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Triple Point to Provide Suncor Energy with Enterprise Solution Suite

A solution with functional breadth to manage unique challenges of crude and gas operations

Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Suncor Energy has licensed Triple Point’s enterprise solution suite to support strategic growth in oil and gas production and marketing activities.

The enterprise solution suite includes Commodity XL™ for Oil, Gas, Credit Scoring, Credit Analytics, and Xchange. Additionally, Suncor has licensed PhysOps ‘Visual Cockpit’™ and Gas Scheduling ‘Visual Cockpit’™.

Commodity XL provides a next-generation, extensible platform that tightly integrates front-office trading activities with physical movements of oil and gas. This enables a real-time view of inventory positions, purchase and sale contracts, and in-transit goods for improved hedging strategy. Commodity XL is designed to manage a number of requirements including — physical and financial trading, real-time connectivity to NYMEX and ICE exchanges, management of market and counterparty credit risk, and scheduling and logistics — all on a common platform.

“Triple Point offers an integrated solution, front-to-back, that can handle the entire lifecycle of a crude or gas contract,” said Michael Schwartz, chief marketing officer, Triple Point. “We look forward to partnering with Suncor for years to come, and we’re proud to add a customer of Suncor’s caliber to our established clients in Canada, including recent additions Bruce Power and Scotiabank.”