Why Oildex?

Imagine a world without paper or manual processes

Every year, the US oil & gas industry spends over $5 billion processing paper documents, representing 2.9% of the cost of a barrel of oil. Paper is still everywhere in an industry that processes 144 million invoices, 60 million royalty check stubs and 240 million payment transactions flowing between thousands of operators, tens of thousands of suppliers and millions of royalty rights owners. At Oildex, our mission is to eliminate all the paper, manual processing and data entry from the oil & gas industry so companies of all types can reduce costs and increase efficiency. We’ve had great success so far, having seen some of our operators achieve nearly 100% electronic invoices. But we’ve really just begun. Our most recent initiative targets another pervasive paper document in oil and gas, the ubiquitous field ticket. We are privately held and backed by Accel-KKR. Our headquarters are in Denver, Colorado, and we have offices in Houston, Calgary, and Austin.