September 2011

We hope you had a great summer and had a chance to take a break with family and friends. This issue of the Entero Report includes a number of updates, including company news, fresh functionality, recent projects, upcoming events, and tips/tricks. Feel free to click on the logos below if you wish to be directed to a specific section. As always, Entero values your comments and suggestions. If you would like to share your thoughts or have any content requests, please contact us.

We're Growing!

Entero celebrated 17 years in January. We are growing at one of the fastest rates in our history. We are hiring, and are seeking talented individuals to join our passionate and diverse team throughout our organization. If you (or someone you know) is interested to join a dynamic and innovative team, please visit our Job Bank to learn more about the great career opportunities.

A Great Client and Industry Event - EnteroFest

On June 14th, Entero hosted over 220 clients, partners, service providers, and friends at The Art Gallery of Calgary for a fun evening of industry networking, socializing, and food/beverage tasting. In order to provide everyone with a chance to try something unique, we selected six different restaurants specializing in various international cuisines to serve menu items for sampling. John Gilchrist attended as a special guest and attendees had the opportunity to purchase his new book My Favourite Cheap Eats: Calgary, Banff and Beyond, 2nd Edition.

Stay tuned for details of our next EnteroFest, which is being planned for May 2012.

Sony Reader: Kim Sewall – Insite Petroleum Consultants
Grand Marnier Gift Basket: Melanie McKay – Petrobakken
Sunterra Gift Basket: Jim Stannard – Progress Energy
John Gilchrist book & 2 movie tickets: Jacek Zelazny – Edalis Energy and Joshua Smith – Petrobakken
Clay Oven Gift Certificates: Ingrid Becker – Sparten Exploration, Annette Bowen - Colthurst – MP Energy, and Allyson Franklin – Pennwest

Entero ONE

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There have been many exciting developments with Entero ONE. We now have multiple clients live on both PA and TM – and they are all on the same code base. We have enhanced our stability and functionality, and have made significant progress in the following areas:

Entero Library

Entero ONE is now live with new functionality that was not available in our previous version. The Entero “Library” enables our clients to pull the “resources” they need into their environments. The resources are currently calculations, interfaces and reports. Clients can control what they are entering into their environment, and evaluate the testing requirements associated with each download.

This library allows for deployment of content independent of a full release and also allows for client specific content. It will save a lot of time for our users and provide a more efficient method of getting the required data.

Entero ONE Server

Entero has built an integrated multi-tier application server to provide a more cost-effective option for clients looking to have an environment to run applications. Through our conversations with a number of Entero ONE clients, they have expressed that the available industry options are too expensive, so we have built this server to overcome those concerns and also address performance issues in the future.

Hosting Services

Entero now offers hosting as an option for all clients on Entero ONE and Mosaic. This service is fully secured and protected and is scalable to allow small, medium, and large organizations to host the entire system (schema, data, etc).

Hosting provides added simplicity for companies that don’t necessarily have the skill set in-house. It can significantly reduce infrastructure costs to the client and also reduce Database Administrator time. Every user can access the site, regardless of location. For more information, please contact: Lyne Arbour-Heim or Dean Novak

Entero ONE Production Accounting

Client Updates

E1PA has gone live with a large Canadian midstream company who is looking to have a total of seven properties on the system over the next two months. This client is replacing a legacy production accounting and back office accounting system and partnering with Entero to add Joint Venture functionality. They are also revamping business processes previously done using Microsoft and Oracle capabilities. This marks the first time that E1PA is interfacing to Oracle financials and JIBLink.

On the allocations side, Entero has been working with a large US-based oil and gas E&P company. This organization faced challenges with auditability, lack of security, and reporting. With Entero, they looked primarily for scheduling and invoicing functionality, but after the implementation, they found great value in accounting for their Net Back requirements. The deal entry capabilities in E1 are fast and work well for their team since they do approximately 25 deals/day. In addition to these benefits, this company was able to integrate and model all assets of a large acquisition (with 40 meter stations) in one week – without assistance or any issues.

2011 CAPPA Conference

CAPPA’s “50th Anniversary” conference is being held on November 4, 2011 at the BMO Centre. Entero has been a proud sponsor of this event for the past four years, and we continue to support CAPPA in strengthening the profession of production accounting and providing a forum in the oil and gas industry.

