Software solutions provider Oildex and US-based Quorum Business Solutions have launched Gas Plant Data Exchange (GPEX) to facilitate the distribution of data from processors to natural gas producers
According to Oildex, GPEX serves as a secure online exchange platform for sharing gas plant statements more efficiently between processors and producers.
Richard Slack, CEO of Oildex, said, “Currently, the process for distribution and consumption of data is cumbersome and involves significant manipulation. GPEX streamlines this process, offering significant benefits to both processors who generate gas plant statement data and producers who receive and consume this data.”
Slack revealed the benefits of GPEX, which includes — reduced turnaround time, improved accuracy, minimal manual intervention, fewer prior period adjustments and increased data visibility.
Perry Turbes, CEO of Quorum Business Solutions, added, “Many companies involved in gas processing have been looking to increase efficiency in distribution and consumption of gas plant statement data. By partnering with Oildex in the creation of GPEX, we have addressed that requirement of our clients with numerous tangible benefits.”
Turbes noted that the processors would publish gas plant statements to GPEX and producers would subscribe to their relevant gas plant statement data. “As a result of decreased manual efforts, producers can more effectively allocate time and resources for efficient data analysis,” he said.
Slack added that GPEX would help processors and producers streamline their manual, paper-based processes and help them gain improved efficiency and better visibility into their critical revenue information.
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