WolfePak and Oil & Gas Business Solutions together offer O&G accounting and process expertise
ABILENE, Texas, June 6, 2019 – WolfePak Software, a leading provider of accounting, regulatory compliance and automation software for the oil and gas industry, and Oil & Gas Business Solutions, Inc. (OGBS), a Dallas based firm providing the back-office personnel, systems and processes for new or existing oil and gas companies, announced today the signing of a formal Service Provider Agreement that establishes OGBS as a preferred partner that delivers outsourced back-office operations using WolfePak software for oil and gas companies. The agreement also enables OGBS to deliver WolfePak implementations, conversions and training.
As a preferred partner, OGBS has access to the entire suite of WolfePak Software, allowing them to deliver customized oil and gas bookkeeping and back office services that streamline operations for the upstream sector, including independent operators, oil and gas investors, royalty management and trust and energy investment brokers. Those services include using WolfePak Software to manage accounts payable and joint interest billing, revenue entry and distribution, financial and operational reporting, production allocation and filing as well as other bookkeeping and control functions.
As part of the agreement, OGBS will leverage the WolfePak Cloud to deliver its bookkeeping services in a secure, SOC 1 Type 2 compliant and highly available environment, which provides additional security for OGBS client data and ensures 24×7 availability and support for OGBS and its customers. This environment capitalizes on the extensive online access OGBS already offers its clients to data, reporting, project status and applications.
“WolfePak and OGBS have worked together for several years, and this agreement takes the next step in formalizing an already successful partnership. Our combined offerings provide turnkey accounting and operations solutions for companies seeking industry-leading oil and gas software packaged with customizable outsourced services,” said Brent Rhymes, CEO of WolfePak Software. “Having preferred partners like OGBS allows WolfePak to scale our implementation and conversion services to keep pace with our rapid growth and deploy our software and services on time, while still adhering to our standard level of high quality.”
Built by oil and gas accountants, WolfePak accommodates the unique requirements of oil and gas accounting and operations. It compiles, connects and integrates the multitude of data points oil and gas accounting, revenue distribution, billing, production management and more require. OGBS has developed a standard library of process flows and control points that consume and use the data WolfePak provides. OGBS customizes and documents these procedures for each client’s unique operations, with WolfePak serving as the one system of record for each client. WolfePak Software and OGBS together provide a complete solution for oil and gas companies looking to outsource its bookkeeping, accounting and back office operations, allowing independent operators and investors to focus on those critical operations that fuel growth in their business.
“Our oil and gas expertise combined with WolfePak Software allow OGBS to deliver services that streamline our clients’ operations and allow them to move their focus from data entry processing to those operations and functions that affect profitability,” said Tom Black, President of Oil & Gas Business Solutions, Inc. “OGBS takes on the responsibility of staffing, training and managing the accounting function while maintaining the constant and immediate communication expected from a full-time employee. WolfePak’s reporting capabilities allow us to easily make this standard a reality for our clients.”
About Oil & Gas Business Solutions, Inc.
Oil & Gas Business Solutions, Inc. (OGBS) provides personnel, systems and processes to jump start a new or existing oil and gas back office. Our teams of experienced accounting and back office staff can manage a complete turnkey solution or provide depth and breadth for specific client needs. For over twenty years we have delivered personalized and dependable financial, operational, and bookkeeping services to the upstream energy market. Whether a private equity funded start up or family office our customers span the breadth of the oil & gas business from operators to investors, trusts and brokers ranging across every active basin and state in the US. For more information on the services we provide and the industry we serve, visit www.ogbs.biz.
About WolfePak Software
WolfePak Software offers a fully integrated suite of software products for oil and gas upstream and midstream customers, including exploration and production well operators, crude oil purchasers, transporters, haulers, investors, CPA firms and service companies. Located in Abilene, deep in the heart of the Texas oil patch, WolfePak serves customers throughout the United States and the world. With its staff of experienced software developers, CPAs and oil and gas professionals, WolfePak has provided best-of-breed accounting and automation software and services since 1986. For more information, please visit www.wolfepak.com.
Oil & Gas Business Solutions, Inc.