TAQ Energy, an oilfield abandonment service company, and Engage Mobilize, Inc (ENGAGE) announce a partnership to develop a cloud based operational and financial platform for TAQ’s well servicing business. The combination of ENGAGE’s automated financial workflow with TAQ’s field data acquisition will improve business efficiency and lower operational costs resulting in increased profitability. The benefit for TAQ’s customers is improved visibility, accuracy, and timeliness of project execution, reporting and invoicing. The ultimate result for our customers is a reduction in their time spent managing abandonment projects at a lower project cost. Operators will also have the confidence that all abandonment data has been recorded and documented including required notifications for full regulatory and audit compliance.
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Asset retirement presents an industry challenge as operators face a mounting financial obligation when oil and gas wells are at the end of their life. Abandonment companies need to provide a high-quality service while minimizing cost to operators. Part of TAQ’s approach to tackle this challenge is partnering with industry leaders in technology like ENGAGE to streamline operations for both the service provider and operator. Another added benefit of the partnership is the development of an emissions tracking and reporting platform which will not only provide operators the emissions footprint for the operation but also calculate carbon offsets.
TAQ Energy is a privately held oilfield well service provider who specializes in plugging and abandonment (P&A) of oil and gas wells. The company provides a comprehensive service offering including engineering, permitting, facility decommission, location reclaim, emission monitoring and regulatory reporting. TAQ Energy has brought a new approach to P&A activities by increasing operational efficiencies and leveraging advanced technologies while fully characterizing environmental impacts.
ENGAGE drives business intelligence by automating financial workflows end-to-end. Simply digitizing paper processes has been commercialized by many solutions, however, ENGAGE is the first to use predictive scheduling and data validation to reduce touchpoints and eliminate redundant processes, thus changing the way transactions are scheduled, managed, and approved. Additionally, layering on ENGAGE’s E-invoicing platform automates workflows end-to-end, from scheduling services all the way through payment processing.