InstaNext, a premier provider of cloud-hosted energy risk management solutions, announced today that Magnolia Oil & Gas has licensed the InstaNext platform for their oil, natural gas, and NGLs production.
Headquartered in Houston, Texas, Magnolia (NYSE: MGY) is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia is focused on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow.
With Magnolia’s recent venture into energy hedging, the company was looking for a software solution that could provide them with an accurate independent mark to market that would pass their audit requirements and provide qualified explanations of any MTM differences. InstaNext’s full market data library and MTM non-black box models fulfilled Magnolia’s requirements. “Having done mark to market for years, as well as having relationships with all the relevant audit firms, InstaNext was the natural choice for Magnolia,” stated Richard W. Kulaszewski, EVP Global Field Operations at InstaNext.
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.