P2 Energy Solutions Announces That Maritech Resources Inc. Chooses To Implement Enterprise Land 2.5

Houston, TX - P2 Energy Solutions, the leading provider of business software to the oil and gas industry, announces that Maritech Resources, Inc., based in The Woodlands, Texas, has chosen to implement Enterprise Land 2.5.

Enterprise Land is the upstream industry's first application built for the enterprise completely using a services oriented architecture (SOA). The modules are component-based and loosely coupled. Therefore, customers gain tremendous flexibility in how functionality is configured, deployed, accessed and integrated with other applications. Additionally, users are able to call up pieces of functionality as a Web service. The solution offers user-level customization capabilities related to forms, fields, processes and validations as well as integrated workflow and alert capabilities; all while maintaining detailed audit trails. Enterprise Land enables companies to radically re-think how they capture, manage and distribute land asset information throughout their organization.

Maritech is a subsidiary of TETRA Technologies, Inc. that has experienced substantial growth in recent years. As such, they were at the nascent stage of core IT system implementation, in particular land management. Jay Brown, Enterprise Applications and Data Manager, Maritech Resources, Inc. states, "At Maritech, we were accessing disparate applications to manage our integrated and complex business processes. We needed a land management system architected in such a way that it could integrate with both legacy and future systems. In selecting Enterprise Land our goals are to fully integrate and automate the processes that involve the timely payment of delay rentals, royalty payments and shut-in payments for oil and gas leases; manage future data conversions related to acquisition growth; track contractual obligations associated with joint operating agreements and farm-out agreements; and automate auditing, reporting and SOX compliance."

Mr. Brown continues, "With many unknown factors affecting long term oil and gas business strategies, we recognized that SOA offered the best chance of harnessing the level of functionality and flexibility required to meet potential challenges and opportunities. This realization also fits with Maritech's ethos of selecting IT solutions based on long-term strategic goals."

Mark Eikermann, senior vice president of development, P2 Energy Solutions, comments, "Maritech benefits significantly from the Enterprise Land implementation because the software is designed specifically to provide greater visibility, clarity and accuracy to the management of oil and gas land assets. Utilizing the full suite of modules, Maritech will gain advantage through an improved strategic decision process and by managing land-related processes in a more integrated and efficient manner."

Tarig Anani, president, P2 Energy Solutions, states, "We are very excited to be partnering with Maritech in the delivery of P2 Energy Solution's first Enterprise Land go-live project. Maritech is a growing, vibrant and extremely agile company that will fully exploit the flexibility and scalability of Enterprise Land. P2 Energy looks forward to supporting Maritech in their future growth and development plans."

SOURCE: P2 Energy Solutions Inc.