Data Gumbo Provides Real-Time OPEX Visibility; Supports Continuous Financial Management Across European Energy Sector
27.1.2021 09:00:00 EET | Business Wire | Press release
Data Gumbo, provider of GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain — today announced that it enables real-time operational expenses (OPEX) visibility for energy operators and service providers across Europe. By using field operating data to digitally confirm that commercial terms of existing contracts have been satisfied, smart contracts trigger automated payments between commercial counterparties to deliver real-time visibility into contract spend.
“Energy operators and service providers are in need of information that can assist them in making difficult economic choices,” said Ove Sandve, Norway Country Manager at Data Gumbo. “GumboNet’s real-time OPEX capabilities unlock sustained digital visibility into financial health and management that can set up a company to tie field measurements to payments driving transactional certainty, improving cash flow, increasing value, and ultimately, attracting better investors.”
Managing production dynamics including labor, supervision and maintenance; chemicals and supplies; fuel, power and water; equipment rental and usage; among other services, requires considerable time and manpower. The current manual approach results in error-prone and resource-intensive paper invoices that contribute to hefty dispute and resolution processes in addition to administrative hassles.
Smart contracts provide visibility into real-time OPEX that opens the door for European energy companies to match contractual terms without human interface. Taking a typical 16+ step process down to three while ensuring transparency, accuracy and trust, GumboNet eradicates the need to rely on field estimates to book accruals and empowers operators and service providers with the financial visibility required to comprehensively digest variable production costs, as often as daily.
About Data Gumbo
Data Gumbo is a Houston-headquartered technology company that provides GumboNet™ — the massively interconnected industrial smart contract network secured and powered by blockchain. With integrated real-time capabilities that automate and execute smart contracts, GumboNet reduces contract leakage, frees up working capital, enables real-time cash and financial management and delivers provenance with unprecedented speed, accuracy, visibility and transparency. Beyond its Houston office, the company has subsidiary offices in Stavanger, Norway and in London, UK. To date, the company has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. Data Gumbo was recognized as the Disruptive Innovator in the Forbes Energy Awards 2020 and was named to CB Insights Blockchain 50, among other awards. For more information, visit www.datagumbo.com or follow on LinkedIn, Twitter and Facebook.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210126005146/en/
Contact information
Media contact:
Gina Manassero
Data Gumbo
VP of Communications
gmanassero@datagumbo.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IAS Launches IAS Total TV Solutions Giving Marketers ‘Linear-like’ Transparency for Connected TV27.4.2026 15:30:00 EEST | Press release
Integral Ad Science (IAS) today announced ‘IAS Total TV’, a new comprehensive suite of Connected TV (CTV) solutions designed specifically to bring ‘linear-like’ transparency to streaming TV. IAS Total TV can provide marketers with genre, rating, language, show and program-level data in aggregate from Disney, NBCUniversal, Paramount and Prime Video, in addition to multiple opted-in publishers using Publica. IAS Total TV integrates content insights, media quality, supply path and outcomes into a unified view within the IAS Signal user interface (UI). Advertisers can determine when and how they want their advertising to run alongside CTV content, ensuring brand-related and brand suitable environments. “As advertisers continue to double down on connected TV, the need for greater visibility and performance insight has never been more important,” said Dana McGraw, SVP, Data and Measurement Science, Disney Advertising. “By collaborating with IAS, we’re helping provide advertisers with clearer
Riskified Study Finds Consumers Aren’t Ready to Hand Over Control as AI Transforms Shopping, with Over Half Afraid of Online Fraud27.4.2026 15:00:00 EEST | Press release
Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released the Q1 2026 edition of its Agentic Commerce Pulse, a quarterly research series tracking agentic commerce risks and consumer engagement. Following Riskified’s inaugural Q4 2025 survey, which first highlighted the rapid emergence of agent-driven commerce, the latest findings reveal a more complex reality: while AI adoption remains strong, consumer trust is not keeping pace. A widening gap is emerging between how shoppers use AI and how much control they are willing to give it. The survey, conducted among consumers across the United States and the United Kingdom, shows that AI is now firmly embedded in product discovery and decision-making. However, compared to Riskified’s agentic commerce pulse survey in Q4 2025, consumer sentiment has shifted, with growing concerns around fraud, security, and accountability slowing the path to fully autonomous, agent-driven transactions. Key findings from th
Nine in 10 Expect Cross-Border M&A Surge, But 71% of Dealmakers Have Already Changed Course on Deals27.4.2026 15:00:00 EEST | Press release
Cross-border M&A is set for a strong resurgence, with nine in 10 senior dealmakers expecting activity to increase over the next 12 to 24 months, according to new research from CSC, the leading provider of business administration and compliance solutions. However, despite this renewed momentum, execution risk is rising, with regulatory scrutiny and operational challenges making it harder to get deals over the line. CSC¹ surveyed 200 director level and above global dealmakers across private equity, corporate, legal, and advisory roles who have worked on cross-border transactions in the past two years. The report, The New Reality of Cross-Border M&A: More Deals, More Friction, explores how firms are navigating an increasingly complex global deal environment. The findings highlight a growing disconnect between ambition and execution. Cross-border transactions are expected to form a significant portion of deal pipelines, with 47% of respondents expecting them to account for between 26% and
Mundipharma announces positive topline results from Phase III ReSPECT trial assessing ▼ REZZAYO ® (rezafungin) for the prophylaxis of invasive fungal diseases in allogeneic haematopoietic stem cell transplantation patients27.4.2026 14:43:00 EEST | Press release
Mundipharma today announced positive Phase III topline results from the global ReSPECT clinical trial evaluating REZZAYO® (rezafungin acetate) for prophylaxis of invasive fungal diseases (IFDs) in adult patients undergoing allogeneic haematopoietic stem cell transplantation (HSCT). The ReSPECT Phase III trial, one of the largest antifungal, multicentre, randomised, double-blind studies evaluated the efficacy and safety of once weekly rezafungin compared with a SAR for the prophylaxis of IFDs, including infections caused by Candida, Aspergillus, and Pneumocystis, in adults undergoing allogeneic HSCT. Patients undergoing allogeneic HSCT face prolonged periods of immunosuppression and routinely require extended antifungal prophylaxis,1 representing a setting where differentiated dosing, improved side effect profile, and reduced DDI is beneficial, and comparable efficacy is expected. The ReSPECT study met its primary endpoint for US Food and Drug Administration (FDA) and European Medicines
tesa Selects Kinaxis as the Digital Backbone for Global Integrated Business Planning Transformation27.4.2026 14:00:00 EEST | Press release
Kinaxis® (TSX: KXS), a global leader in end‑to‑end supply chain orchestration, today announced that tesa SE, a global manufacturer of adhesive tapes and self-adhesive product solutions, has selected the Kinaxis Maestro™ platform as a core enabler of its global, multi‑year supply chain and integrated business planning (IBP) transformation. Following an extensive evaluation, tesa selected Kinaxis to support its evolution from regionally fragmented planning practices toward a centrally governed, globally orchestrated IBP operatingmodel. Kinaxis will support tesa in improving enterprise-wide transparency, strengthening resilience, and enabling faster, more informed decision making across an increasingly complex and volatile global supply chain network. With 130 years of innovation, tesa is one of the world’s leading manufacturers of adhesive tapes and self-adhesive product solutions. Operating across six global regions and serving both complex industrial and fast-moving consumer markets, t
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom