Denbury Resources Selects Digital Oilfield to Automate and Improve Invoice Processes.A growing independent oil and gas company selected Digital Oilfield to transform invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. processes. CALGARY, Alberta and HOUSTON -- Digital Oilfield Inc., a software solutions company that optimizes financial and operational processes between energy companies and their suppliers, today announced that Denbury Resources Inc. has selected Digital Oilfield's OpenInvoice[TM], OpenInvoice Image[TM] and OpenContract PriceBook[TM] solutions to automate To turn a set of manual steps into an operation that goes by itself. See automation. and streamline their invoicing processes and has signed a multi-year license agreement. Denbury, a growing independent oil and gas exploration and production company, selected Digital Oilfield for electronic invoicing after thorough investigation and evaluation of functional and technical criteria. Denbury will begin implementation to its Louisiana, Mississippi, Alabama and Texas operations areas by January 2007. OpenInvoice allows suppliers and operating companies operating company A business that engages in transactions with outsiders. to collaboratively create and process invoices and field tickets, eliminating up to 80% of invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. processing costs. In addition, OpenInvoice also provides for spend capture and analysis, allowing operating companies to work with their strategic suppliers to improve operations and drive down direct spend. In addition, OpenInvoice Image, an add-on module, enables the operating company to use the OpenInvoice workflow engine Workflow engine is a software application meant to manage and execute modeled business processes. It is a key component in workflow technology. It will typically make use of a database server. , even for those invoices that are still submitted on paper. By converting the paper invoice to a digital image through the OpenInvoice Image module, the same processing, routing and approval workflows that OpenInvoice users enjoy for processing electronic invoices are now available for paper invoices as well. OpenContract PriceBook is fully integrated with OpenInvoice and reconciles each invoice against contracted rates for every line item. About Digital Oilfield Inc. Digital Oilfield delivers Internet-based solutions that improve oil and gas company operations by optimizing core business processes. We provide technology that integrates financial and operational processes and simplifies complex workflows, within and across departments, between field and office. More than 15,000 users and 5000 operating companies and supplier companies use our systems. We provide software specifically designed to meet the needs of companies involved in the oil and gas business, including solutions for electronic invoicing, contract management, spend analysis, well lifecycle management, business process management and rig scheduling. For more information, please visit our website at www.digitaloilfield.com. About Denbury Resources Inc. Denbury Resources Inc. (DNR See dynamic noise reduction and domain name resolver. ) is a growing independent oil and gas company. The Company is the largest oil and natural gas operator in Mississippi, owns the largest reserves of CO2 used for tertiary tertiary (tûr`shēârē), in the Roman Catholic Church, member of a third order. The third orders are chiefly supplements of the friars—Franciscans (the most numerous), Dominicans, and Carmelites. oil recovery east of the Mississippi River Mississippi River River, central U.S. It rises at Lake Itasca in Minnesota and flows south, meeting its major tributaries, the Missouri and the Ohio rivers, about halfway along its journey to the Gulf of Mexico. , and holds key operating acreage in South Louisiana, Alabama, and Texas Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square . The Company increases the value of acquired properties in its core areas through a combination of exploitation drilling and proven engineering extraction practices. |
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