InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Modern Resources has licensed the InstaNext software for forecast hedging and mark to market.
Based in Calgary, Modern Resources is an oil and gas company focused on the pursuit of proved reserve acquisitions with resource upside in the Western Canadian Sedimentary Basin. The energy company has raised $432 million in equity, and under the guidance of a seasoned management team and board of directors, Modern has amassed a top tier, highly concentrated, integrated asset base in the Deep Basin. Modern is currently focused on resource validation and development of the Spirit River and Cardium plays of the Deep Basin.
Modern Resources was looking for a system that would give them the ability to manage their commodity hedging program while also providing the necessary coverage analysis of their natural gas and crude oil production. The energy company will use the InstaNext platform to manage their physical and derivative trades, and with the new system in place, Modern will be able to control their hedge coverage versus their budgeted volumes. With InstaNext’s extensive analytical and reporting capabilities, Modern will be able to reconcile positions and P&L with their counterparties and prepare disclosure reports. “Modern Resources will use InstaNext for its vast market data collection and percentage hedged. This combination creates significant value for our Canadian customer base,” stated Richard Kulaszewski, EVP Global Field Operations.
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.