WellPoint Systems' Blog

We are still seeing a nice spike in website hits, as well as inbound inquiries for BOLO, Energy Broker (in some cases we are seeing companies looking at both), and others looking to learn about the variety of solutions under the WellPoint Systems umbrella. The pipeline will continue to grow as we further qualify and penetrate these interested companies.

The BOLO sales team made it down to Dallas this week for a couple of days at the A & D Strategies and Opportunities Conference. BOLO was the only software vendor who had a booth at this show, and it was vital for name recognition. This conference was different than others in that the attendees are generally at a very high level in their organization. Lots of CEO’s, CFO’s, and VP’s looking to make a play for their next lease acquisition, and others looking to sell off interests.

There was a very wide range of opinion regarding the outlook of oil and gas for 2010. Some feel that Natural Gas Prices will settle in at less than $3 per MMBtu, due to the abundance of Natural Gas here in the US – One quote that I do recall offhand is that “The US is to Natural Gas, what Saudi Arabia is to Oil”. Others felt that this was a down year, and have projections of Gas increasing all the way to $7.50 for MMBtu. I tend to be a glass half full kind of guy, and one line that really resonated with me was that “Oil prices dropped 76% in a 3 month period” earlier this year. My first thought was, if this happened in any other industry, the word “bailout” would be thrown around. But this industry was able to adapt, and now sustain. As we have seen recently, oil prices have settled into the $60-$80 per barrel range, proving that consistency and stability may have returned, even already.

While attendance was down in comparison to previous years, we were still able to have high level conversations with executives at target companies, and of course, have a chance to chat up with our existing clients in a relatively relaxed setting.

For example, I had a chance to chat with Tom Bandy (That is Bandy, not Brady – some of you must really have football on the brain, jeesh) of Blue Tip Energy, a friend of Chris Dinkler’s back at their Production Access days. Tom came up to me at the BOLO booth and mentioned that the Blue Tip team are huge fans of BOLO. Tom works in a variety of roles at Blue Tip – investor, IT guy, advisor and more, and he said that even though he is not using the system on a regular basis, he knows that it must be a great system for them, because, well, he never hears any complaints about it – and if they did not like it – he certainly would be hearing it. Steve Miller, the controller there, as well as Troy Hatler, who both use the software on a daily basis confirmed that it is a great system for them, emphasizing the ease of use, ability to quickly generate reports, and the willingness of Customer Care to assist them…even when the reason for the call into CC might be due to a user error.

This entry was posted on Friday, September 4th, 2009 at 2:25 pm and is filed under Oil & Gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.