Implementation marks 34th client of industry standard accounting solution
Houston – May 9, 2006. Quorum Business Solutions, Inc. (“Quorum”), a leading provider of software solutions for the oil and gas industry, announces that Crosstex Energy, L.P. (Nasdaq: XTEX) (“the Partnership”) has successfully deployed Quorum TIPS and Quorum Query Module to manage newly acquired processing and liquids assets. The software implementation project was completed on schedule and on budget.
“We are extremely pleased to be working with Quorum,” says William W. Davis, Chief Financial Officer of Crosstex. “Quorum developed a well-defined project management charter tailored specifically to our business. The charter clearly defined project goals, assigned individual and team roles, and identified likely risks. We were impressed with the Quorum team and how efficiently they managed the implementation project.”
Quorum TIPS is the de facto industry standard in gas plant accounting. In production since 1992, TIPS settles and allocates 80 percent of the natural gas processed in the United States. In addition to the Quorum Query Module, optional sub-modules include Quorum Division Order & Disbursements, Quorum Regulatory Reporting, and Quorum PGAS (gas measurement).
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. is a product-centered consulting company that develops, implements, and supports a suite of business software solutions for the energy industry with a unique approach to providing a longer product life span. Founded in 1998, Quorum now has over 200 staff operating out of offices in Houston, Dallas, and Calgary. Quorum has over 45 clients, among which 25 Fortune 500 Companies are represented.T
he Quorum Energy Software Suite is a set of integrated business applications designed for companies that produce, gather, transport, process and market oil, natural gas and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing.
For more information, visit Quorum’s web site at www.qbsol.com or call 713-430-8601.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates over 5,000 miles of pipeline, ten processing plants, four fractionators, and approximately 150 natural gas amine treating plants and 22 dew point control plants. Crosstex currently provides services for over 3.0 Bcf/day of natural gas, or approximately 6.0 percent of marketed U.S. daily production based on August 2005 Department of Energy data.
Crosstex Energy, Inc. owns the two percent general partner interest, an approximately 38 percent limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P.
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or call us at (713) 430-8601
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