Plains, a leading Exploration and Production company, selects FUTRAK® for hedge management

INSSINC, one of the pioneers of FAS133 and hedge management systems, today announced that Plains E&P has selected FUTRAK® for its hedge tracking and accounting.

"FUTRAK® is uniquely positioned to assist E&P companies fulfill their hedge management and FAS133 requirements", commented Richard W. Kulaszewski. "Our success has been built around our practice of listening to our clients’ needs and incorporating their requests into our overall product development plans.

Plains Exploration & Production Company (PXP on the NYSE) is an oil and gas company engaged in the activities of acquiring, developing, exploiting, exploring and producing oil and gas properties in the United States. The Company owns oil and gas properties in five states with operations in the Los Angeles and San Joaquin Basins onshore California; the Santa Maria Basin offshore California; the Gulf Coast Basin onshore and offshore Louisiana, including the Gulf of Mexico, and the Val Verde portion of the greater Permian Basin in Texas.

INSSINC has provided companies with hedge accounting and risk management software for over 20 years. Founded in 1983, INSSINC provides risk management, FAS133, and IAS 39 software that can be deployed as an ASP or on-site to energy companies including: E&P, gas gatherers, pipelines, refiners, petrochemical firms, power utilities, LDC energy retailers, municipals, cooperatives, and energy merchants. In addition, they provide support for natural gas, crude, power, NGLs, and refined products.

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