“Our integrated suite of cloud-based oil and gas software solutions eliminates time consuming manual data entry, paper-based processing and inefficient follow up”: Oildex

Oildex offers premier cloud-based oil and gas accounting software with workflow automation and electronic document exchange designed specifically for the oil and gas industry. Powered by an extensive community of suppliers, owners and operators, its easily adopted accounting software leverages unsurpassed industry expertise and service quality enabling customers to improve operational efficiency, have better visibility into cash management and create more profitable business relations in Accounts Payable, Revenue and Owner Relations.

Gliding through the History

Transzap, the parent company of Oildex, provides software solutions that significantly improve the flow of business information as well as operational efficiencies for companies in the North American oil and natural gas industry. Through its suite of energy industry software-as-a-service (SaaS) solutions, Oildex enables companies to collect, distribute, manage, and analyze essential business data – far more efficiently and faster than traditional desktop software systems.

In addition, Oildex’s SaaS services offer oil and gas companies, their partners, and suppliers a community and framework for carrying out business over the Internet, resulting in substantial savings from no longer having to exchange core operating and financial information manually.

Since its inception in 1999, Oildex’s SaaS system has grown to become one of the largest and most relied upon web-based information exchanges in the oil and natural gas industry. Today, it serves more than 7,900 companies/clients and 130,000 registered users. Clients include all major oil companies, hundreds of independent oil and gas producers, the world’s largest banks and over 1,300,000 royalty and working interest owner connections.

Glimpses into the Solutions and the Services

Oildex’s solutions provide better and faster visibility into cash management, enabling executives to make quicker and more informed strategic, capital decisions. Oildex also provides a critical interface between the operator, supplier and owner that, besides saving time and money, helps create more profitable business relationships. Oildex is one of the largest and most relied upon web-based information exchanges in the oil and gas industry because of its dedication to provide innovative and effective oil and gas software solutions.

Automate the Exchange of Gas Balancing Data

Oildex’s gas balancing exchange, GRADE, delivers electronic statements for faster visibility into your revenue data. It provides fast access to gas balancing statements. With Gas Balancing exchange, operators receive, verify, cross-reference and upload their information electronically, saving time & money.

Gas Balancing uses the industry’s trusted GRADE standard that provides businesses with the ability to import gas balancing data into their accounting or ERP system. Companies can also download data directly into a spreadsheet.

With Oildex, revenue accounting can eliminate the need for time-consuming, manual, paper-based processing. Additional benefits of handling gas balancing data through Oildex include:

• Simplified data entry by eliminating hand keying
• Ensured coding consistency from month-to-month
• Fast access gas balancing information
• Minimal IT resources

Revenue Data Is Electronically Delivered

Oildex’s Checkstub Connect (CDEX) is the only oil and gas royalty management software with the ability to receive check stub detail through the nation’s largest and most secure network. Currently, Oildex’s network of oil and gas remitters can securely send and receive revenue detail with the assurance of SSAE 16 SOC 1 Type II compliance. Oildex is the only solution that has achieved SSAE 16 compliance for over 9 consecutive years. Through Oildex’s CDEX exchange, revenue data is delivered electronically and easily imported into an existing accounting software system or downloaded into a spreadsheet.

The Commitment towards the Industry

Through the Oildex Owner Relations Connect services, oil companies provide web access to revenue detail for more than 500,000 interest owners. To understand and respond to the concerns of these owners, Oildex belongs to the National Association of Royalty Owners (NARO), an organization dedicated to the promotion of rights and responsibilities for owners of natural resources.

In late 2003, Oildex signed a formal agreement with the OFS Portal assuring its members that their proprietary data would be kept secure and in confidence. The OFS portal represents major upstream oil and gas suppliers. This agreement between Oildex and the OFS Portal was the product of a lengthy negotiation process. It has paved the way for an open, collaborative exchange relationship with member companies.

‘Thanks To Oildex’ – From the Happy Clients

“Thanks to Oildex, we are able to process more than ever before. Because of this new level of efficiency, we’ve saved a bundle.”

- WPX Energy

“Oildex’s Account Management program has changed the game for our business. Oildex consistently exceeds expectations with its professionalism, attention to detail and ability to deliver ROI. We consider the Oildex team an extension of our IT staff.”

- EOG Resources

“Oildex offers a suite of time -saving digital data services, including solutions for revenue tracking and processing JIBs. We had planned to implement these other services eventually, and purchasing all solutions from a single provider simplified the evaluation, implementation, and adoption process.”

- EnerVest, Ltd

Meet the Founder

Richard D. Slack, CEO: Richard Slack is Oildex, a service of Transzap, Inc.’s President and Chief Executive Officer, responsible for the strategic direction, operations and growth of the company. He has over 30 years of experience in the oil and gas industry, with the majority dedicated to developing, marketing, and selling software products and services. Prior to joining Oildex, Richard held a variety of senior level strategic operations roles at leading software technology companies in the oil and gas industry. Under his guidance, two of the companies that he most recently led were recognized as some of the fastest growing companies in the North America by Inc. magazine and Deloitte Consulting. Richard holds a B.A. degree in Geology from the University of California and an M.S. degree in Geophysics from the University of Houston.

“We also provide a critical interface between the operator, supplier and owner that, besides saving time and money, helps create more profitable business relationships”