InstaNext, a premier provider of cloud-hosted energy risk management solutions, announced today that Storm Resources Ltd. has licensed the InstaNext platform for natural gas and NGLs hedging.
Headquartered in Alberta, Canada, Storm Resources [TSE: SRX] is an oil and gas exploration and development company with a land position totaling 121,000 acres within the Montney formation. Storm uses commodity price hedges to support its long-term growth in turn protecting cash flow on a significant portion of its production. The company’s current hedge position protects approximately 47% of its existing production consisting of both gas and liquids.
Historically, Storm was tasked with capturing hedge confirmations manually, as well as reconciling counterparty statements and performing sensitivity analyses with spreadsheets. By licensing the InstaNext platform, the energy company will now be able to automate these processes allowing its staff to focus on market analysis and adding value in other important areas of hedging strategy. InstaNext’s extensive analysis capabilities will enable Storm to speed up business processes and make more timely decisions around hedging.
“We are thrilled to announce that we have added another Montney producer into the InstaNext family,” stated Richard Kulaszewski, EVP Global Field Operations, “The Storm team is very hands on and have quickly maximized the utilization of system. We’re looking forward to continued growth with other E&P producers within the Montney resource play area.”
InstaNext is comprised of a team of software and technology experts in the fields of energy trading, hedging, and risk management. With an extensive portfolio of successes in the ETRM industry, InstaNext provides intuitive solutions to help companies meet the challenges of the complex energy market. The InstaNext platform simplifies every aspect of energy 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.