Main content

Upstream/Midstream: Process & Technology: TIES Implementation & Transition

In March 2019, following the merger of a public and private company, Opportune was engaged to assist with the implementation and transition of the midstream and upstream platform TIES (Trilogy Effective Software Solutions). The focus of the merger involved unconventional shale plays in the Marcellus and Utica shale regions. TIES provided the most efficient option for their unconventional plays as the system would replace work currently done in spreadsheets and allow marketing and accounting departments to have a single source of truth for all trades, receipts, deliveries and contracts.

At the time of the TIES implementation, the client was also consolidating the two entities’ accounting systems into BOLO following the completion of the merger. With the client also making a change with their revenue software solution, it was also imperative that TIES be able to provide data in current and future formats.

Opportune was engaged for the TIES implementation specifically to help with efficiencies in their marketing and scheduling departments, as well as to streamline their cross-stream obligations to production and revenue/regulatory teams. Opportune was able to work with both the client and vendors of other third-party accounting software vendors—ProdView, Enertia and BOLO—to ensure that both steady and future state scenarios were included when designing implementation. In terms of drilling, new take-in-kind (TIK) scenarios for newly producing wells required on-the-fly design sessions with all parties to make sure netback pricing and proper allocations were being considered.

Opportune also worked to establish integration to import monthly and daily volumes from ProdView into the TIES system. Once consolidated into the TIES system, custom dashboards and reporting tools were created involving imbalance tracking, fuel usage and production allocations that were then dispersed by the marketing team to their appropriate accounting departments. Post-implementation, Opportune assisted with TIES value and deduction calculations to translate into BOLO uploads for use by the revenue department. Once allocated, Opportune engaged with the TIES and client’s upstream teams to confirm the TIES solution would accurately provide the revenue group with the data they needed in both the current revenue system (Enertia) and the future revenue system (BOLO).

Opportune added value by bringing midstream and upstream expertise to a client in the midst of both a merger and multiple concurrent software implementations. Opportune, the client and TIES worked together to successfully implement the TIES solution in three months, which hit the critical deadline set for post-merger go-live. By leveraging Opportune’s Process & Technology and Transactional Advisory teams, Opportune was able to not only allow for a successful TIES go-live, but also allow all departments (production, marketing and revenue) to continue to focus on merger activities with the confidence that the data they required would be there when the implementation was complete. Opportune also provided desk procedures and extensive training on usage of the TIES system and its role in the client’s daily functions.

Opportune is currently working with the client and TIES on various custom requests that have arose post go-live, including a potential second phase involving another set of 300 unconventional wells the client would like to move into the TIES system. Given the previous experience the team had with the implementation, Opportune has high confidence in another successful effort.

Kyle Blair

ManagerOpportune LLP