P2
P2 Energy Solutions Empowers the People Who Power the World. Upstream oil and gas professionals who are focused on solving tough challenges rely on P2 software, data and analytics solutions to optimize their business performance. More than 1,500 companies from around the world use P2 solutions every day to manage their land assets, measure and process financial information, optimize production, manage their reserves and so much more. www.p2energysolutions.com.