InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Mountaineer Keystone has chosen the InstaNext platform to manage their natural gas hedging.
Headquartered in Pittsburgh, Pennsylvania, Mountaineer Keystone is an Appalachian Basin oil and gas company engaged in the acquisition, exploration, development and production of oil, natural gas and natural gas liquids. The energy company currently has approximately 181,000 net acres under lease in the Marcellus Shale in West Virginia and approximately 25,000 net acres in the Utica Shale in Ohio. Mountaineer Keystone strives to discover, develop and market oil and natural gas in the most environmentally responsible, fiscally sustainable and efficient manner.
Mountaineer Keystone chose InstaNext over other ETRM solutions on the market because of the platform’s full risk management and reporting suite. The energy company will be using the InstaNext platform to manage their natural gas derivative positions and to reconcile P&L and settlements with counterparties. With InstaNext’s robust reporting capabilities, Mountaineer Keystone will be able to streamline business processes by developing custom reports which will replace the company’s reliance on spreadsheets. Additionally, InstaNext will enable MK to automate the hedge accounting process and manage derivative valuation and disclosure reporting to ensure compliance with financial accounting requirements.
Mountaineer Keystone will use InstaNext in conjunction with a Houston based advisory firm that helps energy companies with their hedging strategies. “Our solution seems to be a very good fit for Mountaineer Keystone, as they receive great trading advice from their advisory firm and InstaNext provides software for an independent MTM, data, risk analysis, and comprehensive reporting that the advisory firm doesn’t,” 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 commodity trading and risk management 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.