Quorum TIPS Gathering Now Manages Carbon Dioxide Processes for Enhanced Oil Recovery
First Commercially Available Application Capable of Managing Intricacies Related to CO2 Flooding
Houston – January 6, 2011. Quorum Business Solutions, Inc. (Quorum), a leading provider of business and information technology solutions for the oil, gas, and renewable energy industry, announces the full integration of CO2 processing as used in enhanced oil recovery into Quorum TIPS Gathering. Quorum TIPS Gathering is the industry’s only solution to account for the full life cycle of the CO2 business, from production to transportation and the ultimate re-injection or flooding of an oil reservoir.
“Quorum is excited about the new carbon dioxide offering as it fills a long standing need in the industry,” said Tate Greer, Director – Midstream of Quorum. “This development further sets Quorum apart as the clear industry leader and single-solution provider to address all of the midstream’s business needs.”
The augmentation to the functionality within TIPS Gathering to handle CO2 complexities provides Clients a host of benefits that will increase the efficiency of operations. The application allows Clients to accurately determine the source field owners’ entitlements and flood owners’ obligations along with their imbalances for a given production month, cutting out many manual, off system processes. Along with tracking these CO2 imbalances, Clients are able to choose from multiple cashout options allowing for seamless transactions. Likewise, these added capabilities permit joint interest billing to those CO2 flood owners who have elected to have their flood obligations for the given production period purchased by the operator rather than supplying those volumes in kind.
Furthermore, TIPS Gathering can now handle many of the functions specific to the gathering processes for CO2. Some of these functions include: performing gathering allocations for multiple products based upon scheduled quantities; the ability to handle unique conversion factors pertaining to CO2 quantities, such as specifying a custom pressure base conversion factor; and completing scheduling and allocations on a volumetric rather than heat value basis. In addition to performing the scheduling functions associated with moving CO2 volumes, Clients are able to leverage the robust allocation and settlement engines that TIPS Gathering has already mastered.
The CO2 flooding enhancements were developed in conjunction with the world’s largest user of carbon dioxide for enhanced oil recovery. The implementation project went live on December 28, 2010.
About Quorum Business Solutions, Inc.
Quorum Business Solutions, Inc. is a software and consulting solutions 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 employs over 350 staff operating out of offices in Houston, Dallas, and Calgary. Quorum has ongoing relationships with over 100 clients, among which 25 Fortune 500 Companies are represented. Throughout its twelve year history, Quorum has successfully completed over 450 business and information technology projects.
The Quorum Energy Software Suite is a set of integrated business applications designed for companies that produce, gather, transport, process and market oil, natural gas, natural gas liquids, LNG, wind generation and other energy commodities. The inherent integration of the suite allows the products to work together to facilitate straight through processing of the full energy value chain.
For more information, visit Quorum’s web site at www.qbsol.com or call us at 713-430-8601.