Canadian Oil Firms Find “Single Source of Truth” With Enverus

Canada Trading and Risk
byWendi Orlando

We are proud to work with so many companies that are part of Canada’s $110 billion-a-year oil and natural gas industry. There are Enverus Trading & Risk customers involved in all facets of extracting, processing, and delivering liquid petroleum products from the country’s underground reservoirs and vast oil sands to customers all over the world. In fact, Canada is the largest source of U.S. crude oil and refined products imports. But no matter what these customers do, they all share a common need for what Enverus provides—a centralized system for the management, analysis, and use of the enormous volumes of information they collect every day.

I recently had the opportunity to leave my desk in our Houston office for an extended trip north to visit with five of our Canadian-based customers. They include major petroleum producers, processors and transporters, utilities, and energy procurement advisory services providers. Each one has its unique business challenges and opportunities, but when I summarized my conversations, I noticed one phrase kept reappearing, “A single source of the truth.”

I listened to executives from our customers’ front, middle, and back offices describe the critical role the Enverus Trading & Risk platform plays in their Enterprise Data Management (EDM) strategies. Of course, they’re always striving to introduce new efficiencies, such as automating price aggregation, or scraping data from spreadsheets and uploading it to their energy trading and risk management (ETRM) software solutions.

One opportunity that came up during all of my client meetings was streamlining their processes for calculating and submitting forward curves. This didn’t come as a surprise to me.

Any delays in the curve process can place a company at a significant disadvantage to competitors that are able to process their curves in real-time. Relying on manual workflows, such as updating enormous Excel spreadsheets becomes a complex, time-consuming, and error-prone process that fails to deliver accurate forward curves in a timely manner to traders, risk managers, and other users.

That’s why all five companies have either started using Enverus curve building solutions, or plan to in the near future.

The Enverus Trading & Risk MarketView CurveBuilderRT™  forward curve application provides real-time curve processing, in-depth auditing, curve validation, and a centralized dashboard to create and deliver millions of real-time curves every day in a controlled and fit-for-purpose environment.

Some are looking to offload the building of complex curves to Enverus, which makes our CurveBuilder offering more appropriate for their needs.

Enverus CaaS is a fully managed forward curve building service designed specifically for energy and commodity companies. It automates the collection of input data, includes the user’s business logic, runs the curve calculations, and distributes the curves to the user’s desired target system in real time. The entire process is overseen by the Enverus global Managed Services team that has 10 years of curve-building experience and produces more than 10 million curves every day.

If I sat down for a meeting with you and your team, would forward curve management be one of your priorities too? If so, please don’t hesitate to contact me via email: [email protected] or on LinkedIn.

You can also follow these links to learn more about Enverus Genic CurveBuilder™ and Genic DataManager™, our intelligent, next-generation data management solution, which are both part of the Enverus DataGenic Product Suite:

Wendi Orlando

Wendi Orlando

VP of Product Management, Enverus Trading & Risk. Wendi is passionate about taking a “customer-centric” approach to product management which drives business growth and contributes to a successful organization. Wendi is a Houston native with more than 20 years in the energy industry. Prior to joining Enverus, she worked for Occidental Petroleum, Apache Corporation, and Openlink Financial. She has expertise in the entire energy value chain, including producer services, scheduling, trading, and accounting. Additionally, she has deep experience in consulting, product management, go-to-market, and customer satisfaction.

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