Velvet Energy Implements the InstaNext Platform

BENTONVILLE, AR (February 22, 2018) – 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… continue reading

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Source: CTRM Center

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