Intro:
When you're choosing an accounting or AP system in the oil and gas industry, it's not just about features or price—it's about alignment with where your company is going. At Joltly, we’ve worked closely with energy operators and software vendors across the board. We’ve seen firsthand how the ownership structure and long-term strategy of a vendor can shape your experience in unexpected ways.

In this post, I’ll walk through what I’ve learned about some of the most widely used accounting platforms in the industry—and why their backers and business models matter more than most people think.

Think Beyond Today

Most teams pick software that fits their current workflow. But that’s not enough. You need to be thinking about where your company will be three, five, even ten years from now. What works for a 10-well operator might not work when you hit 100 wells—or if you go through a merger, or bring in new investors.

Private Equity vs. Venture-Backed: Why It Matters

The ownership of your accounting vendor affects everything—product strategy, pricing, support, and roadmap.

• Private equity-backed firms often aim to optimize revenue, which can lead to aggressive price hikes or product bundling.
• Venture-backed firms may prioritize rapid growth and offer lower prices or better service early on—but might be positioning themselves for acquisition.

When the financial incentives shift, so does your experience as a customer.

Breaking Down the Major Players (Based on Public Data)

I spent time reviewing the Crunchbase profiles and public data for many of the most commonly used accounting platforms. Here are a few insights.

Quorum Software

• Likely the current market leader
• Raised $665M in debt financing (2024)
• PE-backed since 2014
• Aggressively acquiring other platforms (SCADA, land tools)
• Large headcount and diversified product suite
• My team at Joltly has worked closely with them and built a native integration—we’ve had a great experience

Pak Energy

• Also private equity-backed
• Recent acquisitions include PetroSite (2025) and Plow Technologies (2024)
• Broad product coverage: land, accounting, transport
• Based in Abilene, TX

W Energy

• Private equity round in 2022
• Based in Tulsa
• Leaner team, fast-growing
• Customer experience could shift depending on how the ownership group scales or exits

Enertia

• Based in Dallas
• Steady growth, modest web traffic
• Trying to offer a full suite of services for mid-sized operators

Pivoten (P2)

• Smaller player based in Colorado
• Well positioned for smaller O&G companies
• Simpler tools, fewer frills, but often more accessible

Roughneck

• Common among operators in Kansas
• Very small footprint
• Few public details available, likely a mom-and-pop tool

Web Traffic and Headcount as Signals

While not perfect, metrics like monthly website visits and employee headcount give you a good sense of market penetration and maturity. Tools with high traffic are often getting more mindshare—and more funding. Headcount can also reveal how much support or R&D investment is happening behind the scenes.

Final Thoughts

Most people evaluating accounting systems focus too much on features and not enough on incentives. But if your vendor is getting ready for an IPO or trying to get acquired by another PE firm, you can bet your experience will change.

So ask deeper questions:

• Who owns this company?
• What’s their track record post-acquisition?
• Where are they investing—and where are they cutting corners?

You’ll thank yourself later.

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