ZE PowerGroup Inc. Supplies Energy Data Management Suite to Nexen Marketing
February 21, 2005 – Richmond, B.C. − ZE PowerGroup Inc. (ZE), energy consultants and developers of integrated energy software solutions, announced the successful deployment of core components from its ZE EnergyTools software suite for Nexen Marketing. The deployment included the multi-phased installation and customization of both the ZE Data Manager and the ZE Market Analyzer used for the importing, aggregation, and centralization of key market and Nexen specific price data sets for the purpose of analysis, back office support and integration with downstream systems.
The delivery of timely, reliable market intelligence is a mission critical function for Nexen Marketing. Market price data is used in pricing, trading, and marketing of energy commodities, risk control, and for calculating financial analytics. Michele Burke, Director, Risk Management at Nexen, states that “acquiring ZE PowerGroup’s software gave us the opportunity for streamlining the various price data capture processes and for improving access to pricing information within Marketing and Risk Management. The purpose of the project was to implement a centralized price repository for analytical, accounting, measurement, reporting and modeling purposes”.
ZE PowerGroup’s main task was to create a centralized repository for external and internal market data. The ZE Data Manager, which is an automated multi-threaded data importer, combines with the Oracle® database system to centralize data for storage, analysis and enterprise-wide access. ZE PowerGroup was also tasked with integrating several internal Nexen data sources with third-party software applications, including energy transaction and risk management solutions. The web-based ZE Market Analyzer allows Nexen users to easily extract, report on and analyze energy-related price data.
ZE PowerGroup was selected as the solution provider after submitting a formal RFP, undertaking on-site demonstrations and undergoing a multi-phased deployment and test period.
Nexen Marketing is a subsidiary of Nexen Inc., an independent, Canadian-based global energy and chemicals company. Nexen is one of the largest Canadian-owned producer marketers, and is based in Calgary, Alberta. Nexen Marketing is involved in the purchase, transportation, storage and sale of Crude Oil, Natural Gas and Electricity for both Nexen Inc. proprietary production and 3rd party commodity.
ABOUT ZE PowerGroup
ZE PowerGroup is a Richmond, BC-based energy consulting firm and the developer of ZE EnergyTools, an integrated suite of energy trade and data management applications. The ZE EnergyTools suite delivers a broad range of analytics, data acquisition, trading, and risk management capabilities that enable dynamic operation in uncertain and volatile markets.