An Interesting Recent ETRM Deal…
Quorum Business Solutions, better known as Quorum, is clearly a leader in the upstream oil and gas space. Their TIPS gas plant accounting system has been a mainstay of the marketplace for years. Their products covering land management, division order management, production accounting and other E&P activities have been extremely successful and have fueled tremendous growth for the company over the last decade.
Several years ago they also entered into the ETRM market with their gas marketing application Quorum Gas Marketing. After a flurry of sales, they’d gone pretty quite as far as the product is concerned. However, a couple of weeks ago, they announced a new sale of Quorum Gas Marketing to Mustang Fuel Marketing, an Oklahoma based company involved in gas and oil exploration and production, natural gas gathering and processing, and natural gas marketing.
Does this signal a resurgent push for the product and increased competition in the E&P ETRM market?
UPDATE: And the answer to the somewhat rhetorical question is “yes“. One of the nice things about this blog is that it can help elicit even more information. I’ve heard from an industry contact that Quorum has closed several other unannounced deals for the product this year. Despite not being loud about it in the market, it appears the company has indeed been having solid success with Quorum Gas Marketing.