Tag Archives: Oil And Gas

A Case Study on Enterprise Risk Management: Allstate Inc.

In 2000, The Allstate Corporation started on an exciting and uncharted new course: to become an early insurance industry adopter of enterprise risk management (ERM). It has been a complex journey that has helped provide a deeper insight into the company’s underlying risk profile, enhanced the way Allstate manages risk in several significant ways and helped generate actions to better exploit risk opportunities.

The company’s initial effort began some years earlier at the direction of then-CFO, Tom Wilson, who established new capital allocation and valuation models for use in the finance function. Later, as Wilson moved into an operating role, John Carl joined Allstate as CFO and asked his staff what the company’s risk-adjusted returns were. A series of conversations resulted in a decision to explore developing a more quantitatively rigorous approach to measuring risk, similar to what was practiced in the oil and gas industry. Click here to read more…

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Case Study on Cano Petroleum Inc

Kaseya has empowered IT operations to run more smoothly. Tasks that took hours or days before now just take moments. That results in fewer interruptions to the business; allowing thecompany to focus on business objectives rather that a “tech”taking up their workday installing patches and upgrades.
– Jon Morgan, Manager of Information Technology, Cano Petroleum.

As a publicly traded oil and gas company, Cano Petroleum, Inc. must comply with the Sarbanes-Oxley Act of 2002, reliably accounting for all revenue streams and corporate expenditures in an effort to ensure transparency throughout the accounting process. The company uses innovative technology to extract additional oil and gas from mature fields throughout Texas, New Mexico and Oklahoma, necessitating the need to centralize compliance efforts through its headquarters in Ft.Worth.

For the IT department, ensuring SOX compliance means being able to account for all IT assets, making sure systems are maintained regularly and consistently, protected from malicious security threats like spyware and viruses, backed up properly and can be recovered easily in case of data loss. Cano also has to ensure that help desk issues are dealt with accordingly, corporate resources are not being used for personal use (within reason) and the company is in compliance with the software licensing agreements it has in place with vendors. Read more on Cano Petroleum Inc

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Case Study on LMKR

LMKR provides mobile technology solutions, data services, geoscience and data management consulting solutions to oil and gas operators, geoscientists and investors in order to lower the risk associated with unconventional oil and gas exploration and production. To power its GeoGraphix® Discovery™ Suite, the industry’s most complete and integrated Windows-based geology and geophysical system, LMKR needed a robust, scalable, low maintenance, high performance and affordable relational database. After evaluating multiple options, it selected SQL Anywhere®, which has proven to be a very wise business decision. Read more about LMKR

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Case Study for Crowcon

Formed in 1970, Crowcon Detection Instruments Ltd develops and manufactures reliable flammable and toxic gas detection equipment for the protection of people and plant against gas hazards. Crowcon devices operate in a host of environments including the oil and gas sector where detection devices are subjected to a range of climate and industry conditions including moisture and salt spray build up. It is therefore crucial that performance and operation are not compromised at any stage. Read further on Crowcon

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Case Study for Imdex Ltd

Background: Imdex Limited (Imdex) is a Western Australian company (ASX:IMD) which provides drilling fluids and leading down hole instrumentation to the mining, oil and gas, water well and civil engineering industries worldwide. The company has a presence in all significant mining and exploration regions, and has the global profile and resources for extended future growth. Imdex has streamlined its business into two operational divisions, the Drilling Fluids and Chemicals (DFC) Division, and the Down Hole Instrumentation (DHI) Division…

The challenge: With the business growing rapidly, both organically and through strategic acquisitions, it became increasingly challenging to consolidate data with multiple time zones, currencies and ERP/finance systems efficiently. “The reporting process was becoming more time consuming each month with finance personnel across the five continents using a number of different input methods,” said Harvey Farrington, Imdex’s Commercial Finance Manager. “The Group researched a number of options, however they did not provide the same business benefits and the costs were significantly higher than the PROPHIX solution.”
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Case Study on Decmil Group Ltd

Decmil Group Limited (DGL) formerly Paladio Group Limited, is an Australian-based provider of industrial integrated solutions and services. The company through its subsidiaries focuses on providing design, civil engineering, and construction works. In addition, it also provides consulting, drafting and engineering services.

The company also designs and constructs permanent and temporary accommodation including villages, residential homes, and units, besides offering design, site preparation, excavation, bulk earthwork, civil work, and construction services. DGL caters to oil and gas, infrastructure, and resources sectors in Australia. Its key subsidiaries include Decmil Australia Pty Ltd, Eastman Fort Pty Ltd, and Matrix Engineers Pty Ltd. DGL is headquartered in Western Australia, Australia.
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[youtube http://www.youtube.com/watch?v=7L14jMjOHUk&w=640&h=360]

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Case Study on Austin Exploration Limited

Austin Exploration is engaged in the acquisition, exploration, development and production of onshore oil in the US and Australia. The company controls more than 11,000 acres in Colorado in the Niobrara Shale and more than 5,000 acres in Texas in the Eagle Ford Shale. Austin Exploration has producing oil and gas wells in Texas, Mississippi and Kentucky. The company also has prospective oil and gas license, PEL 105, in the Cooper Basin of South Australia. The company primarily operates in the US and Australia. It is headquartered in Melbourne, Australia. Click here to read more…

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Case Study on Antares Energy Limited

Antares Energy (Antares) is an oil and gas exploring company which is involved in the activities of exploration, production, refining and marketing of oil and gas. The company has three core projects being Southern Star, Big Star and Northern Star each located in the Wolfberry Trend of the Permian Basin. The company primarily operates in Australia and the US. It is headquartered in Perth, Australia. Click here to read more…

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Case Studies on Talisman Energy Inc.

Talisman Energy is the largest Canadian oil and gas producer, with main business activities in exploration, development, production and marketing of crude oil, natural gas and natural gas liquid. At a special board of directors meeting, the management and board of Talisman conducted a review of the Sudan operations to assess its fit within the current business portfolio.

After years of direct and often angry criticism by human rights groups and the fact that the United States government was threatening to restrict firms operating in Sudan from listing their securities on American markets, the board was considering its options in the region. The Sudan project had good economic value for Talisman with good future prospects and production possibilities. Click here to read more…

Case Study on Clover Industries Ltd

Clover Industries specializes in the design and manufacture of single-stage and telescopic hydraulic cylinders, piston accumulators, and intensifiers for the oil and gas, military, industrial, and construction markets. The company has built a strong reputation for superior performance and sophisticated products, including the use of advanced coatings and materials. Read more..

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