Press REleases:
Regency Gas Services, LLC Licenses
Multiple Quorum Software Products to Support Its Gas Plant
and Gathering Facility Operations
Houston, Texas – June 26th, 2003. Quorum Business
Solutions, Inc. (Quorum) announces the licensing of a number
of Quorum Energy Suite software products to Regency Gas Services,
LLC (Regency). Regency will deploy Quorum Measurement, Quorum
TIPS, Quorum Imbalance, Quorum Regulatory Reporting and the
Quorum Query and Reporting module to support its operation
of recently acquired midstream assets from El Paso Midstream
Group.
Following several recent licensing announcements of Quorum
TIPS with Sago Energy, LLC and Mustang Gas Products, LLC,
this new agreement confirms Quorum’s dominance in the
Plant Management Accounting software market, which is now
used in approximately 80% of all plant production across
the USA. Additionally, Regency’s licensing of Quorum
Measurement, a software application designed to help manage
and store all natural gas measurement data, serves to validate
this new software product’s market acceptance.
Regency is an investment vehicle formed by a private equity
firm, Charlesbank Capital Partners, LLC, and an experienced
gas management group. Its newly acquired assets include four
natural gas processing plants; two in Louisiana, one in Oklahoma
and one in Kansas, as well as 2,100 miles of pipelines to
move gas to those locations. The asset purchase, valued at
$120m, closed on June 5, 2003.
Regency’s selection of the Quorum products was, in
part, based on the overall scope of functionality provided
by the integration of the software and Quorum’s significant
domain expertise across gas plant accounting and operations
business processes. Additionally, Quorum’s ability
to expedite the implementation to allow business operations
to commence is short order was a key decision criterion.
The Quorum products will be implemented in September, 2003.
“Regency is a significant new customer for Quorum
Business Solutions,” said Mr. Paul Weidman, President
of Quorum Business Solutions, Inc. “Regency’s
licensing of a number of our software products once again
validates the business value of the integrated nature of
the Quorum Energy Suite and our ability to quickly implement
multiple products on a coordinated basis.”
About Quorum Business Solutions,
Inc.
Quorum Business Solutions, Inc. is a product
centered services company that develops and supports industry
standard applications
across a wide range of businesses. Quorum works closely
with clients building long-term relationships: developing,
delivering and supporting cost effective business solutions.
Quorum is committed to providing the right people, expertise
and tools to deliver successful solutions its clients can
count on. Founded in 1998, Quorum now has over 120 staff
operating out of offices in Houston, Dallas, and Calgary.
Quorum
provides the Quorum Energy Suite, a set of software applications
for the energy industry that includes TIPS (Plant
/ Facility Accounting), the de facto industry standard solution
for gas plant accounting. Quorum’s energy industry
product offerings are specifically designed for companies
that produce, gather, transport, process and market natural
gas and other energy commodities. The company has an extensive
client base and a strong reputation for delivering cost-effective
solutions.
For more information, visit Quorum’s web
site at www.qbsol.com or call us at 713-430-8601.
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