Oildex Achieves Key Business Milestones in 2017

Focus on product innovation and customer success gives the company huge momentum entering 2018

February 1, 2018 – DENVER – Through 2017, Oildex continued to drive product innovation and invest in key acquisitions that strengthen the company’s overall portfolio of source-to-settle, digital data exchange and owner relations solutions for the oil and gas industry. The company added 137 new customers and 7,392 new suppliers across the entire Oildex Network, helping these organizations seamlessly and securely collaborate with their business partners, automate key business processes, eliminate the high cost and errors associated with paper, and use data to make more informed business decisions.

“2017 was a fantastic year of growth for us as we added new technology solutions to our growing portfolio, delivered innovation around our existing portfolio and welcomed new customers into the family,” said Craig Charlton, CEO of Oildex. “As the oil and gas industry continues to embrace the digital revolution, this success gives us huge momentum entering 2018 as we continue to innovate around both products and services to help our customers maximize efficiency and effectiveness.”

Key Oildex 2017 milestones include:

  • Organic Customer Growth: Oildex added 137 new customers for OpenInvoice, Field Ticket, Supplier Link, Revenue Detail, Call Center, Run Ticket, Gas Plant Statement and Oilfield Services Suite (OSS; formerly Phoenix DAS). The company also welcomed 7,392 new suppliers to the Oildex Network.
  • Record-Setting Q4 Customer Go-Lives: Oildex established new quarterly records in Q4 2017 with 17 OpenInvoice go-lives, 12 new and enhanced Owner Relations portal go-lives, three Owner Relations Call Center go-lives and 15 OSS go-lives.
  • PDS Energy Asset Acquisition: The addition of PDS Energy assets makes Oildex the preeminent financial digital data exchange network for the oil and gas industry, as well as the industry’s leading provider of end-to-end owner relations services.
  • Phoenix DAS Acquisition: The acquisition of Phoenix DAS gives Oildex a comprehensive portfolio of source-to-settle software for oilfield service providers. This is a major step toward the company’s vision of an Always-On Supply Chain for the oil and gas industry.
  • OpenInvoice Supplier Link: Supplier Link integrates QuickBooks and other accounting platforms with OpenInvoice, eliminating double invoice entry, saving service providers time and reducing time to pay by eliminating errors and disputes.

About Oildex
Oildex is transforming the way the oil and gas industry connects, collaborates and automates. More than 250 operators, 67,000 service providers, dozens of financial institutions and millions of mineral rights owners in North America use the Oildex Network to seamlessly and securely collaborate with their business partners, automate critical business processes, eliminate the high cost and errors associated with the handling of paper, and obtain access to key data to make more informed business decisions. Oildex is headquartered in Denver and has offices in Houston; Calgary; Austin; Fayetteville, Arkansas and Tennessee. Learn more about Oildex at http://www.oildex.com.

Contact:
Andy Prince
Public Relations
(512) 289-4728
andy.prince@oildex.com