Entero will be exhibiting, conducting live demonstrations, and giving away some great prizes at this event. To learn more about the annual conference, email CAPPA.

Entero ONE Trading & Marketing

New Interfaces

Entero has developed two new industry interfaces to enhance our clients’ efficient use of E1. Rail Trac is an industry standard for railcar tracing information that some of our clients use for monitoring their railcars. Entero has had an interface to Steelroads for many years for the same purpose, so this expands the data sources available to our clients.

Norman G. Jensen (NGJ) is a customs brokerage firm. The interface to NGJ helps automate the custom brokerage process of reporting rail car shipments crossing the US/Canada border by providing the ability to export Entero ONE transaction information in a .csv format to identify the goods and value of the product being shipped.

Client Updates

Three clients are now live on Entero ONE Trading and Marketing. The new platform has helped clients articulate their business processes, create better access to data, streamline operations, and deliver timely information with clarity and accuracy.

In September, we won a project with a large US-based company that is focusing on increasing their profile in the Natural Gas Liquids (NGL) industry. This company was looking to replace an outdated legacy system that had limited flexibility and functionality. They selected Entero ONE because we offer an integrated solution for allocations, trading and marketing, scheduling, and financial management.

The users at this US-based company are excited to leverage E1’s configurable user interface because it provides better data at their fingertips. The functionality and modeling flexibility allows them to put more of their business into a single application and reduce the need for spreadsheets. In addition, this company will use E1 to report and track multi-owners and multi-components so that they can manage third-party inventories before and after spec products. With E1, they have saved time on data entry to focus more on analysis instead. Over the next several months, this company will be increasing their focus on the liquids business and will be partnering closely with Entero for their existing business and growth strategy.

Entero's latest trading and marketing client is a US biofuels company, which is the first biofuels client to go live on E1. This is a very exciting time for us as we work to model our clients’ entire business process without duplicate data entry – while providing real-time information from a truly integrated system.

Over the past several months, Entero has seen tremendous demand for our E1 product. We have responded to this demand by developing improved project plans and accelerating our recruiting to meet the growth. We are anticipating seven E1 implementations to roll-out before Q3, 2012. Read our news release for more information.

Entero Mosaic

Over 100 attendees at the 2011 Mosaic Knowledge Exchange

Our 2nd Annual Knowledge Exchange was another great success – with over 100 people representing 46 different oil and gas organizations. The theme this year was Sustaining Growth and our client presentations focused on ways to develop process excellence across different business functions, such as Reserves Management, A&D, and Planning.

Highlights of the day included:

• Steven Ho from Taqa North shared how to facilitate better communication between Reserves evaluators and Asset teams
• Doug Wright from Perpetual Energy Inc. explained how his process supports achieving corporate targets by actively monitoring capital spending and drilling results to ensure early course corrections
• John Clark from Renegade Petroleum Ltd. and Jennifer Baerg from XI Technologies Inc. demonstrated a proactive approach to find potential acquisitions and how it can lead to strategic growth
• Our keynote speaker David Haugen from Encana presented on business, environmental, and energy security opportunities for increased use of domestic natural gas, and what specific action Encana is taking from an investment perspective.

The ultimate goal of this event remains to provide the energy industry with a forum for networking and exchanging high quality ideas. Stay tuned for next year’s Knowledge Exchange - email marcomm@entero.com if you would like to receive the 2011 presentations or if you have presentation ideas for our 2012 conference.

600 Users and Counting

This month, Mosaic achieved another milestone – we reached 600 users. We see this as a great advantage to our current client base as it means that we will continue to have a growing network of skilled Mosaic users. This is a benefit for companies looking to recruit users that are familiar with the software, and it also provides a way for companies to exchange ideas and share experiences. With a larger user base, it provides our development team with a checklist of prioritized product enhancements, and it also ensures that our product stays competitive in the marketplace.

