Tag Archives: Sox Compliance

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 for C & J Energy

C&J Energy, a Houston-based oilfield services firm, has experienced a major growth spurt over the last year and a half. Since the beginning of 2011, the company has grown from approximately 400 employees to over 1,850, and continues to add about 100 employees per month. At the time of C&J Energy’s IPO (on July 29, 2011, the company’s stock began trading on the NYSE under the symbol “CJES”), the company’s IT infrastructure was 100 percent outsourced to a managed service provider (MSP).

But given its explosive growth and near-term plans to continue doing so, coupled with the necessity of Sarbanes-Oxley (SOX) compliance, the company decided to build an internal IT team, starting with the hire of Bill McCown as the Director of IT. As McCown quickly discovered upon his arrival, the effectiveness of the company’s current solution was deteriorating as rapidly as the company was growing—the high cost of the solution was matched by a slippage in service and a complete disconnect between the business and its IT functionality. Get more information on C & J Energy

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