Surge Energy Signs On As InstaNext’s Newest Canadian E&P Client

InstaNext Inc., a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Surge Energy Inc. has chosen the InstaNext platform to manage their gas and crude oil hedging.

Headquartered in Calgary, Surge Energy is an oil focused E&P company that has a high quality crude oil reserve, production and cash flow base. The energy company has elite, operated properties characterized by large OOIP crude oil reservoirs with low recovery factors. Surge has an extensive 14 year inventory of more than 700 net low risk development drilling locations, several high quality waterflood projects, and an excellent balance sheet. Surge’s management has initiated an orderly, on-going risk management / hedging program designed to protect cash flows, fund capital expenditures, and to pay dividends. The company’s common shares currently trade on the Toronto Stock Exchange under the symbol SGY.

Surge was looking for a commodity management solution to manage their gas and crude oil hedging while also providing the necessary coverage analysis. Following a rigorous evaluation of several potential products, Surge chose InstaNext. This decision was made due to InstaNext’s intuitive user interface and extensive capabilities which would allow Surge to reduce its reliance on spreadsheets and significantly streamline business processes. Surge will use the platform to manage their derivative trading and risk management activities and to reconcile positions and P&L. In addition, InstaNext’s robust reporting and analytics tools will provide Surge with the necessary coverage and projection details for their numerous drilling locations. With the implementation of the new system, Surge will be able to gain deeper insights into making decisions around price risk.

“InstaNext is excited to add Surge Energy and their outsourced marketing personnel as the newest addition to our growing Calgary E&P client base.  The Canadian E&P’s that hedge in USD are also exposed to currency rates, which our InstaNext product captures eloquently,” stated Richard Kulaszewski, EVP at InstaNext.

 

About InstaNext

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 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.

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