W Energy Software Accelerated Upstream And Midstream Growth
W Energy Software has rapidly expanded its presence in the upstream and midstream oil & gas sectors by capturing 40% of the natural gas processing market, growing its midstream client base by over 30%, and doubling client bookings for a second consecutive year through its innovative cloud-based ERP platform that replaces legacy systems and optimizes business processes.
W Energy Software, a leader in upstream and midstream oil & gas ERP solutions, has achieved a 40% market share for natural gas processing and has experienced accelerated growth across both midstream and upstream sectors in the past year. The company is on track to double client bookings for a second consecutive year as energy companies move away from legacy software providers to adopt its cloud-based ERP platform. This platform offers a true SaaS experience, all-inclusive upgrades, reduced G&A, and business process optimization designed to support company growth.
In the last year, W Energy Software’s midstream client base grew by more than 30%, driven by the replacement of 21 legacy plant accounting solutions and increasing demand for its liquids transportation software. Its recently launched upstream ERP solution has also gained significant traction, establishing the company as a category-leading solution provider in multiple markets.
“We set out to redefine energy software just ten years ago with W Energy Software’s first solution for the complexities of natural gas plant accounting and within a few years we’ve rocked the incumbent legacy solution provider back on its heels by taking 40% of the market…what we’ve continuously heard from the market is that there truly is no other modern, cloud-based oil & gas ERP solution to take business performance to the next level like W Energy Software and that our capabilities align with the vision of many energy companies who aspire to become best-in-class.”
— Pete Waldroop, CEO of W Energy Software
Waldroop added, “We are doubling down on the high level of innovation and client service that sets W Energy Software apart from the legacy solution providers and continuing to build out our roadmap for the upstream market where we have seen accelerated growth in the last year. I am so thankful for the tremendous industry response we’ve had and valued clients who helped us get here. We are on pace to double bookings for the second consecutive year with the velocity continuing to increase.”
Founded in 2009, W Energy Software initially focused on solving the accounting complexities of midstream energy companies with solutions for plant accounting, gathering, liquids transportation, and terminal management. The company experienced rapid customer growth from its inception, with its midstream business growing by more than 30% from 2018 to 2019. Leveraging this momentum, W Energy Software entered the upstream market in 2016, partnering with clients like WPX Energy to create next-generation, best-in-class upstream SaaS solutions for financial accounting, land, division order, revenue disbursement, and production operations.
Key markets where W Energy Software is gaining rapid market share include:
- Natural gas plant accounting: 40% of US gas processing plants are now settled with W Energy Software, with 21 new clients recently moving from the legacy provider. Recent client wins and product deployments include Roaring Fork Midstream, Colt Midstream, and Sterling Energy.
- Liquids transportation: 125 facilities settled, and 1 billion barrels of oil tracked every month with W Energy Software. Recent client wins and product deployments include Phillips 66, one of the largest crude oil and NGL transportation systems in Canada, and a leading Permian Basin water pipeline operator.
- Upstream accounting: Accelerated adoption of W Energy Software’s upstream ERP solutions from 2018 to 2019, with more than 30,000 wells tracked. Recent client wins and product deployments include HKN Energy, Vernon E. Faulconer, and Rosewood Resources.
Supporting its rapid upstream and midstream market expansion is WE Partner, W Energy Software’s recently announced partner ecosystem. This ecosystem consists of implementation specialists, business process outsourcing firms, and technology providers, including AWS. WE Partner has quickly attracted partners who recognize the benefits of a unified oil & gas SaaS platform and the company’s commitment to customer success.
Pete Waldroop commented, “What defines W Energy Software is our total commitment to client success and relentless innovation, which is why we continuously expand our product lines and partner with clients to ensure we are providing measurable value to their bottom line. I’m excited about the future of W Energy Software and we will be announcing soon just how our oil & gas ERP platform is poised to grow with a new product line and industry initiative for building the next generation of energy software, together.”
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