InstaNext Inc., a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Painted Pony Petroleum Ltd. has chosen the InstaNext platform to manage the sales and hedging of their natural gas and various natural gas liquids (NGLs) production.
Headquartered in Calgary, Alberta, Painted Pony (TSX: PPY) is a growth-oriented Canadian public natural gas producer focused on the development of natural gas and natural gas liquids production in the Montney formation in Northeast British Columbia ─ one of North America’s premier natural gas resource plays. The company’s five-year model for Montney development calls for the drilling of more than 198 wells, culminating net production volumes of 600 million cubic feet per day during 2019. Painted Pony maintains a conservative balance sheet, which provides the company with excellent flexibility in responding to changing industry conditions and commodity price fluctuations.
“Signing Painted Pony is a tremendous endorsement of the InstaNext technology in a demanding and complex marketplace in Calgary,” stated Richard Kulaszewski, EVP at InstaNext. Painted Pony selected InstaNext based on the company’s need for a system that could manage their commodities hedging program while also providing the necessary coverage analysis of their physical sale of natural gas and NGL production. The InstaNext platform will provide Painted Pony with a multitude of tools to manage their coverage versus their budgeted prices and volumes, in addition to reconciling positions and P&L with counterparties. Furthermore, the various analytical and reporting capabilities within the system will enable the energy company to gain a better grasp of their physical sales positions in combination with their financial hedging positions. By implementing InstaNext, Painted Pony will be able to streamline business processes and get more timely and accurate information for decision making.
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.