Riverbend Energy Group Selects W Energy Software
Riverbend Energy Group, a Houston-based energy asset management company experiencing significant growth and managing over $3 billion in enterprise value, selected W Energy Software's modern, scalable SaaS upstream accounting solution for its fast, reliable settlement processes, flexible multi-company consolidation, intuitive user interface, continuous technology upgrades, and alignment with Riverbend’s data-driven culture to replace its legacy on-premise system and support its expanding portfolio and lean operational model.
W Energy Software, a leader in upstream and midstream oil & gas SaaS ERP solutions, announced that Riverbend Energy Group has selected its upstream accounting solution. Riverbend Energy Group, having experienced significant growth since its formation in 2003, sought a modern SaaS solution to manage the scale and complexity of its expanding portfolio. Key reasons for choosing W Energy Software included fast and reliable settlement processes, a reputation for client partnership, and a true SaaS experience with best-in-class technology and continuous upgrades.
Matthew Cochrane, Vice President and Chief Compliance Officer at Riverbend Energy Group, stated that W Energy Software's modern architecture aligns well with Riverbend’s data-driven culture. He highlighted the value of W Energy Software’s commitment to innovation, intuitive user interface, and the assurance of always operating on the latest scalable technology.
Riverbend Energy Group, headquartered in Houston, is recognized for acquiring, developing, and monetizing energy assets, including operated assets, non-operated working interests, and minerals and royalties. Since 2003, it has managed over $3 billion in enterprise value across nine asset portfolios, currently overseeing four portfolios in major U.S. basins.
As the company continued to grow, limitations of its legacy, on-premise accounting solution prompted a search for a modern ERP that matched Riverbend’s values and operational needs. The goal was to modernize business processes with advanced technology and support a lean, high-performing team.
Reasons for selecting W Energy Software over the competition include:
- Flexibility to consolidate multiple companies in a single view and match operational complexity at any scale, supporting Riverbend’s growth objectives.
- Customizable SaaS ERP with a consistent user experience across accounting workflows, including Financials, Accounts Receivable, Accounts Payable, Revenue Accounting, and Joint Interest Billing.
- Advanced capabilities for monthly disbursement and transitioning more owners to digital payments, along with next-generation Division Order management for efficient owner relations.
- Superior customer service, strong customer references, and a reputation for client partnership.
- Best-in-class, cloud-optimized technology enabling effective scaling.
Pete Waldroop, CEO of W Energy Software, expressed gratitude to Riverbend for choosing their upstream accounting solution, noting that W Energy Software has become the go-to ERP for digital innovators seeking cloud-based solutions to increase agility and manage assets efficiently.
Waldroop also commented on the industry trend of moving away from legacy software toward modern, reliable, and consistent SaaS ERP solutions.
About W Energy Software
Headquartered in Tulsa, Oklahoma, W Energy Software provides a unified ERP solution for the oil & gas industry, relied on by over 130 upstream and midstream companies. The platform accelerates business performance, improves operational efficiency, and reduces costs by combining precision-built software in a cloud-based workspace with deep industry understanding. Unlike other ERP software that integrates disparate legacy solutions, W Energy Software offers a unified platform to track oil, gas, and NGL from wellhead through transportation and marketing, eliminating data silos and reducing system maintenance burdens. This enables companies to remain agile and confident in their technology.
About Riverbend Energy Group
Founded in 2003, Riverbend Energy Group has acquired, developed, and managed nine asset portfolios totaling over $3 billion in enterprise value. The company has monetized five portfolios, generating significant returns for investors across various strategies and market cycles. Riverbend’s portfolios include operated, non-operated, and mineral and royalty assets in oil and gas, as well as investments in the energy transition sector. The company is known for its principles, strategies, and talented team, delivering successful outcomes in the energy industry.
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