Press REleases:
Quorum Business Solutions Records Strong Corporate Performance in 2003
Major New Client Contracts and Expanded Energy Software Product Portfolio
Houston, Texas – February 26th, 2004. Quorum Business Solutions, Inc. (Quorum), a leading provider of software solutions and product centered consulting services to the oil, gas industry, reported strong product sales and continuing profitability in 2003. Quorum achieved record sales, launched a number of new energy software products, completed a number of major projects, and concluded two successful recruiting campaigns. Quorum was recognized by Inc. magazine as one of America's 500 fastest-growing private companies in 2003.
Despite soft economic conditions in 2003, Quorum signed a record 19 project agreements. Interest in Quorum TIPS, the de facto industry standard for gas plant accounting was high during the year. Quorum TIPS was licensed to a total of six new clients in 2003. Demand for Quorum Contract Management also continues to be high as companies across the industry look to adopt more stringent enterprise-wide corporate governance standards. Quorum Contract Management was successfully installed at six client sites.
Significant new clients include Cinergy, Enogex, Gulf South Pipeline, Merit Energy, Mission Resources, Mustang Fuel, Regency Gas, Sago Energy and Shell Gas Transmission. Quorum also signed a new license agreement for its Quorum Land software with a major energy company in Europe representing its first software licensing success outside of North America. Additionally, the company successfully completed a multi-year project at El Paso Corporation to design and install Quorum Production and Revenue Accounting.
In 2003, Quorum significantly expanded the scope of its Quorum Energy Software Suite by adding new software products for Pipeline Transaction Management, Pipeline Integrity Management and Production & Revenue Accounting. It also delivered enhanced versions of Quorum Land and Quorum Right Of Way.
"Quorum's strategic investment in our clients, products and people is generating dividends in terms of good corporate performance," said Paul Weidman, President & CEO of Quorum. "Our success is largely attributed to our focus on client service. Positive recommendations from our clients contributed substantially to our success in 2003."
About Quorum Business Solutions,
Inc.
Quorum Business Solutions, Inc. is a product-centered consulting services company that designs, develops, implements and supports business software solutions with a unique approach to helping clients obtain long-term value.
Quorum provides industry standard energy software solutions as well as software products that support selected business processes across multiple industries, including Enterprise Incentive Management (EIM) and Contract Management software. Founded in 1998, Quorum now has over 140 staff operating out of offices in Houston, Dallas, and Calgary. Represented among Quorum’s clients are over 20 Fortune 500 companies.
Quorum provides the Quorum Energy Software Suite, a set of business applications for the energy industry that includes TIPS, the de facto industry standard solution for gas processors.
Quorum’s energy software products are used by companies that produce, gather, transport, process and market natural gas and other energy commodities.
The company’s products include Contract Management, Land and Lease Management, Production and Revenue Accounting, Gathering Management, Environmental Management, Joint Interest Billing, TIPS (Gas Plant Accounting and Allocations), Measurement, Right of Way, Pipeline Transaction Management, Pipeline Integrity Management, Liquids (NGL) Marketing, Gas Marketing, and LDC Transportation Management.
For more information, visit Quorum’s web
site at www.qbsol.com or call us at 713-430-8601.
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