Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

CABOT OIL & GAS EXTENDS ITS INVESTMENT IN SOLUTIONS FROM P2

CABOT OIL & GAS EXTENDS ITS INVESTMENT IN SOLUTIONS FROM P2

Leading upstream producer adds Enterprise Upstream, P2 Merrick, P2 Operational Intelligence, Domain, and P2 AFE to improve back-office effectiveness

P2 Energy Solutions, the leading developer of accounting and production software for the upstream oil & gas industry, today announced that long-time customer Cabot Oil & Gas has expanded its relationship with P2, implementing market-leading solutions that comprehensively modernise its accounting infrastructure.

The decades-long relationship between the two companies began with Cabot’s installation of the predecessor to Tobin Land Suite (now called P2 Land). In the last 18 months the company’s investment in P2 has grown to include:

  • P2 Merrick for production management and hydrocarbon accounting
  • P2 Operational Intelligence for 24/7 monitoring of asset performance
  • P2 AFE for managing authorizations-for-expenditure approvals and balloting
  • Enterprise Upstream for enterprise level oil & gas accounting
  • Domain for division order management

Cabot identified a need to update its legacy finance systems in the Summer of 2015. A proprietary accounting solution had been built in-house on IBM’s AS/400 server platform and their production accounting system was no longer supported. Decades of customization had expanded its core functionality and connected a number of disparate systems, but senior leadership recognized the need to upgrade their systems to meet longer-term strategic goals.

A rigorous procurement process narrowed the vendor list to P2 and three other vendors. P2 won the day based on its track record as a trusted Cabot vendor, ease of integration between systems, and the company’s position as market leaders in all the solution categories Cabot needed to implement.

“This ERP implementation was a complete transformation and had the potential for significant disruption to the organization.  Given the long-standing relationship and proven track record, the decision to partner with P2 for this major corporate initiative was the absolute right choice,” said Chip Dyson, Vice President of Information Services for Cabot Oil & Gas.

“The ease of integration between Land, Accounting, Production, Operational Intelligence and AFE was paramount and P2’s offerings will enable the business to leverage the full value of our investment.”

“The success of this project is a real testament to the strength of the Cabot team, the power of P2’s solutions and the ability of our organizations to work as a unified, high-performance team focused on delivering the outcomes defined by Cabot at the onset of the project,” said J. Scott Lockhart, CEO of P2 Energy Solutions. “We look forward to supporting Cabot Oil and Gas further as it continues to grow and thrive.”

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post