August 30, 2014 2:21 PM ET

Software

Company Overview of Quorum Business Solutions, Inc.

Company Overview

Quorum Business Solutions, Inc. develops and provides software solutions and services to manage operational, administrative, financial, and transactional business processes for oil and gas, renewable energy, and natural resource industries. It offers TIPS (Gas Plant Accounting) for managing commercial and operational aspects of natural gas processing plants; Quorum Land Management, a land and lease management/geographic information services (GIS) solution; and Quorum Pipeline Transaction Management, a gas pipeline transaction management solution for interstate and intrastate pipelines, gathering facilities, and local distribution companies (LDCs). The company also provides energy software se...

811 Main Street

Suite 2000

Houston, TX 77002

United States

Founded in 1998

Phone:

713-430-8600

Fax:

713-430-8697

Key Executives for Quorum Business Solutions, Inc.

Chief Executive Officer
Founder and Chairman
Founder and Chief Technology Officer
Executive Vice President
Executive Vice President
Compensation as of Fiscal Year 2014.

Quorum Business Solutions, Inc. Key Developments

Quorum Business Solutions, Inc. Updates Quorum Pipeline Transaction Management System to Support NAESB 2.0

Quorum Business Solutions, Inc. announced that its popular Quorum Pipeline Transaction Management (QPTM) software solution is now updated to address the latest North American Energy Standards Board (NAESB) standard - 2.0. QPTM is software solution used by natural gas pipeline and storage facility operators to manage transactions with their shippers, including contracts, scheduling, nominations, allocations, billing and accounting. QPTM is currently in use by 15 facility operators, managing over 60 pipeline and storage facility assets. Regulated natural gas pipeline and storage facility operators are required to comply with the latest NAESB 2.0 standard on December 1, 2012. With the availability of this new update to QPTM, Quorum's regulated Clients will be able to meet this compliance deadline. A number of QPTM Clients are already underway with deployment of this new QPTM update in preparation for the December 1, 2012 deadline. Quorum employs a unique approach to ensuring that its software solutions remain compliant with constantly evolving regulatory requirements. Through participation in Quorum's Software Release Program and User Group, QPTM Clients work with Quorum to determine specific software updates necessary to ensure regulatory compliance. Quorum has a demonstrated track record of providing timely software updates to address each new NAESB standard. With the cost of software updates shared among multiple QPTM Clients, the financial impact of complying with a constantly evolving regulatory environment is dramatically lower than costs faced by operators utilizing other software systems. Highlights of the QPTM software updates related to NAESB 2.0 standard changes include: Additional standards involving removal of Operationally Available and Unsubscribed dataset, replaced with Operational Capacity and Unsubscribed Capacity datasets; Modifications to Capacity Release and Transactional Reporting: Interruptible Transportation datasets; Support for sending multiple notice types with a single system-wide notice; and Standardization of code values to align with NAESB 2.0 updates.

Quorum Business Solutions, Inc. Announces Relocation of its Houston Headquarters

Quorum Business Solutions, Inc. announced the relocation of its Houston headquarters. Effective October 15, 2012, Quorum has relocated to BG Group Place at 811 Main Street, Houston, TX. Quorum has leased 2 full floors, with over 53,000 square feet in this facility. This relocation is in response to Quorum's significant continued growth. Houston is Quorum's headquarters location, with additional offices in Dallas, TX and Calgary, AB. Quorum now employs over 225 energy software professionals at its Houston location, with over 350 employees overall. The new facilities represent a significant increase in capacity over Quorum's previous Houston office space.

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Recent Private Companies Transactions

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Date
Target
Merger/Acquisition
July 14, 2014
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