InstaNext Inc., a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Independence Resources Management has chosen the InstaNext platform to manage their hedging and risk management.
Headquartered in Houston, TX, Independence Resources Management (IRM) is a private oil and gas exploration and production company targeting onshore oil and gas acquisition and play extension opportunities in known producing areas in the Permian, Anadarko and Powder River basins of the United States. The company focuses on plays with substantial hydrocarbon resources and historically low recoveries, where advanced drilling and completion techniques will create compelling risk-adjusted returns. Founded in 2014, IRM aims to acquire a meaningful footprint in targeted plays – either through green field leasing, joint ventures and/or acquisitions of existing producing properties that have significant development upside.
As a relatively new player in the energy industry, IRM was searching for a solution to manage their crude oil and natural gas hedging while also providing the necessary coverage analysis. Following a rigorous evaluation of several potential products, IRM decided to go with InstaNext. This decision was made due to InstaNext’s intuitive user interface and extensive capabilities which would allow IRM to reduce its reliance on spreadsheets and significantly streamline business processes. IRM will use the platform to manage their derivative trading and risk management activities and to reconcile positions and P&L. In addition, InstaNext’s robust reporting and analytics tools will provide IRM with the necessary coverage and projection details for their numerous drilling locations. With the implementation of the new system, IRM will be able to gain deeper insights into making decisions around price risk.
Richard Kulazzewski, EVP at InstaNext states: “IRM’s senior executive team had significant previous experience with a sophisticated competitive product, so the fact that they opted to go with InstaNext is very telling. This buying behavior demonstrates that even though we are a fairly new company, our product is coming up the curve very quickly.”
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 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.