P2 Energy Solutions (January 2003)

P2 Energy Solutions (January 2003)

Petroleum Place has announced the creation of a new ‘Energy Solutions’ company, amalgamating Novistar, Paradigm Technologies and Petroleum Financial Inc. The new unit consolidates the company’s financial and ERP offerings.

At this month’s NAPE Expo in Houston, Petroleum Place announced the creation of a new company—Petroleum Place Energy Solutions (P2ES). P2ES was formed by the amalgamation of Paradigm Technologies, Novistar, and Petroleum Financial Inc. (PFI). At the NAPE, P2ES featured its new merger and acquisition support offering—integrated due diligence and data conversion services.

210 clients

The merger is claimed to create the largest enterprise solution and service provider in the upstream. Paradigm and Novistar have implemented integrated financial and operational management systems for over 200 companies including majors and large independents.

Dedicated

By combining Paradigm and Novistar along with key strategic alliances, P2ES has established a team of technical and functional software experts. P2ES focuses on development and support of technology solutions for upstream business process and application integration.

Vickers

Gary Vickers, chairman and CEO of Petroleum Place said, “P2ES will provide premier solutions and services to existing clients. The addition of Novistar’s 6i Upstream Suite to the Paradigm Technologies product line enables us to offer a powerful, scalable solution to meet the needs of companies from small independents to the super-majors.” 6i Upstream (formerly Oracle Energy) is used by some 30 companies, including ConocoPhillips, Dominion, Kerr-McGee, Newfield, Oxy, Shell and Unocal.

Excalibur

Other key P2ES products are Paradigm Technologies’ Excalibur (over 150 clients including Anadarko, Energen Resources, Questar Market Resources, Stone Energy, Tom Brown, Westport Resources and Williams Production) and the Enterprise Upstream accounting package—used notably by Encana.

Pruett

P2ES president Steve Pruett added, “We have established the industry’s largest installed base which will enable us to develop and offer an expanded suite of solutions and services.” P2ES has 250 employees in Houston, Dallas/Fort Worth, Denver and Calgary.

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