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| [January 16, 2007] |
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EnerVest Management Partners Selects Bolo Systems for Core Oil & Gas Back Office Systems
DENVER --(Business Wire)-- Bolo Systems, Inc., a premier provider of customer-centric accounting, land and production software and services for the oil and gas industry, today announced Houston-based EnerVest Management Partners has selected Bolo as its critical back office systems of choice.
"We needed an integrated accounting, land and production system that would provide operational efficiencies which results in seamless integration and a robust operational and financial reporting package. We were also looking for scalability in the product, flexible reporting tools and a strategic partner on the service side," said Todd Guest, VP of Accounting at EnerVest Management Partners. "By implementing Bolo companywide, we have seen significant increases in productivity and efficiency throughout our entire organization."
EnerVest Management Partners is recognized as one of the world's largest and most successful managers of oil and gas assets for institutional investors. In the company's 15-year history, EnerVest partnerships have generated rates of return in excess of 28 percent on exited projects throughout the up-and-down cycles of the industry.
"Working with clients such as EnerVest, operational efficiencies are critical to their success. Additionally, their continual acquisition growth creates a need to integrate new assets quickly. Recognizing this, Bolo created software to enable easy incorporation of acquisitions, the ability to integrate all back office departments to eliminate decentralization of data and the customer services to assist with the standardizing of procedures," said Richard Slack, President and CEO of Bolo Systems. "We are thrilled to bring the unique capabilities and efficiencies found in Bolo to EnerVest Management Partners, and look forward to working with them as they continue to aggressively grow their company."
About EnerVest
EnerVest Management Partners, Ltd. provides management of oil and gas properties on behalf of institutional investors. Currently, EnerVest operates approximately 11,000 wells in 11 states: Colorado, Kansas, Louisiana, Michigan, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Texas and West Virginia. EnerVest currently is seeking acquisitions through its Fund X and Fund XI which has in excess of $1 billion of available combined equity and debt. For more information, visit www.enervest.net.
About Bolo Systems
Bolo Systems provides the most customer-centric account, land and production software and services suite in the oil and gas industry. Designed and supported by industry experts, Bolo's integrated software suite allows users to take transactional data and transform it into useful information to help executives make faster, more informed decisions. Chosen more often than any other accounting, land and production application in the oil and gas sector, Bolo is quickly becoming the industry standard among independent exploration and production companies. Bolo is headquartered in Lakewood, Colorado, and operates a sales and support office in Houston, Texas. For more information, contact us at 303-987-2238 or visit our web site at www.BoloSystems.com.
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