InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Tangle Creek Energy, Ltd. has licensed the InstaNext platform to manage commodity hedging and risk management.
Tangle Creek is a private Calgary-based resource company engaged in the exploration, development and production of oil and natural gas in Western Canada. The company focuses on acquiring existing reserves and production in prospective areas, as well as identifying and developing large scale unconventional oil and gas reservoirs.
Tangle Creek was looking for a cost-effective system that could manage their hedged commodities from across the energy sector while also providing full risk management and coverage analysis. The flexible architecture and ease of configurability of the InstaNext solution was essential in their decision to select the InstaNext platform. “We are thrilled to add another E&P company using our platform in Calgary,” stated Richard W. Kulaszewski, “The hedging and market data fit is extraordinary.”
Tangle Creek will use InstaNext to manage their swaps, collars and basis trades to control their hedge coverage versus production volume, in addition to reconciling positions and P&L with counterparties covering crude oil and natural gas in various markets and currencies.
In a matter of hours, the implementation was directed by InstaNext, while Tangle Creek’s prior experience with the system helped to facilitate the setup and entry of trades. Leveraging InstaNext’s advanced reporting and analytic capabilities, Tangle Creek will manage their hedging program with various customized reports highlighting their hedged positions versus their production for oil and gas.
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 can be implemented quickly and with low risk.
For more information please visit our website at www.instanext.com.