Quorum TIPS Forecasting™ - Software Solution

Software to perform detailed forecasting of natural gas processing plant accounting for future months with the ability to compare against actual results

Quorum TIPS is the recognized industry standard for managing the full set of operational and commercial transactions between natural gas processing plant operators and their customers. Quorum TIPS Forecasting™ is a modular solution for TIPS clients that allows prediction of current and future production month processing results using volume extrapolation algorithms and margin analysis tools to assist with both short-term and long-term forecasting.

Quorum Forecasting module performs complete TIPS processing at each facility, and enable users to:

Perform daily, monthly, quarterly and yearly volume extrapolation utilizing best available daily measurement to determine current month and / or future month volumes
Leverage new ‘Smart Data Sync’ functionality to keep data in the forecasting environment in sync with TIPS Production, but allow forecasting users to override and protect data only intended for TIPS Forecasting
Input additional information pertinent to margin calculations
Control the output of the margin estimation process allowing more flexible reporting and analysis
Create logical ‘facility groups’ and launch multiple facilities and production dates as a single group
Generate monthly accrual estimates for existing plants set up in Quorum TIPS Gas Plant Accounting
Generate quarterly and yearly results for use in multi-month future forecasts and 5-year profit plans
Utilize audit functionality to track changes made between various forecast runs
Predict the long-term impact of contractual ethane rejection related to producer option contracts
Perform “what-if” forecasts

Quorum Forecasting

Input Data

Synchronized

TIPS Control Data

from Production

Best available daily volumes & analysis
Current month prices & rates

Information Managed

New Contract / Meter setup
External margin input data
Margin analysis control data

Processes

Smart Data Sync
Current & future month volume extrapolation
Margin Analysis Batch processing
Ethane rejection prediction

Deliverables

Monthly forecasting margin estimate
5-year profit plant estimate (monthly, quarterly, yearly)
Alerts & notifications

Output Data

Extrapolated volumes
Reporting universe data
Other ERP system integration
PTR obligation & liquid entitlement reporting

Why Quorum Forecasting for TIPS Gas Plant Accounting?

The best way to predict what TIPS will do next month is TIPS Forecasting
Improve accuracy and increase the level of detail associated with current and future month forecasting
Leverage existing resource TIPS knowledge
Take advantage of enhanced audit and control data (contracts, meters, etc.) snapshot functionality to monitor configuration differences throughout time and compare data setup across multiple production month
The only forecasting application specifically designed for and integrated with Quorum TIPS
Integrity of design ensures control compliance (e.g. SOX) and support for audit
Support for a variety of pre-configured and ad-hoc reports, as well as business intelligence
A component of Quorum's enterprise wide energy software solution portfolio - can be deployed stand-alone or integrated with other enterprise solutions.

Quorum Forecasting is a module for Quorum TIPS that provides companies greater control and a deeper understanding of their monthly gas plant forecasting process.

Gas plant accounting is a key function of the Transaction Systems business process. Quorum provides other software solutions to support this and other related business processes.

Contact Quorum Business Solutions to learn more about the Quorum TIPS Gas Plant Accounting software solution.

Tags: Midstream Solutions, Oil & Gas Software