RevalÂ®, the leader in financial risk management solutions and services, is pleased to announce that Woodside Petroleum Ltd. (âWoodsideâ) has selected Revalâs HedgeRx as an enterprise risk management solution to handle its debt, basic cash management, energy, foreign exchange and interest rate risk management, as well as hedge accounting under IAS 39. Woodside is based in Perth and is Australia's largest publicly traded oil and gas exploration and production company, with a market capitalization of more than A$26 billion (Dec 05).
âMost people know of Reval for its technology and full derivative capabilities but then are pleasantly surprised to see that we have additional depth in other Treasury requirements like short and long term debt managementâ noted Jiro Okochi of Reval. âWe look forward to developing a strong long-term relationship with the treasury team at Woodside.â
âWe are very excited to have won another client in the Asia/Pacific region.â noted Peter Reynolds, Director of Sales of Reval. âWe believe that Woodside saw real value in our offering and thought that the hedge accounting experience we had would provide them with the knowledgeable partner they were looking forâ.
With the sale to Woodside, Reval continues its rapid growth across the globe and continues to maintain its lead in offering the most comprehensive derivatives and hedge accounting solution for corporate treasury.