A Simple Oil and Gas Accounting System

A simple oil and gas accounting system is best. One system is better than three. That’s the mantra behind Corptex Systems Ltd., an innovative Calgary technology firm.

At that time, founder Brian Shyba was working as a consultant in Calgary’s oil and gas industry. With a background in business and programming, Brian was extremely versatile. He covered a lot of ground, consulting at more than 50 oil and gas companies.

In all these settings, Brian noticed a curious thing. Despite an obvious and pressing need for integration, each company operated separate oil and gas accounting systems for financial, production, and land accounting. That created complex operational problems. Like murky datasets. Awkward communication. Cumbersome programming. Uncertainty and pain points at every step of the way.

Brian knew one oil and gas accounting system would be better than three. “In those days, each system had separate cost centers, which were copied and didn’t integrate well. Same thing with production vouchers, which had to be copied. Same thing with business associates — every department used the same ones, but they created them separately, then got their wires crossed whenever there was an update. From a business and programming perspective, one system would be so much better.”

Fast forward to 2013, and Brian begins working on Energy Corridor, convinced he can create a better oil and gas accounting system. Fast forward again to 2016, when the company is founded. Fast forward again to 2017, when Energy Corridor goes live. Or to 2018, when the first financial accounting client converts from JVNexus to Energy Corridor. Or to 2020, when the financial and production modules merge … and The One is born.

Want to learn more? Visit Oil and Gas Accounting Software to learn more about Energy Corridor — the oil and gas industry’s first unified accounting system. Or better yet, contact us to schedule a demo.