CALGARY, Nov. 25 /CNW/ - Quorum Business Solutions, Inc. (Quorum), a leading provider of business and information technology solutions for the oil, gas, and renewable energy industry, announces the addition of oil and gas royalty accounting functionality to Quorum TIPS, gas plant accounting software, to address Canadian producers' royalty management and production accounting requirements.
Working with various client producers, Quorum has developed enhancements to its gas plant accounting and production accounting software to manage Crown royalties, freehold and gross overriding royalties (GORR), and associated reporting to royalty owners.
"While Quorum TIPS has always had particular strength handling plants with complex operational and commercial characteristics, the recent royalty enhancements are significant in terms of making TIPS a fully functional gas plant accounting system that meets the production accounting requirements of any organization operating gas plants in Canada," says Eric Hazeldine, Vice President of Quorum Canada.
Quorum TIPS manages the accounting for both the physical gas that is gathered and/or processed as well as the contractual agreements between producers, gatherers, processors, marketers and facility co-owners. Quorum TIPS processes approximately 80% of total U.S. gas plant output and manages over 100 gas processing facilities in Canada, including some of the most complex gas plants.
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. is a software and consulting solutions company that develops, implements, and supports a suite of business software solutions for the energy industry with a unique approach to providing a longer product life span. Founded in 1998, Quorum employs over 350 staff operating out of offices in Calgary, Houston, and Dallas. Quorum has ongoing relationships with over 100 clients, among which 25 Fortune 500 Companies are represented. Throughout its ten year history, Quorum has successfully completed over 400 business and information technology projects.
The Quorum Energy Software Suite is a set of integrated business applications designed for companies that produce, gather, transport, process and market oil, natural gas, natural gas liquids, LNG, wind generation and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing of the full energy value chain.
For more information, visit Quorum's web site at www.qbsol.com or call us at 403-668-4332.
SOURCE QUORUM BUSINESS SOLUTIONS (CANADA) INC.
For further information: For further information: Jessica Sumners, Quorum Business Solutions, Inc., (713) 430-8624, firstname.lastname@example.org