Third major gas customer to choose solution in 90 day period
Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced that OGE Energy Resources, Inc. has selected Commodity XL™ to manage all physical and financial trading, risk management, scheduling, and counterparty credit risk.
“We’re pleased to engage Triple Point in a long-term relationship,” said OGE Energy Resources president Craig Jimenez. “Commodity XL promises a scalable solution with impressive reporting capabilities.”
OGE Energy Resources will utilize Commodity XL to integrate physical and derivatives trading, marketing, support real-time connectivity to ICE, and manage scheduling including balance, capacity, and transportation cost.
OGE Energy Resources joins Suncor Energy and CIMA Energy as the third new major natural gas customer to select Triple Point in a 90-day period. Triple Point’s premier portfolio of gas customers also includes Anadarko Petroleum, ConocoPhillips, Glencore, Duke Energy, WINGAS, Bunge Global Markets, The Energy Authority, and Sumitomo.
“Major gas companies with significant trading and logistical demands, including recent customers Suncor Energy and CIMA Energy, continue to choose Triple Point software to maximize efficiency and productivity and gain competitive advantage,” said Doug Daugherty, VP, gas technical services, Triple Point. “From supply, trading, and risk − to scheduling and logistics − to invoicing and settlement, only Commodity XL provides the sophisticated natural gas solution our customers require to profitably manage the entire natural gas value chain and protect margins. We’re honored that a company of OGE’s stature has chosen Triple Point.”
OGE Energy Resources is a subsidiary of OGE Energy Corp. (NYSE: OGE) headquartered in Oklahoma City. OGE Energy Resources primarily focuses on serving customers along the natural gas value chain, from producers to end-users, by purchasing natural gas from suppliers and reselling to pipelines, local distribution companies, and end-users. OGE Energy Corp. also is the parent company of Oklahoma Gas and Electric Company, a regulated electric utility, and Enogex LLC, a midstream natural gas pipeline business.
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