The PetroXML Initiative is designing an 'Internet Transaction Standard for the Petroleum Industry'.
On February 02, 2000, the Denver-based electronic commerce company TransZap, Inc. at the NAPE 2000 conference, announced its "release of the PetroXML initiative. The company's products and services are accessible both at oildex.com, and a new TransZap-sponsored website, PetroXML.org. The initial release of PetroXML provides a first-ever standardized eXtensible Markup Language (XML) tag set for vendor invoicing for oil and gas field operations. A development kit to integrate XML tagged transactions to users' accounting systems and databases will also be available. The revolutionary XML tag sets create standardized statements for Internet transactions that were previously unavailable from any vendor. Operating companies and vendors will be able to transport detailed invoicing between each other, despite having incompatible accounting systems... Moving toward universal adoption, Oildex will present tag sets to the industry standardization bodies, Petroleum Industry Data Exchange (PIDX) and XML standards bodies, including the Organization for the Advancement of Structured information Standards (OASIS). The accounting software vendors including Avatar, Applied Terravision (the Artesia System), E.B. Archibald & Associates (the SSI System) and G-Wiz (the DAVE System) have indicated support for the standardization of the Oildex.com XML tag sets. PetroleumPlace.com, an online portal for the upstream oil and gas industry and an electronic hub for oil and gas property Acquisition and Divestiture (A&D), has also stated support for the PetroXML initiative. XML tag sets specific to the A&D business will be created by PetroleumPlace and reside on the PetroXML.org website. In another initiative to catalyze Internet transactions, TransZap will release a development kit that allows companies to easily integrate PetroXML-tagged transactions with their internal systems. The development kit contains JAVA code and objects that will allow accounting software vendors, among others, to build their own interfaces, minimizing their need for XML programming expertise."
[July 31, 2000] "PetroXML is a set of XML schemas developed by Transzap, Inc. This is the oil industry's first set of XML schemas specifically designed to empower industry participants in end-to-end automation of oil field operations. The new set of schemas represent a starting point for the building of a business-to-business e-commerce community that spans many oil companies and their vendors."
[July 31, 2000] "TransZap Acquires Petrolis.com, Creates Formidable E-oil Knowledge Management Company, Internet Products and Solutions for the Global Energy Markets." - "TransZap, Inc., home to Oildex Connect, a Denver-based knowledge management company providing Internet connectivity and complementary workflow software for the global energy industry, today announced the acquisition of Petrolis.com of Oakland, Calif. The Petrolis.com configurable exchange systems integrate next-generation enterprise resource products (ERP) and Internet and client-server products with legacy standards such as EDI (electronic data interchange)... Curt Edmondson, President of Petrolis.com, said: 'TransZap's PetroXML is the leader in XML technology for the petroleum industry. Our joining forces will provide systems whereby over 10,000 oil and gas operators can electronically distribute payments to more than 4.5 million royalty owners. Customers will realize substantial improvement in wellsite and production information, fund management and cost savings for the oil operator.' Flanagan added: 'Curt Edmondson's addition to TransZap's world-class management team is an outstanding achievement for us. Curt's ability to understand a customer's point of pain, develop and successfully market a commercial product that provides value and benefits to the customer is indeed an asset.' Denver-based TransZap, an application service provider (ASP) and enterprise application integrator (EAI), provides a business-to-business e-commerce infrastructure platform to the oil industry. The XML-based application, Oildex Connect, automates oil industry B2B workflows, delivers secure Internet transactions, and is operated from a Web browser. Oildex Connect interconnects and interoperates with popular oil industry back office systems via the PetroXML standard."