The Leading Oil & Gas Accounting Solution

Welland Company and Enerpact Join Forces for Goodrich Petroleum Corporation

NOVEMBER 2017

Goodrich Petroleum Corporation is an independent exploration and production company engaged in the exploitation, development and production of natural gas and crude oil in Eagle Ford, Haynesville and Tuscaloosa Marine Shale.

Goodrich is an industry leader with their innovative business strategy of maximizing the value of their existing assets with the lowest risk and highest potential rate of return. They concentrate their efforts in areas where they can apply their technical expertise and have significant experience.

The critical goals of maximizing cash flow margins and maintaining a conservative capital structure required a top-notch accounting solution with customization capabilities for their unique business structure and needs. It was clear their current Excel based modeling was not sufficient to accomodate the dynamic nature of their industry.

Enter Welland Company and Enerpact.

Welland Company’s EXPORT™ is a versatile tool used to extract data from U2-based systems. The robust software quickly and easily pulls data and translates it into an industry-standard format. This “industry standard” opens the door to much more functionality. Having the data in a SQL-compliant database means it can be easily integrated with other systems for data mining, data warehousing and data web-enabling.

For Goodrich, the best solution for the remaining system needs was Enerpact’s UpStream 360°. Enerpact is the only company to offer a comprehensive range of highly customizable solutions to the upstream oil & gas industry that bridge the silos of accounting, reservoir, engineering, production, land, and financial systems. Upstream 360° connects data from all your E&P systems, enabling a 360 degree view of the business. It is completely compatible with your existing software for accounting, production, engineering, land, finance and reserves management.

“We saw the immense value of moving from an Excel based modeling into Welland/Enerpact software. We sought out an application which would quickly and accurately provide modeling scenarios for our rapidly changing business.”
– Rusty Mondelli, Goodrich Petroleum Corporation

The ease of integration and compatibility between EXPORT™ and Upstream 360° creates a first class solution for Goodrich. It simplifies their modeling process allowing them to focus on their business and be more effective in developing their future strategies.

To learn more about Welland’s product offerings, please contact Mike Mapes at 206-484-2156 or mmapes@welland.com. For more information about Enerpact, visit www.enerpact.com.