When Quorum acquired Woodlands Solutions about a year and a half ago, we viewed the deal as a solid opportunity for Quorum to leverage Woodlands’ modern technology, and Quorum’s expansive client base, to develop a successful ETRM solution offering. Though the company spent much of last year building-out an offering (called Quorum Energy Marketing Solution – QEMS), that combined Quorum’s strengths in physical logistics with Woodlands’ capabilities in trading and risk, our predictions do appear to have been prophetic.
I met recently with Mike Muse, Woodlands founder and now VP at Quorum, to get caught up on the progress they’ve made to date. According to Mr. Muse, they had a very success first half of 2015 with 6 new client signings, including four deals that were done with existing Quorum customers. Amongst the deals he described:
• Large, Texas-based midstream crude, natural gas, and liquids operator
• Mid-sized producer based in Oklahoma
• Small Pennsylvania-based natural gas retailer
• Tennessee-based natural gas and electricity procurement firm
• Louisiana-based E&P
• Canadian-based transportation and midstream company
He further described the last deal as a very large project with an existing Quorum customer, and one that will result in QEMS supporting natural gas, power, NGL’s and crude in a single platform, including full multi-modal logistics.
Obviously it’s been a very good first half of the year for the company and according to Mr. Muse, they aren’t done yet. He says their sales pipeline looks solid and he expects “at least a few more deals” to close this year. Given the momentum that Quorum has developed with QEMS, they are clearly a growing force to be reckoned with in the North American ETRM market.
