Denver, Colorado – (October 12, 2022) – Pivoten, a developer of oil & gas operations software, announces it has completed the acquisition of SherWare, Inc. a leading provider of accounting software for oil & gas operators. Pivoten will integrate SherWare’s financial and accounting features with its field operations, creating the industry-first cloud-based business operations platform designed specifically for independents and small to medium sized operators.
“As a 4th generation oil producer, we see why many operators don’t use technology in their field operations. Solutions are expensive, complex, and designed to be used by operators much larger than us,” said Chris Cantrell, CEO and Founder of Pivoten.
“We understand how independents run their business. This gives us an advantage when building solutions that integrate the different aspects of their business. We are focused on building cost-effective solutions that reduce costs, improve production, and increase operational efficiency. Building on SherWare’s success and customer base is the perfect opportunity for us to bring the digital oilfield to our market.”
Pivoten, founded in 2022, will combine APMiQ and its field operations technology acquired in September, with SherWare’s financial software, and position Pivoten 360° to become the only intelligent operations platform on the market for independent operators. The platform will unify the separate applications and business processes of back-office, finance, accounting, field operations, tank automation, and production management into one solution.
“We couldn’t be happier about the acquisition with Pivoten and what it means for the future of our industry. This acquisition equips us with more resources for a number of improvements that we previously were not able to accommodate,” Phil Sherwood, CEO & Founder of SherWare, Inc. said.
“We’ve spent nearly 30 years building software for and relationships with independent operators who need technology to run more efficient operations, and we will continue to create solutions for them with Pivoten 360°.”
Inside the industry, vendors and existing customers are excited for the new developments Pivoten will release.
“Pin Oak Energy Partners has been using SherWare as the backbone of our accounting system for nearly a decade. We find that the SherWare products provide a robust suite of software options for growing oil and gas companies with an attractive cost structure. We are excited about the increased functionality and upgrades to the SherWare platform that will come from the transaction with Pivoten,” Chris Halvorson, CEO of Pin Oak Energy Partners said.
Founded in 1994, SherWare develops software for accounting, revenue distribution, joint interest billing and related financial activities across 28 states and multiple countries. Developed and managed by Phil Sherwood as a family business, SherWare’s goal is to make oil & gas accounting easier for independent operators, accountants, and investors.
Founded by a 4th generation oil & gas operator in 2022, Pivoten 360° is a unified, single business operations platform designed by operators, for operators. It integrates the separate applications and business processes of back-office, finance, accounting, field operations, tank automation, and production management into one solution.