Pandell Updates Economics Software with Latest Royalty Changes
Calgary, AB – (March 18, 2010) Pandell Technology Corporation, a pioneer of Software-as-a-Service (SaaS) solutions for the energy and government sectors, announced today that it has updated its economic evaluation, budgeting and reserves reporting software, EANexus, to reflect the latest Alberta royalty framework adjustments.
The software update was pushed out to clients just seven days following the Alberta Government’s March 11th royalty framework announcement. It includes the following considerations:
- The New Well Incentive Program is now a permanent Royalty Holiday
- Oil Royalties are capped at 40% effective Jan 1, 2011
- Gas Royalties are capped at 36% effective Jan 1, 2011
- Transitional royalties election to end Jan 1, 2011
These latest changes to the royalty framework are part of a series of government adjustments that could have a significant economic impact on energy companies in Alberta. EANexus continues to provide a vital tool for analyzing what that fluctuating impact is. The release of EANexus version 188.8.131.52 demonstrates Pandell’s market leadership by responding immediately to changes in government royalties.
"Over the last 18 months EANexus has been the undisputed leader in providing immediate, ongoing feedback on the economic impact of Alberta royalty changes," says Ed Poth, Pandell's Senior Product Manager. "This has been a clear advantage for our clients and provides a solid foundation for the rapidly growing number of Alberta operated companies choosing EANexus."
Pandell is a leader in delivering Software-as-a-Service (SaaS) solutions to 500+ energy companies in Canada, the USA, and abroad. Our customers range from startups to major enterprises across the energy sector including upstream oil & gas, midstream facilities, oilfield services, land brokers, pipelines, utilities, mining, and renewable energy. Our cloud-hosted product suite helps finance, land, and operations teams run their business more effectively; while our enterprise division builds and manages large-scale web portal applications that facilitate work across organizations. Combining the strength of our industry experience, ground-breaking Lithium™ technology, and practical software subscription model, we are Crafting the Future of Energy Software.