Energy Block Exchange (EBX) is GuildOne’s blockchain business network for Energy.

EBX brings the trust, security and efficiency of blockchain to complex, multiparty Energy transactions, such as royalties, joint ventures, AFEs and road use allowances. In February 2018, GuildOne conducted the world’s first blockchain oil and gas royalty transaction on EBX.

EBX is designed as a compatibility zone for the oil and gas industry.

EBX Use Cases

JOINT VENTURES

Oil and gas joint ventures (JVs) are complex agreements that are subject to frequent and costly data and contract disputes that can damage relationships and require significant G&A resources. GuildOne’s smart contract for joint ventures automates the recovery of expenses between JV partners, drastically reducing dispute and cutting transaction costs and times significantly.

AUTHORIZATION OF EXPENDITURES

An authorization for expenditure (AFE) is used to request and approve large capital expenditures by operators in oil and gas joint ventures. GuildOne’s smart contract for AFEs allows operators and partners to reach consensus on the AFE, ensuring that both parties share an identical, immutable electronic record, drastically reducing conflict, alleviating administrative burden and automating expense settlement, thereby significantly speeding the AFE resolution process.

ROAD USE ALLOWANCES

GuildOne’s smart contract allows companies to easily and effectively manage road use allowances. It can be configured to manage road use allowances for one-time use (such as rig movement) or long-term access, such as Energy, Forestry and Mining. It streamlines and automates administrative processes, reducing costs and increasing efficiencies by automating road use tracking and payment, removing dispute over terms of access and automating management reporting.

ROYALTIES

Oil and gas royalty transactions are subject to frequent and costly data- and contract-driven disputes, which often entail costly reconciliation. GuildOne’s royalty smart contract on EBX brings the trust, efficiency and security of distributed ledgers and smart contracts to royalty transactions. It cuts costly data and contract disputes and allows for near-instant exchange of value, drastically reducing transaction times and costs.

ConTracks

ConTracks is GuildOne’s smart contract engine for blockchain business networks on Corda, such as Energy Block Exchange (EBX).

Learn More

White Papers

Energy Block Exchange – Position Paper

The first royalty payment network based on blockchain. Ever since the first well was bored on private land, oil and gas producers have exhausted valuable time, resources and money transacting royalty payments – and resolving disputes when agreements go south.

Click Here to Download The Position Paper

Blockchain Royalty Transaction – Position Paper

Automating royal contract settlements with blockchain. Royalty administration has been an onerous challenge for oil and gas companies and landowners since the first well was bored on private land.

Click Here to Download The Position Paper

Hydrocarbon Measurement Ledger – Position Paper

New standards of measurement: A distributed ledger for hydrocarbon volume measurement and real-time value exchange. Ever since the severe downtown in oil prices in 2014, oil and gas companies have been seeking new operating models to drive efficiencies that could reduce costs and increase profits.

Click Here to Download The Position Paper