Laredo Petroleum has signed software licenses for W Energy Software’s upstream accounting and land management suite of products on April 27. Top reasons for selecting W Energy Software include its reputation for customer service excellence, a unified upstream ERP platform built on the cloud spanning accounting and land workflows, and true SaaS experience that provides Laredo Petroleum with an all-inclusive solution and continuous upgrades.
Headquartered in Tulsa, Oklahoma, Laredo Petroleum is a publicly traded energy company with primary operations in the Midland Basin where it operates approximately 1,400 wells and holds 140,000 gross acres. As Laredo Petroleum successfully executes its growth strategy and advances operational efficiency further through digital innovation, the producer recognized the value of cloud-based ERP solutions, which offer scalability and high-performance computing to match its growth profile.
Laredo Petroleum selected W Energy Software’s full upstream SaaS ERP, which will provide it with a broad spectrum of integrated business applications. Its new cloud-based ERP boasts a comprehensive suite of accounting modules, including financial accounting, revenue accounting, joint interest billing, fixed assets, purchasing, authorization for expenditure, and materials inventory. The W Energy Software solution also provides Laredo Petroleum with next generation division order, lease administration, and GIS capabilities. Additional modules licensed by Laredo Petroleum include W Energy Software’s Marketing solution and ONNR reporting.
“In addition to W Energy Software’s industry-wide reputation for partnering with their clients to ensure long-term success, bringing disparate accounting and land systems together in a unified SaaS solution that is purpose-built for oil and gas companies was very attractive to us,” Brandon Brown, vice president and CIO at Laredo Petroleum, said.
Recommended Reading
Gunvor Group Inks Purchase Agreement with Texas LNG Brownsville
2024-03-19 - The agreement with Texas LNG Brownsville calls for a 20-year free on-board sale and purchase agreement of 0.5 million tonnes per annum of LNG for a Gunvor Group subsidiary.
CERAWeek: LNG to Play Critical Role in Shell's Future, CEO Says
2024-03-19 - Sawan said LNG will continue to play a critical role adding that LNG currently makes up around 13% of gas sales but was expected to grow to around 20% in the coming 15 to 20 years.
CoolCo, GAIL Enter Long-term LNG Agreement
2024-05-16 - CoolCo and GAIL’s agreement is intended to secure long-term LNG supply in India’s market, with GAIL having an option to extend the 14-year agreement by another two years.
Sempra Targets Summer 2025 for Commercial Start of ECA LNG Phase 1
2024-03-06 - Sempra is targeting the summer of 2025 as the commercial operations date for its 3.25 mtpa (0.43 Bcf/d) nameplate capacity Energía Costa Azul LNG Phase 1 project, located in Ensenada in Baja California, Mexico.
NextDecade Targets Second Half of 2024 for Phase 2 FID at Rio Grande LNG
2024-03-13 - NextDecade updated its progress on Phase 1 of the Rio Grande LNG facility and said it is targeting a final investment decision on two additional trains in the second half of 2024.