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Quorum Software Announces Release of Entero MOSAIC v2018CALGARY, Alberta, April 24, 2018 /CNW/ -- Quorum Software, the leader in digital transformation for the oil and gas industry, is excited to announce the highly anticipated latest release of Entero® MOSAIC™, the only truly unified solution in the upstream industry for reserves management, budgeting, and economics. MOSAIC v2018 is the first release from the new Entero division of Quorum Software formed from the acquisition of Entero Corporation by Quorum Software earlier this month. This new release delivers enhancements that enable greater accuracy, flexibility, and improved productivity for the economic forecasting of reserves, and operating and capital budgets. Offering over 300 industry-driven enhancements, MOSAIC v2018 provides upstream companies with the most productive user experience in the market through a modern, workflow-oriented interface. "Our new automated reconciliation process, as well as the composite workbench, are truly innovative approaches to managing the plethora of data in the upstream industry," said Todd Kuipers, Director of Product Management. "We worked with our customers and industry experts to understand key business processes and built v2018 to alleviate the challenges that our users faced with other systems." Key highlights in MOSAIC v2018 include:
Legislative changes include a substantial bonus depreciation allowance for tangible capital expenditures with an expected depreciable life of 20 years or less, placed into service between September 27, 2017, and December 31, 2026. Of special interest to US oil and gas companies is the provision that the Bonus Depreciation not only applies to new capital expenditures, but also to capital used to acquire existing property. This is especially relevant to companies engaged in asset acquisitions. The latest release provides upstream oil and gas companies with a simple and convenient option to trigger the application of the new Bonus Depreciation Allowance. MOSAIC v2018 offers a MACRS15 depreciation class, in addition to MACRS7, giving upstream companies more options when scheduling Tangible capital. The release also supports the ability to assign either MACRS depreciation class to each Tangible capital expenditure type. These new laws affect only Tangible capital and do not change the way Intangible, Lease or G&G capital expenditures are currently depreciated or amortized. Quorum Software recently announced that it entered into a definitive agreement to acquire Entero Corporation. Both companies share a history of innovation and commitment to the energy industry, which today's announcement supports. Upon the successful completion of the acquisition earlier this month, Entero is now a division of Quorum Software. The joint portfolio of Entero and Quorum covers more of the energy value chain than any other oil and gas software provider. For a view of the combined portfolio of Entero and Quorum, visit www.quorumsoftware.com/Quorum-Acquires-Entero. For more information on this latest version, please contact our sales team at [email protected]. About Entero About Quorum Software CONTACT: Genevieve Shoemaker, 713-377-6438, [email protected]. View original content with multimedia:http://www.prnewswire.com/news-releases/quorum-software-announces-release-of-entero-mosaic-v2018-300635435.html SOURCE Quorum |