Release Update

v2010.11 is our latest service release in the 2010 series and is now available. This release includes a variety of smaller updates and fixes for the Fall season. Release notes are available online through Mosaic. Status of specific items can be obtained from Mosaic Client Services.

v2011.2 will be released in November 2011 and will include a variety of updates, with a focus on US-related functionality, performance enhancements, and changes to better facilitate Capital Planning and Budgeting. This release builds on a significant feature set already built out for our 2011.1 version – including new and enhanced data imports, infrastructure for international fiscal models, and numerous new reports. Release notes for the current 2011.1 version are available via Mosaic.

Our ongoing product development is a matter of balancing the creation of entirely new features with a continuous improvement of existing functionality, while listening closely to customer feedback and watching industry trends. We are actively looking for more feedback around Budgeting, Capital Planning and Performance Analysis. If you’re available to chat about this area, please contact Todd Kuipers.

Mosaic Training - You asked. We listened.

We are very excited to announce upcoming changes to our Mosaic training course. Based on client feedback, we will be expanding the course to include an afternoon component that will be entirely hands-on practice scenarios. During these examples, you can get your questions answered by a Mosaic instructor as you gain the experience needed to confidently and productively use the software when you return to your office.

For those with limited time, you can still get the key Mosaic functionality explained and demonstrated by attending only the morning portion of the full day session. However, we would encourage everyone to attend the full day to reap all the benefits of the training, as well as understand the potential of Mosaic.

Course times, dates and registration are available at: /Training/.

FAQ

• How can I display trends for different reserve categories or for my vintage on the same chart as my current reserve?

  Multiple Trend lines can be displayed on a chart at the same time, providing a visual comparison to the current reserve you are working on and any other current or historic reserves. However, in order for this to work, a number of settings have to be activated within the User Settings and on the Trends tab.

  1. Click Tools > User Settings
  2. Click on the Charts tab
  3. Under the Production Chart heading activate:
  4. Include multiple reserves: to include all other reserves for the same working entity on the chart
  5. Include approved entity: to show all the reserves for the approved version of the entity on the chart, (only relevant in Advanced Change Control where you can have a Working and an Approved version of an entity)
  6. Include vintage entity: to show the vintaged versions of the same entity
  7. Click Apply
  8. Click OK

  To display the multiple trends lines on the chart:

  1. Open the entity to display multiple trends for in the Evaluation Workbench
  2. Click on the Volumes > Trends tab
  3. Click off the Show single reserve icon, (defaults to being pressed in)

  If the User Settings are changed, this should display on the screen trends for any other reserves associated with this entity, any reserves attached to an approved version of this entity, and any reserves attached to a vintaged version of this entity. Hovering over the different lines on the chart will show a tooltip indicating which reserve the curve represents. The line styles may be modified in the User Settings on the More Charts tab.

   

Mosaic Budgeting: Tips and Tricks

• A Vintage allows you to preserve a set of Economic Input data and the calculated Results. Economic case results can be locked on Admin > Economic Cases > Locking tab. Vintages are created by an administrator using Admin > Change Control > Create Vintage.
• In order to create a vintage, all entities must be set to Approved. The fastest way to do this is to set the Company and Category filters to blank, and set the Filter to Working. Right-click on the Total folder and select Approve.
• To create duplicate reserve categories for all entities, in order to copy PDP to Base, or Base to Base + Growth, go to Admin > Entire Database Maintenance > Duplicate Reserves.
• The default reserve categories may be renamed to represent the terminology within your organization. To complete this go to Admin > Reserve Category Labels.
• Many reports can be run on wedge reserve categories. In other words, the difference between two reserves can be determined at reporting time. This means that if you have a Base category and a Base + Growth category defined for an entity, some reports can calculate the Growth category. Any report that shows the entire reserve category grid during the report option settings will do wedge calculations (as opposed to report option settings where the reserve category is selected via a drop down box)
• Hovering over a report name in the Reports dialog (Reports > Run a Report...) will display a preview of the report. This may be turned on by using the toggle Show Report List Tooltip on the Tools > User Settings > General tab.
• Many different values, such as operating costs, may be changed for multiple reserves at the same time. To do this, select the entities in the workbench. Change the desired value, and ensure that you click the Apply button on the tab. This will then trigger the entity to need to be saved. If you do not click Apply, the changes will not take effect.