InstaNext, a premier provider of cloud-hosted commodity trading and risk management solutions, announced today that Velvet Energy Ltd. has implemented the InstaNext platform to manage its crude oil and natural gas hedging.
Headquartered in Calgary, Velvet is a privately-held, full-cycle exploration and production company with operations focused in the light oil window of the Montney in Alberta and the liquids rich window of the Deep Basin of Alberta. Velvet selected the InstaNext platform based on its flexibility and ease of use to handle multiple trades while also providing necessary risk management reports. Velvet will use the system to streamline business processes around mark-to-market, settlements, and accounting. The InstaNext platform will also provide the energy company with advanced reporting capabilities which will simplify their reconciliation processes.
“We are thrilled to add Velvet to our long list of Calgary-based E&P clients,” stated Richard Kulaszewski, EVP of Global Field Operations. “InstaNext is a superior fit for these businesses in order to meet their current needs and give them the ability to seamlessly scale up to meet the demands of future growth.”
Velvet is currently in the early stages of using the InstaNext platform following implementation which began in November. 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. Implementing InstaNext’s software enhances our risk management valuation, reporting and audit needs for our financial hedging activity. We feel that InstaNext has built an excellent platform on modern architecture that allows us to simplify our internal processes.”
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.