InstaNext, a premier provider of cloud-hosted energy trading and risk management solutions, announced today that Diversified Gas & Oil has licensed the InstaNext software platform to replace its current outsourced solution.
Headquartered in Birmingham, Alabama, Diversified Gas & Oil (LSE: DGOC) is an established, independent owner and operator of producing natural gas & oil wells concentrated in the Appalachian Basin. Diversified’s field operations are densely located throughout the neighboring states of Tennessee, Kentucky, Virginia, West Virginia, Ohio, Pennsylvania, and Maryland, where the energy company is one of the largest independent conventional producers. Diversified has grown rapidly over the last few years, capitalizing upon opportunities to acquire and enhance producing assets within the company’s region of focus and leveraging the operating efficiencies that come with economies of scale.
Due to Diversified’s recent growth, the company has licensed the InstaNext platform to support their changing business needs and will implement numerous features that the solution offers. With its diverse book of Oil, Natural Gas, and NGLs, Diversified will be able to capture all critical data points of their trades including their financial hedges, physicals, and forecasts, and generate coverage analysis reports. Using InstaNext’s advanced reporting tools, Diversified will be able to prepare internal, external and compliance-based reporting.
“Diversified’s recent acquisitions and inaugural securitized financing has created additional needs as it relates to reporting their hedge positions both internally and to their stakeholders,” noted Richard Kulazewski, EVP Global Field Operations at InstaNext. “Ultimately, the energy company was a great fit for our product offering over other software providers.”
InstaNext is comprised of a team of software and technology experts in the fields of energy trading, hedging, and risk management. With an extensive portfolio of successes in the ETRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities market. The InstaNext platform simplifies every aspect of energy trading and risk management. The multi-market platform allows companies to analyze their positions in real-time via its powerful analysis capabilities. With InstaNext, historical and scenario-based data can be used to compare current positions against changes in the market, allowing for more effective management of portfolio risk and ensuring profit margins are secure. Using the latest cloud-hosted technology, InstaNext can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.