InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Nuvista Energy has licensed the InstaNext system to manage their commodities hedging program and provide coverage analysis for their natural gas and crude oil production.
Headquartered in Calgary, NuVista Energy (TSX: NVA) is actively engaged in the exploration, development and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin. NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin, which has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
Nuvista was impressed with InstaNext’s ability to manage hedging commodities from across the energy sector while providing full risk management and analytics, in addition to the system’s flexible architecture and ease of configurability to support NuVista’s business needs. The energy company plans to use the InstaNext platform to manage their Physicals, Swaps, Options and Basis trades to control their hedge coverage versus their production volume. They will also use the platform to reconcile positions and P&L with their counterparties covering their numerous commodities which include: Crude Oil, Natural Gas, Transportation and Foreign Exchange in various markets and currency variations. Leveraging InstaNext’s advanced reporting and analytics capabilities, NuVista aims to control their hedging program with various custom reports highlighting their hedged productivity for oil, gas, FX and transportation.
“NuVista hedges on three different pipelines, has multiple basis locations, and splits their hedges by percentage,” stated Richard W. Kulaszewski, EVP Global Field Operations. “Our market data and flexible coverage analysis vs. multiple forecasts is a great fit for them.”
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 commodity management software can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.