InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that EXCO Resources Inc. has licensed the InstaNext platform.
Headquartered in Dallas, Texas, EXCO Resources is an oil and natural gas exploration, exploitation, acquisition, development and production company with principal operations in Texas, North Louisiana and Appalachia. The company’s primary goal is to build value for its shareholders by enhancing the value of its assets through efficient operations, a high technology drilling program, development of properties and exploitation of unproved upside.
Prior to licensing InstaNext, EXCO was using an antiquated system that was not meeting their market data requirements. The E&P company will now be able to use the newly licensed InstaNext platform for independent mark-to-market utilizing the market data available within the system. With the tools and framework to define, measure, and manage fair value levels, InstaNext will also make it easier for EXCO to comply with the complex reporting requirements that come along with ASC 820 fair value disclosures, in addition to limits reporting including hedge vs. current PDP, forecasted production, and bank minimum hedge limits. With InstaNext’s robust reporting and analytics capabilities, EXCO aims to significantly reduce annual costs as well as reduce its reliance on spreadsheets. “E&P companies like EXCO are a great fit for the InstaNext functionality, as we have a deep understanding of their business,” stated Richard Kulaszewski, EVP Global Field Operations.
“We have everything they require including market data in our cost effective, updated technology platform.”
About InstaNext InstaNext is comprised of a team of software and technology experts in the fields of commodity trading, hedging, and risk management. With an extensive portfolio of prior successes in the CTRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex commodities world. The InstaNext platform simplifies every aspect of commodity 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.