CHESAPEAKE ENERGY SELECTS OILDEX SPENDWORKS ePAYABLES SYSTEM
Leading Natural Gas Producer Employs New Tool to Lower Operating Costs and Access Expense Information
DENVER and HOUSTON − January 17, 2006 - Oildex, a Transzap, Inc. service, the energy industry's leading digital data exchange and ePayable service today announced that Chesapeake Energy Corporation (NYSE: CHK) has selected the Oildex Spendworks system to streamline its accounts payable process. Chesapeake Energy is the second largest independent producer of natural gas in the United States and is the most active driller of new oil and gas wells.
The Spendworks ePayables system simplifies the tasks of purchasing and paying for goods and services for companies in the oil industry. The paper-free system reduces process costs and boosts productivity, while providing in-depth information enabling companies to analyze costs and identify areas for strategic improvement and growth. Spendworks enables companies to absorb growth while maintaining an operational edge through efficiency.
Transzap CEO, Peter Flanagan said, "Chesapeake joins a growing number of industry leaders who realize the importance of cutting costs, managing growth and tracking business performance by employing the Spendworks electronic payable system. Understanding Chesapeake's commitment to operational excellence, we look forward to helping the company implement the highly efficient Oildex Spendworks process."
About Oildex
Transzap™ simplifies financial and operational processes by replacing paper-based tasks with digital data and workflow. The web-based software also provides unparalleled access to information about how and where a company spends its money. Through its Oildex services, Transzap provides one of the energy industry's largest Internet-based data exchanges serving over 1,000 companies and 10,000 users. Currently available commercial services include: digital and scanned invoice processing with Business Intelligence (Spendworks™), owner/producer relations data posting, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect™). Oildex has offices in Denver and Houston. This news release and additional information are available: http://www.transzap.com | http://www.oildex.com.
For additional information, please contact:
Karey Goebel
Marketing Director
Transzap, Inc.
Office: 303-222-6116
Email: kgoebel@transzap.com | kgoebel@oildex.com
DENVER and HOUSTON − January 17, 2006 - Oildex, a Transzap, Inc. service, the energy industry's leading digital data exchange and ePayable service today announced that Chesapeake Energy Corporation (NYSE: CHK) has selected the Oildex Spendworks system to streamline its accounts payable process. Chesapeake Energy is the second largest independent producer of natural gas in the United States and is the most active driller of new oil and gas wells.
The Spendworks ePayables system simplifies the tasks of purchasing and paying for goods and services for companies in the oil industry. The paper-free system reduces process costs and boosts productivity, while providing in-depth information enabling companies to analyze costs and identify areas for strategic improvement and growth. Spendworks enables companies to absorb growth while maintaining an operational edge through efficiency.
Transzap CEO, Peter Flanagan said, "Chesapeake joins a growing number of industry leaders who realize the importance of cutting costs, managing growth and tracking business performance by employing the Spendworks electronic payable system. Understanding Chesapeake's commitment to operational excellence, we look forward to helping the company implement the highly efficient Oildex Spendworks process."
About Oildex
Transzap™ simplifies financial and operational processes by replacing paper-based tasks with digital data and workflow. The web-based software also provides unparalleled access to information about how and where a company spends its money. Through its Oildex services, Transzap provides one of the energy industry's largest Internet-based data exchanges serving over 1,000 companies and 10,000 users. Currently available commercial services include: digital and scanned invoice processing with Business Intelligence (Spendworks™), owner/producer relations data posting, check stub reporting (CDEX), crude oil data exchange (CODE), gas data exchange (GRADE), production and sales volume reporting and joint interest billing (JIB Connect™). Oildex has offices in Denver and Houston. This news release and additional information are available: http://www.transzap.com | http://www.oildex.com.
For additional information, please contact:
Karey Goebel
Marketing Director
Transzap, Inc.
Office: 303-222-6116
Email: kgoebel@transzap.com | kgoebel@oildex.com