Velvet users of InstaNext have been pleased to share that the InstaNext team has been an excellent partner to work with through the implementation process and early utilization of the platform.
Comstock reached out to a few of our existing customers and shortly after receiving feedback that we deliver what we sell, the implementation moved forward rapidly.
Rich Products was the first to license InstaNext’s Bill of Materials (BOM) Insights module released in
April, as well as licensing the existing Commodity Management module.
The need for a corporate-wide hedge management, risk, and reporting system arose when Midland-based Concho made a $9.5 billion acquisition of Dallas-based RSP Permian, Inc., establishing the largest drilling program in the Permian basin with 27 rigs.
Fieldwood was searching for a software solution to mark-to-market its crude production hedges as well as a system that would give them the ability to have more control of their data.
This new utility offers an intuitive user interface that allows automation and increased efficiency of complex BOM cost projection calculations.
Nuvista was impressed with InstaNext’s ability to manage hedging commodities from across the energy sector while providing full risk management and analytics.
The InstaNext software will enable Darigold to easily capture accumulator swaps, commodity swaps, and exotic options and view their mark to market based on current market prices.
The energy company was looking for a solution that would offer comprehensive reporting of their hedging program for both the financial derivative and physical production forecast sides
The energy company will use the InstaNext platform to manage their physical and derivative trades.
The implementation was completed in a record 5 weeks and will enable the energy company to consolidate all of their physical and financial trades in one CTRM solution.
The E&P company will now be able to use the newly licensed InstaNext platform for independent mark-to-market utilizing the market data available within the system.
The energy company required a system that could help reduce the numerous spreadsheets used to mark to market, reconcile, and settle trades, in addition to providing the necessary coverage and risk analysis.
Since the previous release, the system has grown significantly and matured into a leader in the commodity management space.
Prior to licensing InstaNext, the power company was struggling to compile the necessary reports using excel spreadsheets and manual processes.
Hawkwood will be able to use the InstaNext platform to manage its growth and track it’s hedging limits in an organized and compliant manner.
After considering the usual CTRM software players, Campbell selected InstaNext based on the solution’s highly sophisticated yet intuitive capabilities.
Signing Painted Pony is a tremendous endorsement of the InstaNext technology in a demanding and complex marketplace in Calgary.
Canadian E&P’s that hedge in USD are also exposed to currency rates, which the InstaNext product captures eloquently.
Along with the ease of daily operation, Newfield was extremely impressed with InstaNext’s US GAAP reporting and regulatory disclosures capabilities.
Mountaineer Keystone chose InstaNext over other ETRM solutions on the market because of the platform’s full risk management and reporting suite.
With the implementation of the new system, IRM will be able to gain deeper insights into making decisions around price risk.
The software now provides even more value to its user base of clients ranging from various upstream oil and gas businesses to some of the leading U.S. food suppliers and consumer goods manufacturers.
Range’s requirements for an independent mark to market and financial reporting around ASC 820 and the like, made InstaNext a natural transition from their legacy system.
Empire District will use InstaNext to manage their natural gas positions, P&L and accounting of their derivative trades.