AEGIS Hedging Solutions Acquires Ancova Energy: A Landmark Move in Energy Market
AEGIS Hedging Solutions acquires Ancova Energy, combining expertise in commodity markets with physical market insights, to provide comprehensive services to nearly 550 companies globally. AEGIS Hedging Solutions, a globally recognized leader in commodity market hedging services and software, has acquired Ancova Energy, a provider of oil and gas marketing services and technology headquartered in Oklahoma City. The acquisition aligns with AEGIS's expertise in commodity and environmental markets, Ancov's knowledge of the physical market, service reputation, and innovative revenue and contract management software. This acquisition marks a significant milestone in the energy market. All of Ancove's employees will join the company and continue operating from Oklahoma City as part of the acquisition. This move reflects AEGis's commitment to expanding its global footprint and offering a comprehensive suite of services to clients.
Published : 4 months ago by Wojciech Zylm in World
AEGIS Hedging Solutions, a globally recognized leader in commodity market hedging services and software, has announced the strategic acquisition of Ancova Energy, a renowned provider of oil and gas marketing services and software headquartered in Oklahoma City. Uniting AEGIS’s expertise in commodity and environmental markets with Ancova’s knowledge of the physical market, stellar service reputation, and innovative revenue and contract management software, this acquisition marks a significant milestone in the energy market.
Established in 2014 by former Chesapeake Energy executives, Ancova Energy has specialized in optimizing realized oil and gas prices for its customers, notably without engaging in market-making, proprietary trading, or owning transportation. The company’s team, boasting over 300 years of collective experience in the oil and gas industry, will be a valuable addition to AEGIS’s workforce. In 2022, Ancova introduced a groundbreaking software that elevates producer visibility by digitally reading midstream and marketing statements, thereby enhancing decision-making and identifying contract optimization opportunities.
Bryan Sansbury, Chairman and CEO of AEGIS, expressed excitement about integrating Ancova’s capabilities into their services, stating, ‘This acquisition is a significant step towards our goal of providing our clients with the most comprehensive and innovative solutions in the marketplace.’ Ancova’s co-founders, Max Gagliardi and Mark Edge, echoed this sentiment, highlighting the shared vision and focus on service and technology between the two companies.
As part of the acquisition, all of Ancova’s employees will join AEGIS and continue operating from Oklahoma City. AEGIS, having been recognized as the global leader in hedging for seven consecutive years, now serves nearly 550 companies across diverse markets with this acquisition. This move signifies AEGIS’s commitment to expanding its global footprint and offering a comprehensive suite of services to its clients, further cementing its position as a leader in the industry.