Vertex supplies turnkey business solutions to manage energy assets and operations.

  • Contracts, and mineral and surface rights & obligations
  • Capital projects - exploration, development, and construction
  • Field operations and performance
  • Production and revenue accounting
  • Financial and joint interest accounting
  • Treasury and banking functions
  • Capital and Operations planning, budgeting, and forecasting
  • Business intelligence and analysis tools

After 30 years of service, we help customers focus on what is significant and relevant to the industry.

  • Management & internal controls to ensure that stakeholders get consistently reliable information
  • Global scope, based on industry best practices, across all jurisdictions
  • QA and analytical features required by property analysts and engineers
  • Auditors’ tools to provide easily accessible, verifiable results and history
  • Continuous system investment to protect product stability in a dynamic industry
  • Process efficiencies translate into reduced demand for specialists in a tight market
  • Technology platform options that provide for unlimited business growth
  • Responsive customer service and support for the total customer experience

….Vertex delivers the systems and service that customers need for long-term success.

 


Make better decisions with timely, customized and reliable information.
Transform complexity into superior customer service and better corporate performance.


Daily allocation of gas
Vertex has been selected by a major producer to develop and implement a daily contract allocation process to streamline field and gas plant operations. The system imports wellhead volumetric and analysis data from a variety of sources and electronically delivers the owner sales by contract to pipeline operators on a daily schedule. The same information is available to producers to support their revenue forecasting and operations performance monitoring.
Phase 1 consists of consolidation of systems and data into a single comprehensive database supporting the field and plant operators as well as the production and revenue accounting function.
What is particularly attractive to the producer is that the daily allocation process uses the same field configuration data of wells, gathering, plant facilities, and sales contracts as is in place for the monthly accounting function. This parallel approach means that system maintenance costs are minimal, and producers can rely on the accuracy of their pipeline deliveries based on strict quality assurance on inputs, and on daily meter balancing.
Phase 2 of the plan addresses the operations performance issues around reserves, production target vs. actual, and monitoring performance of remediation steps.

January 2010
Implementation of phases 1 and 2 is complete. The success indicator is that the major producer and sponsor of this project has expanded the scope, and is undertaking implementation at other operated facilities as quickly as possible.

June 2010: Plant/Facility accounting module
Vertex announced that it is preparing for release of a full-function contract management and plant accounting system designed for operators of oil and gas facilities. The application has been developed with upstream and midstream operators in mind. Project scope includes contract management, calculation of fees related to both throughput and fixed-fee services, invoicing, and equalization processes to deal with third-party production. Management reporting is designed to assist with the fee negotiation process, as well as to identify and maximize revenue opportunities. Integration with the production and revenue accounting application offers substantial economic benefits and productivity improvements to customers.
Prototype testing is underway; first installation is planned for Q2 of 2010.

For further information, please contact Vertex at: business.dev@vertexsr.com

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