SolArc Acquires Trinity Apex Solutions
Houston - Energy software provider SolArc, Inc. has acquired privately held Trinity Apex Solutions, Inc. of Dallas, a developer of software systems for natural gas producers and marketers. Terms of the transaction were not disclosed.
"The proven strengths of the Trinity Apex solution in providing full commercial management of natural gas from the wellhead to burner tip, combined with SolArc's leading edge trading, physical product handling and risk management capabilities, enables us to provide customers with a world class solution for the entire natural gas value chain," said SolArc CEO Brad Anderson.
Natural gas producers must manage significant operational and market risk at dozens of points in the production-transportation-marketing process. However, a recent evaluation of software applications for natural gas by UtiliPoint International identified potentially serious gaps or inadequacies in the systems offerings of major software providers in the areas of credit risk management, contract management, storage, inventory management and wellhead accounting. "Adding the Trinity Apex capabilities to SolArc's natural gas solution will fill those gaps and support the requirements for managing the gas value chain from a producer's perspective," Anderson said.
Trinity Apex founder Richard Couron and the company's team will join SolArc to focus on integrating the TIES (The Integrated Energy System) software into SolArc's RightAngle for Natural Gas, as well as continuing to support their existing TIES customers.
"The increasing integration, volatility and competitiveness in the natural gas industry puts a premium on having robust solutions for wellhead accounting, owner balancing, division and transfer of interest, and royalty payments, as well as seamless integration with scheduling, nominations, trading and accounting," Couron observed. "The combination of Trinity Apex with SolArc means we will be able to provide the leading enterprise trade management solution for the natural gas, liquid hydrocarbon and coal value chains," he added.
SOURCE: SolArc, Inc.