Neon Energy Limited is the ASX-listed petroleum exploration and production company, based in Perth, with a portfolio of operated exploration, appraisal and production assets. Neon Energy has chosen to partner with Professional Advantage to improve their joint venture accounting, reporting and management of Approval for Expenditure (AFE).
Neon Energy was running a low end accounting system using spreadsheets for the areas of the business that the accounting system could not manage. Neon had also experienced rapid expansion and has an ambitious work program in place. A successful capital raising on the stock market was the trigger to put in a high end financial management system.
Professional Advantage and Infor FMS SunSystems were chosen as a proven combination in the upstream Oil & Gas industry. A single source accounting and reporting system, it accommodates the needs of international operations reporting to varied stakeholders, such as joint venture partners, local regulatory government reporting, management and statutory stakeholders, with the flexibility to manage business change in the future.
Neon Energy joins the growing community of upstream Oil & Gas companies working with Professional Advantage.